Steel Market - Forecast(2024 - 2030)

Report Code: CMR 1198 Report Format: PDF + Excel

Steel - Market Overview

Steel is an alloy that is made up of iron ore or scrap steel and carbon. In general, steels have various unique properties including being non-corrosive, rust-resistant and heavier than other metals such as aluminum. Therefore, steel is extensively used in various end-use industry verticals, including the manufacturing various transportation and automobile components, medical equipment, metal surgical implants, structural components and more, which in turn is boosting its market growth. The Steel market is analyzed to be $1,610.57 billion in 2021 and is projected to reach $1,864.34 billion in 2027. The market is estimated to grow with a CAGR of 4.13% during 2022-2027. The Steel Market is segmented by type, by form, by application and by industry in this report. The market is also segmented by geography, which include North America, South America, Europe, Asia-Pacific and Rest of the World.

Steel Market Revenue, 2021-2027 ($M)

Source: IndustryARC Analysis and Expert Insights

Steel Market Segment Analysis – By Type 
In terms of type, the Steel Market is segmented into carbon steel, stainless steel, alloy steel, tool steel and others. In 2021, the Stainless-steel segment generated the greatest revenue of $336.9 billion, and is projected to reach a revenue of $433.1 billion by 2027. Owing to the various benefits posed by stainless steel such as corrosion resistance, high and low temperature resistance, the ease of fabrication, strength, aesthetic appeal is one of the key factors for its adoption among various end-use industries, which in turn is boosting its market growth. The stainless-steel segment can be further classified as Austenitic stainless steels, Ferritic stainless steels, Martensitic stainless steels, Precipitation hardening grade stainless steel and Duplex stainless steels. 

Steel Market Segment Analysis – By Form 
By form, the steel market is segmented into bar, rod, tube, pipe, plate, sheet, structural and others. The bar segment accounted for the major market share in 2021, with a revenue of $506.1 billion and is forecast to grow at a CAGR of 4.68% by 2027. The increasing demand for steel bar from various end-user industries such as building and construction, bridges, and many others, are driving the growth of the segment during the forecast period of 2022-2027.

Steel Market Segment Analysis – By Application 
Steel Market is segmented by its application that includes transportation, construction, packaging, water projects, energy and others. The energy segment held the dominant market share, 31% of the whole market, in 2021, and is expected to maintain its dominance by 2027 with a CAGR of 4.69%. One of the major factors for the segment growth is the increasing awareness and focus towards renewable energy sources. Steel plays a crucial role in producing and distributing energy as well as improving energy efficiency. Renewable energy is further classified as Wind Towers and Foundation, Wind Turbines and Solar Parabolic Mirror Supports & Collectors. 

Steel Market Segment Analysis – By Industry
The Steel finds its application across the industries such as construction, machinery, automotive and transportation, kitchenware and domestic appliance, electrical and electronics, healthcare, energy and others. Among them, the construction segment is the largest consumer of steel, as bearable structures can be manufactured easily at a low cost. The property of steel in its various forms and alloys makes it more flexible to cater the exclusive projects integrated with infrastructure. Moreover, the rapid industrialization and urbanization in various developing countries are fueling the segment growth in strengthening its dominant market position during the forecast period.

Steel Market Segment Analysis - By Geography/Country 
The report comprises of the region wise study of the global market including North America, South America, Europe, Asia-Pacific and Rest of the World. Above all, Asia-Pacific region held the biggest share in 2021, up to 72% of the whole steel market owing to the rapidly expanding defense, machinery, automotive, and shipbuilding industries in the countries such as India, China, South Korea, and Japan. Foreign direct investment in energy and infrastructure is likely to provide opportunities for the market vendors. Coupled with favorable government regulations, growing infrastructure and construction activities in developing economies of the Asia-Pacific region are boosting the demand for the market. 

Steel Market - Drivers 
Several factors have a significant impact on the overall development of the steel market. The major growth factor driving the Steel Market is growing demand for steel across a variety of developing regions. For example, in India, the second largest producer of crude steel, domestic per capita finished steel consumption is expected to rise from 72.3kg in 2021 to 160kg by 2030-2031. Additionally, steel production in India increased by 9.3% in July 2021 over July 2020
Steel Market - Competitive Landscape
The companies referred in the study include Arcelormittal, Baosteel Co., Ltd., Posco Holding Inc., Nippon Steel Corporation, JFE Holdings, Jiangsu Shagang Group Company Limited, Tata Steel Limited, United States Steel Corporation, Anshan Iron and Steel Group Corporation, and Gerdau.  Technology launches, acquisitions, and R&D activities are key strategies adopted by the key players in the Steel Market. 
Steel Market - Recent Developments

In April 2021, Nippon Steel Corporation announced the launch of their new ZAM-EX high corrosion resistant coated steel sheets for overseas market.
In August 2021, Tata Steel announced to invest Rs. 8,000 crore ($1.08 billion) in capital expenditure to develop operations in India in FY22. 
In September 2021, ArcelorMittal announced that the company has signed an agreement with the Government of Liberia to expand the company’s mining and logistics operation in Liberia.

Steel Market – Report Scope and Coverage
The base year of the study is 2021, with forecast done up to 2027. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Steel Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, and Steel manufacturing method analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the key global Steel Market players, to define, describe and analyze the sales value, market share, SWOT analysis and development plans in upcoming years.

By Type: Carbon Steel, (Low Carbon Steel, Medium Carbon Steel, High Carbon Steel), Stainless Steel (Austenitic Stainless Steels, Ferritic Stainless Steels, Martensitic Stainless Steels, Precipitation Hardening Grade Stainless Steels, Duplex Stainless Steels), Alloy Steel (Chromium Molybdenum Steel, Nickel-Chromium-Molybdenum Steel, Chromium Vanadium Steel, HSLA -Nickel-Chromium-Molybdenum Steel), Tool Steel (Water-hardening tool steels, Shock-resisting tool steels, Cold-work tool steels, Hot-work steels, High-speed tool steels, Others), Others

By Form: Bar, Rod, Tube, Pipe, Plate, Sheet, Structural, Others

By Application: Transportation (Road, Bridges, Barriers, Rail, Tracks, Rail Cars), Construction (Cool Metal (infrared reflecting) Roofing, Purlins, Beams, Pipe, Recyclable steel framing (studs), Desks/Furniture), Packaging (Canes, Bottles, Others), Water Projects (Levees/Dams/Locks), Energy (Renewable, Nuclear, Bio-fuels, Fossil, Electric Grid), Others

By Industry: Construction (Steel Skeletons, Concrete Walls, Pillars, Nails, Bolts, Screws, Others), Machinery (Bulldozers, Backhoe Leaders, Pipelayers, Others), Automotive and Transportation (Exhaust, Trim/Decorative, Engine, Chassis, Fasteners, Tubing For Fuel Lines), Kitchenware and Domestic Appliances (Small Household Appliances, Black Home Appliances, White Home Appliances), Electrical and Electronics (Motor Mount Brackets, Adapter Plates, Electronic Frames and Chassis, Brackets, Others), Healthcare (Orthopaedic Implants, Artificial Heart Valves, Bone Fixation, Catheters, Others), Energy (Scrubbers, Heat Exchangers, Others)

By Region: North America, South America, Europe, Asia-Pacific and Rest of the World

 1. Steel Market - Market Overview
    1.1. Definitions and Scope
 2. Steel Market- Executive Summary
 3. Steel Market - Landscape
    3.1. Comparative analysis 
        3.1.1. Market Share Analysis - Top Companies
        3.1.2. Product Benchmarking - Top Companies
        3.1.3. Top 5 Financials Analysis
        3.1.4. Patent Analysis- Top Companies
        3.1.5. Pricing Analysis
 4. Steel Market - Startup companies Scenario Premium Premium  
    4.1. Top startup company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Market Shares
        4.1.4. Market Size and Application Analysis
        4.1.5. Venture Capital and Funding Scenario
 5. Steel Market – Industry Market Entry Scenario Premium Premium  
        5.1. Regulatory Framework Overview
        5.2. New Business and Ease of Doing business index
        5.3. Case studies of successful ventures
        5.4. Customer Analysis - Top companies
 6.Steel Market - Market Forces
    6.1.Market Drivers
    6.2. Market Constraints
    6.3. Market Opportunities
    6.4. Porters five force model
        6.4.1. Bargaining power of suppliers
        6.4.2. Bargaining powers of customers
        6.4.3. Threat of new entrants
        6.4.4. Rivalry among existing players
        6.4.5. Threat of substitutes 
 7. Steel Market - Strategic analysis
    7.1. Value chain analysis
    7.2. Opportunities analysis
    7.3. Market life cycle
    7.4. Suppliers and distributors Analysis
 8. Steel Market – By Type (Market Size - US$Million)
    8.1. Carbon Steel
        8.1.1. Low Carbon Steel
        8.1.2. Medium Carbon Steel
        8.1.3. High Carbon Steel
    8.2. Stainless Steel
        8.2.1. Austenitic Stainless Steel
        8.2.2. Ferritic Stainless Steel
        8.2.3. Martensitic Stainless Steel
        8.2.4. Precipitation Hardening Grade Stainless Steel
        8.2.5. Duplex Stainless Steel
    8.3.Alloy Steel
        8.3.1. Chromium Molybdenum Steel
        8.3.2. Nickel Chromium Molybdenum Steel
        8.3.3. Chromium Vanadium Steel
        8.3.4. HSLA-Nickel-Chromium-molybdenum Steel
    8.4. Tool Steel
        8.4.1. Water Hardening Tool Steel
        8.4.2. Shock-Resisting Tool Steel
        8.4.3. Cold-Work Tool Steel
        8.4.4. Hot Work Steel
        8.4.5. High-Speed Tool Steel
        8.4.6. Others
    8.5. Others
 9. Steel Market – By Form (Market Size - US$Million)
    9.1. Bar
    9.2. Rod
    9.3. Tube
    9.4. Pipe
    9.5. Plate
    9.6. Sheet
    9.7. Structural
    9.8. Others
 10. Steel Market – By Application (Market Size - US$Million)
    10.1. Transportation
        10.1.1. Road
        10.1.2. Bridges
        10.1.3. Barriers
        10.1.4. Rail
        10.1.5. Tracks
        10.1.6. Rail Cars
    10.2. Construction
        10.2.1. Cool Metal (infrared reflecting) Roofing  
        10.2.2. Purlins
        10.2.3. Beams
        10.2.4. Pipe
        10.2.5. Recyclable steel framing (studs)
        10.2.6. Desks/Furniture
    10.3. Packaging
        10.3.1. Canes
        10.3.2. Bottles
        10.3.3. Others
    10.4. Water Projects
        10.4.1. Levees/Dams/Locks
    10.5. Energy
        10.5.1. Renewable
        10.5.2. Nuclear
        10.5.3. Bio-fuels
        10.5.4. Fossil
        10.5.5. Electric Grid
    10.6. Others
 11. Steel Market – By Industry (Market Size - US$Million)
    11.1. Construction
        11.1.1. Steel Skeletons
        11.1.2. Concrete Walls 
        11.1.3. Pillars
        11.1.4. Nails
        11.1.5. Bolts
        11.1.6. Screws
        11.1.7. Others
    11.2. Machinery
        11.2.1. Bulldozers
        11.2.2. Backhoe Leaders
        11.2.3. Pipelayers
        11.2.4. Others
    11.3. Automotive and Transportation
        11.3.1. Exhaust
        11.3.2. Trim/Decorative
        11.3.3. Engine
        11.3.4. Chassis
        11.3.5. Fasteners
        11.3.6. Tubing For Fuel Lines
 11.4. Kitchenware and Domestic Appliances
        11.4.1. Small Household Appliances
        11.4.2. Black Home Appliances
        11.4.3. White Home Appliances
 11.5. Electrical and Electronics
        11.5.1. Motor Mount Brackets
        11.5.2. Adapter Plates
        11.5.3. Electronic Frames and Chassis
        11.5.4. Brackets
        11.5.5. Others
    11.6. Healthcare
        11.6.1. Orthopaedic Implants
        11.6.2. Artificial Heart Valves
        11.6.3. Bone Fixation
        11.6.4. Catheters
        11.6.5. Others
    11.7. Energy
        11.7.1. Scrubbers
        11.7.2. Heat Exchangers
    11.8. Others
 12. Steel Market - By Geography (Market Size - US$Million)
    12.1. North America
        12.1.1. U.S.
        12.1.2. Canada
        12.1.3. Mexico
    12.2. South America
        12.2.1. Brazil
        12.2.2. Argentina
        12.2.3. Colombia
        12.2.4. Chile
        12.2.5. Rest of South America
    12.3. Europe
        12.3.1. U.K
        12.3.2. Germany
        12.3.3. Italy
        12.3.4. France
        12.3.5. Spain
        12.3.6. Rest of Europe
    12.4. Asia-Pacific
        12.4.1. China
        12.4.2. India
        12.4.3. Japan
        12.4.4. South Korea
        12.4.5. Australia & New Zealand
        12.4.6. Rest of Asia Pacific
    12.5. RoW
        12.5.1. Middle East
        12.5.2. Africa
 13. Steel Market - Entropy
        13.1. New Product Launches
        13.2. M&A’s, Collaborations, JVs and Partnerships
 14. Steel Market - List of Key Companies by Country Premium  
 15. Steel Market - Company Analysis
        15.1. Market Share, Company Revenue, Products, M&A, Developments
        15.2. Arcelormittal
        15.3. Baosteel Co., Ltd.
        15.4. Posco Holding Inc.
        15.5. Nippon Steel Corporation
        15.6. JFE Holdings
        15.7. Jiangsu Shagang Group Company Limited
        15.8. Tata Steel Limited
        15.9. United States Steel Corporation
        15.10. Anshan Iron and Steel Group Corporation
        15.11. Gerdau

*"Financials would be provided to private companies on a best-effort basis."