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U.S. Nonferrous Forging Market. Analysis And Forecast to 2030
Report Update: Nov 1, 2024

U.S. Nonferrous Forging Market. Analysis And Forecast to 2030

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Oct 2, 2023

Price of U.S. Nonferrous Forging Plummets to $22.6 per kg

U.S. Nonferrous Forging Export Price in July 2023

In July 2023, the nonferrous forging price amounted to $22,590 per ton (FOB, US), with a decrease of -10.2% against the previous month. Over the period under review, export price indicated a perceptible increase from July 2022 to July 2023: its price increased at an average monthly rate of +2.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, nonferrous forging export price decreased by -32.8% against April 2023 indices. The pace of growth was the most pronounced in April 2023 an increase of 33% m-o-m. As a result, the export price reached the peak level of $33,621 per ton. From May 2023 to July 2023, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was the UK ($42,641 per ton), while the average price for exports to Italy ($14,036 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

U.S. Nonferrous Forging Export Prices By Country (USD Per Ton)
COUNTRYExport Price of Nonferrous Forging in U.S. (USD per ton)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
United Kingdom30,16746,69626,42926,64635,85431,24837,45541,51829,68933,26132,90129,68242,641
Canada22,63326,51020,02727,90731,91943,63928,13621,71531,19335,63129,47419,25632,522
Japan16,93217,07014,78523,94027,79635,03025,57023,40623,97724,28126,38725,31026,266
China16,31518,80516,28122,07015,66517,52623,21822,92928,58817,75414,76430,88320,816
Taiwan (Chinese)14,18713,59720,49911,06715,09533,59026,84417,13618,92122,34424,03213,72518,071
Italy13,39112,77115,70013,14559,92819,09824,18716,27230,04424,51922,12324,21814,036
Hungary6,6506,272N/AN/A20,35520,3575,93520,35620,35717,84120,35717,411N/A
Average17,49919,82321,92026,88426,01626,05426,00127,73825,21433,62128,10925,16022,590

U.S. Nonferrous Forging Exports

In July 2023, the amount of nonferrous forging exported from the United States surged to 777 tons, picking up by 20% compared with the previous month's figure. Over the period under review, exports, however, recorded a slight contraction. The most prominent rate of growth was recorded in March 2023 with an increase of 34% against the previous month.

In value terms, nonferrous forging exports rose remarkably to $18M (IndexBox estimates) in July 2023. The total export value increased at an average monthly rate of +1.1% from July 2022 to July 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in March 2023 when exports increased by 22% month-to-month. The exports peaked in July 2023.

U.S. Nonferrous Forging Exports by Country

France (163 tons), Turkey (104 tons) and Singapore (63 tons) were the main destinations of nonferrous forging exports from the United States, with a combined 43% share of total exports.

From July 2022 to July 2023, the biggest increases were in Singapore (with a CAGR of +40.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nonferrous forging exported from the United States were France ($3.5M), Turkey ($2.1M) and Canada ($1.6M), with a combined 41% share of total exports. Singapore, Malaysia, the UK, Brazil, Poland, Taiwan (Chinese), Italy, China, India and Portugal lagged somewhat behind, together accounting for a further 47%.

Among the main countries of destination, India, with a CAGR of +26.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the nonferrous forging market 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 332112 - Nonferrous forging

Companies mentioned:

  • Mueller Industries
  • Wyman-Gordon Company
  • Weber Metals
  • Power Systems Mfg.
  • Machine Specialty & Manufacturing
  • Plansee USA
  • Shultz Steel Company
  • Aluminum Precision Products
  • Cleveland Hardware and Forging Company
  • Kobe Aluminum Automotive Products
  • Ohio Star Forge Co.
  • Quality Aluminum Forge
  • Consolidated Industries
  • Carlton Forge Works
  • Harvey Industries
  • Lindsey Manufacturing Co.
  • Continental Forge Company
  • Fansteel Inc.
  • Vulcan Global Manufacturing Solutions
  • Federal Flange
  • Harvey Industries
  • Smiths Tubular Systems-Laconia
  • Accudyne Industries
  • Turbine Engine Components Technologies Corporation
  • Hhi Formtech Industries
  • Earthquake Protection Systems
  • Mueller Brass Forging Company
  • Firth Rixson Forgings

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 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 TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    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 Exports

    This Chapter is Available Only for the Professional Edition PRO
    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

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    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, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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