A Stronger Moldmaking Market
According to the 2014 Metalworking and Plastic Capital Spending Surveys by Gardner Research, facilities that subscribe to MoldMaking Technology will spend $2.5 billion on metalworking equipment, tooling and workholding, primary processing equipment, auxiliary equipment, molds,software and testing equipment.
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Over the past two years Gardner Research surveys indicate that there has been a significant increase in investment in equipment needed to make molds and significant investment in molds by plastic processors. Based on our monthly Moldmaking Business Index, average spending per plant over the next 12 months has increased dramatically since December 2011.
The reasons for these increases are:
1. Reshoring is a major trend affecting American manufacturing. Cheaper labor costs in the U.S. over the last five to 10 years. Relatively cheaper energy costs. A move to manufacture locally. Since 2012 there has been a noticeable uptick in tighter quality standards as a reason to by new machines.
2. American manufacturers are also realizing the cost benefits of technology. Difficulty in finding skilled labor. Rapidly rising healthcare and benefits costs are making it less desirable for manufacturers to hire new employees. Process flexibility.
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