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