Marine Fabricator July/August 2024 - 6

Log Book News
2024 State of the industry
TENT
CONFERENCE
T
Several businesses
expressed concern
about " keeping up "
with business, tech and
computer advances,
social media and
digital marketing.
he Advanced Textile Association's
annual State of the Industry survey
shows that price pressures have eased
somewhat, and inflation and labor are still
the top concerns for most respondents.
More than 120 respondents took the
survey, representing a variety of markets.
The largest segments were end-product
manufacturers at 34%, suppliers at more
than 16%, engineering/architecture/
design firms at 12% and marine fabricators
at almost 10%. Almost two-thirds of the
responding companies have fewer than 50
employees, with 20% having four or fewer
employees. Half of the companies said that
their staffing levels were unchanged since
last year, and 47% planned to hire.
" Keeping up " a concern
Overall, the 2024 responses were similar
to last year's with revenues and prices
slightly up and many companies
planning to expand into new markets.
As with last year, the top concerns
were Inflation, finding skilled labor,
increased shipping costs, customer
price sensitivity, higher cost of employee
wages and utility/fuel costs.
Several businesses expressed
concern about " keeping up " with
business, tech and computer
advances, social media and digital
marketing, and the trend toward
sustainability-and even keeping up
with work in general.
Looking to future growth
In the next two years, 52% of
respondents plan to enter new
markets, 51% plan to purchase
equipment, 26% plan to rent or
purchase automation equipment, and
40% intend to develop new product
lines with their current capabilities.
Important strategic initiatives include
providing customized products (74%),
Inflation Comparison
at the time of the survey
How much have the raw material/fabric prices
you are paying to suppliers increased over the
last year, on average?
March 2022
8.5%
March 2023
5%
March 2024
3.5%
Inflation figure quoted is the
consumer price index.
50%
50%
40%
30%
20%
10%
0%
34.1%
49.5%
31.5%
12.9%
6.6%
2022
2023
More than
25 percent
2022
2023
10 to 25
percent
2022
2023
1 to 10
percent
4%
2022
8.8%
1.6%
2023
No change
2022
1.1%
2023
Decrease
6 Marine Fabricator | July/Aug 2024

Marine Fabricator July/August 2024

Table of Contents for the Digital Edition of Marine Fabricator July/August 2024

Marine Fabricator July/August 2024 - Cover1
Marine Fabricator July/August 2024 - Cover2
Marine Fabricator July/August 2024 - 1
Marine Fabricator July/August 2024 - 2
Marine Fabricator July/August 2024 - 3
Marine Fabricator July/August 2024 - 4
Marine Fabricator July/August 2024 - 5
Marine Fabricator July/August 2024 - 6
Marine Fabricator July/August 2024 - 7
Marine Fabricator July/August 2024 - 8
Marine Fabricator July/August 2024 - 9
Marine Fabricator July/August 2024 - 10
Marine Fabricator July/August 2024 - 11
Marine Fabricator July/August 2024 - 12
Marine Fabricator July/August 2024 - 13
Marine Fabricator July/August 2024 - 14
Marine Fabricator July/August 2024 - 15
Marine Fabricator July/August 2024 - 16
Marine Fabricator July/August 2024 - 17
Marine Fabricator July/August 2024 - 18
Marine Fabricator July/August 2024 - 19
Marine Fabricator July/August 2024 - 20
Marine Fabricator July/August 2024 - 21
Marine Fabricator July/August 2024 - 22
Marine Fabricator July/August 2024 - 23
Marine Fabricator July/August 2024 - 24
Marine Fabricator July/August 2024 - 25
Marine Fabricator July/August 2024 - 26
Marine Fabricator July/August 2024 - 27
Marine Fabricator July/August 2024 - 28
Marine Fabricator July/August 2024 - 29
Marine Fabricator July/August 2024 - 30
Marine Fabricator July/August 2024 - 31
Marine Fabricator July/August 2024 - 32
Marine Fabricator July/August 2024 - 33
Marine Fabricator July/August 2024 - 34
Marine Fabricator July/August 2024 - 35
Marine Fabricator July/August 2024 - 36
Marine Fabricator July/August 2024 - 37
Marine Fabricator July/August 2024 - 38
Marine Fabricator July/August 2024 - 39
Marine Fabricator July/August 2024 - 40
Marine Fabricator July/August 2024 - 41
Marine Fabricator July/August 2024 - 42
Marine Fabricator July/August 2024 - 43
Marine Fabricator July/August 2024 - 44
Marine Fabricator July/August 2024 - 45
Marine Fabricator July/August 2024 - 46
Marine Fabricator July/August 2024 - 47
Marine Fabricator July/August 2024 - 48
Marine Fabricator July/August 2024 - Cover3
Marine Fabricator July/August 2024 - Cover4
Marine Fabricator July/August 2024 - Expo Card 1
Marine Fabricator July/August 2024 - Expo Card 2
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-september-october-2024
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-july-august-2024
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-may-june-2024
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-march-april-2024
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-tips-and-trends-supplement-2024
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-january-february-2024
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-november-december-2023
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-september-october-2023
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-july-august-2023
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-may-june-2023
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-march-april-2023
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-january-february-2023
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-november-december-2022
https://www.nxtbook.com/ata/marinefabricator/marine-fabricator-september-october-2022
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-july-august-2022
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-may-june-2022
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-march-april-2022
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-january-february-2022
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-november-december-2021
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-september-october-2021
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-july-august-2021
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-may-june-2021
https://www.nxtbook.com/ifai/marinefabricator/marine-fabricator-march-april-2021
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https://www.nxtbook.com/ifai/marinefabricator/0520MF
https://www.nxtbook.com/ifai/marinefabricator/0320MF
https://www.nxtbook.com/ifai/marinefabricator/0120MF
https://www.nxtbook.com/ifai/marinefabricator/1119MF
https://www.nxtbook.com/ifai/marinefabricator/0919MF
https://www.nxtbook.com/ifai/marinefabricator/0719MF
https://www.nxtbook.com/ifai/marinefabricator/0519MF
https://www.nxtbook.com/ifai/marinefabricator/0319MF
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https://www.nxtbook.com/ifai/marinefabricator/1118MF
https://www.nxtbook.com/ifai/marinefabricator/0918MF
https://www.nxtbook.com/ifai/marinefabricator/0718MF
https://www.nxtbook.com/ifai/marinefabricator/0518MF
https://www.nxtbook.com/ifai/marinefabricator/0318MF
https://www.nxtbook.com/ifai/marinefabricator/0118MF
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