By Karen Hanna
The medical sector drew a lot of attention in the past year. But, while the medical industry will continue to grow, other markets — including household goods, construction materials and vehicle manufacturing — offer potential in 2021 and beyond for injection molders, an Engel official said.
Paul Caprio, president of Engel North America, said he also sees growth in technologies related to recycling.
“Even though these topics were not as visible in 2020, we are expecting the customers and the end-consumer market to demand sustainable solutions and a higher percentage of recycled content in products,” he said.
Engel’s diverse portfolio of technologies provided a cushion during 2020, and the pandemic fueled demand for the company’s digital solutions, said Mark Sankovitch, CEO of Engel North America. He, too, is optimistic about the future for manufacturers of non-medical parts.
“In North America, where business has been very positive after the difficulties of the first months into the year, we expect growth,” Sankovitch said. “We are very confident that various developments in all industry segments will offer opportunities for us.”
Globally, Engel projects a slight drop in sales revenue for its next fiscal year, which starts in April, compared with this fiscal year’s figure of about $1.5 billion, he said.
Sankovitch said China, where the pandemic started, is seeing the first signs of recovery.
2021 could be a transition year, from the pandemic year of 2020 to a new normal — and greater growth — in 2022. A number of areas could be key, including household goods and the automotive market, which has suffered over the last year.
“As we see people investing in their homes, there is a significantly higher demand for a wide variety of products such as bins, storage components, household appliances and building materials for construction. This sector has seen a boost over the past months, and we are confident that this trend will continue,” Caprio said.
In addition, the development of electric vehicles, led by newer companies, he said, “creates a new dynamic in the marketplace.”
Ultimately, though, in the near future, much depends on the pandemic.
“The industry will need to continue to maneuver the challenges that COVID-19 presents until a vaccine is successfully distributed. And there will, of course, be a ‘new normal.’ Whatever that looks like,” Caprio said.
Contact:
Engel Machinery Inc., York, Pa., 717-764-6818, cwww.engelglobal.com
