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“International supply lines remain tangled after months of disruptions that customers tell us are delaying imports of on-demand materials and causing production to stabilize despite the increased order book. Provisioning challenges, particularly for companies with large networks, will take months to resolve. In response, companies may consider creating their own certainty by transferring supply chains. This would have a positive long-term influence on UK manufacturing, subject of course to UK capacity.
“The growing order book combined with new opportunities emerging from green recovery, including planned gigafactories in Coventry and the Northeast, also represent a promising prospect for the industry. This year, we expect more and more manufacturing companies to focus on further reducing their carbon footprint.
But big challenges remain for some, including those in aerospace supply chains. Despite some hopes that the expected lifting of restrictions in the spring could boost passenger volume and demand, it will take some time for the sector to recover.
“Many manufacturers will seek certainty about the extension of the license and other trade relief measures from the Chancellor this Wednesday as they continue to guard against headwinds.”
