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U.S. Iron And Steel Forging Market. Analysis And Forecast to 2030

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Article Publishing Date: Oct 17, 2023

Import of Iron and Steel Forging in United States Soars by 66% to $10M in August 2023

U.S. Iron And Steel Forging Imports

In August 2023, approximately 2M units of iron and steel forging were imported into the United States; with an increase of 70% against the previous month's figure. Overall, total imports indicated a noticeable increase from August 2022 to August 2023: its volume increased at an average monthly rate of +2.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, imports increased by +70.0% against July 2023 indices. Over the period under review, imports hit record highs at 2.2M units in September 2022; however, from October 2022 to August 2023, imports stood at a somewhat lower figure.

In value terms, iron and steel forging imports skyrocketed to $10M (IndexBox estimates) in August 2023. In general, total imports indicated a pronounced increase from August 2022 to August 2023: its value increased at an average monthly rate of +2.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, imports increased by +65.6% against July 2023 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term. U.S. Iron And Steel Forging Imports By Country (Thousand USD)

COUNTRY	Import Value of Iron And Steel Forging in U.S. (thousand USD)
COUNTRY	Aug 2022	Sep 2022	Oct 2022	Nov 2022	Dec 2022	Jan 2023	Feb 2023	Mar 2023	Apr 2023	May 2023	Jun 2023	Jul 2023	Aug 2023
India	1,040	3,065	2,973	2,643	2,483	1,387	166	338	820	744	702	939	3,958
China	2,383	2,008	2,213	1,932	1,729	1,636	1,754	1,600	2,127	1,806	2,061	1,481	2,073
Canada	848	755	714	444	1,008	1,007	1,165	1,072	843	847	844	926	1,408
Mexico	927	1,001	1,025	1,294	807	1,090	831	1,444	746	1,021	971	785	953
Germany	825	877	533	203	450	335	520	596	741	885	669	347	714
Italy	647	527	413	350	166	148	246	127	408	268	197	298	262
South Korea	618	575	296	480	460	461	133	411	288	204	189	316	222
Others	454	1,084	613	760	692	681	627	420	636	926	1,072	924	373
Total	7,743	9,890	8,780	8,106	7,794	6,745	5,444	6,009	6,609	6,701	6,705	6,015	9,963

Imports by Country

India (804K units), China (410K units) and Canada (269K units) were the main suppliers of iron and steel forging imports to the United States, with a combined 75% share of total imports.

From August 2022 to August 2023, the biggest increases were in India (with a CAGR of +11.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel forging suppliers to the United States were India ($4M), China ($2.1M) and Canada ($1.4M), with a combined 75% share of total imports.

India, with a CAGR of +11.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In August 2023, the iron and steel forging price stood at $5.0 per unit (CIF, US), dropping by -2.5% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in October 2022 an increase of 13% m-o-m. Over the period under review, average import prices reached the maximum at $5.4 per unit in December 2022; however, from January 2023 to August 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In August 2023, the countries with the highest prices were Italy ($5.6 per unit) and Canada ($5.2 per unit), while the price for Mexico ($4.9 per unit) and India ($4.9 per unit) were amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Italy (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for iron and steel forging in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

NAICS 332111 - Iron and steel forging

Companies mentioned:

Fairfield Manufacturing Company
Scot Forge Company
Joy Global Surface Mining Inc.
Ameriforge Group
Wyman-Gordon Forgings
Rockford Products
Impact Forge Group
Canton Drop Forge
Sypris Technologies
GKN Driveline Newton
Park-Ohio Holdings Corp.
Ellwood Texas Forge Navasota
The Crosby Group
Ameriforge Corporation
ATI Ladish, Colfor Manufacturing
Form Hhi Tech
Park-Ohio Industries
A T I Funding Corporation
Geneve Holdings
North American Hoganas Holdings
Cordier Group Holdings
Tdy Holdings
PSEG Nuclear
Hephaestus Holdings
Ieh FM Holdings
ATI Titanium
M P I International
Handy & Harman Group
ATI Operating Holdings
Federal-Mogul Holdings Corporation

Country coverage:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023

U.S. Iron And Steel Forging Market. Analysis And Forecast to 2030

Import of Iron and Steel Forging in United States Soars by 66% to $10M in August 2023

U.S. Iron And Steel Forging Imports

Imports by Country

Import Prices by Country

Product coverage:

Companies mentioned:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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