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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 2014

Nerves of steel: Rising steel prices and improving demand will support industry recovery

IBISWorld’s Iron & Steel Manufacturing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$101bn
Annual Growth 09-14
7.6%
Annual Growth 14-19
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Profit
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Employment
86,908
Businesses
433
Industry Analysis & Industry Trends

This Iron and Steel Manufacturing industry is highly volatile, as it depends greatly on global supply and demand trends; steel prices change with global economic activity. Operators will experience a recovery over the next five years, after plummeting demand from downstream industries took a toll on the industry during the recession. Most significantly, the rising price of steel and growth in new technologies will benefit iron and steel manufacturers. Increased international competition, however, will characterize the industry in the years to come... purchase to read more

Industry Report - Industry Analysis Chapter

The Iron and Steel Manufacturing industry was one of the greatest victims of the global economic crisis. Revenue declined 49.7% 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 into new spaces. However, in 2010, recovering motor vehicle production boosted sales of industry products while the rising price of steel, which typically fluctuates with demand, supported higher selling prices, thereby increasing industry revenue... 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 may be 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 companies that manufacture basic steel shapes (e.g. 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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