Coatings World - September 2013

Machinery equipment wholesalers, machine shops, architectural and structural metals manufacturing and industrial machinery manufacturing are among the top ten fastest growing industries.

by Phil Phillips, PhD

Contributing Editor phillips@chemarkconsulting.net

With manufacturing having played a pivotal role in the economic re- covery, it’s no surprise that several manufacturing industries are among the stron-gest growing over the last 12 months, based on current estimates.

Machinery equipment wholesalers (NAICS 4238), machine shops (NAICS 3327), architectural and structural metals manufacturing (NAICS 3323) and industrial machinery manufacturing (NAICS 3332) are among the top ten fastest growers.

“It’s possible that those are tied together as businesses have started to use some of their cash to invest in needed equipment and upgrades,” said Sageworks analyst Brad Schaefer. “All of those took really big hits in 2009 because companies weren’t investing in a lot of equipment.” Other industries showing up in the top ten fastest-growing industries over the last 12 months are related to petroleum and other forms of energy. Schaefer noted that the oil boom in the Northwest Plains, increased shallow water drilling in the Gulf of Mexico and other operations are providing new opportunities for companies to expand their drilling