CLEVELAND, March 14, 2017 /PRNewswire/ -- US demand for steel mill products is forecast to total 102 million metric tons in 2021, according to Steel Mill Products: United States, a report recently released by Freedonia Focus Reports. The large construction market is expected to underpin growth, while other significant but more slowly expanding markets –motor vehicles, other durable goods, and metal packaging – will support demand.
US demand for steel mill products is primarily determined by the domestic production of durable goods and components with steel content. Discrete markets include motor vehicles, construction, appliances, machinery, and packaging. Service centers and distributors serve in turn a portion of the aforementioned customer base as intermediaries, but they also export some 6% of their shipments in value terms, particularly to Canada and Mexico. As such, foreign steel-consuming industries exert some influence on US steel mill product demand.
Increased investment in bridge repair and replacement will stimulate growth in demand for steel, although competition from reinforced concrete will limit gains. In the nonbuilding sector, construction of utilities is forecast to increase 1.2% yearly to 2021, aiding demand for steel in applications such as utility distribution poles. Declines in industrial building activity will restrain further advances.
This report forecasts US steel mill product demand and shipments in metric tons to 2021. Total demand is segmented by product in terms of:
- hot-rolled sheet
- hot-dip galvanized sheet and strip
- cold-rolled sheet
- pipe and tubing
- heavy structural shapes
- other products such as rails, tin mill products, and wire rods
More information about the report is available at https://www.freedoniafocusreports.com/Steel-Mill-Products-United-States-10693829/
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – 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. Additional Materials & Chemicals reports can be purchased at www.freedoniafocusreports.com or marketresearch.com.
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
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SOURCE The Freedonia Group