Steel Processing Market: Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Type, Distribution channel, End-User, and Region

The Steel Processing Market reached a value of US $ 653.77 Bn. in 2020. Global Steel Processing Market size is estimated to grow at a CAGR of 2.8%.

Steel Processing Market Overview:

Steel Processing is referring to the process of turning iron ore into steel. Steel is an iron-carbon alloy with a carbon percentage ranges up to 2%. To make different grades of steel, impurities like nitrogen, silicon, phosphorus, sulphur, and excess carbon are removed from supplied iron and alloying elements like manganese, nickel, chromium, carbon, and vanadium are added. Steel is widely used in construction, manufacturing tools, vehicles, and other applications. Steel's prevalence derives from its low cost of production, forming, and processing, as well as the abundance of its basic resources such as iron ore and scrap and its unparalleled range of mechanical qualities. According to World Steel Association (worldsteel), in September 2021, global crude steel production for the 64 nations (accounted for 98% of total world crude steel production) reporting to 144.4 million tonnes (Mt), decreased 8.9% from September 2020. Steel Processing Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.

Steel Processing Market Dynamics:

The growing industrialization and urbanization fueling the high consumption of steel in the construction sector driving the steel processing market growth across the globe. Steel has high ductility property, as a result stee is used in several end-use industries such as automotive, marine, and aerospace & defence, which are boosting steel processing market growth. Growing Crude steel production across the globe are primarily driving the steel processing market growth. For instance, India was the world's second-largest producer with a crude steel production of 9.9 MT in August 2021. In 2021, crude steel and finished steel production were 102.49 MT and 94.66 MT, respectively. An increased consumer demand, led to India's crude steel production is expected to increase by 18% in 2022, and reaching 120 million tonnes. In addition, abundant availability of raw materials such as iron ore and low-cost labour are expected to fueled India's steel processing market growth during the forecast period. The increasing government’s investment and initiatives to increase the production of stee is boosting the steel processing market growth across the globe. For instance, Mr. Dharmendra Pradhan, Minister of Steel, Petroleum, and Natural Gas, spoke at the Indian Institute of Metals' webinar on "Making Eastern India a Manufacturing Hub with Reference to Metallurgical Industries" in June 2021. 'Mission Purvodaya' was launched in 2020 with the goal of fostering the growth of India's eastern states by establishing an integrated steel hub in Kolkata, West Bengal. Eastern India has the ability to add more than 75% of India's additional steel capacity. More than 200 MT of the 300 MT capacity is expected to come from this region alone by 2030-31. The steel processing market's expansion may be hampered by the Chinese market's shifting steel prices. While the availability of substitute’s presents a severe challenge for steel processing companies.

Crude Steel Production by region:

Steel Processing Market 1

Global Steel Processing Market Segment Analysis:

Based on the Type, the Steel Processing Market is segmented into Carbon steel and Alloy Steel. The Carbon segment held the largest market share, accounting for 58% in 2020. Carbon steel is tougher than alloy steel, and it gets harder as the carbon content rises during the manufacturing process. The growing demand for carbon steel in steel processing is boosting the steel processing market growth across the globe for this segment. The Alloy Steel segment is expected to witness a significant growth at a CAGR of 2.75% during the forecast period. The Alloy steel offers better ductility, toughness, and corrosion resistance than regular steel, which makes them most preferable in production of steel. Steel Processing Market 2 Based on the End-User, the Steel Processing Market is segmented into Construction, Shipping, Energy, Packaging, Consumer Appliances, Housing, and Automotive. The Construction segment held the largest market share, accounting for 27% in 2020. The segment growth is attributed to rapid increase in construction sector across the globe. The steel is widely used in construction projects for constructing roadways, railroad lines, expansions, and other structures, which is boosting the product demand during the forecast period. It is also commonly used in end-use industries such as maritime and aviation due to qualities such as high flexibility and welding capability, high strength, and anti-corrosive capabilities.

Steel Producing Countries in Sept 2021(Mt):

Steel Processing Market 3

Global Steel Processing Market Regional Insights:

Asia Pacific region held the largest market share accounted for 63% in 2020. The growing automotive sector and rapid urbanisation are leading to high steel consumption, which in turn boosting the market growth in the region. China dominated the Asia Pacific market and led the steel export market in 2019, dwarfing all other countries by more than 30 million metric tonnes. The growing steel production across the region and mainly in China is driving the market growth in the region. The objective of the report is to present a comprehensive analysis of the Steel Processing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Steel Processing Market dynamic, structure by analyzing the market segments and projecting the Steel Processing Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Steel Processing Market make the report investor’s guide.

Global Steel Processing Market Scope: Inquire before buying

Global Steel Processing Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 653.77 Bn.
Forecast Period 2021 to 2027 CAGR: 2.8% Market Size in 2027: US $ 793.19 Bn.
Segments Covered: by Type • Carbon steel • Alloy Steel
by Shape of Steel • Long • Flat • Tabular
by End-User • Construction • Shipping • Energy • Packaging • Consumer Appliances • Housing • Automotive

Global Steel Processing Market by Region

• North America • Europe • Asia Pacific • South America • The Middle East and Africa

Global Steel Processing Market Key Players

• Ansteel Group Corporation Limited • ArcelorMittal S.A. • EVRAZ plc • Gerdau S.A. • HBIS Group • HYUNDAI Steel Company • JFE Steel Corporation • Jiangsu Shagang Group • Nippon Steel & Sumitomo Metal Corporation • Nucor • POSCO • Riva Group • Shandong Iron & Steel Group Co. Ltd. • Shougang Corporation • Tata Steel Group • Thyssenkrupp Steel Europe AG • Baosteel Group • JFE Holdings • Maanshan Iron & Steel Company Limited • KOBE STEEL • Bridon-Bekaert

Frequently Asked Questions:

1] What segments are covered in the Steel Processing Market report? Ans. The segments covered in the Steel Processing Market report are based on Type, Shape of Steel, and End-User. 2] Which region is expected to hold the highest share in the Steel Processing Market? Ans. The Asia Pacific region is expected to hold the highest share in the Steel Processing Market. 3] What is the market size of the Steel Processing Market by 2027? Ans. The market size of the Steel Processing Market by 2027 is US $ 793.19 Bn. 4] What is the forecast period for the Steel Processing Market? Ans. The Forecast period for the Steel Processing Market is 2020-2027. 5] What was the market size of the Steel Processing Market in 2020? Ans. The market size of the Steel Processing Market in 2020 was US $ 653.77 Bn.
1. Global Steel Processing Market Size: Research Methodology 2. Global Steel Processing Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Steel Processing Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Steel Processing Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Steel Processing Market Size Segmentation 4.1. Global Steel Processing Market Size, by Type (2020-2027) • Carbon steel • Alloy Steel 4.2. Global Steel Processing Market Size, by Shape of Steel (2020-2027) • Long • Flat • Tabular 4.3. Global Steel Processing Market Size, by End-User (2020-2027) • Construction • Shipping • Energy • Packaging • Consumer Appliances • Housing • Automotive 5. North America Steel Processing Market (2020-2027) 5.1. Global Steel Processing Market Size, by Type (2020-2027) • Carbon steel • Alloy Steel 5.2. Global Steel Processing Market Size, by Shape of Steel (2020-2027) • Long • Flat • Tabular 5.3. Global Steel Processing Market Size, by End-User (2020-2027) • Construction • Shipping • Energy • Packaging • Consumer Appliances • Housing • Automotive 5.4. North America Steel Processing Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Steel Processing Market (2020-2027) 6.1. European Steel Processing Market, by Type (2020-2027) 6.2. European Steel Processing Market, by Shape of Steel (2020-2027) 6.3. European Steel Processing Market, by End-User (2020-2027) 6.4. European Steel Processing Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Steel Processing Market (2020-2027) 7.1. Asia Pacific Steel Processing Market, by Type (2020-2027) 7.2. Asia Pacific Steel Processing Market, by Shape of Steel (2020-2027) 7.3. Asia Pacific Steel Processing Market, by End-User (2020-2027) 7.4. Asia Pacific Steel Processing Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Steel Processing Market (2020-2027) 8.1. The Middle East and Africa Steel Processing Market, by Type (2020-2027) 8.2. The Middle East and Africa Steel Processing Market, by Shape of Steel (2020-2027) 8.3. The Middle East and Africa Steel Processing Market, by End-User (2020-2027) 8.4. The Middle East and Africa Steel Processing Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Steel Processing Market (2020-2027) 9.1. Latin America Steel Processing Market, by Type (2020-2027) 9.2. Latin America Steel Processing Market, by Shape of Steel (2020-2027) 9.3. Latin America Steel Processing Market, by End-User (2020-2027) 9.4. Latin America Steel Processing Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Ansteel Group Corporation Limited 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Ansteel Group Corporation Limited 10.3. ArcelorMittal S.A. 10.4. EVRAZ plc 10.5. Gerdau S.A. 10.6. HBIS Group 10.7. HYUNDAI Steel Company 10.8. JFE Steel Corporation 10.9. Jiangsu Shagang Group 10.10. Nippon Steel & Sumitomo Metal Corporation 10.11. Nucor 10.12. POSCO 10.13. Riva Group 10.14. Shandong Iron & Steel Group Co. Ltd. 10.15. Shougang Corporation 10.16. Tata Steel Group 10.17. Thyssenkrupp Steel Europe AG 10.18. Baosteel Group 10.19. JFE Holdings 10.20. Maanshan Iron & Steel Company Limited 10.21. KOBE STEEL 10.22. Bridon-Bekaert

About This Report

Report ID 35216
Category Mining And Metals
Published Date oct 2019
Updated Date Nov 2021
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