Steel Product Market Scope
Steel is an alloy of iron and carbon containing less than 2 percent carbon and 1 percent manganese and small amounts of silicon, sulphur, phosphorus, and oxygen. It is the world's most vital engineering and construction material. It is also society’s most important industrially produced material. A large share of the finished steel products e.g. plate, rods, strip, and bars, profiles, wire, and tube are further processed by the engineering industry into products for their intended applications i.e. the end products. Certain finished products are used directly in the construction sector e.g. profiles and bars. Some product fabrication also occurs at the steel companies. This so-called manufacturing spans an extensive area: from high-purity stainless steel tubing for the electronics industry, metal injection moulded safety components in motor vehicles to welded profiles for structures.
The market study is being classified by Type (Flat Steel, Long Steel, Tubular Steel, Steel Pipe, Steel Tube and Others), by Application (Automotive, Machinery, Oil and Gas, Construction and Others) and major geographies with country level break-up.
Research Analyst at AMA predicts that Chinese Vendors will contribute to the maximum growth of Global Steel Product market throughout the predicted period.
China Baowu Steel Group (China), Shougang Group (China), POSCO (South Korea), Hesteel Group (China), JFE Holdings (Japan), Nippon Steel and Sumitomo Metal (Japan), Shandong Iron and Steel Group (China), Ansteel Group (China), Jiangsu Shagang (China), Tata Steel (India), Novolipetsk Steel (Russia), China Steel (China), Nucor Corporation (United States), JSW Steel Ltd (India), Jianlong Steel (China), ThyssenKrupp (Germany), Hyundai Steel (South Korea), Valin Steel Group (China), Gerdau (Brazil), Maanshan Iron and Steel Company (China), Evraz (United Kingdom), Benxi Steel Group (China) and Fangda Steel (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Rizhao Steel (zh) (China), Baotou Steel (China), IMIDRO (Iran), Steel Authority of India Limited (India), Magnitogorsk Iron and Steel Works (Russia) and United States Steel Corporation (United States).
AdvanceMarketAnalytics has segmented the market of Global Steel Product market by Type, Application and Region.
On the basis of geography, the market of Steel Product has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 13 Nov 2019, POSCO Launches ‘INNOVILT’ – A Premium Brand of Steel Products for Construction. Steel products for construction are used in architectural structures like buildings and houses, and infrastructures like roads and bridges. However, these products are usually hidden under the structure, and even if they are visible, it is hard to recognize the manufacturer just by looking at the end-product.
On 30 Oct 2019, NLMK Lipetsk, the flagship site of NLMK Group, has started commercial deliveries of S500MC and S550MC high-strength HRC (yield strength 500 and 550 MPa) to the Russian market. These steel products are used in the manufacture of dump truck bodies, scrap trucks, truck chassis, cranes and other special purpose machinery. The use of high-strength steel in structures enables a 20% increase in carrying capacity, reduced weight, and lower fuel consumption per tonne of cargo. S500MC and S550MC steel grades are 40% stronger than general-purpose hot-rolled products, and are used in heavy-duty structures and components. The metal undergoes special thermomechanical treatment at NLMK's Hot Rolling Mill to acquire its strength properties.
- The Increased Demand from the Automotive Sector
- Increasing Urban Population
- Increasing Industrialization and Infrastructure Investment in Emerging Markets
- The Growing Machinery Industries Worldwide
- High Recyclability of Steel Scrap
- Relaxed Credit Policy in Emerging Economies
- Volatile Price of Raw Materials
- Eliminating Excess Capacity
Key Target AudienceSteel Product Manufacturers, Steel Product Raw Material Suppliers, Steel Product Traders/Distributors, Steel Product Importer/Exporter, Regulatory & Government Bodies, End User Industries and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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