U.S.: Sheet Metal Product Market Overview 2020

Sheet Metal Product Market Size in the U.S.

The U.S. sheet metal product market was estimated at $X in 2019, surging by X% against the previous year. 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 recorded in certain years. 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 reached $X in 2019. The total output value increased at an average annual rate of +X% from 2013 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Sheet metal product production peaked in 2019 and is expected to retain 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 overseas shipments of sheet metal products, when their volume decreased by -X% to X tonnes. In general, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, exports reached the maximum at X tonnes in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

In value terms, sheet metal product exports shrank sharply to $X in 2019. Over the period under review, exports continue to indicate a significant decrease. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. Exports peaked at $X in 2014; however, from 2015 to 2019, exports failed to regain the momentum.

Exports by Country

Canada (X tonnes), Saudi Arabia (X tonnes) and Mexico (X tonnes) were the main destinations of sheet metal product exports from the U.S., with a combined X% share of total exports. These countries were followed by Bahamas, Cayman Islands, the Dominican Republic, South Korea, Trinidad and Tobago, Denmark, India, Turkey and Sweden, which together accounted for a further X 2013 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sheet metal product exported from the U.S. were Canada ($X), Saudi Arabia ($X) and Mexico ($X), with a combined X% share of total exports.

Saudi Arabia saw the highest rates of growth with regard to 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 sheet metal product export price stood at $X per tonne in 2019, growing by X% against the previous year. Over the last six years, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2014 an increase of X% y-o-y. Over the period under review, average export prices attained the peak figure in 2019 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2019, the country with the highest price was Mexico ($X per tonne), while the average price for exports to Sweden ($X per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia, while the prices for the other major destinations experienced more modest paces of growth.

Sheet Metal Product Imports

Imports into the U.S.

Sheet metal product imports into the U.S. fell rapidly to X tonnes in 2019, with a decrease of -X% compared with 2018 figures. Overall, total imports indicated strong growth from 2013 to 2019: its volume 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 2016 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2018, and then fell dramatically in the following year.

In value terms, sheet metal product imports rose sharply to $X in 2019. In general, total imports indicated a buoyant increase 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 pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2019 and are likely to continue 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., together comprising X% of total imports. These countries were followed by Belgium, New Zealand, Italy, Germany, Honduras, Taiwan, Chinese, the UK, Mexico and Panama, 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 growth rate 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, rising by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure 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 ($X per tonne), while the price for Panama ($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 9.7% share of total imports. It was followed by Italy, with a 7.9% share.

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

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In value terms, the largest markets for sheet metal product exported from the U.S. were Canada ($9.5M), Saudi Arabia ($8.2M) and Mexico ($6.5M), with a combined 39% share of total exports.

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

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The average sheet metal product export price stood at $7,049 per tonne in 2019, surging by 18% against the previous year.

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 $3,482 per tonne, rising by 40% against the previous year.