U.S.: Nonferrous Forging Market 2025

Nonferrous Forging Market Size in the U.S.

The U.S. nonferrous forging market shrank modestly to $X in 2021, remaining constant against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Nonferrous Forging Production in the U.S.

In value terms, nonferrous forging production dropped modestly to $X in 2021. In general, production showed a slight slump. The most prominent rate of growth was recorded in 2015 with an increase of 15%. Nonferrous forging production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Nonferrous Forging Exports

Exports from the U.S.

After three years of decline, overseas shipments of nonferrous forging increased by 2.3% to X tons in 2021. Overall, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by 36%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, nonferrous forging exports contracted to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 23%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for nonferrous forging exports from the United States, accounting for a 30% share of total exports. Moreover, nonferrous forging exports to China exceeded the volume sent to the second major destination, Japan (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with a 6.1% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to China amounted to +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+5.4% per year) and South Korea (-5.9% per year).

In value terms, the largest markets for nonferrous forging exported from the United States were China ($X), Japan ($X) and Canada ($X), together accounting for 42% of total exports. These countries were followed by the UK, South Korea, Turkey, Mexico, France, Germany, Italy, Brazil and Spain, which together accounted for a further 46%.

In terms of the main countries of destination, Turkey, with a CAGR of +7.8%, 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.

Export Prices by Country

The average nonferrous forging export price stood at $X per ton in 2021, falling by -9.5% against the previous year. Over the period under review, export price indicated notable growth from 2013 to 2021: its price increased at an average annual rate of +3.3% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nonferrous forging export price increased by +49.5% against 2017 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 25%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Nonferrous Forging Imports

Imports into the U.S.

In 2021, supplies from abroad of nonferrous forging was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 73% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, nonferrous forging imports soared to $X in 2021. In general, imports, however, saw a abrupt slump. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of nonferrous forging to the United States, accounting for a 26% share of total imports. Moreover, nonferrous forging imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by the Czech Republic (X tons), with an 11% share.

From 2013 to 2021, the average annual growth rate of volume from Mexico was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.4% per year) and the Czech Republic (+17.7% per year).

In value terms, Mexico ($X) constituted the largest supplier of nonferrous forging to the United States, comprising 40% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.9% share of total imports. It was followed by China, with a 9.5% share.

From 2013 to 2021, the average annual growth rate of value from Mexico stood at +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-15.6% per year) and China (-4.6% per year).

Import Prices by Country

In 2021, the average nonferrous forging import price amounted to $X per ton, surging by 29% against the previous year. Over the period under review, the import price saw a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 58%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :