As of 2023, the Primary Metal Manufacturing industry in the US had a gross output of $256.95 billion. The forecast for 2024 to 2028 indicates a steady increase in value from $258.89 billion in 2024 to $266.8 billion in 2028. Year-on-year, the industry is expected to grow by approximately 0.79% in 2024-2025, and slightly less in subsequent years averaging around 0.71%. The compounded annual growth rate (CAGR) for the five-year period is projected to be around 0.76%, suggesting a stable yet modest growth in the industry.
Future trends to watch for include advancements in manufacturing technology, increased demand for environmentally sustainable materials, and potential trade policy changes. The sector should also monitor shifts in global supply chains and raw material costs which could impact output levels and profitability.
