Metal products

US demand for manufactured metal products expected to increase on the back of gains in durable goods shipments and construction spending

CLEVELAND, February 2, 2021 / PRNewswire / – U.S. demand for fabricated metal products is expected to grow 1.3% per year in nominal terms from 2019 levels through 2024, according to Manufactured metal products: United States, a report recently published by Freedonia Focus Reports. Suppliers will benefit from higher domestic shipments of durable goods and continued growth in the US construction industry. However, further gains will be limited by competition from metal castings and alternative materials such as plastics.

In 2020, demand fell 8.0% as many manufacturing companies and construction projects experienced delays and disruptions due to the COVID-19 pandemic. During the same period, shipments of fabricated metals fell 9.0%. Efforts to delay community transmission of the virus caused a sharp contraction in economic activity in 2020, leading to significant changes or reductions in shipments of fabricated metal products and other manufactured goods. Motor vehicle sales remained below 2019 levels due to low consumer incomes and job losses, limiting demand for forged and stamped vehicle parts. However, many previously delayed construction projects are expected to proceed as planned, particularly in the accommodation and infrastructure sectors.

This and other key information is presented in Manufactured metal products: United States. This report forecasts the demand and shipments of US-made metal products in nominal US dollars through 2024 at the manufacturer level. Total demand is segmented by product in terms of:

  • structural metals
  • forging and stamping
  • machine shops
  • metal containers
  • fasteners and hardware
  • coating and treatment
  • cutlery and hand tools
  • springs and wires
  • other products such as ammunition, ball and roller bearings, and enameled iron and metal sanitary ware

To illustrate historical trends, total demand, total shipments, various segments and trade are provided in annual series from 2009 to 2019.

Products classified as primary metals (such as steel plants, refined non-ferrous metals, and metal foundry products) are excluded from the scope of this report. Re-exports of fabricated metal products are excluded from demand and trade figures.

Key macroeconomic indicators are also provided with quantified trends. Various other topics, including profiles of relevant leading companies, are covered in this report. A complete overview of the report items by page is available in the table of contents.

More information on the report is available at:
https://www.freedoniafocusreports.com/Fabricated-Metal-Products-United-States-FF70027/?progid=91541

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new and updated Freedonia Focus reports providing fresh and unbiased analysis across a wide variety of markets and industries. Published in 20 to 30 pages, the Focus report covers raw materials, finished manufactured goods and related services such as freight and construction. Additional industry reports can be purchased from Freedonia Focus Reports or MarketResearch.com.

The analysis is intended to guide the busy reader through relevant topics in quick succession, including:

  • total historical market size and industrial production
  • segmentation by products and markets
  • identification of market drivers, constraints and key indicators
  • segment-by-segment outlook in the five-year forecast
  • a supply base survey
  • suggested resources for further study

Press contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group

Related links

https://www.freedoniafocusreports.com