The shipments value of plastics machinery posted a moderate rise in the first quarter of 2015 when compared with the same period last year, according to statistics compiled and reported by SPI: the Plastics Industry Trade Association’s Committee on Equipment Statistics (CES).
“Yet again, the quarterly CES shipments data posted a year-over-year gain. This is particularly encouraging in light of the slower-than-expected growth in the US economy to start the year. The US economy will build momentum in the second half of 2015, and the market conditions that favor business investment in new equipment–low interest rates and rising aggregate demand–will continue to prevail,” according to Bill Wood, the plastics market economist who analyzes and reports on the plastics machinery market sector for the CES.
Primary Plastics Equipment Shipment
Shipments of primary plastics equipment (injection molding, extrusion and blow molding equipment) for reporting companies totaled $293.6 million in Q1. This was a seasonal decline of 15.2% from the shipments total of $346.1 million in Q4 of 2014, but it was a gain of 2.9% when compared with the total from same quarter of a year ago. In 2014, the total annual value of primary equipment shipments escalated 7.6%.
A breakout of the CES data shows that the shipments value of injection molding machinery advanced 1.4% in Q1 when compared with same quarter from last year. The shipments value of single-screw extruders increased 8.4% in Q1 over last year. The value of shipments of twin-screw extruders (includes both co-rotating and counter-rotating machines) gained less than 1% in Q1. The Q1 shipments value of blow molding machines jumped 19.4%.
The CES also compiles data on the auxiliary equipment segment (robotics, temperature control, materials handling, etc.) of the plastics machinery industry. New bookings of auxiliary equipment for reporting companies totaled $105.4 million dollars in Q1. This was a gain of 6.9% when compared with the total from Q1 of last year.
The growth in the CES data on plastics machinery shipments was only moderately slower than the gains in two major data series compiled by the U.S. government that measure demand for industrial machinery. According to the Bureau of Economic Analysis, total business investment in industrial equipment (plastics machinery is a subset of this data) increased by 6% (seasonally-adjusted, annualized rate) in Q1 when compared with the same quarter from last year.
The other major industrial machinery market indicator, compiled by the Census Bureau, showed that the total value of new orders of industrial machinery also increased by 6% in Q1 when compared with the year before.
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