Structural metal product manufacturing in the U.S. is expected to grow, according to the U.S. Industry Market Research Report from IBISWorld. Structural metal product manufacturing includes metal products for industrial, utility and residential applications, according IBISWorld. Specific products are concrete reinforcing bars, railway sections, casings and other objects made of steel and other metals.
During the recession, the market for structural metal products decreased, but IBISWorld predicts a rise in demand and production in 2014 and beyond. The structural metal product market is expected to grow 5.8 percent in 2014 and an additional 1.8 percent each year for the next five years.
The costs of steel and aluminum, both key resources for structural metal products, have increased. These rising costs have been passed down to industrial customers, which in turn raises the industry's revenue. The industry in the U.S. has also faced limited competition in the last five years, which helped companies maintain their profitability, according to IBISWorld.
As metal prices grow and the structural metal product market grows, businesses in the industry can expect to expand and require a larger workforce. Companies should partner with manufacturing recruiters to fill their open positions with the most qualified workers.