thomas index report 2021 q3 sourcing activity snapshot

Thomas Index Report

2021 Q3 SOURCINGACTIVITY SNAPSHOT

October 2021 Report

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In our weekly Thomas IndexTM Report, we look at what our data shows to uncover sourcing trends throughout industries. These trends are based on what our users are looking for from among the more than 70,000 industrial/commercial/MRO product and service categories at Thomasnet.com®.

This eBook recaps the top sourced categories in the Thomas Network at Thomasnet.com® for Q3 2021.


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These are the TOP 20 PRODUCTS buyers were sourcing at Thomasnet.com® in Q3 2021:

1. Printed Circuit Boards (PCB)2. Medical Equipment & Supplies3. Steel4. Packaging5. Food Products6. Lumber7. Labels8. Aluminum9. Furniture

10. Hardware

11. Face Masks 12. Material Handling Equipment13. Valves14. Nitrile Gloves 15. Paper16. Fasteners17. Special & Custom Machinery

(Designers, Builders & Manufacturers)18. Automotive Parts19. Hand Sanitizers

20. Precast Concrete






Here are the TOP 20 SERVICES buyers were sourcing at Thomasnet.com® in Q3 2021.

1. Manufacturing Services2. CNC Machining3. Metal Fabrication4. Contract Manufacturing5. Plastic Injection Molding Services6. Metal Stampings7. Engineering Services8. Commercial Printing Services9. Design Engineering Services

10. Sheet Metal Fabrication

11. Machining12. Product Development13. Sewing Contractors14. Additive Manufacturing (3D Printing)15. Food Contract Manufacturing 16. Tube Fabrication & Bending Services17. Electronic Manufacturing Services (EMS)18. Job Shop Services19. Machinery Rebuilding Services

20. Third Party Logistics (3PL) Services






These categories saw the biggest increase in sourcing activity in Q3 2021, year-over-year, at Thomasnet.com®.1. CNC Turning: s1769%

2. Silicone Gaskets: s1020%3. Fire Extinguishers: s865%4. Cleaners: s662%5. Ultra Low Temperature Freezers: s658%6. Oxygen Concentrators: s642%7. Dry Ice: s536%8. Welding Electrodes: s529%9. Syringes: s519%

10. Machine Parts: s487%

11. Vinyl Fences: s475%12. Industrial Valves: s455%13. Handles: s432%14. Fencing: s417%15. Tools: s414% 16. Building Products: s387%17. Shipping Boxes: s377%18. PVC Tubing: s374% 19. Nano Powder: s368%

20. Filters: s290%

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These categories saw the biggest increase in sourcing activity in Q3 2021, quarter-over-quarter, at Thomasnet.com®.1. Builders’ Hardware: s700%

2. Flags: s573%3. Job Shop Services: s534%4. Shipping Boxes: s533%5. Advertising Novelties & Specialties: s513%6. Two-Way, Three-Way & Four-Way Valves: s513%7. Rubber Tubing: s480%8. Circuit Boards: s450%9. Filters: s448%

10. Boiler Feed Pumps: s440%

11. Pressure Sensitive Labels: s433%12. Machinery Rebuilding Services: s431%13. Fire Extinguishers: s424%14. Controls: s419%15. Hooks: s419%16. Contractors: s400%17. Laboratories: s386%18. Electronics Testing Services: s371%19. Expansion Joints: s348%

20. Medical Bags: s311%

If you are a manufacturer or industrial service provider and want to see how your digital presence stacks up against industry benchmarks as you compete for new business in the sectors mentioned here, sign up for a FREE Digital Health Check.






Revisiting Our Q3 PredictionsThomas IndexTM Sourcing Forecast Q3 2021

After predicting that sourcing for Shipping Services would rise s 5-8% QoQ, we saw the category take a slight dip in Q3 while longer-term demand rose s 59% compared to 2020 figures. Related categories, however, did see substantial surges in demand; shipping box sourcing was up a massive s 533% over Q2 as trucking services rose s 6% over the same period and s 35% year-over-year. A continued focus on e-Commerce coupled with labor shortages and shipping delays will keep shipping services a priority in the coming months.

• Shipping Services: s 5% - s 8%






Still reeling from the impacts of COVID-19 and scrambling to address continued, long-term disruptions, the food supply chain has had a very tumultuous year. We predicted that Food Contract Manufacturing would see sustained sourcing growth of s 8-11% through Q3. Our data shows that the category actually saw demand jump by s 277% over the past three months, far surpassing our expectations.

• Food Contract Manufacturing: s 8% - s 11%






With home construction, infrastructure investments, and other building projects poised to gain momentum post-COVID-19, we predicted that sourcing for Building Products would grow by s 11-14% over Q3. In fact, the category saw s 48% growth over the past three months. Looking ahead to Q4 we anticipate similar growing demand for General Contractors.

• Building Products: s 11% - s 14%






Last quarter we predicted a s 12-15% increase in sourcing for 3D Printers. While demand for the equipment actually decreased over Q3, demand for 3D Printing Services increased s 9% and sourcing for 3D Printer Filaments went up s 50% over the same period. Despite the apparent decrease in sourcing for this equipment over the past three months, interest in additive manufacturing is expected to continue growing through the end of 2021 and beyond.

• 3D Printers: s 12% - s 15%





A more energy efficient and longer-lasting counterpart to standard bulbs, LED Lights are becoming increasingly popular in industrial applications to increase safety and efficiency. We expect this shift to continue gaining momentum over the next three months — between s 5-8% — and beyond.

Thomas IndexTM Sourcing Forecast Q4 2021• LED Lights: s 5% - s 8%





Encompassing transport equipment, positioning equipment, unit load formation equipment, and storage equipment, the Material Handling Equipment category has seen an increase in activity lately in light of a post-COVID-19 resurgence of projects across the country. Over the next quarter, we expect to see an increase of s 6-9% in demand for this equipment across the platform.

Thomas IndexTM Sourcing Forecast Q4 2021• Material Handling Equipment: s 6% - s 9%





As sustainability and waste reduction become higher priorities for industrial business leaders and their customers, we anticipate sourcing for Machinery Rebuilding Services to increase between s 8-11% over the next three months as manufacturers refurbish and update existing equipment rather than replace them with completely new models.

Thomas IndexTM Sourcing Forecast Q4 2021• Machinery Rebuilding Services: s 8% - s 11%





Data from finance firm Freddie Mac says that the United States is 3.8 million homes short of meeting demand, a s 52% change from 2018. We expect that surging demand for new houses combined with other new construction projects nationwide will lead to an increase in sourcing for General Contractors, likely between s 9-12% growth QoQ for Q4 2021.

Thomas IndexTM Sourcing Forecast Q4 2021• General Contractors: s 9% - s 12%





65% Of Our Active Registered Users

Represent SMBs

1.3 Million+ Active Registered Users

on Thomasnet.com®

20,000+ New Registered Users

Added Every Month

1.6M+ Average Number of

Visits Per Month

93% Fortune 1000 Source Suppliers

on Thomasnet.com®

• Government & Military• Machinery• Manufacturing• Medical & Healthcare• Metals - Raw, Formed, Fabricated• Mining, Oil & Gas, Quarrying• Paper, Paper Products & Printing• Plastics & Rubber• Textiles, Apparel, Leather• Transportation & Logistics• Utilities & Telecommunications

These 30 top users alone average 322 supplier evaluations per day on Thomasnet.com®.

2.4 TrillionSERVING THE $2.4 TRILLION INDUSTRIAL MARKET

Our active registered users identify themselves from within the following industries:

• Aerospace & Defense• Agriculture & Forestry• Automotive• Business Services• Chemicals• Construction• Distribution, Wholesale, Retail• Education• Electrical Equipment• Electronics• Engineering & Technical Services• Food, Beverage, Tobacco

Thomasnet.com®








BY COMPANY SIZE (EMPLOYEES)n Under 100 Small Business ........... 44%

n 100-999 Midsize Business ......... 21%

n 1000+ Large Business.................. 34%

1.3 Million+ Active Registered Users on Thomasnet.com®

By Age By Job Function

REVENUE

EMPLOYEE

44%

34%

21%

BY COMPANY SIZE (REVENUE)n <$50M Small Business .................. 54%

n $50M-$1B Midsize Business ...... 20%

n >$1B Large Business ...................... 26%


REVENUE

EMPLOYEE

26%

54%

20%

BY JOB FUNCTIONn Manufacturing (Business) ...............................33%

n General Management .........................................20%

n Supply Chain/Procurement/Logistics .....18%

n Engineering/Design .............................................18%

n MRO..............................................................................11%


REVENUE

EMPLOYEE

11%

33%

18%

18%

20%

BY AGE RANGEn 18-24 .............12%

n 25-34 ............30%

n 35-44............18%

n 45-54 ...........17%

n 55-64............15%

n 65+.................5%


REVENUE

EMPLOYEE

30%

12%

18%

17%

15%

5%





Stay up to date on industry news and trends, product announcements, and the latest innovations. Visit Thomasnet.com/updates to sign up for our daily Thomas Industry Update Newsletter, including our weekly Thomas IndexTM Report video.

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BY JOB FUNCTIONn Engineering/Design .............................................10%n General Management .........................................13%n Maintenance/Repair/Operations .................7%n General Manufacturing......................................63%n Supply Chain/Procurement/Logistics .....7%

TIU JOB FUNCTION

updated TIU JOB FUNCTION

TIU INDUSTRY

13%

10%7%

7%

63%




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1 sec Every second a buyer, engineer or other purchase

decision-maker visits Thomasnet.com® to source

products and services and find a supplier






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This Sourcing Activity Report IsPowered by Thomas Industrial Data

The Thomas Manufacturing Index (TMX) was created to reflect the fundamentals of industrial activity in the US and Canada. It illustrates the impact of supply chain sourcing activity, project planning, and commercial spending confidence on the economy. Visit the TMX page today to see Thomas Industrial Data in use and get the latest overview of activity in the industrial sector. Learn more >

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thomas index report 2021 q3 sourcing activity snapshot

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