Signs of slowdown for Italian plastics and rubber machinery manufacturers

Istat data for Italian foreign trade in machinery, equipment, and moulds for plastics and rubber in the first half of 2024 evidence a progressive drop in trade in both directions compared to the same period in 2023.

According to analyses by the Mecs Study Centre of the trade association Amaplast, after positive consolidated year-end results for both imports and exports in 2023, imports were consistently lower in the early months of 2024 with respect to the same period a year earlier, with drops entering into the double digits in the second quarter. The period closed with a drop of 12 percentage points to a value of 483 million euros, with imports noticeably declining from all three main source countries: Germany, China, Austria.

The first half of 2024 closed with exports still in the positive range (+2.5% at 1.73 billion euros) but on a diminishing trend because of lower demand for a number of different types of machinery - including some making up a large share of the total - and moulds.

Exports to Germany - historical main partner of Italian manufacturers, currently grappling with an unfavourable economy and a complicated political situation - have been rather lacklustre while those to the United States (second largest destination market), while remaining high in recent years, have slowed somewhat.

Remaining within the realm of the top ten destination markets, we find diametrically opposite trends. Exports to the EU countries in this group - Spain, Poland, France - have dropped by 13% and 32% and remained substantially stable, respectively. Meanwhile, double-digit growth is recorded for a number of extra-EU markets: +26% for Mexico; +36% for China; +50% for Turkey; +22% for India; and +24% for the United Kingdom.

In parallel, the positive Istat export data still reflect orders for complex systems, with delivery times of 6–9 months or more, registered towards the end of the previous year.