This is article is part of a series of monthly articles produced by Harbour Results for PMA’s MetalForming Business Edge e-newsletter. Click here to view the full collection of articles.

The data is in from the Q2 PMA Metalforming Insights is currently being analyzed and custom outputs being created by the Harbour Results analysts. And, we are excited to give you a sneak peek at some of the preliminary results. 

The Q2 Operations Study represents data from 69 facilities with 75% of respondents being metal stampers and 97% from the U.S. Automotive remains the top industry served (33%) followed by heavy truck (9.4%) and consumer products (6.8%). 

Despite the growing challenges the manufacturing industry faces with supply chain shortages, growing material prices and a talent gap, the metalforming industry remains optimistic. In fact, the industry as a whole is more optimistic than plastic processors who have decreased optimism significantly over the past two quarters. 

Also, not surprisingly, the top concerns of those surveyed are access to labor, higher cost of business and raw material pricing. With this in mind, 85% of shops are collaborating with their customers to help manage the supply chain complexities all industries are facing.

Utilization among metalformers peaked in Q4 2021 and Q1 of 22 at 80% and saw a significant drop in Q2 to 57%, which is much more in line with historical industry averages. However, respondents are forecasting utilization to be up by the end of the year to 61%. This utilization forecast is slightly below the die building industry and significantly below plastic processors who forecast year-end utilization at 77%. 

It is critically important for metalformers to focus on the aspects of business that they can control – continuing to drive efficiency and streamlined operations. By in large respondents are turning to automation to improve performance – 85% of shops under $20M and 89% of shops over $20M have either already invested in automation, plan to invest in automation or both with a focus on automated material handling, automated product movement and workcenters. Also, according to respondents, automation had the biggest positive impact on production, profit and uptime.

This high-level overview only scratches the surface of the information provided to participant. We encourage all metalformers to participate in the quarterly studies.

For those PMA members who participated in the Metal Forming Insights – Q2 Operations study will be receiving a custom analysis in July. Additionally, PMA is hosting a webinar on Thursday, July 28 where HRI’s manufacturing experts will provide a detailed look at the analysis as well as provide information on what businesses should focus on in the near- and long-term. More information on the webinar will be available on PMA’s website soon.