Pulse Survey Reveals Business Impact of COVID-19 Measures on Mold Makers

Pulse Survey Reveals Business Impact of COVID-19 Measures on Mold Makers

Just over 60% of respondents reported that they are in full operation, followed by 23% who indicated that their operations are running between 50 and 75% of capacity. Mold makers serving the medical sector are faring better than others.

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.

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