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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 | Oct 2014

Steely resolve: Rising downstream demand and higher exports will support industry recovery

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
$116bn
Annual Growth 09-14
10.5%
Annual Growth 14-19
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Profit
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Employment
100,250
Businesses
410
Industry Analysis & Industry Trends

The Iron and Steel Manufacturing industry was severely impacted by the global economic crisis. Revenue declined in 2009 after several years of growth, which was driven by increasing demand from downstream industries and rising steel prices. Demand from the industry's largest markets, automobile manufacturing and commercial building construction, dropped sharply as consumers reduced spending and businesses cut investment in new spaces. In the five years to 2019, the industry will benefit from stronger market conditions. Rising consumer spending and business investment will help manufacturing and construction industries grow, bolstering sales of steel products... purchase to read more

Industry Report - Starting a New Business Chapter

Barriers to entry into the Iron and Steel Manufacturing industry are high due to the concentration of major competitors and the large input costs and capital needed to operate and maintain existing operations. Large facilities generally produce greater output, but only the largest firms with high capital resources are able to acquire and operate them.

The four largest players, which control about half of the industry, also control contracts with the industry's major buyers, increasing barriers to entry. Product categories in the industry are also heavily saturated and controlled by established players, giving new entrants little means to enter the marketplace... 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 and reinforced barsSteel platesHeavy structural shapesPipes and tubingTin mill 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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