2024 Outlook
While the tail end of 2023 posed some challenges due to shifts in the market the overall prospect for 2024 is looking up. The year ahead is geared toward growth in all of Blue’s manufacturing divisions but with more focus on expanding the recently added profile wrapping division. Let's take a look at the American manufacturing climate and how that dovetails into Blues Inc.'s strategies for 2024.
2024 Outlook in the U.S.
Manufacturing in the U.S. remained unchanged at 46.7 PMI. While the economy, however, continues to expand, at a 5.2% annualized rate in the third quarter. Manufacturers of food, beverages, and transportation equipment reported growth. Industries that report contraction include paper products, electrical equipment, appliances, computers, and electronic products. One strong area of growth is in construction spending.
A report from the Commerce Department's Census Bureau showed construction spending on the rise in 2023, fueled by single-family homebuilding.
New single-family building permits managed to tick up slightly in November—the 10th consecutive monthly increase. This steady increase in new home construction opens the door for more innovative building products that add long-lasting value for savvy home buyers. Homeowners are increasingly looking for sustainable materials. Climate changes that spur more erratic weather patterns have increased the need for products that are strong and durable, low maintenance, but also look high-end. Blue Inc.’s investment in profile wrapping is a smart move for growth in 2024.
Blue + Profile Wrapping
While mainstream in Europe, profile wrapping is relatively new in the U.S. Profile wrapping can be used in a wide variety of products but in the U.S. building materials is a growing market. The main areas are exterior materials such as aluminum and PVC extrusions. Blue Inc. entered the market with one profile wrapping machine in late 2023, from the leading machine manufacturer TAKA, and has a second machine to come online in early 2024. The focus of production for these two machines is PVC extrusions for decking and trim products. The growing market for durable decking materials that can withstand the elements is a big selling point for buyers.
PVC decking posts wrapped with woodgrain film.
Blue is offering this leading-edge solution to several manufacturers of PVC extrusions for decking, vinyl fences, and railings. With a reputation for providing a superior product and outstanding customer service, Blue has quickly become a trusted partner in the profile wrapping industry.
2nd TAKA Profile Wrapping Machine &
Profile Wrapping Symposium
Our second TAKA profile wrapping machine has arrived. This new addition will allow for double the output for larger runs to reduce production time, add flexibility for shorter runs for separate profile wrapping runs, and shorten the turnaround time for our clients. We’re excited to offer more to our clients and see them succeed.
And just in time! On April 10th, 2024 Blue Inc will host a Profile Wrapping Symposium. Presented by WPR/TAKA and Renolit this symposium will cover an overview of the industry, in-depth technical training, and hands-on demonstrations from leading experts, featuring Maurizio Carrer, TAKA Academy Director and author of Windows Profile Wrapping.
Space is Limited. To learn more and register for this event go to www.wraptak.com or call 1-800-404-5401.
What is Profile Wrapping?
At Blue Inc. we offer leading-edge manufacturing and material processing services for OEMs across a growing number of industries including Building Materials, Furniture, Cabinet, and Storage, to name a few. One of the material processing services we offer is profile wrapping.