“Reshoring” manufacturing production to the U.S. could provide significant cost advantages for the chemicals and metals sectors, according to a PricewaterhouseCoopers report released Wednesday.

Lower energy and transportation costs, an educated workforce and a depreciating U.S. dollar are factors contributing to this new opportunity for manufacturers.

Shale gas has created new investment prospects for chemicals and metals producers because of more affordable energy and demand for their products from increased drilling, the report said.

PwC cited Nucor Corp.’s (IW 500/60) planned direct reduced iron, or DRI, facility in Louisiana as an example. DRI utilizes natural gas in its steelmaking process.

In addition, Dow Chemical Co. (IW 500/22) is building an ethylene plant in Texas to take advantage of lower natural gas prices.