Steel Processing Market Size, By Steel Type (Alloy Steel, and Carbon Steel), By Steel Shape (Flat Steel, Long Steel, and Tubular Steel), By End-Users (Construction, Shipping, Energy, Packaging, Consumer appliances industry, Housing, Automotive, and Others)), and By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: March 2020
- Report ID: BWC19425
- Available Format: PDF
- Page: 185
Global Steel Processing Market Forecast and Trends
The global Steel Processing market has reached USD 615.75 Billion in 2019 and estimated to reach USD 721.47 Billion in 2026 and anticipated to grow by CAGR of 2.41% during the forecast period 2020- 2026. The main driving factors for the global steel processing market are the rapid industrialization and urbanization, leading to high steel consumption in the building & construction sector. In addition, steel exhibits properties such as high ductility and welding capacity, high strength, and are anti-corrosive, making them applicable in a wide range of end-use industries such as marine automotive and aerospace & defense; this leads to increased market growth in steel processing during the anticipated period. The carbon steel is broadly used in the construction industries for constructing roads, railway tracks, bridges, and others, owing to its toughness, thereby stimulating the global steel processing market during the forecast horizon. Furthermore, the continuous innovations in steel manufacturing to produce sustainable Steel is most likely to fuel the global steel processing market in the estimated period.
Global Steel Processing Market Overview:
Steel processing is defined as the method of conversion of Steel from scrap steel to steel alloys, which can be used to mold new products for reuse. This conversion is done through melting the Steel in furnaces. There are several applications of steel products and the requirement of Steel with the rapidly growing urban population worldwide. Steel processing removes impurities such as carbon, phosphorus, nitrogen, and silicon from the iron ore since these impurities reduce the quality of the Steel. However, the alloying elements such as manganese, nickel, and chromium are added to the iron ore during processing to enhance steel grade and quality.
The Growing Demand in Numerous Industries
The Steel is broadly used in the construction industries for constructing roads, railway tracks, bridges, and others, owing to its toughness, thereby stimulating the global steel processing market during the forecast horizon. Moreover, Steel is widely used in end-use industries such as marine automotive and aerospace & defense, owing to properties such as high ductility and welding capacity, high strength, and are anti-corrosive, propelling the steel processing market during the anticipated horizon.
The surge in urban population
Owing to the rising urban population continuously, the populations require several steel products for their needs, which is expected to propel the market of global steel processing. The rise in the urban population coupled with high per capita income generates the demand for steel products for various purposes, which is fueling the market of steel processing during the forecast period.
Fluctuation in the prices of Steel
The variation in the rates of Steel may hamper the growth of the Steel Processing Market during the forecast period. Besides, the industry is also impacted by the existence of a stringent regulatory framework concerning the production and processing of raw materials.
Global Steel Processing Market: Steel Type
Based on Steel Type, the
Steel Processing market bifurcated into Alloy Steel and Carbon Steel. The
carbon steel segment is most likely to dominate the global steel processing
market during the forecast horizon, as carbon steel is harder than alloy steel.
The carbon steel is broadly used in the construction industries for
constructing roads, railway tracks, bridges, and others, owing to its
Global Steel Processing Market: Steel Shape
Based on Steel Shape, the Steel Processing market segmented into Flat Steel, Long Steel, and Tubular Steel. The long steel segment dominated the global Steel Processing market in 2018 and is expected to remain dominant in the forecast years owing to its into broad use in construction, energy, shipping, packaging, housing, consumer appliances industry, automotive, and others.
Global Steel Processing Market: End-Users
Based on End-Users, the Steel Processing market segregated into Construction, Shipping, Energy, Packaging, Consumer appliances industry, Housing, Automotive, and Others). The Construction segment is anticipated to have the fastest growth during the estimated period due to the speedy development of industries. Steel is widely applied in the automobiles, construction of buildings and rails, and ships due to its high mechanical properties such as ductility, strength, and weldability.
Global Steel Processing Market: Regional insights
By geography, the global
Steel Processing Market segregated into North America, Europe, Asia Pacific,
Middle East & Africa, and Latin America. The Asia Pacific is expected to
grow at a rapid rate in the global steel processing market over the forecast
period due to large-scale industrialization. The significant shift in Asia
Pacific's manufacturing base has further boosted the growth of the region's
steel processing industry. The availability of relatively cheap labor and land
coupled with the facility of operations supported by favorable government
policies has led to the establishment in the area of multiple steel processing
The major market players in the Global Steel Processing are ArcelorMittal, Baosteel Group Corporation, POSCO, Nippon Steel & Sumitomo Metal Corporation, JFE Holdings, Inc., TATA Steel Ltd., United States Steel, Angang Steel Company Limited, Gerdau SA, Maanshan Iron and Steel Company Limited, SAIL, ThyssenKrupp AG, SHAGANG GROUP Inc., Severstal PAO, HBIS GROUP, Hyundai Steel, Bridon-Bekaert, KOBE STEEL, LTD., and other Prominent Players are expanding their presence in the market by implementing various innovations and technologies.
The objective of the Study:
To analyze and forecast the global Steel Processing market size in terms of value.
To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Steel Processing market into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa and their leading countries.
To outline, categorized, and forecast the global Steel Processing market based on Steel Type, Steel Shape, and End-User.
To examine competitive developments like technological advancement, services, and regulative framework within the global Steel Processing Market.
To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Scope of the Report:
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Million/Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
By Steel Type, Steel Shape, and End-User
ArcelorMittal, Baosteel Group Corporation, POSCO, Nippon Steel & Sumitomo Metal Corporation, JFE Holdings, Inc., TATA Steel Ltd., United States Steel, Angang Steel Company Limited, Gerdau SA, Maanshan Iron and Steel Company Limited, SAIL, ThyssenKrupp AG, SHAGANG GROUP Inc., Severstal PAO, HBIS GROUP, Hyundai Steel, Bridon-Bekaert, KOBE STEEL, LTD., and other Prominent Players.
By Steel Type
· Carbon Steel
· Alloy Steel
By Steel Shape
· Flat Steel
· Long Steel
· Tubular Steel
· Consumer appliances industry
· Asia Pacific
· North America
· Latin America
· Middle East & Africa
Business Questions answered by the report
How will the market drivers, restraints, and opportunities affect the market dynamics?
What will be the market size in terms of value and volume and market statistics with a detailed classification?
Which segment dominates the market or region, and one will be the fastest-growing, and why?
A comprehensive survey of the competitive landscape and the market participant players
Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company's specific needs. The following customization options are available for the report:
Additional Company Information
With five additional company detail analysis
Additional country analysis
Detailed segment analysis
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