Experts Weigh In on 2024

As we move through 2024, moldmaking continues to evolve, facing challenges and opportunities. Our editorial advisory board members share valuable insights on key trends and hot topics shaping the community this year.

A recurring theme is the critical need for workforce development. The EAB has emphasized the importance of attracting and retaining young talent through robust apprenticeship programs, promoting a culture of innovation, continuous improvement and open-mindedness toward new ideas from younger generations.

Providing hands-on experience with advanced technologies is the suggested way forward. Members recognized the need to bridge the gap between academic learning and practical skills, with some institutions offering specialized certificate programs and technology electives in areas such as mold design.

The growing emphasis is on collaboration between educational institutions and industry. This includes providing students access to advanced equipment and technologies, offering industry-sponsored projects in academic programs and developing specialized training to address the industry’s needs. These partnerships are vital for preparing the next generation of moldmakers and addressing the skills gap in the industry.

Effective leadership and mentoring tie into these workforce challenges. Members recommended empowering team members to make decisions, communicating the "why" behind projects and strategies, tailoring communication styles to different generations and creating a safe environment for idea sharing and innovation to promote creativity and problem-solving skills.

Technological advancements continue to play a significant role in addressing labor shortages and improving efficiency. Automation and robotics are at the forefront, according to the EAB, with AI integration in design and programming processes gaining traction. Advancements in 3D printing for mold building, increased use of simulation software for mold flow analysis and implementation of five-axis machining and robotic molding are enhancing productivity.

Sustainability has also remained a hot topic in moldmaking. Companies are adopting environmentally responsible practices such as minimizing non-part-related plastic waste, reducing energy consumption through eco-friendly equipment, recycling shipping materials and designing molds for longevity and ease of maintenance.

In terms of strategic planning and business development, companies are aligning their people strategy with their business strategy, identifying skills and talent required for growth and maintaining existing customer relationships while pursuing new markets. Some are leveraging social media platforms for business development and customer outreach.

They’ve also noted a few less-mentioned challenges, including rising interest rates affecting equipment investments, the increasing competency of overseas mold builders and balancing traditional expertise with innovation.

Ultimately, the EAB’s insights throughout 2024 highlight the industry's shared challenges while showcasing its resilience and adaptability, with workforce development, new technology adoption and strong leadership positioning moldmaking for a successful 2025.