Manufacturing May Be Suffering, but Not Every Sector Faces Doom and Gloom
Things aren’t going great for the manufacturing industry right now. All major benchmarks point to contraction, trade tensions are still tangled, and glaring holes in the job market are growing wider. Every day brings new headlines proclaiming the end of American manufacturing. But not every sector of the manufacturing economy is shadowed by a raincloud. In fact, some sectors are thriving in the face of adversity.
When most people think of manufacturing, they tend to think of nuts and bolts, assembly lines, and industrial products. But manufacturing itself is a broad category. It’s the true backbone of the American economy, which means it touches almost every other sector in some way. To that end, manufacturing is a major part of some economic sectors that are growing immensely. While manufacturing itself retracts, these few manufacturers are growing.
- Injection molding: Injection molding manufacturing is growing by leaps and bounds thanks to the rise in thermoplastics. From medical devices to consumer goods, thermoplastic injection molding is one segment of the manufacturing economy that’s booming. It’s free of high raw material costs and expensive labor costs, making it a modern, viable manufacturing solution.
- Mining support: Despite major environmental pushback on mining and drilling, manufacturing for mining support is growing. Why? Because as natural resource extractors face headwinds, they’re adopting smarter, more efficient extraction processes. These processes demand precision machinery and equipment, which are in high demand. Someone needs to manufacture them! And let’s not forget that oil, natural gas, and coal are still vital parts of our economy.
- Building finishing: Construction is a growing economy in and of itself. Building finishing is largely supported by manufacturing, since most finishing is mass-produced and premanufactured. Molding, fixtures, HVAC, and much more fall into this category ― all of which are in high demand as the country continues to build out, renovate, and refurbish its way to modernity.
- Specialty freight and trucking: Freight faces a number of headwinds. That’s said, specialty freight is on the rise! The problem with specialty freight is that it requires a major manufacturing component. Specially outfitted trucks and trailers, add-on complements, custom fabrications, etc. Specialty freight and manufacturing are intertwined, which means demand for freight drives demand for manufacturing.
These few industries are only a subset of the greater manufacturing economy. But they’re important reminders that manufacturing isn’t decaying ― it’s merely contracting, as it’s known to do as part of a cyclical economy. These strong reminders of manufacturing’s importance may even be able to jump-start other manufacturing sectors in as little as a year, depending on economic swings.
The reason injection molding, mining support, and other specialty manufacturing services are thriving is simple: Manufacturing is changing. The factory of today isn’t the factory of tomorrow. The way manufacturing contributes to the economy is changing, evolving into a support service more than production. As manufacturers embrace this support role ― like the above examples have ― the bigger the role they’ll play in the industrial economy of the future.
