Structural Metal Product Manufacturing in the US
Over the five years to 2019, the Structural Metal Product Manufacturing industry has expanded, albeit with a moderate degree of revenue volatility. Growing demand from the industry's downstream markets, including residential and nonresidential construction, aerospace manufacturing and transportation infrastructure, has supported demand for structural metal products. However, the industry contended with volatile input costs as steel prices and other metal inputs were affected by severe imbalances of supply and demand occurring at the midpoint of the five-year period. Over the five years to 2024, IBISWorld expects industry revenue to grow due to continued demand from the construction and manufacturing sectors. Additionally, the industry is anticipated to benefit from reduced import penetration due to additional 25.0% tariffs placed on imported structural metal products.
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.
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