Cleveland, OH, July 22, 2022 — US sheet metal demand in nominal terms is forecast to decline 7.6% annually through 2026, according to Sheet Metal: United States, a report recently released by Freedonia Focus Reports. Losses will reflect falling prices from their peak in 2021, as producers increase production as well as invest in further production capacity. Through 2026, all market segments are forecast to experience declines. Building products will fall the least of any segment, supported by 1.1% yearly growth in building product shipments, as well as their high use of aluminum, which will see slower declines in price compared to other metals. However, further losses will be restrained by growth in durable goods production, especially transportation equipment that use sheet metal.
Demand for sheet metal is expected to decline 30% in 2022, as prices fall from their peak in 2021, which was caused by global undersupply as demand outpaced supply due to changing buying patterns of consumers during the COVID-19 pandemic.
These and other key insights are featured in Sheet Metal: United States. This report forecasts to 2022 and 2026 US sheet metal demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by material in terms of:
- cold-rolled steel
- hot-rolled steel
- other metals such as lead, nickel, tin, and zinc
Total demand is also segmented by market as follows:
- building products
- transportation equipment
- appliances, electrical equipment, and electronics
- other markets such as packaging, furniture, and storage products
To illustrate historical trends, total demand, total shipments, the various segments, trade, and price indexes are provided in annual series from 2011 to 2021.
Metal bars, billets, tubes, and wire are excluded from the scope of this report. Hot-rolled and cold-rolled steel plate is also excluded, though plate of other metals is included. All articles of titanium are excluded from the scope of this report. Trade and demand data does not include added value due to the Section 232 steel and aluminum tariffs. Re-exports of sheet metal are excluded from demand and trade figures.
More information about the report is available at: