DUBLIN--(BUSINESS WIRE)--The "Long Steel Market by Process (Basic Oxygen Furnace, Electric Arc Furnace), Product Type (Rebar, Merchant Bar, Wire Rod, Rail) End-Use Industry (Construction, Infrastructure, Others), and Region (NA, Europe, APAC, MEA, SA) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the long steel market size is estimated to be USD 527.0 billion in 2020 and projected to reach USD 636.7billion by 2025, at a CAGR of 3.9% from 2020 to 2025.
Increasing construction and infrastructure activities, industrialization, and rising population levels are the major factors responsible for the growth of the long steel market. However, the recent outbreak of Covid-19 is expected to have a severe impact on the long steel market.
Based on the process, the long steel market has been classified into basic oxygen furnace and electric arc furnace. The basic oxygen furnace segment is projected to account for the largest share of the market during the forecast period. This growth can be attributed to its advantages. BOF is adopted by large players in the long steel market.
Rebar is the dominant product type which is expected to drive the market.
Based on product type, the long steel market has been classified into rebar, merchant bar, wire rod, rail, and others. Among these, the rebar is projected to account for the largest share of the market during the forecast period. Rebar is mainly used as a reinforcement in steel to increase its tensile strength.
The infrastructure industry is the major consumer of the long steel market.
Based on end-use industry, the market has been classified into construction, infrastructure, and others. Other industries include automotive, hardware manufacturing, and machinery. Among these, the infrastructure segment accounted for the largest share in the long steel market in 2019 and is also expected to grow at the highest CAGR during the forecast period.
Growing infrastructure activities, coupled with increasing investments, is expected to drive the growth of the market. Investment in infrastructure includes highways, bridges, reservoirs, utilities, schools, airports, and stadiums.
Asia Pacific is estimated to account for a major share of the market in 2020 and is projected to grow at the highest CAGR during the forecast period.
Based on the region, the long steel market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Among these, Asia Pacific is estimated to account for the largest share of the long steel market in 2020 and is also expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the presence of various global steelmakers such as ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Tata Steel, and POSCO Steel in the region. These companies have production bases majorly in China and India, due to the availability of domestic labour and raw materials at low-cost.
- Rapid Rate of Urbanization
- Increasing Investment in Infrastructural Activities
- Covid-19 Outbreak and Susceptibility of the Construction Industry
- Volatile Prices of Raw Materials
- Emergence of Value-Added Rebar Products
- Increasing Capacity Utilization and Capacity Extension
- Global Situation of Overcapacity
- Gerdau Sa
- Nippon Steel & Sumitomo Metal Corporation
- Nucor Corporation
- China Baowu Steel Group Corporation Limited
- Commercial Metals Company
- Mechel Pao
- Steel Dynamics, Inc.
- Novolipetsk Steel (Nlmk)
- Outokumpu Oyj
- Acerinox S.A.
- Tata Steel
- Daido Steel
- Shagang Group
- Ansteel Group Corporation Limited
- JFE Steel Corporation
- Evraz Plc
- HBIS Group
- Hyundai Steel
- Steel Authority of India Limited
- Metinvest Holding Llc
- Severstal Jsc
- Wuhan Iron and Steel Corporation
- JSW Steel
For more information about this report visit https://www.researchandmarkets.com/r/tmw7i1