Die and mold sector expects recovery in next 2 years

MANILA, Philippines — The country’s die and mold industry hopes to recover to pre-pandemic levels within the next two years as it begins to see signs of improvement, according to an industry group.

On the sidelines of the 10th Philippine Die and Mold Machineries and Equipment Exhibition (PDMEX 2023), Philippine Die and Mold Association Inc. (PDMA) president George Ong told reporters that the industry is starting to bounce back from the pandemic.

“More local die and mold firms are coming back from the pandemic,” he said.

Ong said the industry contracted by around 50 percent during the pandemic due to the drop in demand.

“The Philippine die and mold industry may have probably gone back to 75 to 80 percent of pre-pandemic level. It should already be back to that number by this time based on those I talked to.  Projects are now coming in,” he said.

During the PDMEX, Philippine Economic Zone Authority (PEZA) director general Tereso Panga stressed the importance of the die and mold industry.

“Your industry is critical as it is considered a backbone of not only the small and medium enterprises but an essential pillar in industrial development. It is said that the design and manufacture of dies and molds represent a significant link in the entire production chain because nearly all mass-produced discrete parts are formed using processes that employ dies and molds,” Panga said.

“Our ecozone locators, particularly those in the semiconductor-electronics, automotive, and aerospace sectors benefit much from the integration of local die and mold companies into the ecozone value chain,” he added.

Panga said that at present there are 285 projects engaged in the die and mold activity, generating P23.491 billion as of June in cumulative investments and creating 35,487 direct jobs.