San Francisco, 29
January, Steel Market Analysis By
Product (Hot, Cold, Direct Rolled, Tubes), By Application (Pre-engineered Metal
Buildings, Bridges, Industrial Structures), By PMB, By Region, And Segment
Forecasts, 2018 - 2025
The global steel market is expected to reach USD
1.01 trillion by 2025, according to a new report by Grand View Research, Inc.
Growing inclination of contractors towards sustainable, low cost and durable
building materials is driving steel demand in upcoming residential projects
& industrial infrastructure.
Technological advancements have
made pre-engineered metal buildings with high structural integrity a reality,
where steel plays an essential function in lending stability, aesthetic appeal
and design flexibility. Stringent regulations promoting green &
energy-efficient buildings is also contributing to steel demand, especially in
industrial structures.
The Asia Pacific market is
relatively subdued, but displays high growth owing to exponential growth in the
Indian market as of 2017 on account of protectionist measures & rising
demand. About 1/3rd of Chinese exports are shipped to countries in Southeast
Asia owing to anti-dumping policies by western countries, which has contributed
to economic growth and infrastructure development in these countries.
Hot rolled products dominated
the steel industry with over 75% of the volume share in 2016. These products
are widely utilized in automobile structures such as frames, wheel and other
parts as well as welding and construction trades among others.
Access Full Research
Report On Steel Market Analysis:
Further key findings from the report suggest:
·
The global steel demand
exceeded 1.71 million tons in 2016 and is expected to grow at a CAGR of 2.1%
from 2017 to 2025
·
Steel tubes are anticipated to
grow at above 3% CAGR in terms of volume, owing to high demand for underground
pipelines in fuel & water transportation
·
Cold rolled products are
expected to grow at 3.1% CAGR in terms of revenue, owing to their excellent
inherent as well as physical properties including high concentricity and
tensile strength, straightness and better aesthetic appeal
·
Pre-engineered metal building
(PMB) structures are increasingly replacing other conventional structures since
they are over 30% lighter, providing simpler and lightweight designs
·
Steel roofs & walls are
expected to grow at a CAGR of 2.7% in terms of revenue; they generally aid in
minimizing energy loss, heat gain whilst maximizing thermal comfort and fire
safety properties in PMBs
·
North America & Europe are
expected to remain dominant yet mature steel-consuming regions, owing to market
saturation and low construction spending as compared to emerging economies;
however, rising housing starts in the U.S. may offer lucrative opportunities
for innovative producers & distributors
·
Major industry participants
include Emirates Steel, Hamriyah Steel FZC, Al Nasser Industrial Enterprises
LLC, United Iron & Steel Co., Al Ghurair Iron & Steel Co., Al Rajhi
Steel, Absal Steel, ArcelorMittal, Hadeed (SABIC), and Solb Steel Company among
others
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the
global steel market on the basis of product, application, and region:
Steel Product Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Hot Rolled Steel
·
Cold Rolled Steel
·
Direct Rolled Steel
·
Tubes
·
Other Profiles
Steel Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Pre-Engineered Metal Buildings
o
Primary Members
o
Secondary Members
o
Roofs & Walls
o
Panels
·
Bridges
·
Industrial Structures
Steel Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Mexico
o
Brazil
·
Middle East & Africa
o
Bahrain
o
Egypt
o
Iran
o
Iraq
o
Jordan
o
Kuwait
o
Libya
o
Oman
o
Qatar
o
Saudi Arabia
o
Sudan
o
Syria
o
Turkey
o
United Arab Emirates
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-steel-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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