Market demand for plastics machinery continued to grow in the third quarter of 2014, reporting a 6 percent increase from the second quarter of this year, however, it is down 2 percent from Q3 of 2013, according to statistics compiled and reported by SPI: the Plastics Industry Trade Association's Committee on Equipment Statistics (CES).
Shipments of primary plastics equipment (injection molding, extrusion and blowmolding equipment) for reporting companies totaled $301.4 million in Q3. For the year to date, the total value of primary equipment shipments is up 6 percent compared with last year.
"The market conditions that drive investment in new industrial equipment have prevailed throughout all of 2014, and I expect these conditions to persist in 2015. These are: low interest rates, and the need for increased productivity in order to meet rising aggregate demand," according to Bill Wood, the plastics market economist who analyzes and reports on the plastics machinery market sector for the CES.