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

The Iron and Steel Forging market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.


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 Analysis Chapter

The Iron and Steel Forging industry in Australia is small compared with other countries. This smaller size is unsurprising, as Australia produced only 4.9 million tonnes of crude steel in 2015 compared with Japan’s 105.2 million tonnes. China produced the most, with 803.8 million tonnes in the same year. Industry companies tend to produce highly specialised, niche products, with the exception of rail wheels and grinding media such as forged metal balls used to grind down ore.

The industry’s performance has deteriorated sharply over the past five years, corresponding with contracting demand from the downstream Mining and Manufacturing divisions, particularly the Motor Vehicle Manufacturing industry. In ..

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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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