PUBLISHER: Visiongain | PRODUCT CODE: 1809413
PUBLISHER: Visiongain | PRODUCT CODE: 1809413
The global Steel market is projected to grow at a CAGR of 4.2% by 2035.
The Steel Market Report 2025-2035 (Including Impact of U.S. Trade Tariffs): This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Expanding Infrastructure Development Worldwide
One of the most significant drivers of global steel market growth is the surge in infrastructure investments across emerging and developed economies. Governments are prioritizing large-scale projects in transportation, urban housing, and energy. For instance, India's National Infrastructure Pipeline, with an estimated investment target exceeding USD 1.4 trillion by 2030, is fuelling demand for long and flat steel products. Similarly, China's continued focus on Belt and Road Initiative projects sustains a steady requirement for construction-grade steel. In the West, the U.S. Infrastructure Investment and Jobs Act, which allocates USD 1.2 trillion for upgrading roads, bridges, and railways, is spurring opportunities for producers such as U.S. Steel Corporation and Nucor. These large public projects not only ensure stable consumption but also encourage technological advancements in steel products with higher durability and efficiency.
Volatility in Raw Material Prices
One of the most persistent challenges in the steel industry is the volatility in the prices of key raw materials such as iron ore, coking coal, and scrap. These fluctuations are often driven by geopolitical tensions, mining restrictions, or shifts in global demand. For instance, in 2022, iron ore prices surged above USD 150 per ton due to supply constraints in Brazil and Australia, impacting profit margins for major producers like ArcelorMittal and JSW Steel. Smaller producers without long-term supply contracts are particularly vulnerable to such volatility, which disrupts production planning and increases overall costs. This dependency on external supply chains highlights the fragility of the industry to raw material price shocks.
What would be the Impact of US Trade Tariffs on the Global Steel Market?
U.S. steel tariffs, particularly the recent increase to 50% on certain imports, are significantly reshaping the global steel market. Initially introduced to protect domestic production and reduce reliance on foreign steel, these tariffs have caused ripple effects across supply chains. Countries like Mexico are negotiating quota-based exemptions, aiming to preserve their steel exports critical to U.S. industries such as automotive and construction. While these measures benefit U.S. steelmakers by supporting local prices and capacity utilization, they create cost pressures for downstream manufacturers who rely on imported steel inputs.
Globally, the tariffs have encouraged a redirection of steel trade flows. Exporters such as China, India, and South Korea are shifting volumes toward markets in Southeast Asia, Africa, and Latin America to compensate for reduced U.S. access. In some cases, countries are retaliating with their own trade barriers, further fragmenting global trade. The long-term impact includes increased regionalization of steel markets and a possible acceleration in the establishment of local manufacturing hubs to mitigate tariff-related risks. Overall, U.S. tariffs have increased uncertainty, raising production costs in some regions while fostering investment and policy responses in others.
What Questions Should You Ask before Buying a Market Research Report?
You need to discover how this will impact the steel market today, and over the next 10 years:
Segments Covered in the Report
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 25 leading national markets:
The report also includes profiles and for some of the leading companies in the Steel Market, 2025 to 2035, with a focus on this segment of these companies' operations.
Overall world revenue for Steel Market, 2025 to 2035 in terms of value the market will surpass US$1,796.1 billion in 2025, our work calculates. We predict strong revenue growth through to 2035. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.