North American plastic machinery shipments increased 8.8% in the third quarter compared to the same period last year

Shipments of plastic injection molding and extrusion machinery in North America increased in the third quarter, the Plastics Industry Association's Committee on Equipment Statistics (CES) reported
.

According to preliminary estimates by the reporting company, shipments totaled $333.
8 million in the third quarter, an increase of 4% from the previous quarter and an increase of 8.
8% from the same period last year
.

Shipments of twin-screw extruders surged 44.
4% in the third quarter and were 61.
2% higher than the same period last year
.
Shipments of single-screw extruders increased 7.
2% from the previous quarter and 15.
9% from the same period last year
.
CES reported that injection molding machine shipments rose 1.
6% from the second quarter and 5.
7% from a year earlier

Dr.
Perc Pineda, Chief Economist of Plastics, noted that the upward trend in demand for plastics processing equipment continues as the economy recovers from the pandemic, saying: "The increase in shipments is in line with the increase in Quarterly plastic production was up 4.
2%, or 5.
9%, from a year earlier
.
"

In compiling the statistics, CES also conducts a quarterly survey of plastics machinery suppliers about current market conditions and future expectations
.

In the third quarter survey, 75.
5% of respondents said they expected market conditions to improve or remain stable in the next quarter
.
That's down from 92.
7 percent of respondents in the second-quarter survey who expressed the same opinion
.

As for the next 12 months, 75% of respondents expect market conditions to stabilize to better
.
It was also slightly lower than the survey rate in the second quarter
.

"While the survey results show that growth expectations have moderated, it also shows that plastics machinery suppliers remain optimistic about market conditions over the next four quarters," Pineda said
.

Compared with the second quarter, North American plastics machinery exports rose 6.
1 percent to $390.
2 million
.
Mexico and Canada remain the largest export markets for plastic machinery
.
Exports to USMCA partners totaled $172.
6 million in the third quarter, accounting for 44.
2% of total plastic machinery exports
.
Imports fell 3% to $848.
4 million, resulting in a trade deficit of $458.
3 million
.
The U.
S.
plastics machinery trade deficit fell 9.
6% in the third quarter
.
U.
S.
trade data for the third quarter coincided with an improvement in the global trade outlook
.
The World Trade Organization now expects global merchandise trade to grow 10.
8% this year, up from a forecast of 8.
4% in March
.

While the outlook is largely positive, Pineda warns: “We are not out of the woods yet
.
The data seen at the American Plastics Industry Association confirms our earlier forecast that while shipments will continue to fluctuate, plastics in the second half of 2021 The outlook for machinery is positive
.
The likelihood that supply chain issues will continue to be a headwind in 2022 remains high
.
The world remains in the grip of the pandemic
.
”