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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 | Apr 2014

Steely resolve: Rising downstream demand and higher exports 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
$110bn
Annual Growth 09-14
9.4%
Annual Growth 14-19
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Profit
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Employment
91,093
Businesses
445
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 over the five years to 2019. Rising consumer spending and business investment will help manufacturing and construction industries grow, bolstering sales of steel products... 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 29.2% of industry establishments. Ohio is home to the greatest number of industry establishments in this region, accounts for 9.9%. 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 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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