Grooved product report: February 2017
The education market is showing growth due to both population movement and growth. The commercial market is seeing some large projects in design with a few of those projects entering construction in 2Q 17.
The industrial market is trending upward in the food and beverage, power, manufacturing and large government segments. The oil and gas market continues to be flat, but rig counts are on the rise in certain plays across the U.S. This is due to refined drilling procedures and a lower cost to produce oil, which has certain participants in this sector optimistic. Although with oil inventories continuing to be elevated, the uptick in drilling may potentially dampen.
Keen eyes are monitoring rising raw material prices, which may lead to an eventual price increase. Also worth noting, as contractors continue to face an aging workforce without appropriate backfill from the younger generation, they continue to trend more receptively to grooved systems.