Ironclad: A spike in demand from downstream industries will boost revenue

The Metal Tank Manufacturing industry has experienced some volatility over the five years to 2017. Revenue increased in the beginning of the period, as a weaker dollar led to less import penetration, prompting more US-based customers to purchase US-made products. However, revenue declined in 2015 and 2016 as collapsing oil prices halted new drilling, which decreased demand for industry products. The industry is expected to rebound in 2017, as demand from heavy engineering increases and the price of steel continues to rise. Industry imports are expected to continue growing over the five years to 2022, and the number of industry establishments is anticipated to climb as well, partly due to growing exports...purchase to read more.

Industry Statistics & Market Size
Revenue
$10bn
Annual Growth 12-17
-0.9%
Forecast Growth 17-22
Profit
Employment
35,545
Businesses
786

Industry Threats & Opportunities

  • Revenue declined as collapsing oil prices halted new drilling, which decreased demand for industry products
  • US manufacturers, unlike their foreign counterparts, can offer custom-fabricated metal tanks and vessels
  • Industrial manufacturing markets are expected to experience solid cyclical expansion over the next five years
  • Industry Report - Industry SWOT Analysis Chapter

    Despite the recent downturn in revenue, the Metal Tank Manufacturing industry is an established, mature industry. The latest decline in revenue can be directly attributed to highly cyclical demand from certain industrial markets. Over the 10 years to 2022, industry value added (IVA), which measures an industry's contribution to GDP, is expected to increase at an annualized rate of 0.5%, while GDP is forecast to grow at an annualized rate of 2.1% over the same period. Although the growth figure is promising, it is more indicative of the industry's recovery than industry expansion. The contrasting growth rates are mostly due to disproportionate losses, which the industry experienced in the past couple of years. Due...purchase to read more.

    Additional Insights for the Metal Tank Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Metal Tank Manufacturing Industry are

  • Ability to vary services to suit different needs
  • Provision of superior after sales service
  • Having a diverse range of clients
  • IBISWorld analysts also discuss how external factors such as Demand from heavy engineering construction and Demand from dairy farms in the Metal Tank Manufacturing industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Metal Tank Manufacturing Industry?

    Operators in this industry manufacture tanks, vessels and other containers by cutting, forming and joining heavy-gauge metals. Industry products include acetylene cylinders, cryogenic tanks, farm storage tanks, fermentation tanks, gas storage tanks, LPG cylinders, oil storage tanks, septic tanks, storage tanks, water tanks and vats. Industry operators may also provide valued-added services such as installation and product design.

    Industry Products
  • Metal tanks and vessels (custom fabricated and field erected)
  • Pressure tanks
  • Gas cylinders
  • Metal tanks and vessels (custom fabricated at the factory)
  • Metal storage tanks
  • Pressure tanks (24 in/more out. diameter)
  • Industry Activities
  • Manufacturing light gauge metal tanks and vessels
  • Manufacturing gas cylinders
  • Manufacturing heavy gauge metal tanks
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from heavy engineering construction
  • Demand from dairy farms
  • Demand from petrochemical manufacturing
  • World price of steel
  • Trade-weighted index

  • Current Performance
  • Fluctuating demand
  • Global advantage
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Major markets
  • Industry trends
  • Table: Metal Tank Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Metal Tank Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Heavy Engineering Construction
  • Dairy Product Production
  • Breweries
  • Wineries
  • Distilleries
  • Petroleum Refining
  • Petrochemical Manufacturing
  • Oxygen & Hydrogen Gas Manufacturing
  • Farm Product Storage & Warehousing
  • Specialized Storage & Warehousing

  • Key Selling Industries
  • Aluminum Manufacturing
  • Copper Rolling, Drawing & Extruding
  • Metal Pipe & Tube Manufacturing
  • Nonferrous Metal Refining
  • Petrochemical Manufacturing
  • Power Tools & Other General Purpose Machinery Manufacturing
  • Steel Rolling & Drawing

  • Products & Services
  • Pressure tanks
  • Metal tanks and vessels (custom fabricated and field erected)
  • Other
  • Metal tanks and vessels (custom fabricated at the factory)
  • Metal storage tanks
  • Pressure tanks (24 in/more out. diameter)
  • Gas cylinders
  • Chart: Metal Tank Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Industrial manufacturing operators
  • Petrochemical manufacturers
  • Farming industries
  • Exports
  • Chart: Major Market Segmentation for the Metal Tank Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitabilityPurchasesLabor costsOther
  • Chart: Cost Structure Benchmarking – Sector vs Metal Tank Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Metal Tank Manufacturing Industry

  • Industry Globalization
    Worthington Industries Inc., Trinity Industries Inc.,
  • Table: Worthington Industries Inc. - financial performance
  • Table: Trinity Industries Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Metal Tank Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Metal Tank Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Price of steel (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Computer-Aided Design (Cad)
  • The use of computer technology to aid the design and drafting of a part or product using software tools that can create two-dimensional drawings or three-dimensional models.
  • Offshore
  • The transfer of manufacturing operations to another country, regardless of whether the work is outsourced or stays within the corporation or company.
  • Original Equipment Manufacturer (Oem)
  • A company that manufactures products or components that are purchased by a company and retailed under the purchasing company's brand name.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Metal Tank Manufacturing Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Metal Tank Manufacturing industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Metal Tank Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Metal Tank Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Metal Tank Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear