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Iron & Steel Manufacturing in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Iron & Steel Manufacturing Market Research Report | NAICS 33111 | Jun 2016

Steeling the show: Import competition and falling prices will hinder industry growth

The Iron & Steel Manufacturing market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Industry Statistics & Market Size
Revenue
$79bn
Annual Growth 11-16
-8.6%
Annual Growth 16-21
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Profit
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Employment
82,398
Businesses
367
Industry Analysis & Industry Trends

The Iron and Steel Manufacturing Industry has endured exceptionally difficult operating conditions over the five years to 2016. Industry revenue follows fluctuations in the world price of steel products, which reflects global supply and demand trends. Ultimately, downward pressure on steel prices due to global overcapacity, coupled with the sharp appreciation of the US dollar in recent years, has presented a significant challenge to domestic steel producers. Revenue is expected to decline as industry operators continue to struggle with historically low steel prices, poor domestic demand from industrial markets and intense competition from imports, despite increased government assistance in the form of trade policies... purchase to read more

Industry Report - Industry Locations Chapter

The Great Lakes

The largest portion of iron and steel manufacturing takes place around the Great Lakes, accounting for 30.8% of industry establishments. Ohio is home to the greatest number of industry establishments in this region, accounts for a 10.9% share, with most of these establishments concentrated near Lake Erie and the Cleveland area. It is notable that the Great Lakes region accounts for nearly half of all industry production, but less than a third of establishments; this reflects the large size of establishments in the region and further points to its dominance.

Various factors underpin the importance of the Great Lakes region as a steel producer. First, the region includes the US car industry, which is a major steel purchaser... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Iron & Steel Manufacturing Industry?

Companies in this industry manufacture pig iron, steel and ferroalloys. Pig iron is often manufactured in a blast furnace or via newer direct-reduction methods. Steel may be manufactured in basic oxygen furnaces (newly made steel) or in electric arc furnaces (recycled steel). This industry also includes operators that manufacture basic steel shapes, such as bars, plates, rods, sheets, strips and wire or form pipes and tubes from steel they have produced themselves.

Industry Products
Hot-rolled sheets and stripsCold-rolled sheets and stripsHot-rolled bars and shapesCold-FinishedSteel ingots and semi-finished shapesTubular products
 
Industry Activities
Direct reduction of iron oreManufacturing and converting pig ironProducing steel through the combination of coke and iron ore in blast furnacesProducing steel by melting recycled scrap steel, usually with pig iron, in electric arc furnacesProducing steel through the use of open-hearth furnacesManufacturing cold-rolled and hot-rolled steel productsManufacturing basic steel shapes (e.g. bar, plate, rod, sheet, strip and wire)Forming pipes and tubes from self-produced steelManufacturing and converting ferroalloys


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