Press release
Steel Processing Market 2022 | Global Key Player; Steel Authority of India Limited, ThyssenKrupp AG, Jiangsu Shagang Group Company Limited, Severstal PAO, Hebei Iron & Steel Co Ltd, Hyundai Steel Co., Bridon International Ltd, Kobe Steel, Ltd., Maanshan I
Steel processing is done to produce varied intermediate steel products which serve as inputs to business in other industries. As per the analysis of market Research Future (MRFR), the global steel processing market is expected to reach USD 600 Bn at a CAGR of 2% by the end of the forecast period of 2016-2022.
Steel is the most widely used structural material in the world and practically finds application in almost all industries. The global steel processing industry is growing in tandem with the increase in global industrial production. High industrial output in advanced economies along with rapid industrialization in the developing countries has provided impetus to the growth of the global steel processing industry. Steel forms an indispensable part in a myriad of products. The urban population requires a massive amount of new steel products which boosts the growth of the market.
Increasing infrastructural activities, especially in the developing countries induce high demand within the steel processing market. Steel is largely used in the making of railway tracks, roads, bridges, and others.
Constructional activities around the globe have also picked up pace in recent years. Government support towards the housing industry has also propelled residential construction which provides a boost to the global steel processing market. The automotive sector also generates a substantial share of the global market demand.
Continuous modernization and up gradation of steel processing plants and advancement in processing technology has reflected favorably on the market growth. Besides, the steel processing industry has witnessed an influx of major investments and developments in the recent past which has fostered the growth of the market.
Get Free Sample Report Now@ https://www.marketresearchfuture.com/sample_request/2150
Segmentation
The global steel processing market has been segmented based on steel type and application.
By steel type, the global steel market has been segmented into Alloy Steel, and Carbon Steel. The carbon steel segment is expected to lead the global market. Being harder than alloy steel, carbon steel is extensively used for construction purposes.
By application, the global steel processing market has been segmented into Construction, Energy, Automotive, Consumer Goods and others. Application-wise, the construction segment is expected to dominate the market.
Regional Analysis
Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW) are the key markets for steel processing.
APAC market for steel processing is expected to showcase rapid growth over the forecast period due to large-scale industrialization taking place in the region. The major shift in manufacturing base in APAC has further accelerated the growth of the steel processing market in the region. Availability of relatively cheap labor and land coupled with ease of operations purveyed by favorable government policies has led to set up multiple steel processing plants in the region. Infrastructural development in the region generates high demand for processed steel. Availability of iron ore in abundance in the region is also a factor that cannot be ignored. China, India, Japan, Brazil are among the countries with high steel production capacity.
North America too is a significant market for steel processing driven by continuous demand for steel from various industries. The US is among the world's top steel producing economy.
Competitive Landscape
The key players in the global steel processing market include Tata Steel Ltd, Hyundai Steel Co., ThyssenKrupp AG, Steel Authority of India Limited, Bridon International Ltd, Hebei Iron & Steel Co Ltd, Kobe Steel, Ltd., Jiangsu Shagang Group Company Limited, Severstal PAO, and Maanshan Iron & Steel Company Limited.
Industry Updates
February 2019- Steel Authority of India Limited (SAIL), inaugurated its new steel processing unit in Champaran, Bihar. An investment of 1.16 billion has been made on ten same and the production facility will churn out high-quality steel tubes and pipes.
Get Complete Report@ https://www.marketresearchfuture.com/reports/steel-processing-market-2150
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Steel Processing Market 2022 | Global Key Player; Steel Authority of India Limited, ThyssenKrupp AG, Jiangsu Shagang Group Company Limited, Severstal PAO, Hebei Iron & Steel Co Ltd, Hyundai Steel Co., Bridon International Ltd, Kobe Steel, Ltd., Maanshan I here
News-ID: 1661323 • Views: …
More Releases from Market Research Future (MRFR)
Tofu Market to Reach USD 2.7 Billion by 2032 at 9.01% CAGR Driven by Rising Plan …
The global tofu market is poised for substantial growth over the next decade, projected to reach an impressive valuation of USD 2.7 billion by 2032. This expansion reflects a compound annual growth rate (CAGR) of 9.01% from 2024 to 2032, fueled by a surge in consumer demand for plant-based foods and an evolving global food culture. As more consumers seek healthier and sustainable alternatives to animal-based protein sources, tofu has…
Plant-Based Food Ingredients Market to Hit USD 40.2 Billion by 2035 at 7.96% CAG …
The global plant-based food ingredients market is witnessing remarkable growth, propelled by an increasing shift in consumer preferences toward healthier and more sustainable food options. According to recent market research by Market Research Future, the market was valued at USD 16.03 billion in 2023 and is projected to reach an impressive USD 40.2 billion by 2035. This growth trajectory is expected to continue at a compound annual growth rate (CAGR)…
Semolina Market to Reach USD 2.57 Billion by 2032 at 2.31% CAGR, Driven by Healt …
The global semolina market is poised for steady growth over the coming decade, with its valuation expected to reach USD 2.57 billion by 2032. According to the latest Market Research Future analysis, the market was valued at USD 2.12 billion in 2023 and is projected to expand from USD 2.14 billion in 2024 to USD 2.57 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.31% during the…
Ginger Extract Market to Reach USD 2.18 Billion by 2034 at 5.4% CAGR Driven by D …
The global ginger extract market is poised for substantial growth in the coming decade, with a projected valuation of USD 2.18 billion by 2034. According to the latest analysis from Market Research Future, the market was valued at USD 1.29 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2025 to 2034. This robust growth trajectory is largely fueled by increasing…
More Releases for Steel
Steel Beams Market is Booming Worldwide with Steel Dynamics, JSW Steel, JFE Stee …
HTF MI just released the Global Steel Beams Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach.
Major Giants in Steel Beams Market are:
ArcelorMittal (Luxembourg), Nippon Steel (Japan),…
Special Ball Bearing Steel Market : Eminent Players - Nippon Steel, Suzhou Steel …
Market Description -
Los Angeles, (United States) - The information made available in the Special Ball Bearing Steel report will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. This will at last increase the return rate and drive the competitive edge within. Being a custom market report, it provides services tailored to the exact challenge. Whether it is survey work,…
Miscellaneous Steel Detailing | Steel Detailer | Steel Detailing Services
We provide the highest quality of finished projects in the industry. Boasting unmatched turnaround times, and superb accuracy. WorldSteel Detailings has onboard team of experienced steel detailers and engineers with a wide range of experience from industrial and commercial projects to high rise buildings. By using innovative technologies and latest softwares, our structural steel detailing team provides accurate services as per your requirements based on country standards.Our steel detailing professionals…
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in…
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in…
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in…
