Strong Construction & Manufacturing Markets Boost Demand for NDTS

 

This Thomas Index Report is sponsored by the Jesse Garant Metrology Center, a specialized part inspection company.

 

Hello again.

This week we’re going to take a look at sourcing for Non-Destructive Testing Services by users of the Thomasnet.com platform. Our data shows a six-week upward trend in this category, with sourcing up 32 percent week-over-week, and a whopping 376 percent month-over-month.

Our firmographic buyer data shows that the top 3 industries driving this trend are Industrial Equipment Manufacturing, Construction Contractors, and Automotive Parts & Supplies.

This upward trend in sourcing for Non-Destructive Testing Services aligns with some booming activity in those industries as well as in huge capital projects going on nationwide. For example, in Industrial Equipment Manufacturing, orders for Caterpillar mining machines and construction bulldozers have jumped threefold over the last year, according to Yahoo Finance. Total spending in the U.S. construction industry was up over 5 percent in the first three months of this year over the same three months in 2017 according to the U.S. Census Bureau. And, according to CNBC, construction contractors expect to see much of that growth in the office market, which had stagnated somewhat since the recession that began in 2007.

Non-Destructive Testing Services are used heavily to check welds. So it’s no surprise that our data is also showing upward sourcing trends in the categories of Welding Services, which is up 2% month over month, Laser Welding Services is up 17% month-over-month and Aluminum Welding Services which is up 56% month-over-month.

Moving on from these categories, here’s a look at the top ten industrial product and service categories being sourced on the Thomasnet.com platform over the past four weeks:

 

  1. CNC Machining
  2. Steel
  3. Metal Stampings
  4. Metal Fabrication
  5. Injection Molded Plastics
  6. Lumber
  7. Tube Fabrication & Bending Services
  8. Corrugated Boxes
  9. Contract Manufacturing
  10. Machining

 

The best way to get this weekly Thomas Index report is to sign up for our daily Thomas Industry Update. You can do so by visiting Thomasnet.com/updates.

Thanks for watching, and I’ll see you next week.

 

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