Stats and Resources
National Security:
- The $11.2 trillion global metal and fabricated metal products market is projected to reach $18.5 trillion by 2030.
- The U.S. economy continues to rely on a supply of metals and critical minerals that are substantially imported from China.
- The U.S. is the world’s largest importer of steel.
- The U.S. imports more than 50% of its aluminum requirements.
- China controls more than 71% of the global extraction and 87% of processing of rare earth minerals.
Kentucky Metals Economy:
- Kentucky is home to 185 aluminum-related production facilities and 43 steel and iron production facilities.
- The metals industry employs over 35,000 Kentuckians
- KY metals industry currently contribute $4.8B to Kentucky’s economy
- Black and Hispanic Kentuckians’ representation in Kentucky’s manufacturing workforce (11.4% and 5.0%, respectively) exceeds their demographic representation (7.9% and 3.9% of the population).
- Kentucky is ranked in the top 10 nationally in Aluminum, Iron and Steel exports
- Over the past 5 years (2017-2022), Kentucky generated the third highest growth rate among states that have primary metals manufacturing (LQ>1).
- Kentucky generated the 6th highest growth rate in fabricated metals production over the past 5 years.
- The Hub region and Spokes make up the crux of metals employment and growth.
- Kentucky has a history of investment in related innovation capacities, including over $40M through two Track-1 EPSCoR projects on energy, materials and advanced manufacturing.
- In March 2022, Kentucky launched the Metals Innovation Initiative (MI2) to attract and promote advanced research, sustainability, commercialization, and talent development for Kentucky’s metals industry.