U.S. Steel Foundries (Except Investment) Market. Analysis And Forecast to 2030
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View PricingSteel Foundry Price in the United States - 2023
Contents:
- Steel Foundry Price in the United States (CIF) - 2023
- Steel Foundry Price in the United States (FOB) - 2022
- Steel Foundry Imports in the United States
- Steel Foundry Exports in the United States
Steel Foundry Price in the United States (CIF) - 2023
In July 2023, the average steel foundry import price amounted to $5,039 per ton, picking up by 6.4% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +2.1%. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 28% month-to-month. The import price peaked at $5,062 per ton in May 2023; however, from June 2023 to July 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Germany ($13,455 per ton), while the price for China ($3,260 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Argentina (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Steel Foundry Price in the United States (FOB) - 2022
In 2022, the average steel foundry export price amounted to $9,826 per ton, leveling off at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 78% against the previous year. Over the period under review, the average export prices hit record highs at $16,413 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($51,743 per ton), while the average price for exports to South Korea ($6,241 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.
Steel Foundry Imports in the United States
Steel foundry imports into the United States skyrocketed to 78K tons in 2022, rising by 16% on 2021 figures. Overall, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, steel foundry imports surged to $308M in 2022. The total import value increased at an average annual rate of +9.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Steel Foundry in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 88.6 | 70.7 | 83.2 | 122 | 11.3% |
| India | 26.9 | 20.1 | 46.0 | 48.9 | 22.0% |
| Brazil | 21.6 | 15.6 | 21.6 | 25.9 | 6.2% |
| Canada | 10.0 | 11.1 | 12.7 | 16.2 | 17.4% |
| South Korea | 5.6 | 9.2 | 8.8 | 13.7 | 34.7% |
| Austria | 7.3 | 12.9 | 13.5 | 13.2 | 21.8% |
| Germany | 18.0 | 20.6 | 23.0 | 12.5 | -11.4% |
| Italy | 7.4 | 6.4 | 8.3 | 8.8 | 5.9% |
| Argentina | 6.5 | 7.0 | 7.1 | 8.1 | 7.6% |
| South Africa | 8.3 | 4.2 | 5.6 | 5.0 | -15.5% |
| France | 1.1 | 10.4 | 8.3 | 4.0 | 53.8% |
| Sweden | 7.0 | 7.1 | 5.0 | 3.8 | -18.4% |
| Others | 29.5 | 27.0 | 23.3 | 26.4 | -3.6% |
| Total | 238 | 222 | 266 | 308 | 9.0% |
Top Suppliers of Steel Foundry to the United States in 2022:
- China (38.7K tons)
- India (12.7K tons)
- Brazil (5.0K tons)
- Argentina (3.1K tons)
- South Korea (3.0K tons)
- Austria (2.6K tons)
- Canada (2.0K tons)
- Germany (1.6K tons)
- South Africa (1.4K tons)
- Italy (1.3K tons)
- France (1.3K tons)
- Sweden (0.9K tons)
Steel Foundry Exports in the United States
For the fourth year in a row, the United States recorded growth in shipments abroad of steel foundries (except investment), which increased by 10% to 864 tons in 2022. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when exports increased by 96% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, steel foundry exports rose rapidly to $8.5M in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +22.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Steel Foundry in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 0.2 | 1.1 | 2.8 | 4.3 | 178.1% |
| Canada | 3.4 | 3.2 | 2.8 | 1.9 | -17.6% |
| Mexico | 0.1 | N/A | 0.4 | 0.5 | 71.0% |
| Others | 0.9 | 1.5 | 1.6 | 1.7 | 23.6% |
| Total | 4.6 | 5.8 | 7.7 | 8.5 | 22.7% |
Top Export Markets for Steel Foundry from the United States in 2022:
- South Korea (696.1 tons)
- Canada (101.6 tons)
- Mexico (27.2 tons)
This report provides an in-depth analysis of the steel foundry market 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 331513 - Steel foundries (except investment)
Companies mentioned:
- Union Electric Steel Corporation
- Hensley Industries
- Bradken
- Spuncast
- Winsert
- Sivyer Steel Corporation
- Columbia Steel Casting Co
- Eagle Alloy
- Huron Casting
- The Harrison Steel Castings Co
- ME Global
- Maynard Steel Casting Company
- Omaha Steel Castings Company
- The Frog Switch and Manufacturing Company
- Columbus Steel Castings Co
- Metaltek International
- Bradken - Atlas
- Wollaston Alloys
- Alcon Industries
- Wyman-Gordon Investment Castings
- Steel Dynamics Columbus
- Matrix Metals
- Southern Cast Products
- Texas Steel Partners
- NFC Castings
- Jmac Development
- Nucor Steel Seattle
- Isg Lackawanna
- Bradken - Atchison/St. Joseph
- Worthington Steelpac Systems
- E2 Acquisition 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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