IBISWorld Platform
Answer any industry question in minutes with our entire database at your fingertips.
Iron & Steel Manufacturing in the US Industry Data and Analysis
US iron and steel manufacturers, estimated to generate $109.3 billion in revenue for 2025, face a complex financial landscape following several years of fluctuating performance. While the industry has demonstrated a current period growth of 3.8% CAGR, the current year growth is estimated at 4.4%. Lower revenues in recent years were attributed to depressed steel prices, resulting from oversupply, sluggish demand in the construction and automotive sectors and import competition. However, early 2025 has seen an uptick in prices driven partly by tariffs on imported steel, providing a glimmer of hope for improved earnings and profit, even as stricter EPA regulations on air quality and hazardous pollutants raise compliance costs.
Access this data your way
The Iron & Steel Manufacturing in the US Industry analysis is available in multiple formats to fit seamlessly into your workflow.
API Data Delivery
Feed trusted, human-driven industry intelligence straight into your platform.
Integrations
Streamline your workflow with IBISWorld’s intelligence built into your toolkit.
What's included in this industry analysis
IBISWorld's research coverage on the Iron & Steel Manufacturing industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released January 2026.
About this industry
What's this industry report about?
The Iron & Steel Manufacturing industry in the United States operates under the NAICS industry code 33111. 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 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. Related terms covered in the Iron & Steel Manufacturing industry in the United States include blast furnace, electric arc furnace , open-hearth furnace, coke, minimill, pig iron and ferroalloy.
What's included in this industry?
Products and services covered in Iron & Steel Manufacturing industry in the United States include Hot-rolled sheets and strips, Cold-rolled sheets and strips and Hot-rolled bars and shapes.
What companies are included in this industry?
Companies covered in the Iron & Steel Manufacturing industry in the United States include Nucor Corporation, Cleveland-Cliffs Inc. and Steel Dynamics, Inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Iron & Steel Manufacturing industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Iron & Steel Manufacturing industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Iron & Steel Manufacturing industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Iron & Steel Manufacturing industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Iron & Steel Manufacturing industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Iron & Steel Manufacturing industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Iron & Steel Manufacturing industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Iron & Steel Manufacturing industry in the United States.
Trusted by industry professionals
More than 6,000 businesses use IBISWorld to shape local and global economies
We were able to supplement our reports with IBISWorld’s information from both a qualitative and quantitative standpoint. All of our reporting now features some level of IBISWorld integration.
IBISWorld delivers the crisp business knowledge we need to drive our business. Whether it be serving up our major clients, winning new business or educating on industry issues, IBISWorld brings real value.
IBISWorld has revolutionised business information — which has proved commercially invaluable to exporters, investors and public policy professionals in Australia and overseas.
When you’re able to speak to clients and be knowledgeable about what they do and the state that they operate in, they’re going to trust you a lot more.
Frequently Asked Questions
What is the market size of the Iron & Steel Manufacturing industry in the United States in 2026?
The market size of the Iron & Steel Manufacturing industry in the United States is $109.3bn in 2026.
How many businesses are there in the Iron & Steel Manufacturing industry in the United States in 2026?
There are 198 businesses in the Iron & Steel Manufacturing industry in the United States, which has declined at a CAGR of 5.3 % between 2021 and 2026.
How may import tariffs affect the Iron & Steel Manufacturing industry in the United States?
The Iron & Steel Manufacturing industry in the United States is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Iron & Steel Manufacturing industry in the United States?
The Iron & Steel Manufacturing industry in the United States is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Iron & Steel Manufacturing industry in the United States grown or declined over the past 5 years?
The market size of the Iron & Steel Manufacturing industry in the United States has been growing at a CAGR of 3.8 % between 2021 and 2026.
What is the forecast growth of the Iron & Steel Manufacturing industry in the United States over the next 5 years?
Over the next five years, the Iron & Steel Manufacturing industry in the United States is expected to grow.
What are the biggest companies in the Iron & Steel Manufacturing industry in the United States?
The biggest companies operating in the Iron & Steel Manufacturing industry in the United States are Nucor Corporation, Cleveland-Cliffs Inc. and Steel Dynamics, Inc.
What does the Iron & Steel Manufacturing industry in the United States include?
Direct reduction of iron ore and Manufacturing and converting pig iron are part of the Iron & Steel Manufacturing industry in the United States.
Which companies have the highest market share in the Iron & Steel Manufacturing industry in the United States?
The company holding the most market share in the Iron & Steel Manufacturing industry in the United States is Nucor Corporation.
How competitive is the Iron & Steel Manufacturing industry in the United States?
The level of competition is high and steady in the Iron & Steel Manufacturing industry in the United States.
Cut through the noise with intelligence you can trust
