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:
March 2020
Report Code:
BWC19425
Available Format:
PDF PDF Icon
Pages:
185

steel processing market bwc19425

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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.

Growth drivers

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.

Restraints

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 toughness.


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 plants.


Competitive Landscape:

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:

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million/Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Steel Type, Steel Shape, and End-User

Key Players

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

By End-User

·         Construction

·         Shipping

·         Energy

·         Packaging

·         Consumer appliances industry

·         Housing

·         Automotive

·         Others

By Region:

·         Asia Pacific

·         North America

·         Europe

·         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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