Plastics Information Europe has released the finding of its third survey on business performance and the economic outlook of Europe’s plastics industry, with 42 per cent of companies reporting business performance as unchanged in the second half of 2019, with 31 per cent saying it was better.
Even though the survey showed plastic-related regulations and the public backlash against plastics are worrying most of the European plastics industry, a third of companies are planning to invest more in 2020.
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The regions surveyed with the largest share rating business in the second half of 2019 as worse in a half-year comparison were Italy and German-speaking Europe.
Across sectors, plastics converters fared well compared to many others, with around 39 per cent rating business in the second half of 2019 as better than in the first half.
The top concern for business performance in 2019 across all respondents in Europe was sales volumes, followed by selling prices and material costs.
An exception was the Benelux region, where staff recruitment was rated as the number one concern last year.
Plastics-related regulations are becoming a greater concern for 2020, especially in Benelux, France, and Italy, and as well as this, the public backlash against plastics is worrying many European companies about business performance in 2020.
More than 56 per cent of those surveyed did not see an effect on business from the backlash in 2019, while one third witnessed a negative impact.Almost half of companies foresee a negative effect on business in 2020 because of the backlash and this applies across the board for sectors, regions, and company size.