Steel Market: 2019 Trends, Size, Share, Global Growth Insight, Competitive Analysis, Business Opportunities, Statistics, And Regional Forecast To 2023

September 07 19:52 2019
Steel Market: 2019 Trends, Size, Share, Global Growth Insight, Competitive Analysis, Business Opportunities, Statistics, And Regional Forecast To 2023

Steel Market: 2019 Trends
Steel market in 2017 and is expected to register a CAGR of 2.21% during the review period. Flat steel products include slabs, hot-rolled coils, cold-rolled coils, coated steel, tinplate, and heavy plate

Market Insights:

Steel are increasing demand from automotive as well as building & construction industry, increasing demand of high-quality long products & high strength lightweight steel, and increasing urbanization. Speedy industrialization coupled with rising per capita disposable income in developed and developing countries across the globe are predicted to fuel the growth of the market over the estimated period. Furthermore, growing penetration in electrical & domestic appliances and mechanical equipment is estimated to give new impetus to the growth of this market. However, rising usage of substitutes of steel such as aluminum and composites in the manufacturing of automobile parts is estimated to hinder the growth of the market.

Get Free Sample [email protected] https://www.marketresearchfuture.com/sample_request/5465

Global Key Companies:

  • Tata Steel
  • Nucor
  • HYUNDAI STEEL
  • ChinaSteel
  • Maanshan Iron & Steel Company Limited
  • thyssenkrupp AG
  • ArcelorMittal
  • POSCO
  • SHAGANG GROUP Inc
  • NIPPON STEEL & SUMITOMO METAL CORPORATION
  • China BaoWu Steel Group Corporation Limited
  • HBIS GROUP
  • JFE Steel Corporation
  • JSW
  • JIANLONG GROUP

Segment Analysis:

The global steel market is segmented based on type, application, and region. Based on type, the market is categorized into long steel and flat steel. Among these, the flat steel holds the largest market share of around 85% in overall steel sales revenue and is estimated to retain its dominance on account of wide utilization in building & construction sector. Moreover, the demand for high quality long rolled steel is increasing at a faster pace due to strong demand from numerous end-use industries. Based on application, the market is segmented into building & construction, automotive, mechanical equipment, metal products, other transportation, electrical appliances, and domestic appliances. The building & construction segment accounted for the largest market share in 2016 among the application segment. The growth factors associated with increasing application segment is rising residential, commercial, and institutional construction sectors. Based on region, the steel market is further categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis:

Regionally, steel market is classified into five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific dominated the global steel market in 2016, accounting for more than 67% of the value share of the global steel market. The regional market trends substantiating the growth of steel market include the rising contribution of transportation segment of the developing economies and constant growth of the numerous end-user application industry across Asia Pacific region. Moreover, the rapid urbanization in the region, high penetration of steel manufacturers, availability of cheap cost of labor are considered to have a positive impact on the overall steel market in the region. The other emerging markets such as Latin America and the Middle East & Africa seems to observe a healthy market trend as Asia Pacific.

Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/steel-market-5465

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/steel-market-5465

  Categories: