PlasticsWatch

Monthly Leasing and Finance Index new business up 16 percent
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the US$900 billion equipment finance sector, showed their overall new business volume for May was US$9.4 billion, up 16 percent year-over-year from new business volume in May 2021. Volume was down 10 percent from US$10.5 billion in May. Year-to-date, cumulative new business volume was up nearly 8 percent compared to 2021.

Receivables over 30 days were 1.6 percent, down from 2.1 percent the previous month and down from 1.9 percent in the same period in 2021. Charge-offs were 0.12 percent, up from 0.05 percent the previous month and down from 0.30 percent in the year-earlier period. Credit approvals totaled 76.8 percent, down from 77.4 percent in April. Total headcount for equipment finance companies was down 3.0 percent year-over-year. Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in June is 50.9, an increase from 49.6 in May.

ELFA President and CEO Ralph Petta said, “May activity for MLFI-25 equipment finance company participants shows strong origination volume and very stable credit quality metrics. The economy continues to provide jobs and corporate America, in general, reports strong balance sheets—all in the face of a waning health pandemic. Offsetting this good news is high inflation, creating havoc for many consumers, and continued supply chain disruptions and higher interest rates, which are squeezing much of the business sector. As a result, many equipment finance providers approach the summer months with guarded optimism.”

Scott Dienes, senior vice president and head of equipment finance and leasing for Associated Bank, said, “The sustained rising interest rate environment coupled with pandemic overhang and extreme supply chain bottlenecks have pushed for a greater need in the equipment financing industry. With this in mind, the market has continued a year-over-year increase in new business volume which leads us to continue to be cautiously optimistic going forward with nearly half the year complete.”

The MLFI-25 is a time series that reflects two years of business activity for the 25 companies currently participating in the survey. The latest MLFI-25, including methodology and participants, is available at www.elfaonline.org/knowledge-hub/mlfi-25-monthly-leasing-and-finance-index. The MLFI-25 is part of the Knowledge Hub, the source for business intelligence in the equipment finance industry. Visit the hub at www.elfaonline.org/knowledgehub.

Antimicrobial plastics market global forecast to 2026
According to a report by the firm Research and Markets, the antimicrobial plastics market is projected to reach US$66.7 billion by 2026, at a CAGR of 10.8 percent from US$40.0 billion in 2021. Increasing demand and consumer awareness about the importance of antimicrobial plastics are the major factors attributed to the market’s growth. However, volatility in raw material prices and government regulations on the usage of plastics in certain applications are hampering market growth. Additionally, the growth of the textile industry is expected to offer lucrative opportunities for the market players.

Silver is the most used inorganic antimicrobial additive. It is non-toxic, environmentally friendly, sustainable and has excellent safety. Silver ion is the active ingredient in silver antimicrobials. It is permanent and has high thermal stability. Silver can be incorporated into a wide variety of polymer and textile industries without changing the product aesthetics. There is a higher demand for inorganic antimicrobial additives mainly due to their non-volatile nature, high thermal stability and widespread applications. Inorganic antimicrobial additives are widely used in the healthcare, packaging and construction industries.

Asia Pacific is the largest antimicrobial plastics market. The increasing population and rapid urbanization in key countries, such as China and India, contribute to the growth of the antimicrobial plastics market. The region is estimated to be the largest, owing to the emerging players in the region and burgeoning demand from industries such as packaging, consumer goods, and automotive. Although Asia Pacific is the largest market, mature and developed regions such as North America and Europe also account for a considerable share in the global antimicrobial plastics market. Factors such as awareness towards personal hygiene and stringent regulations drive the antimicrobial plastics market in North America and Europe.

For more information about Antimicrobial Plastics Market by Additive (Inorganic, Organic), Type (Commodity Plastics, Engineering Plastics, High-Performance Plastics), Application and Region (APAC, North America, Europe, MEA, South America) — Global Forecast to 2026, visit www.researchandmarkets.com/reports/5178020/antimicrobial-plastics-market-by-additive.

Global hybrid and electric vehicle market growth
The Freedonia Group’s report Global Hybrid & Electric Vehicles forecasts global demand for hybrid and electric vehicles (HEVs) to increase 22 percent per year through 2026, almost tripling to 30.5 million units. Sales rose dramatically in 2021 despite an overall weak environment for the global automotive industry and rapid advances are expected to continue as governments worldwide provide expanded regulatory support for the adoption of EVs. Battery Electric Vehicles (BEVs) overtook full hybrids to become the most common type of HEV in 2021, according to the study:

* Government regulations supporting HEVs are increasingly attempting to boost sales of BEVs specifically, as these products are preferred due to their status as zero-emissions vehicles.

* However, supply of batteries will be a critical factor in the growth of the BEV market and automakers will need to continuously collaborate with battery firms to take full advantage of these subsidies.

The market for plug-in hybrid vehicles (PHEVs) is expected to contract quickly after peaking as early as 2022. These products were always intended as a transitional technology and aggressive targets for BEV adoption will lead to a short window for PHEV sales. In contrast, while full hybrid vehicle sales could peak by the 2030s in high-income markets, the usability of these products in nations lacking EV charging infrastructure is expected to lead to ongoing sales growth globally for the next decade.

Global Hybrid & Electric Vehicles provides historical data (2011, 2016 and 2021) and forecasts for 2026 and 2031 for global hybrid and electric vehicle demand in units by type, region and country. www.freedoniagroup.com/industry-study/global-hybrid-electric-vehicles-4423.htm.

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