Frankfurt – The German rubber industry trade association WDK has seen an 18% decline in sales over the first nine months of the year, but expects a recent recovery in demand to continue into 2021.
Rubber industry sales reached just under €7 billion during the first three quarters, with tire products contributing €2.76 billion to total revenue, down 22% year on year, according to WDK chief economist Michael Berthel.
General rubber goods sales fell 15% in the first nine months to €4.2 billion, said Berthel in a presentation to the WDK Autumn Conference held 19 Nov.
For the full year, the latest WDK industry survey suggests that sales will be down 12.4% compared to €11 billion registered in 2019.
The estimate beats previous forecast of 15% decline announced in September, according to Berthel.
For the year 2021, Berthel said German rubber sales are anticipated to increase 16%.
This increase, however, will not be enough to reach the 2019 levels, he added.