With steady, predictable 3.9% growth projected for the next decade, there is some talk that the global plastics market is stabilizing after a long period of turbulence.1 The conclusion is logical, based on the numbers — but is it really signaling positive change for those relying on plastics?
The impact of several ongoing plastics industry trends may influence the current and/or future status of the market. As we reach the mid-point of 2022, it’s prudent to perform a reality check for manufacturers and suppliers.
Consumer goods manufacturing is increasingly dependent on automation. Robotics currently complete 52% of production line tasks within the consumer goods and pharma industries.1 The percentage is second only to the combined 70% used across the automotive (38%), electronics (15%), plastics and chemicals (10%) and metals (7%) industries.2
“Winning the day.” It’s an inspirational and aspirational challenge to the entire Kaysun team that encourages finding and making daily improvements to help everyone meet their daily goals.
But changes for the better aren’t effective if they exist in a vacuum. Just as continuous improvement requires every team member to act as empowered individuals, its success relies upon cross-functional teams to effectively solve problems.
As the future expands for Kaysun Corporation, so does the facility. July 2022 marks what CEO Ben Harrison calls “an exciting milestone.” The company is breaking ground to add 65,000 square feet of combined office and manufacturing space to its existing facility over the course of about 8 months.
In February, 2021, the plastics industry was devastated by a freak winter storm that laid waste to Texas power grids and 80% of U.S. resin production.1 As though the widespread after effects of the natural disaster weren’t enough for the plastics industry to handle, substantial polypropylene (PP) and polyethylene (PE) price hikes and a 30% diminishment of production capacity added to the burden.1
In the year since, prices remained volatile and sluggish supply chain logistics kept materials from timely distribution; yet, there seemed to be an undercurrent of optimism in the industry. PP and PE production capacity was on the upswing despite shipping woes. Resin prices were leveling off, if not slightly receding.2 The global resin shortage was presumably reaching a tipping point.
Unfortunately, the optimism was short-lived. Russia invaded Ukraine on February 24, 2022. Its impact waylaid the market’s potential recovery and further complicated ongoing industry challenges.
Quality drives performance in any product. For critical-use applications, the stakes are even higher. End-user safety, health, and lives could be jeopardized if a product malfunctions.
To mitigate high degrees of risk, manufacturers must have the utmost confidence in their injection molding partner’s experience with tight tolerance injection molding.
Supply chains are vital in any industry, yet they can be vulnerable to devastating disruption. The current supply chain upheaval drives the point home, but it should also give you pause.
Are you working with suppliers that can accurately pinpoint sources for every material, process, and shipment related to your orders and getting products to market? In turn, can you use this information to confidently manage your projects, vendors, and business? These questions — and answers — are crucial in understanding if you’re leveraging the benefits of supply chain mapping.
On April 12-14, 2022, the Anaheim Convention Center (Anaheim, California) will play host to the 13,000 attendees and 1,400 exhibitors of Medical Design & Manufacturing (MD&M) West 2022.
By 2024 the need for automotive plastics, parts, and innovations will push the value of the automotive plastics market to a projected $50 billion.1
As for the proliferation in the use of plastic, electric car sales and improvements undoubtedly contribute but they are not the sole cause. Traditional automobile manufacturers have also largely adopted a plastics-first mindset when it comes to certain design, engineering, and production best practices.