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A Canadian Steel Company Realized an Increase in Profit Margins by 19% with Infiniti’s Market Intelligence Engagement

US Steel Industry Outlook

The US steel industry is currently witnessing a period of low growth that has put pressure on steel prices and created uncertain demand in the market. In addition, the lack of supply chain visibility, increasing price volatility, and overcapacity issues are presenting additional challenges for companies in the US steel industry. Consequently, companies in the US steel industry are compelled to streamline operations, improve supply chain visibility, and efficiently tackle challenges coming their way.

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Business Challenge

The client is a full-service steel manufacturer and distributor based out of Canada. The client serves industries such as manufacturing, construction, and mining.

A well-known Canadian steel manufacturer wanted to identify the potential for their steel product in the US steel industry. Also, the client wanted to understand the competitive landscape in the US steel industry and gain insights into the market potential and top players in the US steel industry. Furthermore, the client wanted to gain an understanding of the US steel market landscape by understanding factors including investment environment, industry development, supply-demand conditions, and industrial capacity. As such, the client approached the experts at Infiniti Research to leverage their expertise in offering market intelligence solution.

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Furthermore, with Infiniti’s market intelligence engagement, the client also wanted to:

#1: Evaluate long-term sales potential for their product in the US steel industry

Due to slowing growth in the construction and manufacturing industry in China, steel manufacturers in the Chinese market were prompted to sell their excess inventory to steel companies in other countries at a significantly subsidized price. This subsequently affected the business in the local markets of other nation as it greatly saves on operational cost. Furthermore, the fall in the prices for steel products resulted in the shutdown of many steel producing plants in the US steel industry. The client, therefore, wanted to understand the opportunity for their products in the US and also evaluate long-term sales potential.

#2: Understand the impact of emerging regulations

The increasing import tariffs and initiatives to implement import duties on steel and aluminium could impact the global trade and relationships between countries. Hence, with Infiniti’s market intelligence engagement, the client wanted to understand changes in emerging regulations in the US steel industry and other related markets.

#3: Identify right suppliers

The client noted that usage of low-quality raw materials negatively impacted the production processes of US steel manufacturing companies. Furthermore, higher greenhouse (GHG) emission caused due to the usage of low-quality raw materials caused environmental disruption and higher energy consumption. The client, therefore, wanted to identify the right suppliers to provide high-quality raw materials in the US steel industry.

#4: Reduce supply-demand mismatch

With over 30% of the US steel industry’s revenue being generated from the oil and gas market, the supply-demand gap in the oil and gas market directly impacted overall growth of companies in the US steel industry. Hence, the client wanted to accurately forecast the supply-demand requirements and enhance their supply chain visibility.

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Solutions Offered

With over 15 years of expertise in helping companies devise a market entry plan, our experts helped the client to gain an in-depth understanding of the US steel market landscape. Factors such as market potential, investment environment, market developments, and supply-demand requirements were taken into consideration during the analysis.

As a part of the market intelligence engagement, the experts conducted a market potential analysis. Our market potential analysis helped the client to evaluate the potential demand for their products in the US steel industry. Furthermore, the client was able to evaluate the sales potential for their steel products for the next five years. The experts also analyzed the US steel industry size.

The next phase of the engagement involved US steel market scanning and monitoring. This helped the client to understand the changes and emerging regulations in the US steel industry and other related markets. Also, the client was able to understand the potential impact of changing factors on business segments.

The next phase of the engagement involved supplier identification and profiling. In this phase, the experts helped the client to select the right supplier by evaluating their cost, capabilities, and experience.

Also, the experts conducted competitive intelligence engagement to help the client understand the business strategies of top steel manufacturing companies in the United States. This helped them to identify the strengths and weaknesses of their key competitors.

Furthermore, the experts conducted a supply and demand analysis to help the client in identifying target stock levels to meet the rising demand for steel products in the US steel industry. And, the experts analyzed the US steel industry growth rate for the next five years.

Results Obtained

With the insights obtained from Infiniti’s market intelligence solution, the client was able to devise a go-to-market strategy and identify the best route to enter the US steel industry.

With Infiniti’s market intelligence engagement, the client was able to gain detailed insights on the market demographics and US steel industry’s competitive landscape. This helped them to successfully establish their base of operations to the United States. And, within one year, the client realized an increase in their profit margins by 19%.

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