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U.S. Iron And Steel Forging Market. Analysis And Forecast to 2030
Report Update: Jun 1, 2025

U.S. Iron And Steel Forging Market. Analysis And Forecast to 2030

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Jan 20, 2023

Iron and Steel Forging Price in America Falls Slightly to $4.9 per Unit

U.S. Iron And Steel Forging Import Price in November 2022

In November 2022, the iron and steel forging price amounted to $4.9 per unit (CIF, US), waning by -1.6% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 13% month-to-month. Over the period under review, average import prices reached the maximum at $5.0 per unit in February 2022; however, from March 2022 to November 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In November 2022, the highest price was recorded for prices from South Korea ($5.8 per unit) and Germany ($5.7 per unit), while the price for China ($4.4 per unit) and India ($4.8 per unit) were amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Iron And Steel Forging Imports

In November 2022, the amount of iron and steel forging imported into the United States shrank to 1.6M units, with a decrease of -8.2% compared with October 2022 figures. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in September 2022 with an increase of 44% month-to-month. Imports peaked at 2.3M units in May 2022; however, from June 2022 to November 2022, imports stood at a somewhat lower figure.

In value terms, iron and steel forging imports shrank to $7.9M (IndexBox estimates) in November 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 with an increase of 28% against the previous month. Imports peaked at 11M units in May 2022; however, from June 2022 to November 2022, imports stood at a somewhat lower figure.

U.S. Iron And Steel Forging Imports by Country

India (513K units), China (442K units) and Mexico (256K units) were the main suppliers of iron and steel forging imports to the United States, together comprising 75% of total imports.

From January 2022 to November 2022, the biggest increases were in Mexico (with a CAGR of +3.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel forging suppliers to the United States were India ($2.5M), China ($1.9M) and Mexico ($1.3M), together accounting for 72% of total imports. South Korea, Canada, Taiwan (Chinese), Italy and Germany lagged somewhat behind, together accounting for a further 23%.

Among the main suppliers, South Korea, with a CAGR of +3.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Iron And Steel Forging Market Overview

The iron and steel forging market in the United States has been growing steadily in recent years. A number of factors have contributed to this growth, including the increasing popularity of forged iron and steel products, the growing demand for these products from a variety of industries.

The construction industry is another major consumer of forgings. Forgings are used in various applications such as heavy-duty construction equipment, pipelines, scaffolding, and cranes. The growing infrastructure development activities across the globe are expected to boost the demand for forgings in the construction industry.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for iron and steel forging in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • NAICS 332111 - Iron and steel forging

Companies mentioned:

  • Fairfield Manufacturing Company
  • Scot Forge Company
  • Joy Global Surface Mining Inc.
  • Ameriforge Group
  • Wyman-Gordon Forgings
  • Rockford Products
  • Impact Forge Group
  • Canton Drop Forge
  • Sypris Technologies
  • GKN Driveline Newton
  • Park-Ohio Holdings Corp.
  • Ellwood Texas Forge Navasota
  • The Crosby Group
  • Ameriforge Corporation
  • ATI Ladish, Colfor Manufacturing
  • Form Hhi Tech
  • Park-Ohio Industries
  • A T I Funding Corporation
  • Geneve Holdings
  • North American Hoganas Holdings
  • Cordier Group Holdings
  • Tdy Holdings
  • PSEG Nuclear
  • Hephaestus Holdings
  • Ieh FM Holdings
  • ATI Titanium
  • M P I International
  • Handy & Harman Group
  • ATI Operating Holdings
  • Federal-Mogul Holdings Corporation

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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