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U.S. Iron And Steel Forging Market. Analysis And Forecast to 2030
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Article Publishing Date: Jan 20, 2023
Iron and Steel Forging Price in America Falls Slightly to $4.9 per Unit
U.S. Iron And Steel Forging Import Price in November 2022
In November 2022, the iron and steel forging price amounted to $4.9 per unit (CIF, US), waning by -1.6% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 13% month-to-month. Over the period under review, average import prices reached the maximum at $5.0 per unit in February 2022; however, from March 2022 to November 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In November 2022, the highest price was recorded for prices from South Korea ($5.8 per unit) and Germany ($5.7 per unit), while the price for China ($4.4 per unit) and India ($4.8 per unit) were amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Iron And Steel Forging Imports
In November 2022, the amount of iron and steel forging imported into the United States shrank to 1.6M units, with a decrease of -8.2% compared with October 2022 figures. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in September 2022 with an increase of 44% month-to-month. Imports peaked at 2.3M units in May 2022; however, from June 2022 to November 2022, imports stood at a somewhat lower figure.
In value terms, iron and steel forging imports shrank to $7.9M (IndexBox estimates) in November 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 with an increase of 28% against the previous month. Imports peaked at 11M units in May 2022; however, from June 2022 to November 2022, imports stood at a somewhat lower figure.
U.S. Iron And Steel Forging Imports by Country
India (513K units), China (442K units) and Mexico (256K units) were the main suppliers of iron and steel forging imports to the United States, together comprising 75% of total imports.
From January 2022 to November 2022, the biggest increases were in Mexico (with a CAGR of +3.0%), 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 ($2.5M), China ($1.9M) and Mexico ($1.3M), together accounting for 72% of total imports. South Korea, Canada, Taiwan (Chinese), Italy and Germany lagged somewhat behind, together accounting for a further 23%.
Among the main suppliers, South Korea, with a CAGR of +3.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Iron And Steel Forging Market Overview
The iron and steel forging market in the United States has been growing steadily in recent years. A number of factors have contributed to this growth, including the increasing popularity of forged iron and steel products, the growing demand for these products from a variety of industries.
The construction industry is another major consumer of forgings. Forgings are used in various applications such as heavy-duty construction equipment, pipelines, scaffolding, and cranes. The growing infrastructure development activities across the globe are expected to boost the demand for forgings in the construction industry.
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
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
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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