German rubber industry reports noticeable drop in sales since the beginning of the year
Dec 01, 2020
The German Rubber Trade Association (WDK) reported an 18 percent decline in sales in the first nine months of the year. Analysts believe that demand will continue to recover in 2021.
According to WDK Chief Economist Michael Berthel, sales of the German rubber industry in the first three quarters of 2020 were just under € 7 billion, with tire products accounting for € 2.76 billion, 22% less than last year. Sales of general rubber goods fell 15% in the first nine months to € 4.2 billion.
According to a recent industry study by the WDK, for 2020 overall sales will fall 12.4% compared to 2019, when they were 11 billion euros. The new forecast, Bertel notes, is better than the September forecast when it came to a 15% decline.
According to Michael Bertel, sales of rubber products in Germany will grow by 16% in 2021, but this increase will not be enough to reach the 2019 level.