Structural Metal Product Manufacturing in the US - Industry Market Research Report

Structural Metal Product Manufacturing in the US - Industry Market Research Report

Structural Metal Product Manufacturing in the US

Structural metal product manufacturing revenue exhibits mixed results through the end of 2023. Strong economic growth has caused the industry's capacity to expand during the five-year period. However, the effects of the COVID-19 pandemic have muted growth. Still, growing demand from the industry's downstream markets, including construction, aerospace and infrastructure industries, has supported demand for structural metal products over the past five years. Concurrently, the industry has contended with volatile input costs, an appreciating US dollar and the effects of the US-China trade war. Structural metal product manufacturing revenue has contracted at a CAGR of 2.5% to $55.2 billion over the past five years, pushed down by a 1.9% decrease in 2023 alone.

Operators in this industry manufacture structural metal products, such as reinforcing bars, bar joists, railway bridge sections, dam gates, transmission tower sections and railroad car racks. They also manufacture metal plate work, such as bins, culverts, hoods, ladles, containment vessels and prefabricated metal buildings. The majority of industry products are used in nonresidential building and utility construction.

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.