2 MIN. READ
The metal fabrication products industry continues to evolve as technology advances, incorporating new advances in automation.
The trend toward automation simplifies the production process and allows for reduced reliance on humans and human resources. 3D printing is another trend, allowing for precision and ease in creating prototypes.
Metal fabrication involves shaping metal into various final products or parts that are then used for other products.
The market for metal fabrication includes automotive, manufacturing, construction, energy and power, and electronics, among other industries.
Specific Data to Consider
To gain a deeper understanding of the metal fabrication products industry in the United States, consider some key data collected by MNI, compiler of the industrial data that powers IndustryNet. The industry has 4,539 companies in the U.S., supplying 116,905 jobs. A year ago, there were 114,432 jobs, so that's a growth of 2.16%.
To put the size of the industry in perspective, consider that current average sales amount to $40.35 billion. A year ago, the average sales were $39.41 billion, representing a 2.37% growth.
Regional Data and Distribution Trends
In terms of distribution, IndustryNet data shows that most of the metal fabrication products companies are in the Midwest and South. They have 1,614 (36%) and 1,554 (34%) companies, respectively. The rest are in the Northeast, 730 companies (16.08%), and the West, 641 (14.12%).
As for distribution, 3,515 plants (77%) distribute domestically, the remaining 986 (22%) internationally.
Comparison with U.S. Manufacturing as a Whole
To gain some perspective on the metal fabrication industry, compare it with U.S. manufacturing as a whole, once again relying on IndustryNet. Of the nation's plants, 5% (248) reported an increase in employment, compared with 4% percent of overall U.S. manufacturing.
Metal fabrication also has a higher percentage of companies reporting sales growth compared with U.S. manufacturing as a whole, 2% (100 plants) versus 1%.
In terms of ownership, fabricated metal products companies reflect the nation as a whole in terms of diversity. By both measurements, 1% are minority-owned. But, females comprise 4% of company owners, double that of manufacturing as a whole.
Looking at private versus public ownership, 96% of companies with relevant data in the industry are privately owned, compared with just 91% overall.
It's also possible to compare the domestic and international distribution percentages with those of manufacturing as a whole, 70% and 29%, respectively.
And, it's noteworthy that only six fabricators, fewer than 1%, report importing raw materials, while 11% of all U.S. manufacturing companies do. Those figures combined indicate a stronger emphasis on domestic relationships in fabricated metal products industry than all of U.S. manufacturing.
Conclusion
The fabricated metal products industry is just one segment of the overall manufacturing industry in the United States, but it plays a key role in numerous other industries by supplying finished products and parts.
With that perspective, it's easier to understand metal fabrication companies and the trends the industry experiences.
Looking to Partner with a Metal Fabricator?
If you're looking for a metal fabricator, look no further than IndustryNet. Every metal fabrication company in the United States is listed along with critical data for the entire manufacturing industry.
Compiled by the industry experts at MNI, the information listed in this free industrial marketplace can help a company make the best decision possible when it comes to forming parts. Every qualified supplier that can meet your needs can be found on IndustryNet.
IndustryNet also helps industrial suppliers stand out to relevant buyers. Learn more about our marketing solutions.
