Forged in Fire: the World Price of Steel is Expected to Fall, Hindering Industry Revenue
Metal stampers and forgers in Canada manufacture metal products using a variety of pressing machines and localized compressive forces. Industry products may be made of steel or nonferrous metals, such as aluminum, which are typically used as components in downstream manufacturing processes. Buyers of forged and stamped metal products include the commercial aerospace, defence and agricultural machinery manufacturing markets, among others. However, trade tensions with the United States, geopolitical uncertainty and the COVID-19 pandemic have hindered industry performance. Industry revenue has decreased at a CAGR of 8.9% throughout 2023, including a decline of 6.0% to total an estimated $1.4 billion in 2023 alone.
The industry produces stamped and forged metal products. Stamped metal products are shaped under a press, whereas forged metal products are shaped by a localized compressive force. However, this industry does not stamp automotive products, cans or coins.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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Methodology
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