Steel Processing Global Market Report 2024

Description

“Steel Processing Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on steel processing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for steel processing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The steel processing market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Carbon Steel; Alloy Steel
2) By Shape: Long; Flat; Tabular
3) By Application: Construction; Shipping; Energy; Packaging; Consumer Appliances; Housing; Automotive
Companies Mentioned: Tata Steel Limited; Ansteel Group Corporation Limited; HBIS Group; JFE Holdings Inc.; Shandong Iron And Steel Group Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Steel processing is the method of creating steel from iron ore and scrap. This procedure entails eliminating impurities such as nitrogen, silicon, phosphorus, sulfur, and excess carbon from the sourced iron. Additionally, alloying elements such as manganese, nickel, chromium, and carbon are added to enhance the quality and tensile strength of steel. This allows for the transformation of steel from iron plates, enabling the production of essential steel products.

Two main types of steels are involved in steel processing carbon steel and alloy steel. Carbon steel is a steel type that forms an alloy of iron and carbon, characterized by a higher carbon content compared to other steel types. This higher carbon content contributes to greater durability and a lower melting point. Carbon steel is available in various shapes, including flat, long, and tubular, and finds applications in construction, shipping, energy, packaging, consumer appliances, housing, and automotive industries.

The steel processing market research report is one of a series of new reports from The Business Research Company that provides steel processing market statistics, including steel processing industry global market size, regional shares, competitors with a steel processing market share, detailed steel processing market segments, market trends and opportunities, and any further data you may need to thrive in the steel processing industry. This steel processing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The steel processing market size has grown steadily in recent years. It will grow from $701.38 billion in 2023 to $725.17 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The expansion observed in the historical period can be linked to the processes of industrialization and urbanization, increased activities in construction and real estate, the automotive industry's growth, heightened demand within the energy sector, the upsurge in global trade, and the emphasis on steel recycling and sustainability.

The steel processing market size is expected to see steady growth in the next few years. It will grow to $819.98 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The anticipated growth in the forecast period is linked to the development of smart infrastructure, advancements in steel alloys, the production of electric vehicles (EVs), global investments in infrastructure, and efforts towards energy efficiency and emission reduction. Key trends in the forecast period encompass strategic mergers and acquisitions, the implementation of smart manufacturing and Industry 4.0, steel recycling initiatives, the formation of strategic alliances and collaborations, and the digital transformation in manufacturing.

The anticipated growth in the steel processing market is expected to be driven by the increasing construction industry. Construction involves the assembly of structures, including buildings, roads, and bridges, and steel processing is integral to creating durable and versatile steel structures for construction projects, providing enhanced strength and resistance to rusting. For example, in April 2023, data from the United States Census Bureau revealed an over 8% increase in the overall value of residential and non-residential constructions in the US between 2020 and 2021. Additionally, reports by Oxford Economics in September 2021 projected a 42% increase in global construction output, reaching USD 15.2 trillion between 2020 and 2030. Consequently, the flourishing construction industry is expected to boost the growth of the steel processing market.

The growth of the steel processing market is anticipated to be propelled by the expanding automotive industry. The automotive sector encompasses various activities related to the design, development, manufacturing, marketing, sale, and maintenance of motor vehicles. In the automotive industry, steel processing is crucial for creating vehicles that are durable, safe, and efficient. The malleability and strength of steel make it a preferred material for structural components, enabling the vehicles to withstand impacts and ensure safety. According to a report by the European Automobile Manufacturers' Association (ACEA) in May 2023, the global production of motor vehicles reached 85.4 million in 2022, indicating a 5.7% increase over 2021. Hence, the growing automotive industry plays a significant role in propelling the steel processing market.

Technological advancement stands out as a prominent trend gaining traction in the steel processing market. Key players in the market are actively engaged in developing innovative solutions to fortify their positions. For example, in October 2022, Metso Outotec, a Finland-based engineering services company, introduced a direct-reduced iron (DRI) smelting furnace designed to support the iron and steel industry's decarbonization efforts. This cutting-edge technology caters to steel producers aiming to significantly reduce CO2 emissions with minimal modifications to other parts of the steel plant. It serves as a substitute for blast furnaces in hot metal production, offering distinctive benefits such as flexibility for any DRI feed, high productivity exceeding 1.2 million TPA, the capacity to handle substantial slag volumes, and continuous production of hot metal with high availability and an extended campaign life.

Major companies in the steel processing market are advancing sustainable steel products through Nucor's recycled scrap-based electric arc furnace manufacturing process. Sustainable steel products are those manufactured using processes and practices that minimize environmental impact, promote social responsibility, and ensure economic viability throughout their lifecycle. For instance, in January 2023, Nucor, a US-based steel production company, introduced Elcyon, the first sustainable steel product tailored for offshore wind energy applications. This clean, advanced steel product is produced using Nucor's recycled scrap-based electric arc furnace manufacturing process. Elcyon meets the rigorous quality standards of offshore wind energy designers, manufacturers, and fabricators, featuring larger plate dimensions, improved weldability, and excellent fracture toughness compared to competing products.

In December 2021, Worthington Industries Inc., a US-based metals manufacturing company, acquired Tempel Steel Company for $255 million. This strategic acquisition is aimed at expanding Worthington Industries Inc.'s manufacturing facilities globally and enhancing its capability to manufacture a diverse range of steel products. Tempel Steel Company is a US-based steel manufacturing and processing company.

Major companies operating in the steel processing market report are Tata Steel Limited, Ansteel Group Corporation Limited, HBIS Group, JFE Holdings Inc., Shandong Iron And Steel Group Co. Ltd., Pohang Iron and Steel Company (POSCO), Nippon Steel Corporation, ArcelorMittal S.A., Baowu Steel Group Corp. Ltd., Jiangsu Shagang Group Company Limited, Maanshan Iron And Steel Company Limited, Hyundai Steel Co. Ltd., United States Steel Corporation, Angang Steel Company Limited, Riva Group, Kobe Steel Ltd., Nucor Corporation, Fangda Group, Daido Steel Co. Ltd., JSW Steel Limited, Baosteel Group Corporation, Gerdau SA, Sandvik AB, Kennametal Inc., Hudson Tool Steel Corporation, voestalpine High Performance Metals GmbH, NACHI-FUJIKOSHI CORP., SSAB Svenskt Stal AB, Wuhan Iron and steel corporation, Hebei Iron and Steel Group

Asia-Pacific was the largest region in the steel processing market in 2023. The regions covered in the steel processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the steel processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The steel processing market consists of revenues earned by entities by providing steel cutting, steel welding, steel and metal burning, steel blanketing, and steel slitting services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12118

1. Executive Summary

2. Steel Processing Market Characteristics

3. Steel Processing Market Trends And Strategies

4. Steel Processing Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Steel Processing Market Size and Growth

5.1. Global Steel Processing Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Steel Processing Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Steel Processing Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Steel Processing Market Segmentation

6.1. Global Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Carbon Steel
Alloy Steel
6.2. Global Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Long
Flat
Tabular
6.3. Global Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Construction
Shipping
Energy
Packaging
Consumer Appliances
Housing
Automotive

7. Steel Processing Market Regional And Country Analysis

7.1. Global Steel Processing Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Steel Processing Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Steel Processing Market

8.1. Asia-Pacific Steel Processing Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Steel Processing Market

9.1. China Steel Processing Market Overview
9.2. China Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Steel Processing Market

10.1. India Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Steel Processing Market

11.1. Japan Steel Processing Market Overview
11.2. Japan Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Steel Processing Market

12.1. Australia Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Steel Processing Market

13.1. Indonesia Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Steel Processing Market

14.1. South Korea Steel Processing Market Overview
14.2. South Korea Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Steel Processing Market

15.1. Western Europe Steel Processing Market Overview
15.2. Western Europe Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Steel Processing Market

16.1. UK Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Steel Processing Market

17.1. Germany Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Steel Processing Market

18.1. France Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Steel Processing Market

19.1. Italy Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Steel Processing Market

20.1. Spain Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Steel Processing Market

21.1. Eastern Europe Steel Processing Market Overview
21.2. Eastern Europe Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Steel Processing Market

22.1. Russia Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Steel Processing Market

23.1. North America Steel Processing Market Overview
23.2. North America Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Steel Processing Market

24.1. USA Steel Processing Market Overview
24.2. USA Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Steel Processing Market

25.1. Canada Steel Processing Market Overview
25.2. Canada Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Steel Processing Market

26.1. South America Steel Processing Market Overview
26.2. South America Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Steel Processing Market

27.1. Brazil Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Steel Processing Market

28.1. Middle East Steel Processing Market Overview
28.2. Middle East Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Steel Processing Market

29.1. Africa Steel Processing Market Overview
29.2. Africa Steel Processing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Steel Processing Market, Segmentation By Shape, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Steel Processing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Steel Processing Market Competitive Landscape And Company Profiles

30.1. Steel Processing Market Competitive Landscape
30.2. Steel Processing Market Company Profiles
- 30.2.1. Tata Steel Limited
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Ansteel Group Corporation Limited
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. HBIS Group
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. JFE Holdings Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Shandong Iron And Steel Group Co. Ltd.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Steel Processing Market Competitive Benchmarking

32. Global Steel Processing Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Steel Processing Market

34. Steel Processing Market Future Outlook and Potential Analysis

34.1 Steel Processing Market In 2028 - Countries Offering Most New Opportunities
34.2 Steel Processing Market In 2028 - Segments Offering Most New Opportunities
34.3 Steel Processing Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer