U.S. Industrial Mold Imports Grew Steadily, with China Significantly Strengthening Its Share in the Import Structure

Other Fabricated Metal Products June 22, 2016
Author: Sergey Avramenko
Head of Global Markets Research Team

Photo: © AnnaElizabeth photography / Bigstockphoto 

The U.S. ranks first in global imports of industrial mold, accounting for a 12% share (based on USD). It was followed by China (10%), Mexico (9%), and Germany (7%). In 2015, U.S. industrial mold imports totaled 2,195 million USD, which was 164 million USD (8%) more than the year before.

From 2007 to 2015, U.S. industrial mold imports recorded mixed dynamics. A significant drop in 2009 was followed by steady growth over the next six years. Imports have displayed an annual increase of 11.8% throughout the post-crisis period of 2009-2015.

In 2012, U.S. industrial mold imports surpassed the pre-recession level of 2007.

Considering the confident pace of import growth, as well as the country's leading position in global imports, the U.S. remains one of the most attractive destinations for overseas suppliers.

Canada and China were the main suppliers of industrial mold into the U.S., with a combined share of 63% of total U.S. imports in 2015. China was the fastest growing supplier (+14.7% per year) from 2007 to 2015, while the import from Canada grew by +4.0% per year. Therefore, China significantly strengthened its position in the U.S. import structure, from 11% in 2007 to 23% in 2015. By contrast, Canada saw its share reduced to 40%, remaining, however, the dominant supplier.

From 2007 to 2015, the U.S. was a net importer of industrial mold. Moreover, imports grew faster than exports on average over the period under review.

The U.S. trade deficit in this sector worsened over the period under review, growing from 730 million USD in 2007 to 1202 million USD in 2014. After briefly narrowing in 2009-2010, the trade deficit began growing at a faster pace.

Source: U.S. Industrial Mold Market. Analysis And Forecast to 2020