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. 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 SWOT Analysis Chapter
The Iron and Steel Manufacturing industry is mature, indicated by its declining number of enterprises and slow technological change. Industry value added (IVA), which measures the industry's contribution to the overall economy, is estimated to increase at an annualized rate of 15.4% in the 10 years to 2019. Comparatively, US GDP is projected to grow at an average annual rate of 2.5% over the same period. However, the IVA growth rate is highly inflated due to the industry's tremendous loss in 2009 that amounted to 5.8% of revenue and is not reflective of the industry's mature state.
Merger and acquisition activity is indicative of a mature industry. The industry has struggled with increasing production costs and growing international competition... purchase to read more