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Metal Pipe and Tube Manufacturing in the US Industry Market Research Report from IBISWorld Has Been Updated
  • USA - English


News provided by

IBISWorld

Oct 17, 2013, 02:00 ET

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Rising oil prices and renewed growth in construction activity will boost demand.

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Los Angeles, CA (PRWEB) October 16, 2013 -- Extreme volatility in the price of steel has damaged the Metal Pipe and Tube Manufacturing industry over the five years to 2013. As steel prices skyrocketed, plummeted and then surged again, so too have the fortunes of industry operators. Over the five years to 2013, industry revenue has fallen at an annualized rate of 0.9%, to reach $12.2 billion. According to IBISWorld Industry Analyst Stephen Hoopes, “Over this period, key buyers in downstream oil and gas drilling, manufacturing and construction industries, cut demand for industry products, causing revenue in 2009 alone to fall an astounding 46.2%.” This staggering performance was due to the compounding effects of falling steel prices, weak demand and mounting external competition. Fortunately, in 2010 and 2011, demand rose and steel prices surged, returning revenue to growth. However, in 2013 specifically, revenue is expected to remain flat as competition from imports and substitutes intensify.

Operators are stand-alone producers of metal pipes and tubes, and therefore obtain the steel used in production from outside sources. As the industry's primary input, steel prices have a significant impact on the performance of industry operators. In the five years to 2013, steel prices are estimated to fall. However, this modest decline hides extreme fluctuations, including a price drop in 2009 and double-digit growth in 2010 and 2011. In general, steel prices have been on an upward trend for more than a decade, fueled by rapidly growing demand from emerging economies, such as China and India. “Operators have reacted to the rising cost of inputs by passing the additional expenses onto customers; however, weak demand and price volatility during the recession made this a difficult practice,” says Hoopes. As a result, industry manufacturers were forced to absorb a significant portion of higher input costs, which hurt profitability.

Demand for the industry's products is expected to increase through 2018, as rising oil and gas prices provide an incentive for downstream buyers to boost production, increasing their need for industry products. Additionally, sustained growth in automotive component manufacturing will increase demand for metal pipes and tubes. In this climate of rising demand, industry revenue is forecast to expand from 2013 to 2018. However, increasing competition from substitutes and imports will leave profit margins relatively constant over the five-year period.

For more information, visit IBISWorld’s Metal Pipe and Tube Manufacturing in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

Operators, who are stand-alone producers in the Metal Pipe and Tube Manufacturing industry, manufacture welded, riveted and seamless pipes or tubes from purchased iron or steel. Consequently, steel is purchased as primary input material to the metal pipe and tube manufacturing process.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]

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