Dublin, July 09, 2024 (GLOBE NEWSWIRE) -- The "Iron & Steel Manufacturing in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
The iron and steel manufacturing industry has grown at a CAGR of 4.9% to an estimated $139.6 billion in 2024, driven primarily by commodity price increases, with production volumes experiencing mixed trends. Prices for iron and steel have historically exhibited high volatility. Factors such as growing demand from developing economies, disruptions in supply chains due to COVID-19 and geopolitical tensions, notably the Russian-Ukraine conflict, have contributed to this volatility. Production volumes were bolstered by construction sector activity early in the period but later declined due to lower demand from commercial property and housing sectors, driven by rising mortgage rates and pandemic-related impacts.
Instant access to hundreds of data points and trends:
- Market estimates from 2014-2029
- Competitive analysis, industry segmentation, financial benchmarks
- Incorporates SWOT, Porter's Five Forces and risk management frameworks
Market highlights:
- The current performance is primarily influenced by rising commodity prices, such as iron ore and raw steel, which have contributed to revenue growth.
- Manufacturers continue to advance in surface treatment technologies for hot-rolled sheets, such as coatings and plating techniques like galvanizing, enabling them to offer products with enhanced corrosion resistance, improving durability and visual appearance.
- Proximity to raw material sources impacts geographic concentration, as companies often choose locations close to sources of raw materials like iron ore, coal, and scrap metal to reduce transportation costs and ensure a stable supply chain.
- Companies focus on improving operational efficiency and cost management to remain competitive in the industry, optimizing production processes and minimizing expenses.
Top three companies in the market, ranked by total revenue:
- Nucor Corporation
- Cleveland-Cliffs Inc.
- United States Steel Corp.
Market share concentration for the Iron & Steel Manufacturing industry in the US is moderate, which means the top four companies generate between 40% and 70% of industry revenue. The average concentration in the Manufacturing in the US sector in the United States is 36%.
A selection of other companies mentioned in this report includes, but is not limited to:
- Steel Dynamics, Inc.
- Arcelormittal
- Ak Steel Holding Corp.
- Commercial Metals Company
- Gerdau S.A.
- USS-POSCO Industries
- Evraz PLC
- California Steel Industries Inc.
- Republic Steel Inc.
- Crucible Industries LLC
- L.B. Foster Company
- Harmer Steel Ltd.
- Healey Railroad Corporation
- A&K Railroad Materials Inc.
For more information about this report visit https://www.researchandmarkets.com/r/57aezk
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