Steel Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Steel refers to an alloy of iron with a few percents of carbon to improve its strength and fracture resistance. Stainless steels that are corrosion and oxidation resistant need typically an additional 11% chromium. Due to its high tensile strength and low-cost steel is preferred in buildings, construction, tools, ships, cars, and machines. Iron forms the base metal of steel and can take one or two crystalline forms. Steel was produced in bloomer furnaces for thousands of years.

MARKET DYNAMICS

Growth in the popularity of pre-engineered metal buildings and lightweight building materials drives the demand for steel. Market. Besides this, the transition from conventional casting processes to novel technologies making the use of recycled materials also drives market growth. The issue of buckling associated with steel structures restricts the fruitful growth of steel market. The involvement of various steel manufacturing companies in extensive R&D and collaborations is expected to boost the demand for steel market in the near future.

MARKET SCOPE

The "Global Steel Market Analysis to 2031" is a specialized and in-depth study of the Chemicals and Materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the steel market with detailed market segmentation by product type, application and geography. The global steel market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steel market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global steel market is segmented on the basis of product type and application. On the basis of product, the steel market is segmented into hot, cold, direct rolled, tubes and others. As per application the steel market is broken into pre-engineered metal buildings, bridges, industrial structures and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steel market based on various segments. It also provides market size and forecast estimates from the year 2021to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The steel market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the steel market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the steel market in these regions.

MARKET PLAYERS

The reports cover key developments in the steel market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from steel market are anticipated to lucrative growth opportunities in the future with the rising demand for steel market in the global market. Below mentioned is the list of few companies engaged in the steel market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the steel market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  ArcelorMittal S.A.
  
•  Baosteel Group
  
•  Hesteel Group Company Limited
  
•  Hyundai Steel Co., Ltd.
  
•  JFE Steel Corporation
  
•  Jiangsu Shagang Group Company Limited
  
•  Nippon Steel Corporation
  
•  Nucor Corporation
  
•  Posco
  
•  Shougang Group Co., Ltd.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Steel Report Scope