YEAR IN REVIEW 2022
Another “annus horribilis” for the plastics industry comes to an end / Inflation, energy price shock, and the war in Ukraine weigh heavy / Actually, things can only get better
 Merry Christmas and a Happy New Year 2023! (Photo: Pexels/Valeria Vinnik) |
Dear reader,
The hope of all finally being well again after two bitter years of Covid died on 24 February 2022: after Russia’s criminal invasion of Ukraine, it was also clear in the plastics industry that there would be no hoped-for return to normality.
The start of the war in Ukraine marked the beginning of another extremely challenging year for the plastics industry, which continues to this day, and will drag on into 2023, and for the foreseeable future. Nothing is as it was – politically, the world has been in a state of emergency for almost ten months now.
But economically, too, the signs were and are pointing to a storm. First, record prices for raw materials and energy and the disruptions in the supply chains caused problems for many companies, followed by high inflation and a massive drop in demand due to the weakening global economy in the slipstream of the war. Additional difficulties were brought by Beijing’s rigid zero-Covid policy and the associated lockdowns of important ports and entire regions in China.
The spectre of recession is haunting Europe. Reports of production shutdowns and insolvencies are increasing by the day. Even the world’s leading trade fair, K 2022, in Dusseldorf, Germany (see Plasteurope.com of 27.10.2022) gave the industry only a brief respite amidst successive bad news.
Even if there are initial signs from the market being in recovery, a lasting improvement is not to be expected anytime soon. But even pessimists have to concede: 2023 can only be better – politically more peaceful and economically less challenging. of hope – at least on the business front.
There is also some reason for hope within the industry: with promising partnerships along the plastics value chain on behalf of sustainable business models, energy transition and recycling projects.
To sum up the year that 2022 has been, we’ve put together a review, a look-back so to say, of everything that defined the plastics industry this year. We sincerely hope you enjoy reading our Year in Review 2022.
In 2023, we will continue to inform you, dear readers, about most the latest, relevant, and interesting news from the plastics industry. We are looking forward to it and wish you, despite the difficult times, a merry Christmas and a happy new year!
Plasteurope.com editorial team
Year in Review 2022
The hope of all finally being well again after two bitter years of Covid died on 24 February 2022: after Russia’s criminal invasion of Ukraine, it was also clear in the plastics industry that there would be no hoped-for return to normality.
The start of the war in Ukraine marked the beginning of another extremely challenging year for the plastics industry, which continues to this day, and will drag on into 2023, and for the foreseeable future. Nothing is as it was – politically, the world has been in a state of emergency for almost ten months now.
But economically, too, the signs were and are pointing to a storm. First, record prices for raw materials and energy and the disruptions in the supply chains caused problems for many companies, followed by high inflation and a massive drop in demand due to the weakening global economy in the slipstream of the war. Additional difficulties were brought by Beijing’s rigid zero-Covid policy and the associated lockdowns of important ports and entire regions in China.
The spectre of recession is haunting Europe. Reports of production shutdowns and insolvencies are increasing by the day. Even the world’s leading trade fair, K 2022, in Dusseldorf, Germany (see Plasteurope.com of 27.10.2022) gave the industry only a brief respite amidst successive bad news.
Even if there are initial signs from the market being in recovery, a lasting improvement is not to be expected anytime soon. But even pessimists have to concede: 2023 can only be better – politically more peaceful and economically less challenging. of hope – at least on the business front.
There is also some reason for hope within the industry: with promising partnerships along the plastics value chain on behalf of sustainable business models, energy transition and recycling projects.
To sum up the year that 2022 has been, we’ve put together a review, a look-back so to say, of everything that defined the plastics industry this year. We sincerely hope you enjoy reading our Year in Review 2022.
In 2023, we will continue to inform you, dear readers, about most the latest, relevant, and interesting news from the plastics industry. We are looking forward to it and wish you, despite the difficult times, a merry Christmas and a happy new year!
Plasteurope.com editorial team
Year in Review 2022
12.12.2022 Plasteurope.com [251509-0]
Published on 12.12.2022