PMA Survey: Growing Supply-Chain Problems Continue to Challenge Metal FormersMarch 17, 2022
Metal forming companies forecast a slight decline in business conditions during the next three months, as supply-chain challenges continue to affect the industry, according to the March 2022 Precision Metalforming Association (PMA) Business Conditions Report. Only 24 percent of metal forming companies expect an increase in general economic activity in the next three months, down from 32 percent in February, and 18 percent predict a decrease in activity, compared to 10 percent in February.
Regarding the volume of incoming orders, 37 percent of metal formers surveyed by PMA expect an increase in orders in the next three months, compared to 42 percent last month, and 17 percent anticipate order volume to drop, compared to 8 percent in February.
“The March PMA Business Conditions Report reflects the fact that PMA members, like other manufacturers, face unprecedented challenges in obtaining the materials they need to meet customer demand due to strains on the global supply chain,” says PMA President David Klotz. “Members are reporting problems in sourcing steel, aluminum, and red metals. In fact, because of the Russia-Ukraine war and economic sanctions, members are reporting massive price spikes and availability issues for nickel.”
See also: Precision Metalforming Association