Tough as steel: Declining Canadian nonresidential construction has negatively affected industry revenue

The Structural Metal Product Manufacturing industry in Canada produces fabricated joists, concrete reinforcing bars and metal plate work, among other products. Industry products are essential for strengthening and evening out concrete foundations and for framing roofs and floors to walls. Therefore, products are heavily used in the construction of commercial buildings and multifamily apartment buildings. They are also used in energy, utility and transportation infrastructure projects. Over the five years to 2019, industry revenue has been negatively influenced by declining Canadian nonresidential construction. More than two-thirds of industry products are composed of steel, making the price of steel relevant to operators...read more.

Industry Statistics & Market Size
Revenue
$10bn
Annual Growth 14-19
1.1%
Forecast Growth 19-24
Profit
Employment
30,624
Businesses
1,392
Market Share of Companies

Industry Threats & Opportunities

  • More than two-thirds of industry products are composed of steel, making the price of steel relevant to operators
  • Volatility in revenue has slowed new enterprise growth
  • Construction markets will propel demand for structural metal products
  • Industry Report - Starting a New Business Chapter

    Barriers to entry into the Structural Metal Product Manufacturing industry in Canada are moderate. While no regulations exist that are sufficient to prevent new operators from entering the industry, the financial costs associated with starting a structural metal production facility are very high. New entrants must acquire land to establish a warehouse where the casting of metal will occur. Warehouses must generally be very large to handle the type of orders they may arise in the future. Manufacturing steel beams, concrete reinforcing bars or steel plates requires large furnaces and other manufacturing equipment, along with computer programs that aid in product design and cutting dimensions...purchase to read more.

    Additional Insights for the Structural Metal Product Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Structural Metal Product Manufacturing Industry are

  • Availability of resources
  • Ability to vary services to suit different needs
  • Effective quality control
  • IBISWorld analysts also discuss how external factors such as Value of nonresidential construction and Value of residential construction in the Structural Metal Product Manufacturing industry impact industry performance..

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    What's in this report

    What is the Structural Metal Product Manufacturing Industry?

    This industry manufactures a variety of structural metal products for use in building and infrastructure construction markets. Products include fabricated bar joists, concrete reinforcing bars, metal plate work, railway sections and structural panels for bridges, boats and ships.

    Industry Products
  • Prefabricated metal buildings
  • Metal plate work products
  • Other metal plate work and fabricated structural metal products
  • Concrete reinforcing bars
  • Industry Activities
  • Manufacturing fabricated bar joists and reinforcing bars
  • Manufacturing metal plate work products
  • Manufacturing prefabricated metal buildings
  • Manufacturing other fabricated metal products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Value of nonresidential construction
  • Value of residential construction
  • World price of steel
  • Canadian effective exchange rate index

  • Current Performance
  • Steel for construction
  • Volatile metal prices
  • Global markets
  • Chart: Revenue Growth

  • Industry Outlook
  • Construction markets
  • Inputs and trade
  • Table: Structural Metal Product Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Structural Metal Product Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Homebuilders in Canada
  • Apartment & Condominium Construction in Canada
  • Industrial Building Construction in Canada
  • Bridge & Elevated Highway Construction in Canada
  • Ship Building in Canada
  • Commercial Building Construction in Canada
  • Municipal Building Construction in Canada
  • Heating & Air-Conditioning Contractors in Canada

  • Key Selling Industries
  • Aluminum Manufacturing in Canada
  • Iron & Steel Manufacturing in Canada
  • Metal Pipe & Tube Manufacturing in Canada

  • Products & Services
  • Other metal plate work and fabricated structural metal products
  • Prefabricated metal buildings
  • Metal plate work products
  • Concrete reinforcing bars
  • Chart: Structural Metal Product Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Nonresidential and institutional construction
  • Transport infrastructure construction
  • Power and energy
  • Exports
  • Chart: Major Market Segmentation for the Structural Metal Product Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    WagesPurchasesProfitDepreciationMarketingRentUtilitiesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Structural Metal Product Manufacturing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Structural Metal Product Manufacturing Industry

  • Industry Globalization
    Nucor Corporation, Canam Group Inc.,
  • Table: Nucor Corporation - financial performance
  • Table: Canam Group Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Structural Metal Product Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Structural Metal Product Manufacturing Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • World Price of Steel (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bevel
  • An edge that is not perpendicular to the top or face of the object.
  • I-Beam
  • A beam with an I- or H-shaped cross section used to support large amounts of weight.
  • Tensile Strength
  • Tensile strength measures the force required to pull something, such as a structural beam or a concrete reinforcing bar in this industry's case, to the point where it breaks.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Structural Metal Product Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Structural Metal Product Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Structural Metal Product Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Structural Metal Product Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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