The American Mold Builders Association (AMBA) has launched periodic Pulse Surveys to give business leaders insight into the state of the mold building industry during the COVID-19 pandemic. The short, one-minute survey asks participants eight questions over a two-day period. More than 130 mold builders participated in the first collection period.
Just over 60% of respondents reported that they are in full operation, followed by another 23% who indicated that their operations fall between 50 and 75%, a trend that reflects well overall for the mold building industry. Ten percent of respondents indicated that 25 to 50% of their facility’s operations are up and running, while only 5% of respondents are at 25% or less. Two percent are completely shut down.
Nearly 18% reported that none of their medical industry customers were shut down, followed by another 48% who indicated that fewer than half of their customers are shut down. Despite those positive numbers, some mold manufacturers’ customers are suffering in the current climate. Nearly 14% report that half of their customers are shut down; nearly 10% report that 80 to 100% of their customers are shut down.
The majority of mold manufacturers are maintaining staffing levels, with nearly three-quarters of this survey’s respondents reporting they are 90 to 100% staffed. Another 13% are about 75% staffed. Less than 2% indicated that they are fully shut down, while just under 8% reported that they are less than 50% staffed.
Looking to the future, more than two-thirds of survey respondents intend to maintain staff levels. Over a quarter are looking to add staff, while approximately 7% reported some staff reductions.
Of the 130 respondents to this survey, more than 40% have applied for and received payroll protection funds, followed by nearly 20% who have applied, are approved, and are waiting for funds to arrive.
Broken down by markets served, 11% of mold makers serving the aerospace industry have received funds; 44% are approved and waiting for funds. Fifty-one percent of those serving the automotive industry have received funds; 19% are approved and waiting for funds. Of the mold manufacturers serving the consumer goods industry, 33% have received funds and 44% are approved and waiting for funds. Twenty-four percent of those serving the medical industry have received funds; 16% are approved and waiting for funds.
As for supply chain disruptions, just under 61% report experiencing minimal issues and/or only minor disruptions in their supply chain. More than one-quarter report no issues at all, and less than 1% are experiencing major issues and/or large and serious disruptions.
Revenue forecasting in this survey found that 60% of respondents are forecasting approximately 75% of their 2020 forecast, but these percentages vary sharply when broken down by primary markets served, said the AMBA report.
Forty-five percent of mold makers serving the aerospace market anticipate 95% or above anticipated forecast for 2020, followed by 44% who anticipate 75% of their 2020 forecast. None reported anticipating below 75% of their 2020 forecast.
Among mold makers serving the automotive industry, only 20% anticipate 95% or more of their 2020 revenue forecast, followed by 73% who anticipate three-quarters of their 2020 forecast. Approximately 6% reported anticipating 50% of their 2020 forecast; none reported anticipating below 50%.
In consumer goods, only 22% anticipate 95% or above of their 2020 forecast, followed by 78% who anticipate 75%. None reported anticipating below 75% of their 2020 forecast.
Of mold makers serving the medical market, more than 62% of respondents anticipated 95% or above of the 2020 forecast. Despite the bright outlook for those primarily serving the medical market, just over 37% anticipate only three-quarters of their 2020 forecast.