Structural Metal Product Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 33231Revenue
$63.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
157k
Businesses
10,149
Wages
$XX.Xbn
Structural Metal Product Manufacturing in the US industry analysis
Structural metal product manufacturers struggled through the current period. While strong economic growth has led to greater capacity, the COVID-19 pandemic and high interest rates have caused pronounced revenue drops. Despite this, recovering demand from downstream markets, including construction, aerospace and infrastructure industries, has uplifted structural metal manufacturers, staving off more significant interest rate-related declines. Even so, manufacturers have contended with volatile input costs, an appreciating US dollar and the impact of the US-China trade war. Structural Metal Product Manufacturing industry revenue has inched downward at a CAGR of 0.2% over the past five years and is expected to total $63.5 billion in 2024, when revenue will jump by an estimated 1.1%.
Trends and Insights
- Although rising interest rates have posed challenges for construction markets, industry manufacturers still thrive. This success is mainly because of increased government spending on infrastructure projects, which has bolstered growth and stabilized demand for construction materials.
- Fabricated structural metal products continue to dominate as the industry's largest segment. Metal plates and building components represent substantial demand, highlighting their crucial role in the construction and manufacturing sectors.
- Structural metal product manufacturers often choose locations close to suppliers, which makes the Southeast a preferred area. This proximity allows them to acquire raw materials quickly and conveniently, reducing transportation costs and increasing overall efficiency.
- Competitive pricing is essential for attracting customers in the low-margin structural metal product industry. Manufacturers must consistently deliver a variety of high-quality products to meet diverse customer needs.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.2 % over the past five years, to reach an estimated $63.5bn in 2024.
Trends and Insights
Residential construction boomed amid low interest rates
- Structural metal products are critical to the construction sector. Most manufacturers rely on contractor demand. Low interest rates early in the period heavily incentivized residential construction projects; homeowners reaped low borrowing costs and greater net value among long-term investments.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Construction markets will recover through the outlook period
- Performance depends on demand from the residential and commercial construction industries, along with demand from public infrastructure projects, namely roads, bridges, tunnels and highways.
Biggest companies in the Structural Metal Product Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Nucor Corporation | 5,843.8 | 486.1 | 8.3 | |
Arconic Corporation | 3,261.9 | -131.9 | -4.0 | |
Gerdau S.A. | 2,617.9 | 151.3 | 5.8 |
To view the market share and analysis for all 21 top companies in this industry, view purchase options.
Products & Services Segmentation
Structural Metal Product Manufacturing in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Fabricated structural metal products (nonconstruction), Fabricated metal plate work products and Prefabricated metal building and components. Fabricated structural metal products (nonconstruction) is the largest segment of the Structural Metal Product Manufacturing in the US.
Trends and Insights
Fabricated structural metal products for construction remains the industry's largest segment
- The products within this segment are diverse and serve various purposes. Concrete reinforcing bars or rebar, combine the tensile strength of metal and the compression strength of concrete, enabling the bar to bend, yet withstand heavy loads.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Prefabricated Home Manufacturing in the US
Complementors
- Sheet Metal, Window & Door Manufacturing in the US
- Boiler & Heat Exchanger Manufacturing in the US
- Metal Tank Manufacturing in the US
- Heating & Air Conditioning Equipment Manufacturing in the US
- Ship Building in the US
International industries
- Structural Metal Product Manufacturing in Canada
- Structural Metal Product Manufacturing in Australia
- Structural Metal Product Manufacturing in New Zealand
- Metal Structure Manufacturing in the UK
- Structural Metal Product Manufacturing in Ireland
Table of Contents
About this industry
Industry definition
Operators in this industry manufacture structural metal products, such as reinforcing bars, bar joists, railway bridge sections, dam gates, transmission tower sections and railroad car racks. They also manufacture metal plate work, such as bins, culverts, hoods, ladles, containment vessels and prefabricated metal buildings. The majority of industry products are used in nonresidential building and utility construction.
What's included in this industry?
Fabricated structural metal products (nonconstruction)Fabricated metal plate work productsPrefabricated metal building and componentsFabricated structural metal products for constructionCompanies
Nucor CorporationArconic CorporationGerdau S.A.Purchase this report to view all 21 major companies in this industry.
Related Terms
REINFORCING BAR (REBAR)JOISTCULVERTIndustry Code
NAICS 33231 - Structural Metal Product Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Although rising interest rates have posed challenges for construction markets, industry manufacturers still thrive. This success is mainly because of increased government spe...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Fabricated structural metal products continue to dominate as the industry's largest segment. Metal plates and building components represent substantial demand, highlighting t...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Structural metal product manufacturers often choose locations close to suppliers, which makes the Southeast a preferred area. This proximity allows them to acquire raw materi...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competitive pricing is essential for attracting customers in the low-margin structural metal product industry. Manufacturers must consistently deliver a variety of high-quali...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The structural metal product manufacturing industry is highly fragmented, featuring many small to medium-sized companies. However, Nucor Corporation stands out with a larger-...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Nucor Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Arconic Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Gerdau S.A.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 18 additional companies
Detailed analysis
- Description and key data for Nucor Corporation, and factors influencing its performance in the industry
- Description and key data for Arconic Corporation, and factors influencing its performance in the industry
- Description and key data for Gerdau S.A., and factors influencing its performance in the industry
- Description, key data and performance trends for 18 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers of structural metal products must comply with stringent environmental and noise regulations. These include the Clean Water Act, Resource Conservation and Recove...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases represent the most significant expenditure for manufacturers of structural metal products. The rising and unpredictable costs of raw materials have increased these ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Structural Metal Product Manufacturing in the US industry in United States in 2024?
The market size of the Structural Metal Product Manufacturing in the US industry in United States is $63.5bn in 2024.
How many businesses are there in the Structural Metal Product Manufacturing in the US industry in 2024?
There are 10,149 businesses in the Structural Metal Product Manufacturing in the US industry in United States, which has grown at a CAGR of 1.7 % between 2019 and 2024.
Has the Structural Metal Product Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Structural Metal Product Manufacturing in the US industry in United States has been declining at a CAGR of 0.2 % between 2019 and 2024.
What is the forecast growth of the Structural Metal Product Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Structural Metal Product Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Structural Metal Product Manufacturing in the US market in United States?
The biggest companies operating in the Structural Metal Product Manufacturing market in United States are Nucor Corporation, Arconic Corporation and Gerdau S.A.
What does the Structural Metal Product Manufacturing in the US in United States include?
Fabricated structural metal products (nonconstruction) and Fabricated metal plate work products are part of the Structural Metal Product Manufacturing in the US industry.
Which companies have the highest market share in the Structural Metal Product Manufacturing in the US in United States?
The company holding the most market share in United States is Nucor Corporation.
How competitive is the Structural Metal Product Manufacturing in the US industry in United States?
The level of competition is moderate and increasing in the Structural Metal Product Manufacturing in the US industry in United States.
