Dollar-based shipments of injection molding machinery in the United States jumped 18.2 percent in the last three months of 2015 compared to the same quarter in 2014, according to the SPI Committee on Economic Statistics (CES). Shipments for the year rose 6.4 percent.
Factors contributing to strong results include low interest rates and energy prices, as well as rising wages and household incomes resulting from stronger employment levels, according to Bill Wood, former chief economist for Plastics World who provides analysis to the CES.
Headwinds include the strong value of the U.S. dollar, which makes imported plastics goods less expensive.
The strongest market sectors in 2016 are expected to be medical and appliance manufacturing, according to a survey by the SPI CES.
The total value of all primary equipment shipments measured by the CES, which includes some Canadian business, in 2015 was $1.29 billion, up 4.8 percent compared total from 2014. The CES report does not include all plastics machinery manufacturers.