Marine Fabricator July/August 2021 - 6

Log Book News
TOP CHALLENGES FACED
(% Extremely/Very Challenging)
PRE-PANDEMIC (2019)
Finding skilled labor (51%)
Increasing/maintaining production capacity (30%)
Competition from low-cost global imports (29%)
(drops to 26% in 2021)
More than half of respondents
listed fi nding skilled labor and
shipping delays from suppliers as
their top challenges.
Finding new customers (28%)
Shipping delays from the supplier (29%)
CURRENT (2021)
Finding skilled labor (54%)
Shipping delays from the supplier (53%)
Finding new customers (38%)
Increasing/maintaining production capacity (37%)
Delays in delivery shipping to customers (37%)
2021 State of the Industry
report explores trends, challenges
M
ore than 300 people representing
organizations in the industrial fabrics
industry responded to an online 2021 State
of the Industry survey conducted January-
March 2021 on behalf of the Industrial
Fabrics Association International (IFAI)
about their businesses pre-pandemic
(2019) and during the pandemic (2020),
as well as their outlook for the future.
Marine Fabricators Association (MFA)
members were one of the most represented
divisions among survey respondents.
The full 2021 State of
the Industry report is
available for purchase
at the IFAI e-store at
www.IFAI.com/estore.
The full report takes a
deep dive into business
types and market segments.
Future optimism
Most respondents said they were able to
maintain the prior year's revenues and
were riding out the pandemic as the
economy begins to turn around. Most
economic predictions are for a robust
recovery in 2021, with real GDP expected
to increase upwards of 6%, driven
largely by stimulus spending. Some 62%
of respondents expect their revenues to
increase while only 5% expect a decrease
(one-third are not sure).
Overall, respondents expect an average
increase of 8.5% in annual revenues over
the next two years. Organizations serving the
hospitality markets anticipate the highest
increase in revenues (10%). Those serving
manufacturing and agriculture anticipate
slightly lower-than-average revenues.
Have news to share?
Email: erbernick@ifai.com
6 Marine Fabricator | July/August 2021
Finding workers remains top challenge
Despite the slowdown of the U.S. and
world economies in 2020, businesses
reported that their top challenge was
fi nding skilled labor. More than half
struggle to fi ll both full- and part-time
workers. In addition, problems caused
by the pandemic including employees
who lacked childcare and employees
needing to work from home were
mentioned as top-of-mind challenges.
Several specifi cally mentioned the lack
of a trained workforce as a barrier to
increased automation.
Another top challenge in 2020 was
shipping delays from suppliers, which
affected only 29% in 2019 but increased
to 53% in 2020. Delays in deliveries to
customers was also a top concern.
Continued warming
to automation
Most companies have implemented
some automation, but few (17%)
have automated more than half of
their operations. One-third plan to
invest in automation in the next two
years as part of their strategic growth
plans. Automated cutting equipment
followed by sewing capabilities are the
equipment types and functions that
are most under consideration. Among
the third (38%) of companies that have
not automated, many report that it is
not a good fi t for their primarily custom
work. Others mention the lack of skilled
labor to operate the equipment and
the lack of perceived value derived
from automation (e.g., the return on the
investment isn't enough to justify the cost
of the automation equipment).
http://www.IFAI.com/estore

Marine Fabricator July/August 2021

Table of Contents for the Digital Edition of Marine Fabricator July/August 2021

Marine Fabricator July/August 2021 - Cover1
Marine Fabricator July/August 2021 - Cover2
Marine Fabricator July/August 2021 - 1
Marine Fabricator July/August 2021 - 2
Marine Fabricator July/August 2021 - 3
Marine Fabricator July/August 2021 - 4
Marine Fabricator July/August 2021 - 5
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Marine Fabricator July/August 2021 - Cover3
Marine Fabricator July/August 2021 - Cover4
Marine Fabricator July/August 2021 - Expo Attendee Brochure 1
Marine Fabricator July/August 2021 - Expo Attendee Brochure 2
Marine Fabricator July/August 2021 - Expo Attendee Brochure 3
Marine Fabricator July/August 2021 - Expo Attendee Brochure 4
Marine Fabricator July/August 2021 - Expo Attendee Brochure 5
Marine Fabricator July/August 2021 - Expo Attendee Brochure 6
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