CLEVELAND, Aug. 17, 2016 /PRNewswire/ -- US sheet metal demand is forecast to total $87.1 billion in 2020, representing annual growth of 2.1% from $78.6 billion in 2015. Suppliers stand to benefit from continued gains in durable goods production, including transportation equipment and building products. Ongoing import competition from producers in countries such as China is expected to continue to limit value gains with lower unit prices.
These findings are featured in Sheet Metal: United States, a report recently released by Freedonia Focus Reports, a division of The Freedonia Group.
Full Report Compares US Demand to US Shipments. Explores Differences
Shipments of sheet metal from US factories, often confused with US demand or the US market for sheet metal, are bound for customers both at home and abroad. In value terms, US shipments met some 80% of US demand in 2015, while the rest of the market was served by imports, increasingly from China, Japan and South Korea. China's import growth averaged over 12% annually over the decade to 2015; Japan and South Korea's nearly 7%. Those rates far exceeded US demand growth over the same period, indicating that US sheet metal makers are increasingly competing with offshore producers for domestic orders.
The full report, Sheet Metal: United States, forecasts US sheet metal demand and shipments in US dollars at the manufacturers' level to 2020. Total demand is segmented by product in terms of:
- hot-rolled steel
- cold-rolled steel
- other products such as nickel, titanium, and zinc.
Re-exports of sheet metal are excluded from demand figures.
Total demand is also segmented by market as follows:
- transportation equipment
- building products
- appliances, electrical equipment, and electronics
- other markets such as packaging, storage products, and furniture.
To illustrate historical trends, total demand, total shipments, and the various segments are provided in annual series from 2005 to 2015.
Further analysis includes an Industry Structure section, which surveys the supply base and identifies the leading firms competing to meet US demand. A one-page, introductory Highlights section summarizes key findings from this 30-page report, and a Resources section lists contributing sources as well as resources available for further research.
Please link any media or news references to our reports or data back to www.freedoniagroup.com.
About Freedonia Focus Reports
Each month, The Freedonia Group publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- Total historical market size and industry output
- Segmentation by products and markets
- Identification of market drivers, constraints, and key indicators
- Segment-by-segment outlook in five-year forecasts
- A survey of the supply base
- Suggested resources for further study
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/freedonia-focus-reports-us-sheet-metal-demand-growth-to-average-21-annually-through-2020-300314884.html
SOURCE The Freedonia Group