IF STEEL MARKET 2020 : TOP COUNTRIES DATA, GLOBAL ANALYSIS, SIZE, GROWTH, DEFINATION, OPPORTUNITIES AND FORECAST TO 2026 | NIPPON STEEL & SUMITOMO METAL, POSCO, ARCELORMITTAL, BAOSTEEL GROUP

The iron and steel industry forms the fundamental part of a number of other industries that constitute global trade and economy. History has it that churns and disruptions in the global iron and steel market can have far-reaching impacts on several ancillary industries including but not limited to construction, automotive, chemicals, energy, and heavy engineering. The growth of these application areas, however, also bodes well for the growth of iron and steel consumption. Transparency Market Research finds that while the production of steel demonstrated a marginal decrease in early 2015, growth has got back on track since then.

China continues to lead the global iron and steel market in terms of production with over 50% of global volume, followed at a distant second by Japan. Countries such as India, the United, States, and Russia are the other key products of steel globally. The report states that these markets will also continue to help the global iron and steel market through the forecasting period.

MarketInsightsReports has recently published a research report titled, Global IF Steel Market. Primary and secondary research methodologies have been used to formulate this report. The analysis has been derived using historic and forecast. The report includes in-depth examination of geographical regions, revenue forecasts, segmentation, and market share.

The Global IF Steel market is expected to thrive in terms of volume and value during the forecast years. This report offers an understanding of various drivers, threats, opportunities, and restraints in the market. Analysts have used SWOT and Porter's five forces analysis to determine the effect these factors will have on the market growth during the forecast period.

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Top companies operating in the Global IF Steel market profiled in the report are: Nippon Steel & Sumitomo Metal, POSCO, ArcelorMittal, Baosteel Group, ThyssenKrupp, JFE, Nucor Corporation, United States Steel Corporation, Gerdau, Hyundai Steel, Novolipetsk Steel, Tata Steel, Evraz, Shougang, IMIDRO.

The global IF Steel market is valued at 48950 million US$ in 2020 is expected to reach 71510 million US$ by the end of 2026, growing at a CAGR of 5.5% during 2021-2026.

Global Industry News :

Nippon Steel to Halt 2 Blast Furnaces as Glut Spreads[Fri, 31 Jan 2020]:
Nikkei, citing sources close to the company, reported that Nippon Steel intends to freeze both blast furnaces at its plant in Kure in Hiroshima Prefecture in Japan, as part of a plan to reduce domestic production capacity by 10%. Sourecs said "With a global supply glut dragging on, Nippon Steel is also weighing the possibility of closing the plant altogether, including its steel plate production lines.'

Nippon Steel plans to officially announce the suspension plan as early as February 7 and implement it within the next few years. The company initially planned to halt just one of the two blast furnaces at Kure, but has opted to stop both.

The factory's crude steel output totaled 2.73 million tons for the year ended March 2019, with its capacity accounting for 7% of the group's total. In addition to the Kure suspension, Nippon Steel has a separate plan to halt another furnace at a plant in Kitakyushu at the end of March 2021. Together, the moves would reduce the group's current domestic production capacity of 54 million tons by around 10%.

Hyundai Steel launches earthquake-resistant steel brand[02 Nov 2017]: Yonhap reported that Hyundai Steel Co., South Korea's second-biggest steelmaker by sales, launched its brand of earthquake-resistant steel products as part of its effort to seek a new growth driver. The company has been investing in the development of earthquake-resistant products since 2005 by strengthening its lineup with specially made section steel, steel pipes, reinforced bars and thick steel plates.

Amid growing concerns about an earthquake in South Korea, the demand for earthquake-resistant steel is on the rise, Hyundai Steel said in a statement. Moreover, the government is moving to adopt stricter regulations on steel products in the construction sector to minimize the impact from a possible earthquake, it said.

Against this backdrop, the company has launched the "H((CORE" brand to pre-emptively respond to a growing demand for high-end steel products, it said.The sale of earthquake-resistant steel products reached 1 million tons in 2015, jumping from 400 tons in 2006. This year, the company expects to sell 1.1 million tons of quake-resistant steel.

Global IF Steel Market Split by Product Type and Applications:
Market Segment by Type, covers:
Soft Steel
High Strength Deep Drawing Steel

Market Segment by Applications, covers:
Automobile Manufacturer
Home Appliance Factory

Regional Analysis For IF Steel Market:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Influence of the IF Steel Market Report:
-Comprehensive assessment of all opportunities and risk in the IF Steel market.
-IF Steel market recent innovations and major events.
-Detailed study of business strategies for growth of the IF Steel market-leading players.
-Conclusive study about the growth plot of IF Steel market for forthcoming years.
-In-depth understanding of IF Steel market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the IF Steel market.

Furthermore, this study will help our clients solve the following issues:
o Cyclical dynamics-We foresee dynamics of industries by using core analytical and unconventional market research approaches. Our clients use insights provided by us to maneuver themselves through market uncertainties and disruptions.
o Identifying key cannibalizes- Strong substitute of a product or service is the most prominent threat. Our clients can identify key cannibalizes of a market, by procuring our research. This helps them in aligning their new product development/launch strategies in advance.
o Spotting emerging trends-Our Ecosystem offering helps client to spot upcoming hot market trends. We also track possible impact and disruptions which a market would witness by a particular emerging trend. Our proactive analysis help clients to have early mover advantage.
o Interrelated opportunities- This report will allow clients to make decisions based on data, thereby increasing the chances that the strategies will perform better if not best in real world.

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