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Africa Steel Market Share, Size, Growth, Analysis, Report, Forecast: By Product: Long Steel, Flat Steel; By Type: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel; By End User: Construction, Mechanical Engineering, Automotive, Metalware, Domestic Appliances, Agricultural, Others; Regional Analysis; Competitive Landscape; 2023-2028
Africa Steel Market Outlook
The Africa steel market size reached a volume of approximately 38.3 million tons in 2022. The market is further expected to grow at a CAGR of 3.10% between 2023 and 2028, reaching a volume of 45.9 million tons by 2028.
Key Trends in the Market
Steel is an alloy of iron and carbon with less than 2% carbon and 1% manganese, although its composition can vary depending upon desired applications. Common properties of steel include high tensile strength, yield strength, malleability, plasticity, and toughness. Steel is a versatile and adaptable material and its durability and different uses are supporting the growth of the steel market in Africa.
- The Africa steel market is anticipated to grow due to the increase in number of construction projects in the African continent. A surge in investments in both public and private sectors with support from the governments in the region will likely bolster the construction sector, increasing the demand for steel.
- Local steel is being used more frequently in construction projects across the region, fostering the growth of the steel market in Africa. To encourage economic development and employment, governments in the region are encouraging the use of locally produced steel.
- A key trend in the Africa steel market is increased development and production of specialised alloys of steel, resulting in steel with enhanced characteristics to suit specific requirements. With significant natural resources in the form of various metal ores, the production of varied steel alloys can be easily supported.
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Market Analysis
Based on product, the market is bifurcated into long steel and flat steel, with long steel further divided based on product type into wire rod, rebars, merchant bars, and heavy sections, among others, whereas flat steel is subdivided based on product type into hot rolled wide strip, and quarto plate, among others. On the basis on type, the market is segmented into carbon steel, alloy steel, stainless steel, and tool steel. Based on end user, the market is divided into construction, mechanical engineering, automotive, metalware, domestic appliances, and agricultural, among others. The major countries in the Africa steel market are Egypt, South Africa, Nigeria, Kenya, Tanzania, Morocco, and Namibia, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Africa steel market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- ArcelorMittal S.A
- Hesteel Group
- Egyptian Steel Group
- African Industries Group
- elmarakby steel
- Suez Steel Company
- Devki Steel Mills Limited
- Steel and Tube Industries Ltd
- Ezz Steel
- The Libyan Iron & Steel company
- Others
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Market Share by Product
Based on product, flat steel accounts for the larger of the Africa steel market because they are widely used in construction, heavy machinery, and automobiles. Flat steel consists of sheets and plates which are made by rolling slabs and forming a type of semifinished steel. These products are utilised in a variety of sectors, like in machinery, shipbuilding, and domestic appliances. Hot rolled wide strip steel is rolled in high temperatures and is used in manufacturing agricultural equipment, furniture, cabinets, and industrial products.
Meanwhile, long steel is anticipated to grow at a swift rate in the coming years due to the increased use in the electrical power industry, in manufacturing wire ropes for bridges, and developing tire cords for the automotive industry. Products made from long steel include rails, wire rods, billets, and blooms, which are primarily utilised in the energy, mining, and automobile sectors.
Market Share by End Use
In the Africa steel market, construction accounts for a sizable market share based on end use due to necessity of steel in the construction of substantial structures like bridges and buildings. Steel has properties to bind well with concrete and is also cost effective as well as is durable. In the building of roofs and cladding for exterior walls, steel works as an excellent component. With the increasing population and urbanisation in multiple countries in Africa, and reconstruction of older buildings, the demand for housing, buildings, and infrastructure that utilise steel extensively is expected to surge. As steel supports structurally sound constructions, it is becoming a common component of various building operations in Africa.
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Competitive Landscape
Hesteel Group is an iron and steel manufacturer established in 2008 and headquartered in Shijiazhuang, China. The company produces medium carbon steel, high strength steel, automotive steel, gas cylinder steel, pipeline steel, patterned steel, mild steel, and other products. Hesteel sell its products worldwide and provides finance, leasing and logistics support.
African Industries Group is a diversified global producer which is headquartered in Lagos, Nigeria and founded in 1971. Primarily a manufacturing company, the group has multiple manufacturing plants and facilities that are located throughout Nigeria. They specialise in iron and steel manufacturing, agricultural products, power generation, steel processing, building materials, and logistics and shipping.
Devki Steel Mills Limited located in Kiambu, Kenya and established in 1993 is a multi-product steel manufacturer which supplies a wide range of steel products. They provide high quality, affordable products and use modern technologies for the manufacturing of their products. The offerings of Devki Steel Mills include bars, tubes, wires, and building materials.
Other market players include ArcelorMittal S.A, Egyptian Steel Group, elmarakby steel, Suez Steel Company, Steel and Tube Industries Ltd, Ezz steel, and The Libyan Iron & Steel company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Type |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Africa Crude Steel Market Overview
8.1 Key Industry Highlights
8.2 Africa Crude Steel Historical Production (2018-2022)
8.3 Africa Crude Steel Production Forecast (2023-2028)
9 Africa Steel Market Overview
9.1 Key Industry Highlights
9.2 Africa Steel Historical Market (2018-2022)
9.3 Africa Steel Market Forecast (2023-2028)
10 Africa Steel Market by Product
10.1 Long Steel
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.1.4 Breakup by Product Type
10.1.4.1 Wire Rod
10.1.4.2 Rebars
10.1.4.3 Merchant Bars
10.1.4.4 Heavy Sections
10.1.4.5 Others
10.2 Flat Steel
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.2.4 Breakup by Product Type
10.2.4.1 Hot Rolled Wide Strip
10.2.4.2 Quarto Plate
10.2.4.3 Others
11 Africa Steel Market by Type
11.1 Carbon Steel
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Alloy Steel
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 Stainless Steel
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 Tool Steel
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
12 Africa Steel Market by End User
12.1 Construction
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Mechanical Engineering
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Automotive
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Metalware
12.4.1 Market Share
12.4.2 Historical Trend (2018-2022)
12.4.3 Forecast Trend (2023-2028)
12.5 Domestic Appliances
12.5.1 Market Share
12.5.2 Historical Trend (2018-2022)
12.5.3 Forecast Trend (2023-2028)
12.6 Agricultural
12.6.1 Market Share
12.6.2 Historical Trend (2018-2022)
12.6.3 Forecast Trend (2023-2028)
12.7 Others
13 Africa Steel Market by Country
13.1 Egypt
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 South Africa
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 Kenya
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Tanzania
13.5.1 Market Share
13.5.2 Historical Trend (2018-2022)
13.5.3 Forecast Trend (2023-2028)
13.6 Morocco
13.6.1 Market Share
13.6.2 Historical Trend (2018-2022)
13.6.3 Forecast Trend (2023-2028)
13.7 Namibia
13.7.1 Market Share
13.7.2 Historical Trend (2018-2022)
13.7.3 Forecast Trend (2023-2028)
13.8 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 ArcelorMittal S.A.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Hesteel Group
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Egyptian Steel Group
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 African Industries Group
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 elmarakby steel
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Suez Steel Company
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Devki Steel Mills Limited
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Steel and Tube Industries Ltd
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Ezz Steel
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 The Libyan Iron & Steel company
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Africa Steel Market: Key Industry Highlights, 2018 and 2028
2. Africa Steel Historical Market: Breakup by Product (USD Million), 2018-2022
3. Africa Steel Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Africa Steel Historical Market: Breakup by Type (USD Million), 2018-2022
5. Africa Steel Market Forecast: Breakup by Type (USD Million), 2023-2028
6. Africa Steel Historical Market: Breakup by End User (USD Million), 2018-2022
7. Africa Steel Market Forecast: Breakup by End User (USD Million), 2023-2028
8. Africa Steel Historical Market: Breakup by Country (USD Million), 2018-2022
9. Africa Steel Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Africa Steel Market Structure
Key Questions Answered in the Report
In 2022, the market reached an approximate volume of 38.3 million tons.
The market is expected to grow at a CAGR of 3.10% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach 45.9 million tons by 2028.
The growing construction industry, rapid urbanisation and industrialisation, and diversification of steel applications are major market drivers.
The key trend for the market include the increased attention to locally produced steel, expansion of steel manufacturers in the region, and development of steel alloys for improved properties.
Steel is an alloy of iron and carbon which offers properties like tensile strength, yield strength, malleability, and toughness.
The major countries in the steel market in Africa are Egypt, South Africa, Nigeria, Kenya, Tanzania, Morocco, and Namibia, among others.
The different types of steel in the market are carbon steel, alloy steel, stainless steel, and tool steel.
The various end users of steel in the market are construction, mechanical engineering, automotive, metalware, domestic appliances and agricultural, among others.
The key players in Africa steel market, according to the report, are ArcelorMittal S.A, Hesteel Group, Egyptian Steel Group, African Industries Group, elmarakby steel, Suez Steel Company, Devki Steel Mills Limited, Steel and Tube Industries Ltd, Ezz Steel, and The Libyan Iron & Steel company, among others.
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