Iron and Steel Forging in Australia - Industry Market Research Report

Iron and Steel Forging in Australia - Industry Market Research Report

Iron and Steel Forging in Australia

The Iron and Steel Forging industry generates revenue from selling products to the downstream construction, mining, automotive manufacturing, transport infrastructure and railway equipment manufacturing markets. Forging generally produces stronger steel components than metal casting, and the finished product is suitable for high-stress applications. The forging process varies considerably by firm and product type. The principal products that the industry manufactures include grinding media, rail wheels and axles, fasteners, steel hooks, pipes and precision valves. The industry is characterised by a high proportion of small firms that produce customised, low-volume forged products. However, the industry's largest player, Grinding Media Pty Ltd, currently generates over one-third of industry revenue.

Industry operators primarily forge iron and steel products. Forging involves shaping iron and steel into different forms. The forging process alters the metals’ physical properties, improving their strength and durability.

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.