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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

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
$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 Investment Chapter

The Iron and Steel Manufacturing industry is capital intensive. Expenditures are focused heavily on steelmaking machinery and equipment rather than property, structures or vehicles. On average, for every dollar spent on labor, the industry spends $0.29 on capital machinery and equipment. In addition, the purchase of computers, data and processing equipment has been on the rise over the past five years because large integrated producers are seeking to better manage large inventories and orders.

Although the Iron and Steel Manufacturing industry remains a large employer, employment levels have fallen due to ongoing industry restructuring and reduced steel demand over the past two years... 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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