Press release
Iron And Steel Mills And Ferroalloy Market Trend And Future Demand Report 2020-30: Covid 19 Impact And Recovery
The global iron and steel mills and ferroalloy market is expected to decline from $874.7 billion in 2019 to $770.8 billion in 2020 at a compound annual growth rate (CAGR) of -11.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 10% from 2021 and reach $992.3 billion in 2023.
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The iron and steel mills and ferroalloy market consists of sales of iron and steel mills and ferroalloys by entities (organizations, sole traders and partnerships) carrying out activities such as reducing iron ore, transforming pig iron into steel, and producing molten or solid pig iron, steel, steel and forming pipe and tube, electrometallurgical ferroalloys, and steel and manufacturing shapes such as bar, plate, rod, sheet, strip, and wire.
Global steelmakers are gradually shifting from blast furnace to EAF to manufacture steel. EAF requires much lower investment and offers higher efficiency compared to a blast furnace. The use of EAF enables steelmakers to produce steel from 100% scrap metal feedstock, reducing the overall energy consumed to produce steel as compared to steel made from ores. To capitalize on this, steel manufacturers are replacing blast furnaces with EAFs in their steel plants.
Iron And Steel Mills And Ferroalloy Market Segmentation: -
By Type
1. Ferroalloys
2. Pig Iron
3. Crude Steel
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Iron And Steel Mills And Ferroalloy Market Characteristics
4. Iron And Steel Mills And Ferroalloy Market Product Analysis
5. Iron And Steel Mills And Ferroalloy Market Supply Chain
……………
20. Iron And Steel Mills And Ferroalloy Market Competitive Landscape
21. Key Mergers And Acquisitions In The Iron And Steel Mills And Ferroalloy Market
22. Market Background: Metal Market
23. Recommendations
24. Appendix
The report covers the trends and market dynamics of the iron and steel mills and ferroalloy market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the iron and steel mills and ferroalloy market are Arcelor Mittal SA, POSCO, China BaoWu Steel Group Corporation Limited, Nippon Steel & Sumitomo Metal Corp, JFE Engineering Corporation
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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