Steel in it: Industry set to rebound over next five years due to stronger downstream demand

IBISWorld’s Iron and Steel Forging market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.


Industry Analysis & Industry Trends

The Iron and Steel Forging industry processes iron and steel by applying thermal and mechanical pressure to them until they reach the desired shape. Forging generally produces stronger steel components than metal casting, and the finished product is suitable for high-stress applications. Traditionally, forged products have been important inputs into motor vehicle manufacturing and the production of other machinery. However, these markets are steadily drying up as local manufacturers lose their competitive edge against imports.

The industry forges iron and steel products for a variety of downstream markets...

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Industry Report - Industry SWOT Analysis Chapter

The Iron and Steel Forging industry is in the decline stage of its life cycle. The industry is exposed to competition from the importation of steel and allow access to markets for products incorporated in finished 'end-use' products, such as railway and automotive machinery, defence equipment and modular construction components. The industry lacks in size to compete with international steel manufacturers, many of which are vertically integrated and have economies of scale when it comes to forging steel. Manufacturers of grinding media and sophisticated bespoke products are likely to be less exposed to foreign competition and are expected to sustain growth over the long term.


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Industry Products

What is the Iron and Steel Forging Industry?

Industry operators are primarily engaged in forging iron and steel products. Forging involves shaping iron and steel into different forms. The forging process alters the physical properties of the metals, resulting in improved strength and durability.

Industry Products
Grinding media
Railway parts
Forged fasteners
Rigging equipment
Automotive parts and other
Industry Activities
Steel chain forging
Iron or steel fitting
Iron tube fittings and pipe fittings
Iron or steel valve
Other forged iron or steel products

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

Competitive Landscape

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
industry Globalisation

Major Companies

Operating Conditions

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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