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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 | Dec 2015

Steeling the show: Import competition and falling prices will interrupt industry recovery

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
$96bn
Annual Growth 10-15
-1.6%
Annual Growth 15-20
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Profit
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Employment
97,414
Businesses
387
Industry Analysis & Industry Trends

The Iron and Steel Manufacturing industry was severely impacted by the global economic crisis, as production of iron and steel declined due to the contracting automobile and construction markets. However, recovering motor vehicle production bolstered demand in 2010 and 2011. Nevertheless, revenue declined in 2012, as the slow upturn of nonresidential construction and the deceleration in emerging markets impacted demand. Despite strengthening demand, revenue is forecast to decline in 2015 due to falling world steel prices... purchase to read more

Industry Report - Starting a New Business Chapter

Barriers to entry into the Iron and Steel Manufacturing industry are high due to the concentration of major competitors and the large input costs and capital needed to operate and maintain existing operations. Large facilities generally produce greater output, but only the largest firms with high capital resources are able to acquire and operate them.

The four largest players, which control more than half of the market, also control contracts with the industry’s major buyers. Product categories in the industry are also heavily saturated and controlled by established players, giving new entrants little means to enter the marketplace. Nonetheless, new technology continues to make smaller plants more competitive, especially mini-mills linked with electric arc furnaces... 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 cold-finished barsSteel ingots and semi-finished shapesPipes and tubing
 
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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