Metal Fabricators Remain Optimistic About Business Opportunities
Thursday, February 20, 2025
ELGIN, Ill., Feb. 12, 2025 /PRNewswire/ -- With the presidential election in the rearview mirror, metal fabricators are ramping up to keep pace with a reinvigorated manufacturing economy in North America, according to the Fabricators and Manufacturers Association's Forming and Fabricating Job Shop Consumption Report (FFJSCR) for 4Q 2024.
Just over a quarter (26.94%) of metal fabricators surveyed indicated that 4Q new order activity was expanding when compared to the first half of 2024, and 45.31% reported that new order activity was stable. These numbers are particularly important for smaller shops, as this represents new business and the opportunity for future growth.
Looking ahead to the first half of 2025, survey recipients were asked about their company's outlook, and 52.28% responded "positive" and 38.17% "stable." Only 9.54% said "negative," which is slightly down from 12.20% in 4Q 2023.
"Generally speaking, the business outlook for respondents has been positive and better than in previous quarters," said Dr. Chris Kuehl, FMA's economic analyst.
Even toward the close of 2024, some metal fabricators had witnessed steel and aluminum price increases, with 30.86% reporting that they had seen increases in 4Q. That was down from 2Q (44.08%) and 4Q 2023 (43.08%).
Metal fabricating companies should be in a good position to take advantage of expanding opportunities in early 2025. According to the FFJSCR, capacity utilization for these shops is in the high 60s (on a scale from 0 to 100), which is not too far from the norm in the job shop world. Operating capacity improved for 28.98% of respondents and remained stable for 52.24%. Only 18.78% saw a decline.
To learn more about the current outlook for job shops, download the FFJSCR for 4Q 2024 at https://www.fmamfg.org/campaign/job-consumption-report.
If you are interested in networking with professionals in the metal fabricating sector while gaining valuable insight into leadership trends and strategies, consider attending the FMA Annual Meeting, Feb. 25-27, at Gila River Resorts and Casinos in Chandler, Ariz. Visit www.fmamfg.org/annualmeeting for additional details.
About FMA
The Fabricators and Manufacturers Association (FMA) supports the workforce lifecycle in the metal fabricating industry by bringing awareness of manufacturing careers to the next generation, helping metal fabricators to hone their skills, and engaging them through conferences and tradeshows. Founded in 1970, FMA is a co-founder and co-sponsor of FABTECH, the industry's leading tradeshow, and the publisher of The Fabricator, The Tube and Pipe Journal, The Welder, The Fabricator en Español, Canadian Metalworking, and Canadian Fabricating & Welding.
CONTACT: Patrick Simon, psimon@fmamfg.org
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SOURCE Fabricators and Manufacturers Association (FMA)
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