Industry Analysis & Industry Trends
Wires, chains and springs are used either as products themselves or as components in other products. UK manufacturers tend to focus on high-value niche markets. The Chain, Spring and Wire Product Manufacturing industry is expected to generate revenue of £1.1 billion in 2016-17, up 0.8% on 2015-16. The domestic market for the industry's products is estimated to be worth £1.3 billion in 2016-17, down 0.2% on the previous year.
Industry revenue is forecast to decline at a compound annual rate of 4.9% over the five years through 2016-17. During the past five years, profitability has been negatively affected by the higher prices of metal inputs, lower demand, and competitive pressure on average unit selling prices... purchase to read more
Industry Report - Industry Analysis Chapter
The UK Chain, Spring and Wire Manufacturing industry has undergone a turbulent period over the past five years. The industry is heavily dependent on demand from downstream construction, motor vehicle and aerospace manufacturers. As a result, many chain, spring and wire manufacturers were negatively affected by the subdued economic conditions that characterised much of the period. Poor performance in the manufacturing sector negatively affected demand for the industry's products for much of the period. Weak conditions in the construction sector, in addition to fluctuations in steel prices, further exacerbated the industry's woes. IBISWorld expects industry revenue to decline at a compound annual rate of 4.9% over the five years through 2016-17, to reach £1.1 billion.
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