Data reported this month by the Society of Plastics Industry shows the importance of focus and specialization in the plastics business. There are 192,132 fewer employees in the plastics industry since 2005, a 22% decrease. The number of establishments has also declined by 8%.
Part of the problem-the economy. In 2008-2009, we saw the worst economic conditions since the 1930s. Some of it was movement of manufacturing to Asia.
But don't blame the medical market. Demand for contract manufactured medical products is advancing 5% to 10% a year. The gross domestic product in the United States, while better than it was two to three years ago, is still only advancing at annual rates in the 1-3% range.
But there has been some attrition among medical contract manufacturers who perform plastics processing....