U.S.: Metal Tank Market 2024

Metal Tank Market Size in the U.S.

In 2023, after two years of growth, there was significant decline in the U.S. metal tank market, when its value decreased by X% to $X. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined markedly in the following year.

Metal Tank Production in the U.S.

In value terms, metal tank production totaled $X in 2023. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Metal tank production peaked at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Metal Tank Exports

Exports from the U.S.

In 2023, the amount of metal tank (heavy gauge) exported from the United States declined to X tons, shrinking by X% compared with the previous year. Over the period under review, exports, however, showed a notable increase. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, metal tank exports expanded rapidly to $X in 2023. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for metal tank exports from the United States, with a X% share of total exports. Moreover, metal tank exports to Mexico exceeded the volume sent to the second major destination, the Dominican Republic (X tons), threefold. Liberia (X tons) ranked third in terms of total exports with an X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Liberia (X% per year).

In value terms, Canada ($X), Mexico ($X) and Japan ($X) appeared to be the largest markets for metal tank exported from the United States worldwide, with a combined X% share of total exports. Australia, India, Ireland, Thailand, the Dominican Republic, Guatemala, Malaysia, Liberia, Cayman Islands and Bermuda lagged somewhat behind, together accounting for a further X%.

Ireland, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal tank export price stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Bermuda ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Tank Imports

Imports into the U.S.

After three years of growth, overseas purchases of metal tank (heavy gauge) decreased by X% to X tons in 2023. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2022, and then contracted remarkably in the following year.

In value terms, metal tank imports dropped markedly to $X in 2023. In general, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at $X in 2022, and then dropped rapidly in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of metal tank to the United States, accounting for a X% share of total imports. Moreover, metal tank imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Thailand (X% per year).

In value terms, China ($X) constituted the largest supplier of metal tank (heavy gauge) to the United States, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports. It was followed by Canada, with an X% share.

From 2013 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Canada (X% per year).

Import Prices by Country

The average metal tank import price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The import price peaked at $X per ton in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform