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Iron and Steel Forging in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Iron and Steel Forging Market Research Report | ANZSIC C2210 | Jan 2015

Steeled for a fall: Industry revenue deteriorates as key markets perform poorly

IBISWorld’s Iron and Steel Forging market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$625m
Annual Growth 10-15
-7.8%
Annual Growth 15-20
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Profit
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Employment
1,434
Businesses
118
Industry Analysis & Industry Trends

Despite its abundance of natural resources and large quantities of iron ore, Australia has a small steel sector compared with other developed nations. The Iron and Steel Forging industry is characterised by a number of small companies that produce highly customised, low-volume forged products. The industry also includes a few large companies that produce grinding media and wheels and axles for rolling stock.

Forging iron and steel is a method of shaping the metal. Unlike cast iron and steel products, where the metal is heated to its melting point and then poured into a mould, forging involves applying pressure to the metal and bending it into shape. Forging generally produces stronger steel components but is more difficult to perform on larger items... purchase to read more

Industry Report - Industry Analysis Chapter

The Iron and Steel Forging industry in Australia is small compared with other developed regions such as the European Union, the United States and Japan. This is not surprising, given that Australia produced only 4.7 million tonnes of crude steel in 2013, while the European Union produced 166.2 million tonnes and total production in North America was 118.9 million tonnes. Companies operating in the industry tend to produce highly specialised, niche products, with the exception of rail wheels and grinding media (forged metal balls that are used to grind down ore). Domestic demand for such products has declined over the past five years. As a result, revenue is forecast to fall at a compound annual rate of 7.8% over the five years through 2014-15, to reach $625.2 million... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Iron and Steel Forging Industry?

Operators in this industry are mainly engaged in iron and steel forging activities. These activities involve the shaping of iron and steel into different forms. The process alters the physical properties of the metals, resulting in improved strength characteristics.

Industry Products
Open die forgingImpression die forgingFlashless forgingOther forging processes
 
Industry Activities
Steel chain forgingIron or steel fittingHorseshoeIron tube fittings and pipe fittingsIron or steel valveOther forged iron or steel products


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