Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Peru Steel Market Outlook

The Peru steel market size reached around 4.00 MMT in 2023. The market is projected to grow at a CAGR of 3.2% between 2024 and 2032, reaching almost 5.31 MMT by 2032.

Key Takeaways:

  • Long steel is expected to constitute a major portion of the Peru steel market share.
  • Sustainable manufacturing practices are expected to drive the market growth.
  • The demand for carbon steel is expected to dominate the market over the forecast period.

Steel is central to Peru’s economic development since it is an integral raw material for numerous other sectors. Sustainable manufacturing practices make steel produced in Latin America relatively cleaner (30%) than  steel produced in other countries such as China. This is one of the key Peru steel market trends.

The performance of the Peruvian economy is closely tied to the steel manufacturing output, and technological advancements in iron ore extraction and processing are expected to propel the steel market growth in Peru over the forecast period.

The application of steel in the construction sector is expected to dominate the Peru steel market growth. The construction of new renewable energy power plants, ports, and highways is expected to generate a huge demand for steel and associated products, such as wire rods and rebars.

The automotive sector is also expected to increase its demand for steel in Peru, as the domestic industry looks towards upscaling its production capacities and meeting foreign demand. Moreover, technological developments in automotive design are influencing the demand for carbon steel as it is used to manufacture bushings and door frames, among other vehicle components. This is expected to drive the Peru steel market expansion over the forecast period.

Peru Steel Market

Market Segmentation

Peru Steel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

  • Long Steel
    • Wire Rod
    • Rebars
    • Merchant Bars
    • Heavy Sections
    • Others
  • Flat Steel
    • Hot Rolled Wide Strip
    • Quarto Plate
    • Others

Market Breakup by Type

  • Carbon Steel
  • Alloy Steel
  • Stainless Steel
  • Tool Steel

Market Breakup by Application

  • Construction
  • Mechanical Engineering
  • Automotive
  • Metalware
  • Domestic Appliances
  • Agricultural
  • Others

The key Peru steel market players are Corporacion Aceros Arequipa SA, Gerdau S/A, Century Metals & Supplies INC., ArcelorMittal S.A., SSAB AB, and Acerinox, S.A., among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Type
  • Application
Breakup by Product
  • Long Steel
  • Flat Steel
Breakup by Type
  • Carbon Steel
  • Alloy Steel
  • Stainless Steel
  • Tool Steel
Breakup by Application
  • Construction
  • Mechanical Engineering
  • Automotive
  • Metalware
  • Domestic Appliances
  • Agricultural
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Corporacion Aceros Arequipa SA
  • Gerdau S/A
  • Century Metals & Supplies INC.
  • ArcelorMittal S.A.
  • SSAB AB
  • Acerinox, S.A.
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market was sized at nearly 4.00 MMT in 2023.

The market is projected to grow at a CAGR of 3.2% between 2024 and 2032.

The market is assessed to witness a healthy growth in the forecast period to reach around 5.31 MMT in 2032.

The different types of steel in the market include long steel and flat steel.

The major applications of steel include construction, mechanical engineering, automotive, metalware, domestic appliances, and agricultural, among others.

The key market players are Corporacion Aceros Arequipa SA, Gerdau S/A, Century Metals & Supplies INC., ArcelorMittal S.A., SSAB AB, and Acerinox, S.A., among others.

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