Report Update Apr 1, 2024

Northern America - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights

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Northern America: Iron And Steel Market 2024

Iron And Steel Market Size in Northern America

The North American iron and steel market soared to $X in 2021, rising by 27% against the previous year. In general, consumption, however, continues to indicate a mild descent. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Iron And Steel Production in Northern America

In value terms, iron and steel production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced decline. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Iron And Steel Exports

Exports in Northern America

In 2021, the amount of iron and steel exported in Northern America contracted markedly to X tons, which is down by -30.3% compared with the previous year. In general, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 140% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iron and steel exports surged to $X in 2021. Over the period under review, exports showed a deep slump. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Canada (X tons) was the main exporter of iron and steel, constituting 71% of total exports. It was distantly followed by the United States (X tons), constituting a 29% share of total exports.

Canada was also the fastest-growing in terms of the iron and steel exports, with a CAGR of -5.3% from 2012 to 2021. The United States (-18.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Canada increased by +31 percentage points.

In value terms, the largest iron and steel supplying countries in Northern America were Canada ($X) and the United States ($X).

In terms of the main exporting countries, Canada, with a CAGR of -4.3%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, with an increase of 133% against the previous year. Over the period under review, the export price, however, showed a slight slump. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+1.1%).

Iron And Steel Imports

Imports in Northern America

In 2021, after two years of decline, there was significant growth in supplies from abroad of iron and steel, when their volume increased by 34% to X tons. Total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, iron and steel imports soared to $X in 2021. Overall, imports posted resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the one major importers of iron and steel, namely the United States, represented more than two-thirds of total import.

The United States was also the fastest-growing in terms of the iron and steel imports, with a CAGR of +3.9% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported iron and steel in Northern America.

In the United States, iron and steel imports expanded at an average annual rate of +5.8% over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, rising by 66% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +1.8% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron and steel in Northern America?

The United States constituted the country with the largest volume of iron and steel consumption, accounting for 82% of total volume. Moreover, iron and steel consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada, fivefold.

What are the largest producers of iron and steel in Northern America?

The country with the largest volume of iron and steel production was the United States, accounting for 79% of total volume. Moreover, iron and steel production in the United States exceeded the figures recorded by the second-largest producer, Canada, fourfold.

What are the leading exporters of iron and steel in Northern America?

In value terms, Canada and the United States constituted the countries with the highest levels of exports in 2021.

What are the leading importers of iron and steel in Northern America?

In value terms, the United States constitutes the largest market for imported iron and steel in Northern America.

What is the average export price for iron and steel in Northern America?

In 2021, the export price in Northern America amounted to $666 per ton, jumping by 133% against the previous year.

What is the average import price for iron and steel in Northern America?

In 2021, the import price in Northern America amounted to $547 per ton, with an increase of 66% against the previous year.

This report provides an in-depth analysis of the iron and steel market in Northern America. 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:

Country coverage:

Bermuda
Canada
Greenland
Saint Pierre and Miquelon
United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Northern America, split by region and country
Trade (exports and imports) in Northern America
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bermuda
- Canada
- Greenland
- Saint Pierre and Miquelon
- United States
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023