SPI releases Q3 plastics machinery shipment statistics.
Press Release Summary:
According to the SPI Committee on Equipment Statistics, U.S. manufacturers and importers of primary plastics machinery and equipment shipped $228 million worth of machinery in Q3 2007. Other sales data include $84.3 million for auxiliary equipment and $21.2 for blow molding machinery. High cost of resins and energy as well as demand hindered by declines in residential construction and domestic auto production has led to a decline in investments, according to economist Bill Wood.
Original Press Release:
SPI Releases Third Quarter Plastics Machinery Shipment Statistics
Dollar Value of Third Quarter Shipments Up 2 Percent from Last Quarter; Forecast is for Gradual Increase in Equipment Investment in Second Half of 2008
WASHINGTON, D.C. (December 10, 2007) - U.S. manufacturers and importers of primary plastics machinery and equipment shipped $228 million worth of primary machinery (excluding components and auxiliary equipment) in the third quarter of 2007, according to the latest equipment statistics released today by the Society of the Plastics Industry, Inc. (SPI) Committee on Equipment Statistics (CES). This third quarter total is 2 percent higher than the $223 million shipped in the second quarter of this year, but 11 percent down from the third quarter of 2006 (which, it should be noted, was an NPE trade show year).
"SPI's quarterly machinery shipment statistics report serves as an important tool for examining and understanding the U.S. plastics machinery and equipment industry, as well as the economic trends that impact it," said Walt Bishop, vice president of SPI's Equipment Council and executive director of the trade association's machinery division.
"Plastics processors continue to struggle with the high cost of resins and energy, and this has hindered their ability to invest in new equipment," stated economist Bill Wood, who provided the analysis for SPI's report. "Plus, total demand for plastics products remains hindered by the sharp declines in both residential construction activity and domestic auto production." However, Wood does see reason for optimism. "The energy issue notwithstanding, other important indicators portend slow, but steady improvement in the U.S. economy and the plastics industry in 2008," he said. "We should eventually see a gradual increase in new plastics machinery investment during the second half of 2008."
Other data included in the report:
Demand for plastics Auxiliary Equipment was stronger in the third quarter of 2007, as new bookings registered a total of $84.3 million-a 3 percent increase from the dollar amount booked in the second quarter of 2007.
The shipment dollar value of Blow Molding machinery is $21.2 million in the third quarter of 2007-7 percent higher than the dollar amount registered in the third quarter last year, and up 9 percent from the dollar amount shipped during the second quarter of 2007.
The number of Extrusion machinery units shipped in the third quarter of 2007 decreased 11 percent from the number shipped during the same quarter in 2006. However, in terms of dollar amount, the third quarter 2007 shipments total of $38.6 million is 8 percent higher than the amount shipped during the same quarter last year.
Injection Molding machinery shipments totaled 745 units in the third quarter of 2007. While this is a decrease of 22 percent from the number shipped in the NPE-aided third quarter of last year, it is 3 percent more than the number of units shipped in the second quarter of 2007.
Using monthly data supplied by CES participating companies, the report was compiled by VERIS Consulting, LLC. The analysis of the aggregate data was completed by Mountaintop Economics & Research, Inc., a supplier of market analyses and forecasts for decision makers in the plastics industry.
SPI's CES is the only provider of timely and reliable plastics equipment statistics in the country. The reports can be found online at SPI's at SPI's Plastics Industry Store. The cost is free for members. Nonmembers can purchase the reports at a cost of $580 for the Annual Report (includes the fourth quarter report) or $250 for an individual quarterly report.
Founded in 1937, The Society of the Plastics Industry, Inc., is the trade association representing one of the largest manufacturing industries in the United States. SPI's members represent the entire plastics industry supply chain, including processors, machinery and equipment manufacturers and raw materials suppliers. The U.S. plastics industry employs 1.1 million workers and provides nearly $341 billion in annual shipments.
Contact: Barry Eisenberg
(202) 974-5210
Email: beisenberg@plasticsindustry.org
