DUBLIN--(BUSINESS WIRE)--The "Crude Steel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
Crude steel is expected to record a CAGR of over 3% during the forecast period.
The major factor driving the market studied are increasing demand from the building and construction industry. On the flip side, the slowdown in global automobile production and unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
- Arcelor Mittal
- China Ansteel Group Corporation Limited
- China BaoWu Steel Group Corporation Limited
- HBIS Group
- HYUNDAI STEEL
- JFE Steel Corporation
- Jianlong Group
- Maanshan Iron & Steel Company Limited
- NIPPON STEEL CORPORATION
- NLMK (Novelipetsk Steel)
- SAIL (Steel Authority Of India)
- SHAGANG GROUP Inc.
- SMS group GmbH
- Tata Steel
- Techint Group
- United States Steel
- Valin Group
Key Market Trends
Increasing Demand from Building & Construction Industry
Steel, along with its alloys, is one of the most common metals used across the world in the construction sector, accounting for more than 40% of world steel demand.
- Steel is used in buildings and construction owing to it superior properties, such as durability and ductility, thus making the buildings earthquake-resistant.
- Increasing rate of high-speed trains in countries like China, Japan, and India have led to the construction of special rail roads, which has led to increasing consumption of carbon-steel, thus enhancing the crude steel demand over the forecast period.
- The global spending on construction sector is expected to reach USD 14 trillion by 2025 which is further going to enhance the demand of crude steel. Asia-Pacific region is expected to dominate the construction market with a CAGR of over 8% by 2023, thereby stimulating the demand for crude steel in the region.
- Owing to the aforementioned factors, the crude steel market is projected to grow at a moderate rate during the forecast period.
Asia-Pacific Region to Dominate the Market
Asia-Pacific region has experienced favorable growth in the crude steel industry in countries like India, China, and South Korea holding almost half of the consumption share. Japan crude steel market growth is driven by civil engineering activities such as building of schools, residential and commercial constructions, railroads etc.
- The demand for steel in countries like India and China is around 50% more than countries like Germany and the United Kingdom. The construction sector in India is expected to grow at a strong CAGR of over 5% due to FDI (Foreign Directed Investment). It is projected that by 2021, India and China will contribute around 40% of the global construction industry.
- The automotive industry is growing in ASEAN countries like Malaysia, Thailand, Indonesia, and Vietnam, which have propelled the demand for crude steel. Advanced High Strength Steel (AHSS) is now being used in nearly every new vehicle as it enables flexible and creative designs with properties, such as ultra-high strength and better bending capacity. AHSS makes up around 60% of the new vehicle body structures.
- The aerospace materials market has diversified, which has increased the demand for steel alloys in the manufacturing of aircrafts both for commercial use and for defense as military aircrafts. Governments of India and China have emphasized on increasing the budget on defense of their countries, and thus have enhanced the usage of steel products which has fueled the demand for crude steel market.
- Major companies in the Asia-Pacific region include Arcelor Mittal SA, China Baowu Steel Group Corp., and Tata Steel.
- The aforementioned factors along with government support are contributing to the increasing demand of crude steel market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand from the Building & Construction Industry
4.1.2 Other Drivers
4.2.1 Slowdown in Global Automotive Production
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Killed Steel
5.1.2 Semi-Killed Steel
5.2 End-user Industry
5.2.1 Building & Construction
5.2.3 Tools and Machinery
5.2.5 Consumer Goods
5.2.6 Other End-user Industries
5.3 Manufacturing Process
5.3.1 Basic Oxygen Furnace (BOF)
5.3.2 Electric Arc Furnace (EAF)
5.4.2 North America
5.4.4 South America
5.4.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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