Italian polymer machinery outlook ‘complicated’, despite record 2023 sales

Milan, Italy – The Italian plastics & rubber machinery segment delivered a strong year in 2023, posting a 2.8% growth in sales to €4.8 billion.

The increase was mainly driven by exports, accounting for €3.59 billion of overall sales, said the latest figures published by trade body Amaplast.

Export figures, said the association 21 March, registered a 10.8% growth over 2022.

The local Italian industry, however, shrank 7.5% to €2.33 million, of which €1.1 billion was imported.

In detail, exports showed sustained growth for the three main geographical macro-areas of Europe, Americas and Asia.

Sales to Europe rose 6.1% year-on-year, with a distinction, between the robust 9.2% growth for the EU area and a 4.8% decline for the extra-EU countries.

The Americas region saw a 20.2% increase in demand, with double-digit average growth both for the USMCA zone and for Latin America.

Here, Amaplast noted a “slightly below-average but nevertheless positive trend” of growth in the US, where exports grew 5.5% year-on-year.

In Asia, exports increased 8.1%, reflecting the combined effect of strong 50% growth in the Middle East and a slight 1.3% slump in the Far East, excluding China.

China maintained its position as the fifth top-ranking importer of Italian machinery, with sales increasing 12.4% year-on-year.

Germany, the US, Mexico and France held their positions as the top four importers of machinery from Italy in 2023.

Within the top 10 markets, Poland and India were the only countries to report a decline in demand, at 11% and 10% respectively.

Exports to Africa also showed strong growth, both to Mediterranean markets (36.0%) and subSaharan countries (31.3%).

Here, Amaplast said it is intensifying its promotional activities in Africa, taking part in “numerous trade fairs” to help explore “the great potentials of this area.”

On the 2024 outlook, Amaplast said enthusiasm “is bated somewhat” by a general feeling of uncertainty caused by the war in the Middle East, the rise in interest rates, and widespread instability.

With a “complicated” outlook, Amaplast said 2024 "looks unlikely" to replicate the performance of 2023.

“After the supply chain crisis has been resolved, with orders piling up in 2021 and 2022, analysts are predicting a substantial readjustment,” said Amaplast.