Steel Industry Data Book Covers Stainless Steel, Carbon Steel, Electrical Steel, Weathering Steel, Sintered Steel Markets.
Steel is a vital industry for global economic growth. It is one of the key raw materials for building & construction and various manufacturing activities. As per the World Steel Association, the total value contribution by the steel industry is USD 2.9 trillion, which is equivalent to 3.8% of global GDP.
Carbon Steel Market Report Highlights
The global carbon steel market size was valued at USD 887.7 billion in 2019, and it is expected to reach USD 1,156.5 billion by 2027, expanding at a CAGR of 3.4% CAGR (2020-2027).
- In terms of revenue, the low carbon steel segment accounted for highest market share in 2019 and was valued at USD 798.1 billion in 2019. Availability of the product at economical cost is likely to remain a key factor driving the segment
- In terms of volume, the ship building segment accounted for market share of 9.7% in 2019. This segment is likely to be affected by decline in orders and weak freight orders
- In terms of volume, the construction segment is projected to witness a highest CAGR of 3.2% from 2019 to 2027. Positive outlook of the construction sector especially in emerging economies is projected to drive the growth of the segment
- Asia Pacific dominated the carbon steel market and is anticipated to maintain its position during the forecast period. Availability of labor at economical cost and increasing industrial output are the primary driving the market in the region
- In terms of volume, Middle East & Africa accounted for market share of 4.8% in 2019. Increasing focus of gulf countries on non-oil and gas sectors is the primary factor driving the market in the region
- Key companies operating in the market include Baosteel Group, HBIS Steel, Nippon Steel Corporation, AK Steel, POSCO, United States Steel, Tata Steel, and ArcelorMittal.
Stainless Steel Market Report Highlights
The global stainless steel market size was valued at USD 104.23 billion in 2021, and it is expected to reach USD 223.60 billion by 2030, registering a CAGR of 8.9% during the forecast period.
- In terms of revenue, the Asia Pacific was the largest region in 2021 and is projected to remain the fastest-growing market during the forecast period. The region accounted for more than 71.0% of the total revenue in 2021 on account of industrial production for automotive, marine, construction, and consumer goods in the countries such as China, India, and Japan
- 300 series segment is projected to exhibit a CAGR of 9.4%, in terms of revenue, during the forecast period. The market is likely to be driven by the aerospace and marine industries on account of its properties such as thermal resistance and corrosion resistance
- Flat products segment accounted for a volume share of nearly 74.0% in 2021. The segment is projected to grow on account of the demand in consumer goods along with machinery & equipment industries, which is supported by the properties of stainless steel such as concentricity, straightness, and tolerance
- Building & construction application segment is likely to observe a lucrative growth of 7.1% during the forecast period on account of massive investment in infrastructure and housing sectors by the countries such as the U.S., China, and India
- The competitive rivalry within the industry is projected to increase with rising mergers & acquisitions, capacity expansion, in addition to network distribution
Structural Steel Market Report Highlights
The global structural steel market size was valued at USD 96.94 billion in 2020, and it is expected to reach USD 146.41 billion by 2028. expanding at a CAGR of 5.3% CAGR (2021-2028).
- Based on region, Asia Pacific dominated the global market in 2020 on account of the growing infrastructural developments in the region
- The non-residential application segment is anticipated to register the fastest CAGR, in terms of revenue, over the forecast period due to the rising renovation activities and spending on infrastructure development
- The industrial sub-segment led the non-residential application in 2020. Increasing construction of lightweight industrial building systems that make use of thin sheet-covered surfaces is the recent technological development, which is driving the demand for high-strength structural steel
- Middle East & Africa is expected to register the second-fastest CAGR of 5.1%, in terms of revenue, over the forecast period. The growth can be attributed to the upcoming infrastructure-related projects in the Middle East
Access the Global Steel Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Electrical Steel Market Report Highlights
The global electrical steel market size was evaluated at USD 23.4 billion in 2020, and it is expected to reach USD 34.3 billion by 2028. The market is expected to expand at a CAGR of 4.9% from 2021 to 2028.
- The grain-oriented electrical steel segment is anticipated to register a CAGR of 5.5%, in terms of revenue, over the forecast period. The growth can be attributed to the increasing production of transformers
- The motor segment is anticipated to register a CAGR of 5.2%, in terms of revenue, over the forecast period. The increasing production of electric vehicles has accelerated the manufacturing of electric motors, which in turn is expected to augment the demand for electrical steel over the coming years
- Europe is anticipated to register a CAGR of 5.5%, in terms of revenue, over the forecast period. Increasing sales of electric vehicles in the region has attracted foreign companies to set up factories in Europe, which, in turn, is expected to boost the consumption of electrical steel in the region
- Asia Pacific accounted for a revenue share of over 71.0% in 2020 of the global market. Focus on rural electrification in developing economies of the region is expected to augment the need for transformers and eventually consumption of electrical steel in coming years
Weathering Steel Market Report Highlights
The global weathering steel market size was USD 987.2 million in 2018, and it is expected to reach USD 1.45 billion by 2025, exhibiting a CAGR of 5.6% during the forecast period.
- Building and construction segment is anticipated to progress at a CAGR of 6.2% over the forecast period, in terms of revenue on account of the rapid urbanization and rising population
- Art and architecture is the second fastest-growing segment with a CAGR of over 4.8% in terms of volume owing to the rising prominence of arts, such as sculptures and statues among others
- Europe emerged as the leading regional segment with a market share of 54.3% in terms of volume in 2018, attributed to the ideal atmospheric conditions of the region which enables easy adoption of weathering steel
- Asia Pacific was the second-largest regional market and held a revenue share of 18.9% in 2018, attributed to the need for expanding road connectivity and infrastructure
- Key participants across the market are largely investing in capacity expansions meet the growing demand from construction
Sintered Steel Market Report Highlights
The global sintered steel market was size to be valued at USD 124.8 million in 2020, and it is anticipated to reach USD 177.9 million by 2027. It is anticipated to expand at a compound annual growth rate (CAGR) of 5% from 2020 to 2027.
- Asia Pacific is expected to register a CAGR of 3.8% in terms of volume over the forecast period. The demand is expected to remain low for 2020-2021 due to the Coronavirus (COVID-19) outbreak
- North America is expected to be the fastest growing regional segment in terms of volume, considering the establishment of automotive plants and factories in the region, with regard to the tariff concerns by the U.S. government
- Machinery and tools is anticipated to accelerate at a CAGR of 5.2%, in terms of revenue, over the forecast period, on account of increasing production of electrical appliances and cutting tools across the globe
- U.S. is among the key markets for sintered steel considering the tariff policies, which are propelling manufacturers to set up their components plants in the country in close proximity of the automotive manufacturers. The country accounts for a volume share of 51% of North America in 2019
Order your copy of the Free Sample of “Steel Industry Data Book – Stainless Steel, Carbon Steel, Electrical Steel, Weathering Steel, Sintered Steel Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research
Key players operating in the steel industry are –
- Ansteel Group
- Baotou Steel
- China Baowu Group
- China Steel Corporation
- Delong Steel Group
- Fangda Steel
- Gerdau S.A.
- HBIS Group
- Hyunda Liuzhou Steeli Steel
- JFE Steel Corporation
- Jianlong Group
- Jingye Group
- JSW Steel Limited
- Liuzhou Steel
- Nippon Steel Corporation
- Nucor Corporation
Grand View Research’s steel industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.
Go through the table of content of Steel Industry Data Book to get a better understanding of the Coverage & Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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