Plastics Machinery Shipments Up 4.1% in Q3 of 2018
7 Jan, 2019
The plastics machinery shipments in North America continued to increase in the third quarter according to the statistics compiled and reported by the Plastics Industry Association’s (PLASTICS) Committee on Equipment Statistics (CES).
The preliminary estimate of shipments of primary plastics equipment (injection molding and extrusion) for reporting companies totaled $349.4 million in the third quarter. This was a 4.1-percent increase from the $335.5 million (revised) second-quarter shipment. Injection molding shipments in the second quarter were higher than previously thought. Year over year, shipments grew 5.6 percent.
“Plastics machinery shipments recovered in the third quarter following a weak second quarter,” said Perc Pineda PhD, Chief Economist of PLASTICS. “We expect higher shipments in the fourth quarter. We have a tight labor market and U.S. manufacturers, including plastics machinery manufacturers, have been working on production backlogs. As a result, shipments are pushed into the next quarters,” Pineda added.
On a quarterly basis, injection molding shipments increased 2.1 percent. Single-screw and twin-screw extruder shipments continued double-digit growth of 23.8 percent and 14.2 percent, respectively. Compared to the third quarter last year, shipments of injection molding were up 4.6 percent. Shipments of single-screw extruders rose 7.7 percent and twin-screw extruders 17.2 percent over the same period.
“Except for soft auto and home sales numbers in the third quarter, the U.S. economy is still in expansionary mode—and that’s good news for plastics machinery manufacturing. While there are projections of moderate growth next year, it is expected that the U.S. economy will remain healthy,” said Pineda.
The PLASTICS Committee on Equipment Statistics (CES) collects monthly data from manufacturers of plastic injection molding, extrusion, blow molding, hot runners and auxiliary equipment. A confidential, third-party fiduciary, Vault Consulting, LLC, compiles the monthly data and analyzes individual company data for consistency and accuracy. Once this crucial process is completed, Vault aggregates and disseminates reports to participating companies. If this is something you and your company are interested in, please contact Katie Hanczaryk at firstname.lastname@example.org or 202-974-5296.
About Plastics Industry Association: The Plastics Industry Association (PLASTICS), formerly SPI, is the only organization that supports the entire plastics supply chain, representing nearly one million workers in the $404 billion U.S. industry. Since 1937, PLASTICS has been working to make its members and the industry more globally competitive while advancing recycling and sustainability. To learn more about PLASTICS’ education initiatives, industry-leading insights and events, networking opportunities and policy advocacy, and North America’s largest plastics trade show, NPE: The Plastics Show, visit plasticsindustry.org. Connect with PLASTICS on Twitter, Facebook and LinkedIn.