U.S.: Sheet Metal Product Market Overview 2020

Sheet Metal Product Market Size in the U.S.

For the seventh year in a row, the U.S. sheet metal product market recorded growth in sales value, which increased by X% to $X in 2019. The market value increased at an average annual rate of +X% from 2013 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sheet Metal Product Production in the U.S.

In value terms, sheet metal product production rose modestly to $X in 2019. The total output value increased at an average annual rate of +X% from 2013 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. Over the period under review, production attained the maximum level in 2019 and is likely to see steady growth in years to come.

Sheet Metal Product Exports

Exports from the U.S.

In 2019, after two years of growth, there was significant decline in shipments abroad of sheet metal products, when their volume decreased by -X% to X kg. In general, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

In value terms, sheet metal product exports fell sharply to $X in 2019. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2014; however, from 2015 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Canada (X tonnes) was the main destination for sheet metal product exports from the U.S., with a X% share of total exports. Moreover, sheet metal product exports to Canada exceeded the volume sent to the second major destination, Mexico (X tonnes), sixfold. Panama (X tonnes) ranked third in terms of total exports with a X% share.

From 2013 to 2018, the average annual growth rate of volume to Canada amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-X% per year) and Panama (+X% per year).

In value terms, Canada ($X) remains the key foreign market for sheet metal product exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2013 to 2018, the average annual rate of growth in terms of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and Panama (+X% per year).

Sheet Metal Product Imports

Imports into the U.S.

Sheet metal product imports into the U.S. reduced rapidly to X tonnes in 2019, declining by -X% compared with 2018. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at X tonnes in 2018, and then fell rapidly in the following year.

In value terms, sheet metal product imports rose remarkably to $X in 2019. Over the period under review, total imports indicated strong growth from 2013 to 2019: its value increased at an average annual rate of +X% over the last six-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2019 and are likely to see steady growth in years to come.

Imports by Country

Canada (X tonnes), China (X tonnes) and South Korea (X tonnes) were the main suppliers of sheet metal product imports to the U.S., with a combined X% share of total imports. These countries were followed by Belgium, New Zealand, Italy, Germany, Honduras, Taiwan, Chinese, the UK and Mexico, which together accounted for a further X 2013 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of sheet metal product to the U.S., comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2013 to 2019, the average annual rate of growth in terms of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Italy (+X% per year).

Import Prices by Country

The average sheet metal product import price stood at $X per tonne in 2019, jumping by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The import price peaked at $X per tonne in 2015; however, from 2016 to 2019, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per tonne), while the price for the UK ($X per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the leading suppliers of sheet metal products to the U.S.?

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In value terms, Canada ($43M) constituted the largest supplier of sheet metal product to the U.S., comprising 47% of total imports. The second position in the ranking was occupied by China ($9M), with a 9.8% share of total imports. It was followed by Italy, with a 8% share.

What are the leading importers of sheet metal products from the U.S.?

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In value terms, Canada ($83M) remains the key foreign market for sheet metal product exports from the U.S., comprising 33% of total exports. The second position in the ranking was occupied by Mexico ($41M), with a 16% share of total exports. It was followed by Panama, with a 3.9% share.

What is the average import price for sheet metal products in the U.S.?

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In 2019, the average sheet metal product import price amounted to $3,529 per tonne, increasing by 42% against the previous year.