U.S.: Nonferrous Forging Market 2024

Nonferrous Forging Market Size in the U.S.

In 2022, the U.S. nonferrous forging market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Nonferrous Forging Production in the U.S.

In value terms, nonferrous forging production stood at $X in 2022. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by X%. Nonferrous forging production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Nonferrous Forging Exports

Exports from the U.S.

In 2022, shipments abroad of nonferrous forging increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a noticeable decline. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, nonferrous forging exports expanded notably to $X in 2022. In general, exports, however, saw a slight slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons), China (X tons) and France (X tons) were the main destinations of nonferrous forging exports from the United States, together accounting for X% of total exports. The UK, Hungary, Canada, Italy, Taiwan (Chinese), Germany, Turkey, Brazil, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the UK ($X) appeared to be the largest markets for nonferrous forging exported from the United States worldwide, with a combined X% share of total exports. France, Canada, Germany, South Korea, Turkey, Italy, Malaysia, Hungary, Taiwan (Chinese) and Brazil lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Hungary, with a CAGR of X%, saw 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 2022, with an increase of X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nonferrous Forging Imports

Imports into the U.S.

In 2022, overseas purchases of nonferrous forging increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports showed a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nonferrous forging imports skyrocketed to $X in 2022. Overall, imports recorded a temperate increase. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Hungary (X tons), Mexico (X tons) and France (X tons) were the main suppliers of nonferrous forging imports to the United States, with a combined X% share of total imports.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2013 to 2022, 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: Hungary (X% per year) and France (X% per year).

Import Prices by Country

In 2022, the average nonferrous forging import price amounted to $X per ton, waning by X% against the previous year. In general, the import price saw a mild downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, 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 2013 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :