Recoiling revenue: Leaping import competition is supressing the industry's performance

IBISWorld’s Spring and Wire Product Manufacturing 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.


Industry Threats & Opportunities

  • The industry's performance has been contained by the loss of market share to import penetration
  • The current slump in construction activity has driven down demand for wire products
  • Improved demand from the key building markets will be outweighed by the loss of sales to imports

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    Industry Analysis & Industry Trends

    The Spring and Wire Product Manufacturing industry is in the decline phase of its life cycle, with both revenue and industry participation falling over the long term. Most industry product lines are well established, with limited scope for any market expansion and a growing exposure to low-priced imports.

    Industry revenue is expected to decline at an annualised 1.4% over the five years through 2016-17, to reach $1.1 billion. Domestic demand for spring, wire, fencing and wire rope products has contracted over the past five years in response to subdued demand from building markets and weaker sales to downstream manufacturers, particularly motor vehicle manufacturers. The industry's performance has also been weakened by intensifying import penetration...

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    Industry Report - Starting a New Business Chapter

    The industry has moderate barriers to entry for new competitors, principally stemming from the market dominance of the two leading players. Arrium operates in the wire and fencing products segment and Bekaert (WRI Australia) operates in the wire ropes segment. New entrants would find it difficult to compete on a large scale in the industry, as the amount of capital required to establish viable production facilities is exhaustive.

    Not only would new entrants have to compete with existing operators that have established a network of customers in the core markets and supply channels, they would have to establish a viable foothold in a market that is subject to intense competition from low-priced imports and substitutes.


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    Additional Insights for the Spring and Wire Product Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Spring and Wire Product Manufacturing Industry are

  • Having a wide and expanding product range
  • Upstream vertical integration (ownership links)
  • Effective cost controls
  • IBISWorld analysts also discuss how external factors such as Demand from construction and Demand from mining in the Spring and Wire Product Manufacturing industry impact industry performance..

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    Industry Products

    What is the Spring and Wire Product Manufacturing Industry?

    Industry firms primarily manufacture wire or wire products, cable, wire netting, nails or rolled steel fence posts.

    Industry Products
    Wire and fencing products
    Wire rope products
    Other fabricated wire products
    Industry Activities
    Wire product
    Welded link chain and other chain (except forged, cast or sprocket chain)
    Rolled steel fence post
    Nail and skewer
    Safety pin
    Wire screen, netting and mesh (excluding reinforcing mesh)

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Demand from construction
  • Demand from mining
  • Demand from agriculture
  • Domestic price of iron and steel
  • Demand from furniture manufacturing

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Spring and Wire Product Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Spring and Wire Product Manufacturing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Agriculture, Forestry and Fishing
  • Mining
  • Motor Vehicle Manufacturing
  • Wooden Furniture and Upholstered Seat Manufacturing
  • Mattress Manufacturing
  • Construction

  • Key Selling Industries
  • Iron Smelting and Steel Manufacturing

  • Products & Services
  • Wire and fencing products
  • Other fabricated wire products
  • Springs
  • Wire rope products
  • Chart: Spring and Wire Product Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Construction firms
  • Mining firms
  • Manufacturing firms
  • Agriculture firms
  • Other firms
  • Automotive manufacturing and repair firms
  • Chart: Major Market Segmentation for the Spring and Wire Product Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profitability
  • Purchases
  • Freight
  • Wages
  • Depreciation and rent
  • Other operating costs
  • Chart: Cost Structure Benchmarking – Sector vs Spring and Wire Product Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Spring and Wire Product Manufacturing Industry

  • Industry Globalization
    Major Companies
    Arrium LimitedBekaert (Australia) Pty Limited
  • Table: Arrium Limited - financial performance
  • Table: Bekaert (Australia) Pty Limited - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Spring and Wire Product Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Spring and Wire Product Manufacturing Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Compression Spring
  • A type of coiled spring with space between the successive coils. When force is applied to shorten the spring, the coils are pushed closer together.
  • Leaf Spring
  • A type of spring system commonly used for vehicle suspension (dating back to medieval times). Typically involving multi-layered arcs attached to the axle.
  • Torsion Spring
  • A type of coiled spring designed to resist the applied force. When force is applied, the spring twists the coil into a tighter spiral (e.g. the spring found in a clipboard).
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Spring and Wire Product Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Spring and Wire Product Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Spring and Wire Product Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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