Nerves of steel: Declining demand from key markets has caused industry revenue to fall

Downstream residential and non-residential construction markets primarily drive demand for the Structural Steel Fabricating industry. Import competition has also increasingly affected the industry over the past five years. Increasing demand from construction markets has supported industry growth over the period. However, declining demand from non-building infrastructure markets has posed a major obstacle to the industry's expansion.Industry revenue is expected to decline at an annualised 5.7% over the five years through 2018-19, corresponding with a sharp contraction in domestic demand for structural steel products. Imports have declined at a rapid rate since 2014-15, causing the fall in domestic demand to exceed declines in industry more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Domestic demand for structural steel fabricated products has steeply declined
  • Challenging domestic demand conditions have driven down profitability over the past five years
  • Non-residential building construction will continue to drive industry sales
  • Industry Report - Industry Locations Chapter

    The geographic spread of structural steel fabrication enterprises is marginally skewed towards Queensland and Western Australia. These states have a high concentration of infrastructure construction activity, which is a key market for fabricated steel inputs. Aside from the demand generated from major infrastructure projects, sales are important to the other construction markets and the distribution of these sales is closely in line with that of the national population and economic activity. Industry operators seek to locate near key markets to reduce distribution time and costs, which increases customer satisfaction and permits a closer liaison between manufacturers and end users. Several large manufacturers operate plants in urban and regional locations and across multiple states...purchase to read more.

    Additional Insights for the Structural Steel Fabricating Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Structural Steel Fabricating Industry are

  • Access to highly skilled workforce
  • Proximity to key markets
  • Marketing of differentiated products
  • IBISWorld analysts also discuss how external factors such as Demand from non-residential building construction and Demand from heavy industry and other non-building construction in the Structural Steel Fabricating industry impact industry performance..

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    What's in this report

    What is the Structural Steel Fabricating Industry?

    Industry firms manufacture structural steel components that are used in buildings and other structures.

    Industry Products
  • Rolled form structural framework
  • Reinforcing rods and bars
  • Reinforcing mesh and wire
  • Other fabricated steel products
  • Industry Activities
  • Fabricated structural steel
  • Prefabricated steel girder and joist
  • Perforated steel plate
  • Prefabricated structural steel part
  • Reinforcing mesh of welded steel
  • Reinforcing steel rods
  • Rolled form structural framework products
  • Prefabricated steel roof truss
  • Prefabricated steel scaffolding
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from non-residential building construction
  • Demand from heavy industry and other non-building construction
  • Demand from residential building construction
  • Demand from road and bridge construction
  • Trade-weighted index
  • Domestic price of iron and steel

  • Current Performance
  • Trade exposure
  • Construction trends
  • Product substitution
  • Profitability narrows
  • Chart: Revenue Growth

  • Industry Outlook
  • International trade
  • Construction markets
  • Profitability and structure
  • Table: Structural Steel Fabricating Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Structural Steel Fabricating Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • House Construction
  • Multi-Unit Apartment and Townhouse Construction
  • Road and Bridge Construction
  • Heavy Industry and Other Non-Building Construction
  • Structural Steel Erection Services
  • Commercial and Industrial Building Construction
  • Institutional Building Construction

  • Key Selling Industries
  • Iron Smelting and Steel Manufacturing

  • Products & Services
  • Rolled form structural framework
  • Other fabricated steel products
  • Reinforcing rods and bars
  • Reinforcing mesh and wire
  • Chart: Structural Steel Fabricating Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Non-residential building contractors and developers
  • Non-building construction firms
  • Residential building firms
  • Wholesalers
  • Other industries
  • Chart: Major Market Segmentation for the Structural Steel Fabricating Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Freight
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Structural Steel Fabricating

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Structural Steel Fabricating Industry

  • Industry Globalization
    BlueScope Steel Limited, OneSteel Trading Pty Limited,
  • Table: BlueScope Steel Limited - financial performance
  • Table: OneSteel Trading Pty Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Structural Steel Fabricating Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Structural Steel Fabricating Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Supporting structures that function like joists and are arranged in different cross-sectional shapes to enhance their strength.
  • Joists
  • Horizontal supporting structures that usually span between two walls or two supporting beams.
  • Trusses
  • Triangular-shaped support structures made up of straight rods or beams connected at their joints.
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    Why buy this report?

    IBISWorld’s Structural Steel Fabricating 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.

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    This report on Structural Steel Fabricating:
    • 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 Structural Steel Fabricating 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

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