U.S. Iron And Steel Forging Market. Analysis And Forecast to 2030
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View PricingPrice for Iron and Steel Forging in the United States - 2023
Contents:
- Price for Iron and Steel Forging in the United States (CIF) - 2023
- Price for Iron and Steel Forging in the United States (FOB) - 2022
- Imports of Iron and Steel Forging in the United States
- Exports of Iron and Steel Forging in the United States
Price for Iron and Steel Forging in the United States (CIF) - 2023
The average iron and steel forging import price stood at $5.3 per unit in July 2023, approximately reflecting the previous month. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 14% m-o-m. The import price peaked at $5.6 per unit in December 2022; however, from January 2023 to July 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the countries with the highest prices were China ($5.6 per unit) and Germany ($5.4 per unit), while the price for Italy ($5.0 per unit) and Mexico ($5.0 per unit) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Iron and Steel Forging in the United States (FOB) - 2022
The average iron and steel forging export price stood at $36 per unit in 2022, falling by -20.1% against the previous year. In general, the export price, however, recorded buoyant growth. The pace of growth was the most pronounced in 2020 an increase of 300%. Over the period under review, the average export prices attained the maximum at $45 per unit in 2021, and then declined markedly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($1,249 per unit), while the average price for exports to Antigua and Barbuda ($1.5 per unit) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+77.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron and Steel Forging in the United States
In 2022, approx. 15M units of iron and steel forging were imported into the United States; remaining constant against the previous year. Overall, imports saw a sharp reduction. The pace of growth appeared the most rapid in 2021 with an increase of 19%. Over the period under review, imports reached the peak figure at 40M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, iron and steel forging imports totaled $106M in 2022. Over the period under review, imports recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 22%. Imports peaked at $119M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
Import of Iron and Steel Forging in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 23.2 | 15.5 | 22.8 | 31.9 | 11.2% |
China | 24.1 | 18.3 | 18.7 | 22.1 | -2.8% |
Mexico | 21.2 | 9.1 | 12.0 | 11.8 | -17.7% |
Canada | 19.4 | 12.9 | 9.8 | 11.4 | -16.2% |
Germany | 9.8 | 8.6 | 12.2 | 10.6 | 2.7% |
South Korea | 7.2 | 6.9 | 8.1 | 5.8 | -7.0% |
Taiwan (Chinese) | 4.2 | 4.1 | 4.0 | 4.0 | -1.6% |
France | 4.2 | N/A | 0.2 | 0.6 | -47.7% |
Others | 5.5 | 5.0 | 10.2 | 8.2 | 14.2% |
Total | 119 | 80.4 | 98.1 | 106 | -3.8% |
Top Suppliers of Iron and Steel Forging to the United States in 2022:
- France (undefinedM units)
- China (4.8M units)
- India (4.7M units)
- South Korea (1.5M units)
- Canada (1.3M units)
- Mexico (1.1M units)
- Germany (0.5M units)
- Taiwan (Chinese) (0.2M units)
Exports of Iron and Steel Forging in the United States
After two years of decline, overseas shipments of iron and steel forging increased by 12% to 83K units in 2022. Overall, exports, however, continue to indicate a precipitous slump. Over the period under review, the exports reached the maximum at 204K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, iron and steel forging exports shrank to $3M in 2022. The total export value increased at an average annual rate of +9.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 45%. The exports peaked at $3.3M in 2021, and then contracted in the following year.
Export of Iron and Steel Forging in the United States (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Mexico | 128 | 108 | 251 | 528 | 60.4% |
Canada | 324 | 481 | 619 | 405 | 7.7% |
France | 184 | 69.7 | 129 | 296 | 17.2% |
Netherlands | 74.3 | 223 | 87.4 | 284 | 56.4% |
Australia | 20.2 | 49.4 | 95.9 | 94.3 | 67.1% |
Germany | 288 | 128 | 79.8 | 79.2 | -35.0% |
New Zealand | 122 | 26.6 | 35.7 | 38.8 | -31.7% |
United Arab Emirates | 5.7 | N/A | 2.9 | 17.8 | 46.2% |
Bahamas | 63.2 | 4.8 | N/A | 17.6 | -34.7% |
Antigua and Barbuda | 3.9 | N/A | N/A | 8.9 | 31.7% |
Hong Kong SAR | N/A | 372 | N/A | 8.2 | -85.2% |
Italy | 15.6 | 12.5 | 16.6 | 7.8 | -20.6% |
Guatemala | 3.4 | 5.3 | 4.2 | 7.7 | 31.3% |
Others | 1,033 | 1,814 | 1,987 | 1,163 | 4.0% |
Total | 2,265 | 3,294 | 3,309 | 2,957 | 9.3% |
Top Export Markets for Iron and Steel Forging from the United States in 2022:
- Italy (undefinedK units)
- Hong Kong SAR (undefinedK units)
- Mexico (30.6K units)
- Netherlands (17.1K units)
- France (8.9K units)
- Antigua and Barbuda (5.9K units)
- Australia (4.6K units)
- United Arab Emirates (2.4K units)
- Guatemala (1.6K units)
- New Zealand (1.1K units)
- Canada (0.3K units)
- Bahamas (0.3K units)
- Germany (0.3K units)
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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During the review period, the number of imports of Iron And Steel Forging reached a record high of 2.2 million units in September 2022. However, from October 2022 to August 2023, imports remained at a slightly lower level. In terms of value, the imports of iron and steel forging soared to $10 million in August 2023.
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