U.S.: Plate Work Market 2025

Plate Work Market Size in the U.S.

In 2021, after eight years of growth, there was decline in the U.S. plate work market, when its value decreased by -1.1% to $X. Overall, consumption, however, showed significant growth. Plate work consumption peaked at $X in 2020, and then shrank modestly in the following year.

Plate Work Exports

Exports from the U.S.

For the third consecutive year, the United States recorded decline in shipments abroad of plate work, which decreased by -9% to X units in 2021. Over the period under review, exports saw a abrupt contraction. The smallest decline of -0.4% was in 2019. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, plate work exports skyrocketed to $X in 2021. In general, exports showed a slight reduction. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for plate work exports from the United States, with a 46% share of total exports. Moreover, plate work exports to Canada exceeded the volume sent to the second major destination, Italy (X units), eightfold. Japan (X units) ranked third in terms of total exports with a 5.1% share.

From 2013 to 2021, the average annual growth rate of volume to Canada stood at +42.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+43.8% per year) and Japan (+48.9% per year).

In value terms, the largest markets for plate work exported from the United States were Canada ($X), Australia ($X) and Japan ($X), with a combined 33% share of total exports. These countries were followed by Mexico, Trinidad and Tobago, Italy, South Korea, France, Germany, New Zealand, Grenada, Sweden and India, which together accounted for a further 23%.

In terms of the main countries of destination, Sweden, with a CAGR of +29.4%, saw 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 plate work export price stood at $X per unit in 2021, jumping by 39% against the previous year. Overall, export price indicated a resilient increase from 2018 to 2021: its price increased at an average annual rate of +14.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plate work export price increased by +50.8% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2018 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Trinidad and Tobago (+80.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plate Work Imports

Imports into the U.S.

In 2021, purchases abroad of plate work decreased by -20.9% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, total imports indicated a strong increase from 2018 to 2021: its volume increased at an average annual rate of +11.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +38.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 36% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020, and then declined significantly in the following year.

In value terms, plate work imports fell slightly to $X in 2021. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 49% against the previous year. Imports peaked at $X in 2020, and then shrank in the following year.

Imports by Country

In 2021, the UK (X units) constituted the largest plate work supplier to the United States, accounting for a 60% share of total imports. Moreover, plate work imports from the UK exceeded the figures recorded by the second-largest supplier, France (X units), fourfold. China (X units) ranked third in terms of total imports with a 9.2% share.

From 2013 to 2021, the average annual growth rate of volume from the UK totaled +110.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+114.4% per year) and China (-17.9% per year).

In value terms, the UK ($X) constituted the largest supplier of plate work to the United States, comprising 50% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports. It was followed by China, with a 10% share.

From 2013 to 2021, the average annual rate of growth in terms of value from the UK amounted to -15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+13.5% per year) and China (+5.3% per year).

Import Prices by Country

The average plate work import price stood at $X per unit in 2021, picking up by 26% against the previous year. In general, import price indicated a strong expansion from 2018 to 2021: its price increased at an average annual rate of +14.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plate work import price increased by +50.6% against 2018 indices. As a result, import price attained the peak level and is likely to continue 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 Canada ($X per unit), while the price for Chile ($X per unit) was amongst the lowest.

From 2018 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+525.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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