The plastics industry can benefit from the growing opportunities offered by the UK's automotive manufacturing industry, suggests the new report
The UK’s automotive supply chain is more “vibrant and established” than it was a year ago, according to a recent poll carried out by the Society of Motor Manufacturers and Traders (SMMT).
The live survey showed almost three-quarters (73 percent) of respondents – who represented a variety of organisations across the automotive sector – agree that the domestic supply chain is in better shape now than 12 months previously.
The findings are a further endorsement of the continued recovery of the UK automotive supply chain. Automotive Council figures released in September revealed 41 percent of the average UK-built vehicle is now locally sourced – up from 36 percent in 2011.
A forecast report released by SMMT recently, meanwhile, identified a potential 28,000 new jobs to be created over the next five years.
While the rejuvenation of the supply chain is undeniable, access to finance remains an issue for many, says the SMMT, with some 41 percent of those questioned reporting having projects curtailed because the required funding was not available.