Metal products

Growing Import Penetration in Prefabricated Metal Products: Report

IBISWorld has updated its data on the state of the wrought metal market in Australia, which has faced increased competition from imported products, particularly from China and the United States.

That of the firm Manufacture of metal products made in Australia The report puts the industry’s total value at $10.5 billion in 2021-22, up 1.6%, with import penetration increasing an average of 2.5% annually over the past five years. It is estimated that imported products represent 63.4% of total demand.

Metal fabricators are defined as primarily involved in “metal hand tools, general hardware and other fabricated metal products” by the research firm, with products including “door handles, bathroom accessories bath, cutlery, razors, knives, guns, ammunition, locks and safes. ”

Australian companies accounted for $5 billion in revenue, 3,970 and 17,160 employees, according to IBISWorld. The four biggest local players are Assa Abloy, Thales Australia, Flowserve Australia and Radcoflex Australia.

A slight increase in market size is expected over the next five years, although local companies “would continue to face fierce competition from foreign manufacturers and product substitution. The effects of the pandemic in 2021-22 on construction should see “a decrease[d] industry revenue 2.0% to $4.9 billion.

Photo: Australian Steel Institute

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