US Industry Growth - Pipe & Tube Manufacturing "Brass Fittings"

Created at : Sep 10, 2020

Metal Pipe & Tube Manufacturing in the US industry trends (2015-2020)

poll Average industry growth 2015–2020: 1.6%

Over the five years to 2020, the Metal Pipe and Tube industry has exhibited strong growth bookended by severe declines. The industry grew substantially in 2017 and 2018 as industrial activity rebounded from prior lows. In particular, the prospects of the oil and gas industry cluster have a significant effect on this industry given their essential role in the oil and gas supply chain. However, the effects of the COVID-19 pandemic have greatly reduced global consumption and in turn oil prices. Despite these challenges, growth has largely offset declines on an annualized basis. Overall, industry revenue is anticipated to increase an annualized 1.6% to $12.0 billion over the five years to 2020, including a forecast decline of 15.5% in 2020 alone.

Reference: https://www.ibisworld.com/united-states/market-research-reports/metal-pipe-tube-manufacturing-industry/

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