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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 | Jul 2014

Steely resolve: Rising downstream demand and higher exports will support industry recovery

IBISWorld’s Iron & Steel Manufacturing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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
97,849
Businesses
404
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 Analysis Chapter

Iron and steel manufacturers melt and refine iron ore into iron, which is usually processed into steel. Companies manufacture steel into a variety of shapes, such as bars, plates, rods, sheets, strips and wire, for downstream construction and manufacturing industries. Operators typically alloy, or mix, steel with nonferrous metals such as nickel and zinc to impart certain properties to the final product. For instance, industry participants use nickel in the production of stainless steel, which is more resistant to corrosion and better able to withstand extreme temperatures; similarly, operators use zinc to galvanize steel products and prevent them from rusting... 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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