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PUBLISHER: IMARC | PRODUCT CODE: 1347549

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PUBLISHER: IMARC | PRODUCT CODE: 1347549

Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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Market Overview:

The global steel market size reached US$ 907 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,077 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.

Steel is a hard, strong grey or bluish-grey alloy produced by combining vital ingredients with iron and various elements. It is commonly available in flat and long steel variants. It is manufactured by melting raw materials, such as coal, iron ore and lime in a blast furnace and removing impurities. Steel is commonly used for the manufacturing of utensils, electrical cable trays, machines crews and hinges. It enhances toughness, design flexibility, tensile strength, anti-corrosion properties and malleability and improves overall shelf life. In comparison to iron, steel can efficiently be designed and molded in various forms to offer enhanced shape with a wide range of dimensions and extreme purity. As a result, steel finds extensive application across various industries, such as automotive, manufacturing and construction.

Steel Market Trends:

Significant growth in the automotive industry across the globe is creating a positive outlook for the market. Steel is widely used in the production of automobile structures, such as doors, engines, trunk closures, braking systems, fuel tanks, gears steering and braking systems. In line with this, the increasing demand for flat steel by automobile manufacturers to enhance fuel efficiency and reduce the overall weight of the vehicles is favoring the market growth. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) and the development of rolling and casting techniques that assist in improving steel production methods to create designs that are resistant to pressure, temperature and corrosion, are providing an impetus to the market growth. Additionally, the widespread product adoption in the construction industry due to its properties, including ductility and durability, thus making the buildings earthquake-resistant, is positively impacting the market growth. Other factors, including the increasing product demand for manufacturing military aircraft and extensive infrastructural developments across the globe, are anticipated to drive the market toward growth

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global steel market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and application.

Breakup by Type:

Flat Steel

Long Steel

Breakup by Product:

Structural Steel

Prestressing Steel

Bright Steel

Welding Wire and Rod

Iron Steel Wire

Ropes

Braids

Breakup by Application:

Building and Construction

Electrical Appliances

Metal Products

Automotive

Transportation

Mechanical Equipment

Domestic Appliances

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ArcelorMittal S.A., EVRAZ plc, Gerdau S.A., Hyundai Steel Co. Ltd, JFE Steel Corporation (JFE Holdings Inc.), Jiangsu Shagang Group Co. Ltd, Nippon Steel Corporation, Nucor Corporation, Shougang Group Co. Ltd., Tata Steel Ltd. (Tata Group), thyssenkrupp AG and United States Steel Corporation.

Key Questions Answered in This Report

  • 1. What was the size of the global steel market in 2022?
  • 2. What is the expected growth rate of the global steel market during 2023-2028?
  • 3. What are the key factors driving the global steel market?
  • 4. What has been the impact of COVID-19 on the global steel market?
  • 5. What is the breakup of the global steel market based on the type?
  • 6. What is the breakup of the global steel market based on the product?
  • 7. What is the breakup of the global steel market based on application?
  • 8. What are the key regions in the global steel market?
  • 9. Who are the key players/companies in the global steel market?
Product Code: SR112023A5712

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Steel Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Type

  • 6.1 Flat Steel
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Long Steel
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast

7 Market Breakup by Product

  • 7.1 Structural Steel
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Prestressing Steel
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Bright Steel
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Welding Wire and Rod
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast
  • 7.5 Iron Steel Wire
    • 7.5.1 Market Trends
    • 7.5.2 Market Forecast
  • 7.6 Ropes
    • 7.6.1 Market Trends
    • 7.6.2 Market Forecast
  • 7.7 Braids
    • 7.7.1 Market Trends
    • 7.7.2 Market Forecast

8 Market Breakup by Application

  • 8.1 Building and Construction
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Electrical Appliances
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Metal Products
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Automotive
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Transportation
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast
  • 8.6 Mechanical Equipment
    • 8.6.1 Market Trends
    • 8.6.2 Market Forecast
  • 8.7 Domestic Appliances
    • 8.7.1 Market Trends
    • 8.7.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 ArcelorMittal S.A.
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
      • 14.3.1.3 Financials
      • 14.3.1.4 SWOT Analysis
    • 14.3.2 EVRAZ plc
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
      • 14.3.2.3 Financials
      • 14.3.2.4 SWOT Analysis
    • 14.3.3 Gerdau S.A.
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
    • 14.3.4 Hyundai Steel Co. Ltd
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
    • 14.3.5 JFE Steel Corporation (JFE Holdings Inc.)
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
    • 14.3.6 Jiangsu Shagang Group Co. Ltd
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
    • 14.3.7 Nippon Steel Corporation
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
      • 14.3.7.3 Financials
      • 14.3.7.4 SWOT Analysis
    • 14.3.8 Nucor Corporation
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
      • 14.3.8.3 Financials
      • 14.3.8.4 SWOT Analysis
    • 14.3.9 Shougang Group Co. Ltd.
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
    • 14.3.10 Tata Steel Ltd. (Tata Group)
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
      • 14.3.10.3 Financials
      • 14.3.10.4 SWOT Analysis
    • 14.3.11 thyssenkrupp AG
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio
      • 14.3.11.3 Financials
      • 14.3.11.4 SWOT Analysis
    • 14.3.12 United States Steel Corporation
      • 14.3.12.1 Company Overview
      • 14.3.12.2 Product Portfolio
      • 14.3.12.3 Financials
      • 14.3.12.4 SWOT Analysis
Product Code: SR112023A5712

List of Figures

  • Figure 1: Global: Steel Market: Major Drivers and Challenges
  • Figure 2: Global: Steel Market: Sales Value (in Billion US$), 2017-2022
  • Figure 3: Global: Steel Market Forecast: Sales Value (in Billion US$), 2023-2028
  • Figure 4: Global: Steel Market: Breakup by Type (in %), 2022
  • Figure 5: Global: Steel Market: Breakup by Product (in %), 2022
  • Figure 6: Global: Steel Market: Breakup by Application (in %), 2022
  • Figure 7: Global: Steel Market: Breakup by Region (in %), 2022
  • Figure 8: Global: Steel (Flat Steel) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 9: Global: Steel (Flat Steel) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 10: Global: Steel (Long Steel) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 11: Global: Steel (Long Steel) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 12: Global: Steel (Structural Steel) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 13: Global: Steel (Structural Steel) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 14: Global: Steel (Prestressing Steel) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 15: Global: Steel (Prestressing Steel) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 16: Global: Steel (Bright Steel) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 17: Global: Steel (Bright Steel) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 18: Global: Steel (Welding Wire and Rod) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 19: Global: Steel (Welding Wire and Rod) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 20: Global: Steel (Iron Steel Wire) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 21: Global: Steel (Iron Steel Wire) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 22: Global: Steel (Ropes) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 23: Global: Steel (Ropes) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 24: Global: Steel (Braids) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 25: Global: Steel (Braids) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 26: Global: Steel (Building and Construction) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 27: Global: Steel (Building and Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 28: Global: Steel (Electrical Appliances) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 29: Global: Steel (Electrical Appliances) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 30: Global: Steel (Metal Products) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 31: Global: Steel (Metal Products) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 32: Global: Steel (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 33: Global: Steel (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 34: Global: Steel (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 35: Global: Steel (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 36: Global: Steel (Mechanical Equipment) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 37: Global: Steel (Mechanical Equipment) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 38: Global: Steel (Domestic Appliances) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 39: Global: Steel (Domestic Appliances) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 40: North America: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 41: North America: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 42: United States: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 43: United States: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 44: Canada: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 45: Canada: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 46: Asia-Pacific: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 47: Asia-Pacific: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 48: China: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 49: China: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 50: Japan: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 51: Japan: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 52: India: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 53: India: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 54: South Korea: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 55: South Korea: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 56: Australia: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 57: Australia: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 58: Indonesia: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 59: Indonesia: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 60: Others: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 61: Others: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 62: Europe: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 63: Europe: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 64: Germany: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 65: Germany: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 66: France: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 67: France: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 68: United Kingdom: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 69: United Kingdom: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 70: Italy: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 71: Italy: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 72: Spain: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 73: Spain: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 74: Russia: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 75: Russia: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 76: Others: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 77: Others: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 78: Latin America: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 79: Latin America: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 80: Brazil: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 81: Brazil: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 82: Mexico: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 83: Mexico: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 84: Others: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 85: Others: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 86: Middle East and Africa: Steel Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 87: Middle East and Africa: Steel Market: Breakup by Country (in %), 2022
  • Figure 88: Middle East and Africa: Steel Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 89: Global: Steel Industry: SWOT Analysis
  • Figure 90: Global: Steel Industry: Value Chain Analysis
  • Figure 91: Global: Steel Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Steel Market: Key Industry Highlights, 2022 and 2028
  • Table 2: Global: Steel Market Forecast: Breakup by Type (in Million US$), 2023-2028
  • Table 3: Global: Steel Market Forecast: Breakup by Product (in Million US$), 2023-2028
  • Table 4: Global: Steel Market Forecast: Breakup by Application (in Million US$), 2023-2028
  • Table 5: Global: Steel Market Forecast: Breakup by Region (in Million US$), 2023-2028
  • Table 6: Global: Steel Market: Competitive Structure
  • Table 7: Global: Steel Market: Key Players
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