U.S.: Nonferrous Forging Market 2022

Nonferrous Forging Market Size in the U.S.

The U.S. nonferrous forging market shrank slightly to $X in 2021, approximately equating the previous year. In general, consumption continues to indicate a mild setback. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Nonferrous Forging Production in the U.S.

In value terms, nonferrous forging production declined to $X in 2021. Overall, production continues to indicate a slight descent. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Nonferrous Forging Exports

Exports from the U.S.

In 2021, shipments abroad of nonferrous forging was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, nonferrous forging exports fell to $X in 2021. In general, exports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for nonferrous forging exports from the United States, with a X% share of total exports. Moreover, nonferrous forging exports to China exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a X% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+X% per year) and Canada (-X% per year).

In value terms, the largest markets for nonferrous forging exported from the United States were China ($X), Japan ($X) and Canada ($X), with a combined X% share of total exports. The UK, South Korea, Turkey, Mexico, France, Germany, Italy, Brazil, Poland and Singapore lagged somewhat behind, together comprising a further X terms of the main countries of destination, Turkey, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nonferrous forging export price stood at $X per ton in 2021, falling by -X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Nonferrous Forging Imports

Imports into the U.S.

In 2021, supplies from abroad of nonferrous forging increased by X% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, nonferrous forging imports surged to $X in 2021. Overall, imports, however, showed a deep slump. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of nonferrous forging to the United States, accounting for a X% share of total imports. Moreover, nonferrous forging imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total imports with an X% share.

From 2013 to 2021, the average annual rate of growth in terms of volume from Mexico amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and the Czech Republic (+X% per year).

In value terms, Mexico ($X) constituted the largest supplier of nonferrous forging to the United States, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2013 to 2021, the average annual rate of growth in terms of value from Mexico amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-X% per year) and China (-X% per year).

Import Prices by Country

The average nonferrous forging import price stood at $X per ton in 2021, rising by X% against the previous year. In general, the import price saw a mild increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform