This press release was issued on June 19, 2021
NEW Thomas Report: Shipping Limitations Forecast for Q3, Drive Up Demand, Prices Across Industrial Sector
3D Printers, Food Manufacturing, Building Products Among Other Predicted Growth Sectors
New York, NY (July 19, 2021) – Thomas, the leader in product sourcing, supplier selection, and marketing solutions for industry, today released its ‘2021 Q2 Sourcing Activity Snapshot,’ identifying the top products and services sourced by North American manufacturers, as well as sharing predictions for Q3 industrial sourcing trends.
The Q2 sourcing data recap highlights trends within the U.S. manufacturing and industrial economy drawn from anonymized, aggregated sourcing activity across the Thomasnet.com® platform, which serves 1.3+ million active registered users and 14 million industrial professionals. Q3 trends are also expected to be impacted by reshoring activities, shipping and transportation delays, as well as further investment in digital transformation to help drive the sector forward.
“As industry continues to adapt to supply chain disruptions and the aftermath of the pandemic, we are seeing strong demand across a wide range of categories, reflecting a continued recovery,” said Thomas President and CEO Tony Uphoff. “Our Sourcing Activity Snapshot shows that companies are embracing advanced manufacturing technology to both meet increased demand and overcome supply chain challenges. The report shows a vibrant manufacturing market overall and provides insights into specific areas of sourcing that will continue to impact industry and the broader economy as we move into Q3.”
The full 2021 Q2 Sourcing Activity Snapshot is now available for dowload. A brief overview includes:
Top 10 2021 Q2 Manufacturing Trends:
2021 Q3 predictions include:
Shipping Services: 5-8% Projected Increase
Due to the nationwide shortage of truck drivers and exponential increase in e-Commerce, industrial companies will face challenges with shipping logistics that may cause substantial delays. As a result, Thomas anticipates a 5-8% increase in sourcing for Shipping Services (alongside predicted growth in Trucking Services) during Q3.
Food Contract Manufacturing: 8-11% Projected Increase
Still reeling from the impacts of COVID-19 and scrambling to address continued, long-term disruptions, the food supply chain has had a tumultuous first half of 2021. Thomas expects related categories, specifically Food Contract Manufacturing, to see sustained sourcing growth over Q3 of 8-11%.
Building Products: 11-14% Projected Increase
While recent price surges for key materials like lumber have slowed production during Q2, growing momentum in home construction, infrastructure investments, and other building projects will drive 11-14% sourcing activity growth in the category of Building Products through Q3 2021.
3D Printers: 12-15% Projected Increase
Ongoing investments in digital transformation and the increasing adoption of Industry 4.0 technologies will continue to shape the industrial sector in Q3. As a result, sourcing for 3D Printers for use in a broad range of additive manufacturing applications industry-wide will increase by 12-15% over the next quarter.
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