Reports related to this article:
Project(s): View 7 related projects in PECWeb
Plant(s): View 5 related plants in PECWeb
Released September 17, 2021 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Americans largely left COVID-19 lockdowns in the rearview mirror and returned to their routines months ago. But when the increased demand for fabricated-metal products--which include everyday items such as cans, hand tools, fencing, ball bearings and auto parts--clashed with supply-chain shortages and the surge of Delta variant cases, the manufacturing sector suddenly found itself under renewed pressure that likely will not be lifted anytime soon. Industrial Info is tracking more than $5.8 billion worth of active projects in the U.S. fabricated metal products sector, about two-thirds of which is attributed to projects nearing or under construction.
Click on the image at right for a graph detailing the top 10 plant parent companies in the U.S. fabricated metal products sector, by total investment.
Food packaging historically has been a major driver in the fabricated metals sector, particularly canned products. U.S. demand for aluminum cans was skyrocketing even before the COVID-19 pandemic, when consumers significantly upped their purchases of canned grocery items like soup and vegetables. That led executives at companies such as Monster Beverage (NASDAQ:MNST) (Corona, California) and Molson Coors (NYSE:TAP) (Chicago, Illinois) to sound the alarm about looming can shortages, according to a recent analysis from Quartz. To make matters worse, aluminum supplies have tightened during the pandemic, driving up prices for the lightweight metal--one of the reasons grocery shoppers are seeing bigger bills in the checkout lane.
But help might be on the way. Canpack Group, a subsidiary of The Giorgi Companies Incorporated (Wilmington, Delaware), leads all other companies across the U.S. in capital-spending projects for fabricated metal products. One of its sites accounts for two of the highest-valued U.S.-based projects, according to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database: a $380 million aluminum can-manufacturing plant in Muncie, Indiana, which is expected to finish construction by the end of 2022, and a proposed expansion should demand continue to grow in coming years.
Overall, aluminum can manufacturers expect to increase their U.S. production capacity by 12 billion cans this year, according to the Can Manufacturers Institute. That number could accelerate in future years, depending on consumer trends. Subscribers to the GMI Database can learn more from Industrial Info's project reports on the Muncie plant and its expansion.
The COVID-19 pandemic also seems to have emboldened Americans' DIY spirit, as demand for hand and power tools has been accelerating since early 2020. Stanley Black & Decker Incorporated (NYSE:SWK) (New Britain, Connecticut) is building a $90 million hand tool manufacturing facility in Fort Worth, Texas, which would produce up to 60 million signature products annually, including Craftsman wrenches, sockets and general tool sets, upon completion in first-quarter 2022. The company also is weighing a potential expansion, which could begin construction as early as next summer, if approved. Subscribers can learn more from Industrial Info's project reports on the Fort Worth plant and its expansion.
Robert Bosch (Gerlingen, Germany), another major tool manufacturer, is considering a proposed expansion of its power tool plant in Lincolnton, North Carolina. The project would increase overall production capacity, in addition to necessary renovations and upgrades. Subscribers can learn more from Industrial Info's project report.
The U.S. fabricated metals sector also is seeing a flourishing of projects in the automotive stamping market, which forges strong, lightweight components for vehicles that improve fuel efficiency and safety. Y-tec Keylex Toyotetsu Alabama, a subsidiary of Toyota Motor Corporation (NYSE:TM) (Aichi, Japan), is wrapping up construction at its $220 million automotive body stampings and assemblies manufacturing plant in Huntsville, Alabama, which will support the nearby Mazda-Toyota Manufacturing USA (MTSUS) plant with stamped metal chassis and body components. Subscribers can learn more from Industrial Info's project report.
Toyotetsu Texas Incorporated, another Toyota subsidiary, is proposing an expansion of its automotive stamping plant in San Antonio, Texas, which could begin construction as early as first-quarter 2022, if approved. The facility produces radiator supports, front fender aprons, brake pedals and hood locks, among other products. Subscribers can learn more from Industrial Info's project report.
In addition to the abovementioned capital-spending projects, Industrial Info is tracking more than $680 million in maintenance-related projects in the U.S. fabricated metal products sector. Subscribers can click here for a list.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Click on the image at right for a graph detailing the top 10 plant parent companies in the U.S. fabricated metal products sector, by total investment.Food packaging historically has been a major driver in the fabricated metals sector, particularly canned products. U.S. demand for aluminum cans was skyrocketing even before the COVID-19 pandemic, when consumers significantly upped their purchases of canned grocery items like soup and vegetables. That led executives at companies such as Monster Beverage (NASDAQ:MNST) (Corona, California) and Molson Coors (NYSE:TAP) (Chicago, Illinois) to sound the alarm about looming can shortages, according to a recent analysis from Quartz. To make matters worse, aluminum supplies have tightened during the pandemic, driving up prices for the lightweight metal--one of the reasons grocery shoppers are seeing bigger bills in the checkout lane.
But help might be on the way. Canpack Group, a subsidiary of The Giorgi Companies Incorporated (Wilmington, Delaware), leads all other companies across the U.S. in capital-spending projects for fabricated metal products. One of its sites accounts for two of the highest-valued U.S.-based projects, according to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database: a $380 million aluminum can-manufacturing plant in Muncie, Indiana, which is expected to finish construction by the end of 2022, and a proposed expansion should demand continue to grow in coming years.
Overall, aluminum can manufacturers expect to increase their U.S. production capacity by 12 billion cans this year, according to the Can Manufacturers Institute. That number could accelerate in future years, depending on consumer trends. Subscribers to the GMI Database can learn more from Industrial Info's project reports on the Muncie plant and its expansion.
The COVID-19 pandemic also seems to have emboldened Americans' DIY spirit, as demand for hand and power tools has been accelerating since early 2020. Stanley Black & Decker Incorporated (NYSE:SWK) (New Britain, Connecticut) is building a $90 million hand tool manufacturing facility in Fort Worth, Texas, which would produce up to 60 million signature products annually, including Craftsman wrenches, sockets and general tool sets, upon completion in first-quarter 2022. The company also is weighing a potential expansion, which could begin construction as early as next summer, if approved. Subscribers can learn more from Industrial Info's project reports on the Fort Worth plant and its expansion.
Robert Bosch (Gerlingen, Germany), another major tool manufacturer, is considering a proposed expansion of its power tool plant in Lincolnton, North Carolina. The project would increase overall production capacity, in addition to necessary renovations and upgrades. Subscribers can learn more from Industrial Info's project report.
The U.S. fabricated metals sector also is seeing a flourishing of projects in the automotive stamping market, which forges strong, lightweight components for vehicles that improve fuel efficiency and safety. Y-tec Keylex Toyotetsu Alabama, a subsidiary of Toyota Motor Corporation (NYSE:TM) (Aichi, Japan), is wrapping up construction at its $220 million automotive body stampings and assemblies manufacturing plant in Huntsville, Alabama, which will support the nearby Mazda-Toyota Manufacturing USA (MTSUS) plant with stamped metal chassis and body components. Subscribers can learn more from Industrial Info's project report.
Toyotetsu Texas Incorporated, another Toyota subsidiary, is proposing an expansion of its automotive stamping plant in San Antonio, Texas, which could begin construction as early as first-quarter 2022, if approved. The facility produces radiator supports, front fender aprons, brake pedals and hood locks, among other products. Subscribers can learn more from Industrial Info's project report.
In addition to the abovementioned capital-spending projects, Industrial Info is tracking more than $680 million in maintenance-related projects in the U.S. fabricated metal products sector. Subscribers can click here for a list.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
