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Global Steel Market: By Product: Hot Rolled Steel, Cold Rolled Steel, Direct Rolled Steel, Steel Tubes, Others; By Application: Pre-Engineered Metal Buildings, Bridges, Industrial Structures, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Steel Market Outlook

The global steel market attained a value of about USD 841 billion in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 3.1% to reach nearly USD 1010 billion by 2026.

 

Global Steel Market

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Extensive Adoption of the  Product by Downstream Industries to Aid the Growth of the Steel Industry

Due to favourable properties of the product, such as malleability, ductility, durability, hardness, and versatility, the demand within the steel industry has witnessed a sustained growth, making it one of the leading industries globally. The market growth has been further catalysed by the extensive adoption of steel within the production processes of a wide variety of industries, including the transportation, manufacturing, construction, and aviation industries, among others. As populations grow and the standards of living improve, the demand for steel is also expected to be augmented. Looking forward, the steel industry is expected to gain momentum owing to the rising demand for automobiles and infrastructural growth. The growing demand for alternative and sustainable energy sources is expected to provide a further impetus to the growth of the market as the infrastructure of renewable energy sources like solar wind and hydropower make ample use of stainless steel. The growth in household income and spending power is also expected to aid the market as a number of home appliances like refrigerators, televisions, ovens, and others make use of steel.

 

The Asia Pacific Region to Contribute Significantly to the  Growth of the Steel Industry

The Asia Pacific region comprises of a number of emerging economies that are some of the major producers of steel globally. Within the Asia Pacific, India is one of the major regional markets for steel. In India, the iron and steel industry is experiencing a robust demand from sectors like infrastructure, oil and gas, and automotive, which has been driving the growth of the steel industry in the region. The Indian steel industry is further being driven by the easy availability of low-cost manpower and the presence of abundant iron ore reserves in the country. The implementation of schemes by the Government of India like the Jal Jiban Mission, Pradhan Mantri Awaas Yojana -Gramin and Urban (PMAY-G & U), Bharatmala and Sagarmala, and the National Steel Policy have provided favourable prospects for public and foreign investments, further leading to the growth of the steel industry. The launch of various projects like the construction of metro railways and new airports and irrigation projects are anticipated to catalyse the market growth in India, thus, aiding the overall growth of the steel industry.

 

Steel: Industry  Definition and Segmentation

Steel is an iron-based alloy, which might contain carbon, silicon, manganese, and other minerals. The process of steelmaking involves the production of steel from iron ore and/or scrap. Due to its high durability and malleability, steel is a preferred choice of raw material in a number of industries like the manufacturing, automotive, and consumer products industries.

 

Global Steel Market by Segment

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On the basis of product, the market is segmented into:

  • Hot Rolled Steel
  • Cold Rolled Steel
  • Direct Rolled Steel
  • Steel Tubes
  • Others

Based on application, the market is divided into:

  • Pre-Engineered Metal Buildings
  • Bridges
  • Industrial Structures
  • Others

The EMR report looks into the regional markets of steel like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Steel Market by Region

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Post-Pandemic Rebound in Construction and Automotive Activities to Augment the Market Growth of the Steel Industry

Post the COVID-19 pandemic that adversely affected the output of major industries, the global economy is expected to witness a healthy recovery. The steel industry is expected to recover from the adverse impact of the pandemic by 2021 as all the major steel producing countries have been projected to witness an increase in the use of steel with the recovery in downstream demand. As almost all the countries of the world aim at restoring their economies with the help of real estate construction, the steel industry is expected to witness a robust growth. Steel is the material of choice in the construction activities because of its durability, recyclability, resistance to fire, and corrosion.

With the outbreak of the COVID-19 pandemic in 2020, the automobile sector witnessed constrained operations due to the global lockdown restrictions and falling demand, which negatively impacted the steel industry. However, as the pandemic is expected to recede by 2021, the automobile sector is projected to recover and flourish due to the recovery in economy and demand, along with the launch of various new projects. This is anticipated to catalyse the demand growth within the steel industry. As the pandemic has propelled the demand for personal vehicles as opposed to using public transport due to heightened health and hygiene consciousness, the demand for steel is expected to witness further growth.

The market for steel is further expected to be supported by the growing trends of sustainability and eco-consciousness. Being the world’s most recycled material, the product is expected to witness a healthy growth in demand owing to the growing environmental concerns among the consumers. It is further proven that steel does not release toxins into the ground, thus, making it an eco-friendly product, which is further anticipated to boost its demand.

 

Key Industry Players in the Global Steel Market

The report presents a detailed analysis of the following key players in the global steel  market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.

  • China BaoWu Steel Group Corporation Limited
  • ArcelorMittal S.A.
  • Ansteel Group Corporation Limited
  • Nippon Steel Corporation
  • Jiangsu Shagang Group
  • Baosteel Group
  • POSCO INTERNATIONAL
  • HBIS Group Co., Ltd 
  • Tata Steel Ltd.
  • Hyundai Steel
  • JFE Steel Corporation
  • Anshan Iron and Steel Group Corporation
  • Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

 

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- Product, Application, Region
Breakup by Product Hot Rolled Steel, Cold Rolled Steel, Direct Rolled Steel, Steel Tubes, Others
Breakup by Application Pre-Engineered Metal Buildings, Bridges, Industrial Structures, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered China BaoWu Steel Group Corporation Limited, ArcelorMittal S.A., Ansteel Group Corporation Limited,
Nippon Steel Corporation, Jiangsu Shagang Group, Baosteel Group, POSCO INTERNATIONAL,
HBIS Group Co., Ltd, Tata Steel Ltd., Hyundai Steel, JFE Steel Corporation, Anshan Iron and Steel Group Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Steel Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Steel Historical Market (2018-2022) 
    8.3    Global Steel Market Forecast (2023-2028)
    8.4    Global Steel Market by Product
        8.4.1    Hot Rolled Steel
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Cold Rolled Steel
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Direct Rolled Steel
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Steel Tubes 
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Steel Market by Application
        8.5.1    Pre-Engineered Metal Buildings
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Bridges
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Industrial Structures
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Others    
    8.6    Global Steel Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022) 
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022) 
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022) 
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022) 
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022) 
            8.6.5.3    Forecast Trend (2023-2028)
9    North America  Steel Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Steel Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Steel Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Steel Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle  East and Africa Steel Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        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    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    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
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade  Data Analysis

    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2    By Value
17    Price Analysis
    17.1    North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    17.2    Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
    17.3    Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
    17.4    Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    17.5    Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
18    Competitive Landscape
    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    China BaoWu Steel Group Corporation Limited
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    ArcelorMittal S.A.
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Ansteel Group Corporation Limited
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Nippon Steel Corporation
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Jiangsu Shagang Group
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Baosteel Group
            18.2.6.1    Company Overview
            18.2.6.2    Product Portfolio
            18.2.6.3    Demographic Reach and Achievements
            18.2.6.4    Certifications
        18.2.7    POSCO INTERNATIONAL
            18.2.7.1    Company Overview
            18.2.7.2    Product Portfolio
            18.2.7.3    Demographic Reach and Achievements
            18.2.7.4    Certifications
        18.2.8    HBIS Group Co., Ltd
            18.2.8.1    Company Overview
            18.2.8.2    Product Portfolio
            18.2.8.3    Demographic Reach and Achievements
            18.2.8.4    Certifications
        18.2.9    Tata Steel Ltd.
            18.2.9.1    Company Overview
            18.2.9.2    Product Portfolio
            18.2.9.3    Demographic Reach and Achievements
            18.2.9.4    Certifications
        18.2.10    Hyundai Steel
            18.2.10.1    Company Overview
            18.2.10.2    Product Portfolio
            18.2.10.3    Demographic Reach and Achievements
            18.2.10.4    Certifications
        18.2.11    JFE Steel Corporation
            18.2.11.1    Company Overview
            18.2.11.2    Product Portfolio
            18.2.11.3    Demographic Reach and Achievements
            18.2.11.4    Certifications
        18.2.12    Anshan Iron and Steel Group Corporation
            18.2.12.1    Company Overview
            18.2.12.2    Product Portfolio
            18.2.12.3    Demographic Reach and Achievements
            18.2.12.4    Certifications
        18.2.12    Others
19    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Steel Market: Key Industry Highlights, 2018 and 2028
2.    Global Steel Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3.    Global Steel Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4.    Global Steel Historical Market: Breakup by Application (USD Billion), 2018-2022
5.    Global Steel Market Forecast: Breakup by Application (USD Billion), 2023-2028
6.    Global Steel Historical Market: Breakup by Region (USD Billion), 2018-2022
7.    Global Steel Market Forecast: Breakup by Region (USD Billion), 2023-2028
8.    North America Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
9.    North America Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
10.    Europe Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    Europe Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Asia Pacific Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Asia Pacific Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Latin America Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Latin America Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Middle East and Africa Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Middle East and Africa Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Major Importing Countries by Volume (2020)
19.    Major Exporting Countries by Volume (2020)
20.    Major Importing Countries by Value (2020)
21.    Major Exporting Countries by Value (2020)
22.    North America Historical Price Trends and Forecast 2018-2028
23.    Europe Historical Price Trends and Forecast 2018-2028
24.    Asia Pacific Historical Price Trends and Forecast 2018-2028
25.    Latin America Historical Price Trends and Forecast 2018-2028
26.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
27.    Global Steel Market Structure

Key Questions Answered in the Report

The global steel market attained a value of nearly USD 841 billion in 2020.

The market is projected to grow at a CAGR of 3.1% in the forecast period of 2023-2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 1010 billion by 2026.

The superior qualities of the product, like strength, malleability, and recyclability, are aiding market growth. Other factors, such as the implementation of favourable government schemes, increased public and foreign investments, and rapid industrialization, are also aiding  the growth of the market.

The industry is being driven by increased demand of the product from the construction and automobile sectors as a means of recovery of the economy after the outbreak of the COVID-19 pandemic.

The major regional markets for steel are North America, Latin America, the Asia Pacific, Europe and the Middle East and Africa.

The major products of steel in the industry are hot rolled steel, cold rolled steel, direct rolled steel, and steel tubes, among others.

Pre-engineered metal buildings, bridges, and industrial structures, among others, are the major application segments in the industry.

The major players in the market are China BaoWu Steel Group Corporation Limited, ArcelorMittal S.A., Ansteel Group Corporation Limited, Nippon Steel Corporation, Jiangsu Shagang Group, Baosteel Group, POSCO INTERNATIONAL, HBIS Group Co., Ltd, Tata Steel Ltd., Hyundai Steel, JFE Steel Corporation, and Anshan Iron and Steel Group Corporation, among others.

Analyst Review

The global steel market attained a value of nearly USD 841 billion, driven by the product’s properties of durability, malleability, and recyclability. Aided by the rising demand from the construction and automobile industries, the industry is further expected to grow at a CAGR of 3.1% in the forecast period 2023-2028 to reach about USD 1010 billion by 2026.

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of product, the market is divided into hot rolled steel, cold rolled steel, direct rolled steel, steel tubes, and others. Based on application, the market is divided into pre-engineered metal buildings, bridges, industrial structures, and others. The major regional markets for steel are North America, Latin America, the Asia Pacific, Europe and the Middle East and Africa. The key players in the above market are China BaoWu Steel Group Corporation Limited, ArcelorMittal S.A., Ansteel Group Corporation Limited, Nippon Steel Corporation, Jiangsu Shagang Group, Baosteel Group, POSCO INTERNATIONAL, HBIS Group Co., Ltd, Tata Steel Ltd., Hyundai Steel, JFE Steel Corporation, and Anshan Iron and Steel Group Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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