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Analysis shows continuing expansion in fabricated metal product manufacturing

The IBISWorld Sector Analysis: Manufacturing shows that despite a continued decline in manufacturing’s share of the U.S. economy (as measured by value added), many manufacturing industries have continued to expand, and the U.S. remains one of the largest manufacturers in the world.

Over the past decade, fabricated metal products has been among the more successful subsectors, generating the third-fastest value-added growth in manufacturing. In 2015 the subsector is expected to be the sixth-largest manufacturer in the economy, generating $361.3 billion in revenue and employing 1.3 million people.

Exports in this subsector have climbed from 6.7 percent in 2005 to an expected 10.9 percent in 2015. The largest and fastest-growing exporter in this subsector has been the valve manufacturing industry, which accounts for more than one-third of the subsector’s exports, leveraging its know-how in oil, gas, refinery, and pipeline-related valve manufacturing. Over the next five years, fabricated metal products is expected to continue growing; however, the recent plunge in oil prices may temper demand for its resource-related products.