This press release was issued on October 11, 2021 via Thomas Insights
NEW Report: Growing Housing Demands, Focus on Sustainability
Will Drive Q4 Industrial Sourcing Trends
Thomas Unveils Quarterly Trends Report
New York, NY (October 11, 2021) – Thomas, the leader in product sourcing, supplier selection, and marketing solutions for industry, today released its ‘2021 Q3 Sourcing Activity Snapshot,’ which reveals insights into the top products and services sourced by North American manufacturers, and offers predictions about sourcing trends this business quarter.
The Q3 report identifies cyclical trends within the U.S. manufacturing and industrial economy drawn from the Thomasnet.com® platform, which serves 1.3+ million active registered users and 14 million industrial professionals. The report’s predictions also provide a snapshot into growth categories that will impact both the industrial sector and economy, with the booming construction sector and sustainability initiatives expected to be major factors in the months ahead.
“The topic of supply chain disruptions has been top of mind for everyone from industrial business leaders to consumers in recent months. Between surging housing demand, product shortages, and calls for more sustainable manufacturing practices, consumer demands will continue to shape industry this quarter,” said Thomas President and CEO Tony Uphoff. ''Our Sourcing Activity Snapshot, powered by our proprietary data, provides a real-time window into the trends impacting manufacturing and how the industrial sector is responding to those shifts.”
The full 2021 Q3 Sourcing Activity Snapshot is now available for download. Highlights include:
Top 5 2021 Q3 Manufacturing Trends:
Top 5 Products in Q3
1. Printed Circuit Boards (PCBs)
2. Medical Equipment & Supplies
3. Steel
4. Packaging
5. Food Products
Top 5 Services in Q3
1. Manufacturing Services
2. CNC Machining
3. Metal Fabrication
4. Contract Manufacturing
5. Plastic Injection Molding Services
Top 5 Products and Services Sourced Q3 Year Over Year (2020/2021)
1. CNC Turning; up 1,769%
2. Silicon Gaskets; up 1020%
3. Fire Extinguishers; up 865%
4. Cleaners; up 662%
5. Ultra-Low Temperature Freezers; up 658%
2021 Q4 predictions include:
Machinery Rebuilding Services: 8-11% Projected Increase
With industrial businesses increasingly prioritizing sustainability and waste reduction, Thomas anticipates sourcing for Machinery Rebuilding Services will increase between 8-11% over the next three months as manufacturers opt to refurbish and restore existing equipment rather than purchasing new machinery.
General Contractors: 9-12% Projected Increase
Surging demand for new houses combined with other new construction projects nationwide will lead to an increase in sourcing for General Contractors, likely between 9-12% growth quarter over quarter for Q4 2021.
Click here to download the complete 2021 Q2 Sourcing Activity Snapshot.
About Thomas
Thomas provides actionable information, data, analysis, and tools that align with and support today's industrial buying process. Its solutions include the Thomas Network at Thomasnet.com®, industry's largest and most active buyer/supplier network. Through Thomas Marketing Services, the company provides full-service industrial marketing programs and website development. Thomas Product Data Solutions helps manufacturers connect with design engineers through advanced CAD/BIM and data syndication services. Thomas Industrial Data supplies sourcing and supply chain trend data to media, investors, analysts, and researchers to provide market insight and inform decision making. Thomas WebTrax® provides opportunity intelligence on in-market buyers to help marketing and sales teams track, identify, and engage high-value prospects. Thomas Insights delivers original content to help supply chain professionals and business leaders inform their decision making through leading titles including Inbound Logistics®, the Thomas Industry Update, Industrial Equipment News® (IEN®), and the Thomas Index ™.
Contacts:
Alex Kofsky - alex@rosengrouppr.com
Rita Lieberman - rlieberman@thomasnet.com
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