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Article | September 30, 2004
U.S. shipments for packaging machinery rise in 2003; exports increase by 33%
PMMI study predicts growth in future buying activity; record back log of $1.3 billion.
U.S. packaging machinery shipments reached $4.889 billion an $82 million or 1.7% increase over 2002 according to the 10th Annual Shipments and Outlook Study conducted by the Packaging Machinery Manufacturers Institute (PMMI).
The study reveals that exports of U.S. packaging machinery jumped 33.1% in 2003 hitting $952 million the highest level of export sales in 5 years. Domestic sales were down by 3.8% for the year but a record backlog of $1.3 billion up 23.6% from 2002 reflects positive influences in the economy.
Several machine categories grew more than 5% in 2003 including inspecting detecting checkweighing (+8.4%); coding dating printing marking stamping and imprinting (+8.1%); labeling (+5.6%); and form/fill/seal bag/pouch (+5.3%). Of the 16 defined packaging machinery segments detailed in the report 12 increased sales with only four decreasing.
The results of PMMI's 10th Annual Shipments and Outlook Study show promise for the future of the industry. U.S. shipments of packaging machinery are forecast to grow at a cumulative annual rate of 3.9% over the next three years from an estimated $4.889 billion to $5.491 by 2006.
The principal objectives of the study are to collect accurate and meaningful statistics on U.S. packaging machinery industry shipments and to provide relevant market analysis and forecasts for the industry as a whole as well as for 17 individually defined machinery categories. The project was originally conceived with the underlying purpose of creating a reliable statistical base upon which subsequent industry performance can be measured annually. A copy of the Executive Summary of the 10th Annual Packaging Machinery Shipments & Outlook Study can be found here or under the Statistics & Research section of www.pmmi.org. A copy of the complete study is also available from PMMI for $2 (non-member price). To order a copy contact Paula Feldman director of statistics PMMI at 703/243-8555 or [email protected].
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