Despite its abundance of natural resources and large quantities of iron ore, Australia has a small steel sector compared with other developed nations. The Iron and Steel Forging industry is characterised by a number of small companies that produce highly customised, low-volume forged products. The industry also includes a few large companies that produce grinding media and wheels and axles for rolling stock.
Forging iron and steel is a method of shaping the metal. Unlike cast iron and steel products, where the metal is heated to its melting point and then poured into a mould, forging involves applying pressure to the metal and bending it into shape.
Operators in this industry are mainly engaged in iron and steel forging activities. These activities involve the shaping of iron and steel into different forms. The process alters the physical properties of the metals, resulting in improved strength characteristics.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.