We use cookies to improve your experience and for marketing. Read our cookie policy or manage cookies.

Accept essential cookies
Accept all cookies
Report U.S. Iron and Steel Forging Market. Analysis and Forecast to 2030 for 499$
Report Update May 10, 2024

U.S. Iron and Steel Forging Market. Analysis and Forecast to 2030

Single report
Sent by email within 24h (Mon-Fri)
What's the difference?
Subscription
Online access and download
from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

U.S.: Market for Iron And Steel Forging 2024

Market Size for Iron And Steel Forging in the U.S.

The U.S. iron and steel forging market was finally on the rise to reach $X in 2023, after four years of decline. In general, consumption recorded a slight slump. Iron and steel forging consumption peaked at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Exports of Iron And Steel Forging

Exports from the U.S.

In 2023, shipments abroad of iron and steel forging increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. Overall, exports, however, faced a precipitous slump. The exports peaked at X units in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, iron and steel forging exports skyrocketed to $X in 2023. In general, exports recorded a modest increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units) was the main destination for iron and steel forging exports from the United States, accounting for a X% share of total exports. Moreover, iron and steel forging exports to Mexico exceeded the volume sent to the second major destination, Colombia (X units), more than tenfold. The third position in this ranking was held by Australia (X units), with a X% share.

From 2020 to 2023, the average annual growth rate of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Australia (X% per year).

In value terms, Mexico ($X) remains the key foreign market for iron and steel forging exports from the United States, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2020 to 2023, the average annual growth rate of value to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Australia (X% per year).

Export Prices by Country

The average iron and steel forging export price stood at $X per unit in 2023, reducing by X% against the previous year. In general, the export price, however, enjoyed a significant expansion. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then declined significantly in the following year.

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

From 2020 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron And Steel Forging

Imports into the U.S.

In 2023, after five years of growth, there was significant decline in supplies from abroad of iron and steel forging, when their volume decreased by X% to X units. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2022, and then shrank significantly in the following year.

In value terms, iron and steel forging imports reduced markedly to $X in 2023. In general, imports, however, showed measured growth. The growth pace was the most rapid in 2015 when imports increased by X%. As a result, imports reached the peak of $X. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), India (X units) and Mexico (X units) were the main suppliers of iron and steel forging imports to the United States, with a combined X% share of total imports.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Mexico ($X) were the largest iron and steel forging suppliers to the United States, with a combined X% share of total imports. Canada, Germany, Sweden, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Sweden, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron and steel forging import price stood at $X per unit in 2023, rising by X% against the previous year. In general, the import price, however, showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were China ($X per unit) and South Korea ($X per unit), while the price for India ($X per unit) and Mexico ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

This report provides an in-depth analysis of the market for iron and steel forging 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 332111 - Iron and steel forging

Companies mentioned:

  • Fairfield Manufacturing Company
  • Scot Forge Company
  • Joy Global Surface Mining Inc.
  • Ameriforge Group
  • Wyman-Gordon Forgings
  • Rockford Products
  • Impact Forge Group
  • Canton Drop Forge
  • Sypris Technologies
  • GKN Driveline Newton
  • Park-Ohio Holdings Corp.
  • Ellwood Texas Forge Navasota
  • The Crosby Group
  • Ameriforge Corporation
  • ATI Ladish, Colfor Manufacturing
  • Form Hhi Tech
  • Park-Ohio Industries
  • A T I Funding Corporation
  • Geneve Holdings
  • North American Hoganas Holdings
  • Cordier Group Holdings
  • Tdy Holdings
  • PSEG Nuclear
  • Hephaestus Holdings
  • Ieh FM Holdings
  • ATI Titanium
  • M P I International
  • Handy & Harman Group
  • ATI Operating Holdings
  • Federal-Mogul Holdings 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023
Free Data: Iron And Steel Forging - United States
Table
Iron And Steel Forging - United States - Table
Dashboard
Iron And Steel Forging - United States - Dashboard
Report
Iron And Steel Forging - United States - Report