NEW DELHI — February 5, 2026 — Milliken & Company is showcasing a full portfolio of advanced polymer innovations tailored to meet the evolving needs of the plastics industry at PLASTINDIA 2026 in New Delhi, India from February 5-10. At this year’s show, Milliken is featuring new product innovations, including the next advancement in enhancing polymers and shaping the future of the plastics industry.

For more than 60 years, Milliken has leveraged material science to deliver solutions that maximize resource efficiency and minimize resource use. At PLASTINDIA 2026, the company is spotlighting product breakthroughs designed to help customers meet ambitious manufacturing goals through enhanced product quality and improved operational productivity.

“PLASTINDIA 2026 reflects the momentum of India’s plastics industry,” said Wim Van De Velde, SVP and Managing Director for Milliken’s plastic additives business. “We’re looking forward to showcasing Milliken innovations that help converters use fewer resources and increase operational efficiency.”

Featured innovations at PLASTINDIA include:

• Millad ClearX™ 9000: This next-generation clarification technology for polypropylene (PP) delivers ultra-clear transparency at reduced additive loading levels. Millad ClearX™ 9000 enhances additive compatibility to help resin producers and converters experience less downtime, less waste, and quicker changeovers—delivering measurable improvements in manufacturing efficiency. Ideal for food packaging, home storage, and medical applications, it sets a new standard for value, aesthetics, and operational efficiency in transparent PP applications.

• Hyperform^® HPN^®: Milliken’s nucleating agents transform polypropylene performance. They deliver crisper aesthetics, faster cycle times, and food-contact confidence—all while improving optical clarity, reducing haze, and ensuring isotropic shrinkage. Perfect for injection molding and thin-wall applications, these solutions work across homopolymer, impact, and block copolymer PP.
• LeneX™ UGN-52: Milliken’s latest barrier improvement technology enhances the performance of HDPE and LLDPE films, containers, pouches, and pharmaceutical bottles. These solutions enable downgauging to reduce material usage and part weight while also improving barrier properties in polyethylene (PE), allowing designers to create more mono-material products, thus improving recycling compatibility.
• DeltaMax®: Performance modifiers that maximize the physical properties and processability of virgin and recycled PP. This product balances melt flow and impact strength, to increase overall performance for polypropylene. It also helps converters reduce energy by running machines with faster cycle times or lower temperatures.
• KeyPlast®: Dyes for transparency and brightness across polymer systems, including polyethylene terephthalate (PET), polystyrene (PS), polycarbonate (PC), polylactic acid, and acrylic.
• RESIST XTR™: Milliken RESIST™ XTR offers an expanded portfolio of colorants, including highly chromatic oranges designed to meet the extreme colorant performance required for demanding applications such as high-voltage battery connectors in electric vehicles (EVs). Formulated for extreme temperature processing, these high-performance colorants for engineered polymers deliver excellent thermal stability, improved lightfastness, and UV weather resistance.
• EXPLAZ™: EXPLAZ is a laser marking additive that optimizes laser marketing in polyamides. EXPLAZ’s naturally white appearance optimizes laser marking in polyamides making it uniquely suitable for white or brightly colored polyamide compounds, ensuring minimal visual impact on the base polymer. With effective performance using loadings as low as 0.2% LDR, EXPLAZ delivers both optimized processing and uncompromised aesthetics.

From ClearShield™ ultraviolet (UV) absorbers to ClearTint™ polymeric colorants and much more, Milliken’s chemical products add value across several industries. Milliken’s team is on hand throughout PLASTINDIA 2026 to provide in-depth consultations and discuss how these innovations can be adapted to enhance manufacturing processes and end products. Attendees are encouraged to schedule meetings with Milliken experts to explore customized solutions for their specific industry needs.

Visit the Milliken booth, Hall 4F, B09, at PLASTINDIA 2026 for more information.

Posted: February 6, 2026

Source: Milliken & Company

TEMPE, Ariz. — February 2, 2026 — Economic activity in the manufacturing sector expanded in January for the first time in 12 months, preceded by 26 straight months of contraction, say the nation’s supply executives in the latest ISM^® Manufacturing PMI^® Report.

The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management^® (ISM^®) Manufacturing Business Survey Committee.

“The Manufacturing PMI^® registered 52.6 percent in January, a 4.7-percentage point increase compared to the seasonally adjusted reading of 47.9 percent in December. The overall economy continued in expansion for the 15th month. (A Manufacturing PMI^® above 47.5 percent, over a period of time, generally indicates an expansion of the overall economy.) The New Orders Index expanded for the first time since August, with a reading of 57.1 percent, up 9.7 percentage points over December’s seasonally adjusted figure of 47.4 percent and its highest since February 2022 (59.7 percent). The January reading of the Production Index (55.9 percent) is 5.2 percentage points higher than December’s seasonally adjusted figure of 50.7 percent and the highest since it reached 58.1 percent in February 2022. The Prices Index remained in expansion (or ‘increasing’ territory), registering 59 percent, 0.5 percentage point higher than December’s reading of 58.5 percent. The Backlog of Orders Index registered 51.6 percent, up 5.8 percentage points compared to the 45.8 percent recorded in December and the highest reading since August 2022 (53 percent). The Employment Index registered 48.1 percent, up 3.3 percentage points from December’s seasonally adjusted figure of 44.8 percent.

“The Supplier Deliveries Index indicated a further slowdown in performance for the second month in a row after one month in ‘faster’ territory. The reading of 54.4 percent is up 3.6 percentage points from the 50.8 percent recorded in December. (Supplier Deliveries is the only ISM^® PMI^® Reports index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.)

“The Inventories Index registered 47.6 percent, up 1.9 percentage points compared to December’s seasonally adjusted reading of 45.7 percent. The Customers’ Inventories Index reading of 38.7 percent is a 4.6-percentage point decrease compared to December and the lowest since it registered 35.2 percent in June 2022.

“The New Export Orders Index reading of 50.2 percent is 3.4 percentage points higher than the reading of 46.8 percent registered in December. The Imports Index registered 50.0 percent, 5.4 percentage points higher than December’s reading of 44.6 percent.”

Spence continues, “In January, U.S. manufacturing activity returned to expansion territory, with improvements in all five subindexes that make up the PMI^® (New Orders, Production, Employment, Supplier Deliveries, and Inventories), though the Employment and Inventories indexes still remain in contraction.

“Three demand indicators (the New Orders, Backlog of Orders and New Export Orders indexes) are in expansion, and the Customers’ Inventories Index remains in ‘too low’ territory, contracting at a faster rate. A ‘too low’ status for the Customers’ Inventories Index is usually considered positive for future production. Although these are positive signs for the start of the year, they are tempered by commentary citing that January is a reorder month after the holidays, and some buying appears to be to get ahead of expected price increases due to ongoing tariff issues.

“Regarding output, the Production Index is in expansion for the third month in a row, and the Employment Index, though still in contraction, saw a 3.3-percentage point improvement. However, 66 percent of panelists still indicate that managing head counts is the norm at their companies as opposed to hiring.

“Finally, inputs (defined as supplier deliveries, inventories, prices and imports) were mixed, with the Supplier Deliveries Index indicating slower deliveries, the Inventories Index remaining in contraction and the Prices Index continuing to rise.

“Looking at the manufacturing economy, 20 percent of the sector’s gross domestic product (GDP) contracted in January, compared to 85 percent in December, and the percentage of manufacturing GDP in strong contraction (defined as a composite PMI^® of 45 percent or lower) decreased to 12 percent, compared to 43 percent in December. The share of sector GDP with a PMI^® at or below 45 percent is a good metric to gauge overall manufacturing weakness. Of the six largest manufacturing industries, five (Transportation Equipment; Machinery; Chemical Products; Food, Beverage & Tobacco Products; and Computer & Electronic Products) expanded in January,” says Spence.

The nine manufacturing industries reporting growth in January — listed in order — are: Printing & Related Support Activities; Apparel, Leather & Allied Products; Fabricated Metal Products; Primary Metals; Transportation Equipment; Machinery; Chemical Products; Food, Beverage & Tobacco Products; and Computer & Electronic Products. The eight industries reporting contraction in January — in the following order — are: Textile Mills; Wood Products; Nonmetallic Mineral Products; Electrical Equipment, Appliances & Components; Petroleum & Coal Products; Plastics & Rubber Products; Furniture & Related Products; and Miscellaneous Manufacturing.

WHAT RESPONDENTS ARE SAYING

• ” ‘Hope’ has been word of the year in the Transportation Equipment industry. Unfortunately, all the hope in the world has not materialized into order activity in 2025 or the first half of 2026. Across the board, buyers continue to stand on the sidelines. As we enter 2026, every conversation revolves around hope that the second half of 2026 starts the turnaround. It’s hard to set strategy on hope, but thanks to the uncertainty brought about by this administration, here we are.” [Transportation Equipment]
• “Although our volume is low at the moment, the impact on the latest tariff threats on the European Union will have a huge negative impact on our profit for current quoted orders. We will not be able to recover the increase tariffs in our current quotations.” [Machinery]
• “Continuing softness in the market, with December orders below average and buyers reluctant to spend despite beneficial tax policies in the U.S. Geopolitical tensions are fueling ‘anti-American’ buyer sentiment, and sales are being lost.” [Machinery]
• “Another round of emotionally charged tariffs seems imminent, changing the landscape once more. Movement of custom product out of China continues, but the progress is slow with new qualifications required for transitioned materials and assemblies.” [Computer & Electronic Products]
• “Business conditions remain uncertain. Customers are cautious. Broad-based inflation continues. The Supreme Court tariff decision looms.” [Computer & Electronic Products]
• “Growing construction markets, data centers and energy projects, are straining the contract labor availability. The trade tariff uncertainty is creating volatility in the supply chain.” [Food, Beverage & Tobacco Products]
• “A new year, with new challenges. We are moving manufacturing from China to Mexico — which will now impose tariffs on parts made in China. This push for more of a Mexican supply chain and creates some short-term supply management concerns.” [Chemical Products]
• “Confused and uninformed tariff policies continue to plague small companies, making long-term planning pointless. Companies are not making capital commitments beyond 30 days.” [Fabricated Metal Products]
• “Business conditions remain soft as we continue to miss sales, orders and profits as result of increased costs from tariffs, continued fallout from the government shutdown, and increased global uncertainty.” [Miscellaneous Manufacturing]
• “Business trends moving into 2026 feature many of the headwinds from the third and fourth quarters of 2025. While the ‘plane’ has steadied, there continues to be uncertainty and added costs through our global operations. Tariff impacts on our financial performance last year cannot be overstated, as we had a much smaller EBITDA (earnings before interest, taxes, depreciation and amortization) than previous years. While other inflationary pressures continue to hit the business, tariffs and product costs played a large role. This year, we will continue our multi-country sourcing approach to manufacture and import product from more tariff-friendly countries outside of China. But as we know, nothing is guaranteed with the current administration. We have trimmed costs everywhere inside the business, including on labor and conferences, and reduced our revenue forecast to a much more achievable mark. We’re prepared to battle throughout the year for higher profitability.” [Apparel, Leather & Allied Products]

ISM^® Manufacturing PMI^® Report data is seasonally adjusted for the New Orders, Production, Employment and Inventories indexes.
*Number of months moving in current direction.
Indexes reflect newly released seasonal adjustment factors.

COMMODITIES REPORTED UP/DOWN IN PRICE AND IN SHORT SUPPLY

Commodities Up in Price
Aluminum (26); Brass (2); Copper (7); Copper Based Products (2); Critical Minerals (3); Electronic Components; Freight; Labor; Memory (2); Precious Metals; Steel (3); Steel — Cold Rolled; Steel — Hot Rolled; Steel Products* (2); Wire Products; and Zinc.

Commodities Down in Price
Cooking Oils; Fuel (2); Gasoline (3); Plastic Resins; and Steel Products*.

Commodities in Short Supply
Electrical Components (7); Electronic Components (11); Labor (5); Memory; Rare Earth Components (3); and Steel Products.

Note: The number of consecutive months the commodity is listed is indicated after each item.
*Indicates both up and down in price.

JANUARY 2026 MANUFACTURING INDEX SUMMARIES

Manufacturing PMI^®
The U.S. manufacturing sector expanded in January for the first time in 12 months, registering 52.6 percent, a 4.7-percentage point increase compared to the seasonally adjusted reading of 47.9 percent in December. Of the five subindexes that directly factor into the Manufacturing PMI^®, three (New Orders, Production, and Supplier Deliveries) are in expansion territory, one more than in December. The Employment and Inventories indexes stayed in contraction, though both improved compared to December. “Of the six biggest manufacturing industries, five (Transportation Equipment; Machinery; Chemical Products; Food, Beverage & Tobacco Products and Computer & Electronic Products) registered growth in January,” says Spence. A reading above 50 percent indicates that the manufacturing sector is generally expanding; below 50 percent indicates that it is generally contracting.

A Manufacturing PMI^® above 47.5 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the January Manufacturing PMI^® indicates the overall economy grew for the 15th straight month. “The past relationship between the Manufacturing PMI^® and the overall economy indicates that the January reading (52.6 percent) corresponds to a 1.7-percent increase in real gross domestic product (GDP) on an annualized basis,” says Spence.

THE LAST 12 MONTHS

New Orders
ISM^®‘s New Orders Index expanded in January with a reading of 57.1 percent, an increase of 9.7 percentage points compared to December’s seasonally adjusted figure of 47.4 percent and the highest since it registered 59.7 percent in February 2022. “Of the six largest manufacturing industries, four (Machinery; Transportation Equipment; Chemical Products; and Food, Beverage & Tobacco Products) reported increased new orders. For every negative panelist comment about new orders, two comments indicated optimism about near-term demand. A number of comments, however, mentioned post-holiday replenishment and customers’ desire to get ahead of additional tariff-driven price increases as possible reasons for the increase,” says Spence. A New Orders Index above 51.9 percent, over time, is generally consistent with an increase in the Census Bureau’s series on manufacturing orders (in constant 2000 dollars).

The eight manufacturing industries that reported growth in new orders in January, in order, are: Apparel, Leather & Allied Products; Printing & Related Support Activities; Primary Metals; Machinery; Transportation Equipment; Chemical Products; Fabricated Metal Products; and Food, Beverage & Tobacco Products. The seven industries reporting a decline in new orders in January, in order, are: Wood Products; Nonmetallic Mineral Products; Textile Mills; Paper Products; Electrical Equipment, Appliances & Components; Miscellaneous Manufacturing; and Computer & Electronic Products.

Production
The Production Index expanded in January for the third month in a row, registering 55.9 percent, a 5.2 percentage point increase since December’s seasonally adjusted reading of 50.7 percent and the highest since February 2022 (58.1 percent). “Of the six largest manufacturing industries, four (Machinery; Food, Beverage & Tobacco Products; Transportation Equipment; and Chemical Products) reported increased production. Panelists had a 1-to-1.4 ratio of positive to negative comments regarding output,” says Spence. An index above 52 percent, over time, is generally consistent with an increase in the Federal Reserve Board’s Industrial Production figures.

The 11 industries reporting growth in production during the month of January — listed in order — are: Apparel, Leather & Allied Products; Printing & Related Support Activities; Fabricated Metal Products; Paper Products; Machinery; Food, Beverage & Tobacco Products; Transportation Equipment; Chemical Products; Plastics & Rubber Products; Primary Metals; and Miscellaneous Manufacturing. The six industries reporting a decrease in production in January — in the following order — are: Nonmetallic Mineral Products; Wood Products; Textile Mills; Furniture & Related Products; Electrical Equipment, Appliances & Components; and Computer & Electronic Products.

Employment
ISM^®‘s Employment Index registered 48.1 percent in January, 3.3 percentage points higher than December’s seasonally adjusted reading of 44.8 percent. “The index posted its 28th consecutive month of contraction after expanding in September 2023. Since January 2023, the Employment Index has contracted in 36 of 37 months. Of the six big manufacturing industries, two (Transportation Equipment; and Computer & Electronic Products) reported higher levels of employment in January. For every comment on hiring, there were two on reducing head counts. Companies continued to focus on accelerating staff reductions due to uncertain near- to mid-term demand. The main head-count management strategies remain layoffs and not filling open positions,” says Spence. An Employment Index above 50.3 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) data on manufacturing employment.

Of the 18 manufacturing industries, five reported employment growth in January: Fabricated Metal Products; Transportation Equipment; Computer & Electronic Products; Miscellaneous Manufacturing; and Nonmetallic Mineral Products. The 11 industries reporting a decrease in employment in January, in the following order, are: Textile Mills; Apparel, Leather & Allied Products; Wood Products; Petroleum & Coal Products; Paper Products; Electrical Equipment, Appliances & Components; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Primary Metals; Chemical Products; and Machinery.

Supplier Deliveries^†
Delivery performance of suppliers to manufacturing organizations was slower in January for the second consecutive month after one month of faster deliveries. “The Supplier Deliveries Index registered 54.4 percent, a 3.6-percentage point increase compared to the reading of 50.8 percent reported in December. Of the six big industries, five (Computer & Electronic Products; Food, Beverage & Tobacco Products; Transportation Equipment; Machinery; and Chemical Products) reported slower supplier deliveries,” says Spence. A reading below 50 percent indicates faster deliveries, while a reading above 50 percent indicates slower deliveries.

The nine manufacturing industries reporting slower supplier deliveries in January, in order, are: Paper Products; Textile Mills; Computer & Electronic Products; Primary Metals; Food, Beverage & Tobacco Products; Transportation Equipment; Fabricated Metal Products; Machinery; and Chemical Products. The three industries reporting faster supplier deliveries in January are: Plastics & Rubber Products; Nonmetallic Mineral Products; and Miscellaneous Manufacturing. Six industries reported no change in supplier deliveries in January.

Inventories
The Inventories Index registered 47.6 percent in January, up 1.9 percentage points compared to the seasonally adjusted reading of 45.7 percent in December. “None of the six big industries expanded inventories in January,” says Spence. An Inventories Index greater than 44.5 percent, over time, is generally consistent with expansion in the Bureau of Economic Analysis (BEA) figures on overall manufacturing inventories (in chained 2000 dollars).

Of 18 manufacturing industries, the four reporting higher inventories in January are: Wood Products; Nonmetallic Mineral Products; Electrical Equipment, Appliances & Components; and Miscellaneous Manufacturing. The seven industries reporting lower inventories in January — listed in order — are: Textile Mills; Computer & Electronic Products; Machinery; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Transportation Equipment; and Fabricated Metal Products. Seven industries reported no change in inventories in January.

Customers’ Inventories^†
ISM^®‘s Customers’ Inventories Index remained in “too low” territory in January; the reading of 38.7 percent is a decrease of 4.6 percentage points compared to the 43.3 percent reported in December. (For more information about the Customers’ Inventories Index, see the “Data and Method of Presentation” section below.) “January’s reading was the lowest since June 2022, when it registered 35.2 percent, which could be a key reason for the New Orders and Backlog of Orders indexes returning to expansion, accompanied by an increase in the Production Index,” says Spence.

Two industries reported customers’ inventories as too high in January: Plastics & Rubber Products; and Electrical Equipment, Appliances & Components. The 11 industries reporting customers’ inventories as too low in January, in order, are: Textile Mills; Wood Products; Transportation Equipment; Food, Beverage & Tobacco Products; Chemical Products; Fabricated Metal Products; Nonmetallic Mineral Products; Furniture & Related Products; Machinery; Primary Metals; and Miscellaneous Manufacturing.

Prices^†
The ISM^® Prices Index registered 59 percent in January, an increase of 0.5 percentage point over its December reading (58.5 percent) and indicating raw materials prices increased for the 16th straight month. Of the six largest manufacturing industries, four (Machinery; Computer & Electronic Products; Transportation Equipment; and Chemical Products) reported price increases in January. “The Prices Index reading continues to be driven by increases in steel and aluminum prices that impact the entire value chain, as well as tariffs applied to many imported goods. Higher prices were reported by 29 percent of respondents in January, up 2.6 percentage points from 26.4 percent in December but lower compared to 49.2 percent in April 2025, which was the highest share since June 2022 (65.2 percent),” says Spence. A Prices Index above 52.8 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) Producer Price Index for Intermediate Materials.

In January, the 11 industries that reported paying increased prices for raw materials, in order, are: Primary Metals; Electrical Equipment, Appliances & Components; Fabricated Metal Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Machinery; Computer & Electronic Products; Textile Mills; Wood Products; Transportation Equipment; and Chemical Products. The three industries that reported paying decreased prices for raw materials in January are: Petroleum & Coal Products; Plastics & Rubber Products; and Food, Beverage & Tobacco Products.

Backlog of Orders^†
ISM^®‘s Backlog of Orders Index registered 51.6 percent, an increase of 5.8 percentage points compared to the December reading of 45.8 percent and the highest since August 2022 (53 percent). Of the six largest manufacturing industries, Food, Beverage & Tobacco Products and Machinery reported expansion in order backlogs in January.

The five industries reporting higher backlogs in January are: Food, Beverage & Tobacco Products; Fabricated Metal Products; Primary Metals; Machinery; and Electrical Equipment, Appliances & Components. The five industries reporting lower backlogs in January are: Plastics & Rubber Products; Textile Mills; Wood Products; Computer & Electronic Products; and Nonmetallic Mineral Products. Eight industries reported no change in backlog of orders in January.

New Export Orders^†
ISM^®‘s New Export Orders Index expanded in January, registering 50.2 percent, up 3.4 percentage points from December’s reading of 46.8 percent. “Trade frictions still are a major concern: For every positive comment, there were 1.2 negative comments,” says Spence.

Of the 18 manufacturing industries, the four that reported growth in new export orders in January are: Transportation Equipment; Computer & Electronic Products; Machinery; and Electrical Equipment, Appliances & Components. The nine industries that reported a decrease in new export orders in January — in the following order — are: Wood Products; Printing & Related Support Activities; Petroleum & Coal Products; Textile Mills; Primary Metals; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Miscellaneous Manufacturing; and Chemical Products.

Imports^†
ISM^®‘s Imports Index was unchanged (50 percent) in January after a nine-month period of contraction; the figure is an increase of 5.4 percentage points compared to the reading of 44.6 percent reported in December.

Seven industries reported higher imports in January in the following order: Apparel, Leather & Allied Products; Furniture & Related Products; Primary Metals; Transportation Equipment; Plastics & Rubber Products; Miscellaneous Manufacturing; and Machinery. The seven industries that reported lower volumes in January — in the following order — are: Printing & Related Support Activities; Wood Products; Nonmetallic Mineral Products; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Chemical Products; and Computer & Electronic Products.

^†The Supplier Deliveries, Customers’ Inventories, Prices, Backlog of Orders, New Export Orders, and Imports indexes do not meet the accepted criteria for seasonal adjustments.

Buying Policy
The average commitment lead time for Capital Expenditures in January was 172 days, a decrease of 5 days compared to December. The average lead time in January for Production Materials was 79 days, an increase of two days compared to December. The average lead time for Maintenance, Repair and Operating (MRO) Supplies was 41 days, a decrease of eight days compared to December.

Posted: February 3, 2026

Source: Institute for Supply Management