Driver's lead: The state industry has shrunk due to its vast reliance on the automotive sector

The Iron and Steel Manufacturing industry in Ohio makes a wide variety of products such as steel ingots, wires and pipes, as well as cold- and hot-rolled steel sheets, strips and bars. Over the five years to 2018, the industry is expected to fall at an annualized rate of 4.3% to $10.8 billion, including an expected fall of 4.7% in 2018. Volatile demand conditions in the industry’s key end-markets such as the automotive and construction sectors, along with fluctuating global steel prices, have hurt industry revenue and profitability over the past five  years.While the national industry exhibits a diversified customer base, downstream demand from automotive and automotive parts suppliers dominates industry revenue in Ohio...purchase to read more.

Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 13-18
-4.3%
Forecast Growth 18-23
Profit
Employment
12,128
Businesses
57

Industry Threats & Opportunities

  • More than half of total industry revenue is generated from automotive customers
  • Additional Insights for the Iron & Steel Manufacturing in Ohio Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Iron & Steel Manufacturing in Ohio Industry are

  • Ability to pass on cost increases
  • Output is sold under contract
  • Marketing of differentiated products
  • IBISWorld analysts also discuss how external factors such as World price of steel and Demand from car and automobile manufacturing in the Iron & Steel Manufacturing in Ohio industry impact industry performance..

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    What's in this report

    What is the Iron & Steel Manufacturing in Ohio 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
  • Steel ingots and semifinished shapes and forms
  • Hot-rolled steel bars, bar shapes, plates and structural shapes
  • Cold-rolled steel sheet and strip metal
  • All other
  • Industry Activities
  • Direct reduction of iron ore
  • Manufacturing and converting pig iron
  • Producing steel through the combination of coke and iron ore in blast furnaces
  • Producing steel by melting recycled scrap steel, usually with pig iron, in electric arc furnaces
  • Producing steel through the use of open-hearth furnaces
  • Manufacturing cold-rolled and hot-rolled steel products
  • Manufacturing basic steel shapes (e.g. bar, plate, rod, sheet, strip and wire)
  • Forming pipes and tubes from self-produced steel
  • Manufacturing and converting ferroalloys
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of steel
  • Demand from car and automobile manufacturing
  • Industrial production index
  • Value of private nonresidential construction in Ohio

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Iron & Steel Manufacturing in Ohio Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Construction
  • Metal Pipe & Tube Manufacturing
  • Steel Rolling & Drawing
  • Ferrous Metal Foundry Products
  • Car & Automobile Manufacturing
  • SUV & Light Truck Manufacturing
  • Truck & Bus Manufacturing
  • Truck, Trailer & Motor Home Manufacturing

  • Key Selling Industries
  • Coal Mining
  • Copper, Nickel, Lead & Zinc Mining
  • Electric Power Transmission
  • Iron Ore Mining

  • Products & Services
  • All other
  • Cold-rolled steel sheet and strip metal
  • Steel ingots and semifinished shapes and forms
  • Hot-rolled steel bars, bar shapes, plates and structural shapes
  • Chart: Iron & Steel Manufacturing in Ohio Industry Products and Services Segmentation

  • Major Markets
  • Automotive
  • All other
  • Construction
  • Chart: Major Market Segmentation for the Iron & Steel Manufacturing in Ohio Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Iron & Steel Manufacturing in Ohio

  • Basis of Competition
    Barriers to Entry
    AK Steel Holding Corp., Worthington Industries Inc., Nucor Corporation, Republic Steel Inc.,
  • Table: AK Steel Holding Corp. - financial performance
  • Table: Worthington Industries Inc. - financial performance
  • Table: Nucor Corporation - financial performance
  • Table: Republic Steel Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Iron & Steel Manufacturing in Ohio 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 Iron & Steel Manufacturing in Ohio Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Price of Steel (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Blast Furnace
  • A furnace used in integrated steelmaking, in which coke and iron ore react together under a hot air flow to form steel.
  • Coke
  • A high-carbon solid produced by heating coal in an oven to drive off volatile components.
  • Electric Arc Furnace
  • A furnace for scrap-based steelmaking in which scrap steel is melted and recycled.
  • Ferroalloy
  • An iron alloy with a high proportion of one or more other elements that is used in the production of steel as a raw material.
  • Minimill
  • A steel producer that obtains most of its iron from recycled scrap steel and primarily uses electric arc furnaces.
  • Open Hearth Furnace
  • A furnace for steelmaking in which carbon and other impurities are burnt off pig iron to produce steel.
  • Pig Iron
  • The intermediate product of smelting iron ore with coke; usually transferred in molten form to steelmaking furnaces.
  • What Our Customers Say

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    IBISWorld’s industry research report on Iron & Steel Manufacturing in Ohio contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

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    This report on Iron & Steel Manufacturing in Ohio:
    • 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 Iron & Steel Manufacturing in Ohio 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

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