The value of shipments of primary plastics machinery for injection molding and extrusion increased to $413.2 million in the second quarter in North America — up 21.4 percent from the prior quarter and 28.8 percent from the prior year.
Shipment values were 19.4 percent higher for injection molding presses; 10.2 percent higher for single-screw extruders used to manufacture pipes, window profiles, rods and sheet; and 86.6 percent higher for twin-screw extruders, used for mixing, compounding and producing wood fiber blends.
Compared to the second quarter of 2021, shipments of single-screw extruders fell 11.1 percent, while shipments of twin-screw extruders climbed 53.1 percent over the same period. Injection molding machine shipments rose 30.7 percent from a year earlier.
The statistics were compiled and reported by the Plastics Industry Association's Committee on Equipment Statistics (CES).
Following last year's "robust" plastics machinery shipments, Perc Pineda, the association's chief economist, said in a news release that it is reassuring to see the trade group's estimates of shipments in Q2 2022 significantly above those from Q2 2021, especially considering the economy contracted in the first half of 2022.
"It is still expected that plastic products manufacturing will increase this year. By extension, it should continue to generate demand for plastics equipment," Pineda said. "However, equipment demand growth rates could be reverting to its long-run trend after double-digit growth rates since the economy bounced back from the COVID-19 recession."
Rising interest rates, the ongoing recovery of the supply chain and the tight labor market are headwinds, Pineda concluded.