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Composites Index sets two all-time highs in three months
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Composites Index sustains a third month in record territory
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The Composites Index moderated in April as declining readings for new orders, production and backlog activity more than offset gains in supplier delivery and employment activity. Falling readings which remain above 50 signal a slowing expansion for that activity.
The Composites Index fell from its March reading, ending April at 62. Among the six components which constitute the Index, the supplier delivery reading moved above a reading of 80 for the first time, securing a third consecutive month of expanding activity. Further, this component reading now stands 16 points above its 2018 all-time high. Rising supplier delivery readings reflect the growing issue of slowing order-to-delivery times among upstream suppliers and the obvious consequences it has for downstream production. Aside from supplier delivery and employment activity the latter of which also reported a higher reading new orders, production and backlog all registered slowing growth. Moreover, April’s export
The Composites Fabricating Index set a new multi-year high resulting from accelerating activity in new orders, employment, backlogs and supplier deliveries.
The Composites Index rallied 6 points during February to close at a 2 ½-year-high reading of 58.3. The month’s gains were driven by a 10-point increase in new orders activity followed by a 7-point increase in backlog and supplier delivery readings and a 6-point increase in employment. Backlog, new orders, supplier delivery and employment activity all set multi-year records during the month.
The history of the Composites Index indicates that even modest changes in supplier delivery readings can have amplified affects on material prices. Fabricators should expect material prices to remain highly volatile the longer that supply chains remain disrupted.
Figure 1. Composites Index: current general business situation.
Composites Germany (Berlin, Germany), a trade association with an aim to strengthen the German composite industry, has recently made the results of its 16
th Composites Market Survey available, which identifies the latest key performance indicators (KPIs) for the fiber-reinforced plastic (FRP) market.
The survey also covered all member companies of the three major umbrella organizations of Composites Germany, including Industrievereinigung Verstärkte Kunststoffe (AVK, Frankfurt, Germany), Leichtbau Baden-Württemberg (Stuttgart, Germany) and the VDMA Working Group (Frankfurt, Germany). As before, to ensure a smooth comparison with the previous surveys, Composites Germany notes that questions in this half-year survey have been left unchanged. Once again, the data obtained in the survey was largely qualitative and related to current and future market developments.
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