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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 | Feb 2015

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

IBISWorld’s Iron & Steel Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Industry Statistics & Market Size
Revenue
$121bn
Annual Growth 10-15
3.2%
Annual Growth 15-20
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Profit
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Employment
102,656
Businesses
414
Industry Analysis & Industry Trends

The Iron and Steel Manufacturing industry was severely impacted by the global economic crisis, as production of iron and steel declined due to the contracting automobile and construction markets. However, recovering motor vehicle production bolstered demand in 2010 and 2011. Nevertheless, revenue declined in 2012, as the slow upturn of nonresidential construction and the deceleration in emerging markets impacted demand. Despite this slump, revenue is forecast to increase in 2015, as well as in the following five years. Generally increasing steel prices, stronger downstream demand and higher exports will drive industry growth... purchase to read more

Industry Report - Industry Analysis Chapter

Iron and steel manufacturers melt and refine iron ore into iron, which is usually processed into steel. Companies manufacture steel into a variety of shapes, such as bars, plates, rods, sheets, strips and wire, for downstream construction and manufacturing industries. Operators typically alloy, or mix, steel with nonferrous metals such as nickel and zinc to impart certain properties to the final product. For instance, industry participants use nickel in the production of stainless steel, which is more resistant to corrosion and better able to withstand extreme temperatures. Similarly, operators use zinc to galvanize steel products and prevent them from rusting... 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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