Structural Metal Product Manufacturing in the US
Structural Metal Product Manufacturing industry revenue depends principally on the level of activity in downstream markets. Since these markets have grown during the five-year period to 2018, industry revenue is expected to rise. The industry's performance is also influenced by movements in the price of metals and import penetration. Metals, such as steel and aluminum, are key inputs in the manufacturing process. Although rising metal prices increase purchase costs, they also boost the value of inventory and raise selling prices. Over the five years to 2023, IBISWorld expects revenue to grow, influenced by accelerating construction activity. Still, certain challenges are on the horizon. Import penetration is likely to remain intense, even as the export market grows; overcapacity from China, the largest manufacturer of steel in the world and the most competitive low-cost, low-price producer, will challenge US companies.
Operators in this industry manufacture structural metal products such as reinforcing bars, bar joists, railway bridge sections, dam gates, transmission tower sections and railroad car racks. They also manufacture metal plate work, such as bins, culverts, hoods, ladles and containment vessels, as well as prefabricated metal buildings. The majority of industry products are used in nonresidential building and utility construction.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook