German exports of plastic and rubber machinery to Iran increase nearly 5 times Manufacturers are bullish on Iran
According to "Plastics News" reported that the Iranian machinery market potential is huge, in the first five months of 2017, Germany's machinery exports to Iran increased by nearly five times compared with the same period last year, reaching 21 million euros, accounting for about 8.6% of the Iranian market share.
Iran's top ten suppliers of plastic and rubber machinery
Germany's exports of plastic and rubber machinery to Iran increased by 476.5% in the first five months of 2017
A recent report by the German Plastics and rubber Machinery Association (VDMA) shows that the market share of German plastic and rubber machinery in Iran is growing. And the growth is rapid.
As a warm-up for the 2017 Iran Plast2017, which will be held from September 24 to 27, the VDMA said the value of German machinery exports to Iran in 2016 increased by 14 percent to 20.3 million euros ($23.6 million). An increase of 193% from 2015. In addition, in the first five months of 2017, the value of German machinery exports to Iran reached 21 million euros (about 24.4 million US dollars), a staggering 476.5 percent increase compared to the same period last year.
Among the top 10 machinery suppliers to Iran, Germany ranks second after China. In 2016, China's sales in Iran were close to 150 million euros ($174.5 million). Chinese suppliers have a 63.5 percent share of Iran's machinery market, followed by Germany with 8.6 percent. Italy is not far behind, with sales in Iran of 19.9 million euros (about $23.15 million) in 2016, accounting for 8.5 percent of the market. Turkey, South Korea, Austria, China's Taiwan, France, India and Japan rounded out the top 10.
Overall, global exports of plastic and rubber machinery to Iran totaled 235 million euros ($273.4 million) in 2016, up 14.8 percent from the previous year.