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US Steel Market Top Key Players - Nucor (NUE), Steel (X), Steel Dynamics (STLD), Commercial Metals Company’s (CMC), AK Steel (AKS)

08-25-2021 02:42 PM CET | Industry, Real Estate & Construction

Press release from: Mobility Foresights

US Steel Market Top Key Players - Nucor (NUE), Steel (X), Steel

The US steel Market is very important to the economic competitiveness of the United States. The US steel market is expected to grow during the forecast period 2021-2027. Steel functions as the center of automobiles, bridges, buildings, railroads and machinery and is an important component of the defense industry.

The US Steel is the third largest steel producer in the world, accounting for almost 5.4% of the world's crude steel production and one of the major steel consumers. The industry has benefited from the surge in steel demand in the automotive, construction and oil and gas sectors. In addition, cost-effective and efficient steelmaking technology acted as a catalyst to increase US steel demand in the market.

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POST PANDEMIC US STEEL MARKET VALUE

According to data from the Iron and Steel Institute of the World (WSA), shipments of US steelworks in January 2021 were 7,428,816 tons, an increase of 5.3% from the previous month of December 2020 (7,049,785 tons), year-on-year. It decreased by 13.1%. It is 8,535,755 tons of Sunton shipped in January 2020. US Steel production in September 2020 was 6.1 million tonnes, an increase of 9.9% from August. Production in September 2020 was 12.3% of the September 2019 production level.

US STEEL MARKET SEGMENTATION

Based On Type
• Crude Steel
• Finished Steel (Flat, Long Speciality Products)
• Scraped Steel

Based On Material
• Steel alloy
• Carbon Steel
• Stainless Steel

Based On Process
• Cold Rolled / Hot Rolled
• Direct Rolled
• Tubes

Based On End User Industry
• Automotive Industry
• Infrastructure and Construction Industry
• Mining and Earth moving Equipment
• Aviation & Marine Industry
• Electronic Industry
• Oil & Gas Industry

US STEEL MARKET DYNAMICS

• The increase in global automobile production is a major factor driving the growth of the global high-strength steel market. High-tensile steel is used in the manufacture of car body panels to reduce weight by 60% and improve fuel economy. This is contributing to the increasing demand for high-strength steel in the automotive industry. Growing demand for electric and hybrid vehicles worldwide is also expected to contribute to the growth of the high-tensile steel market during the forecast period.

• The global construction industry is also witnessing growth in the commercial and residential sectors. Factors such as improved employment opportunities, increased per capita national income, and the adoption of a luxurious lifestyle for the middle-class population are expected to drive the growth of the global construction industry. This leads to an increase in demand for high-strength steel in the construction industry as high-strength steel reduces product thickness, improves product toughness at low temperatures and ensures high yield strength. In addition, these rivers also have excellent weldability.

COMPETITIVE LANDSCAPE

The US steel Market has developed a forecast of $91 billion in 2020. This is a decrease of 12% from over 100 billion in production in 2019, with around 51 companies doing business in the domestic steel production market. One of the largest US steel producers is North Carolina-based Nucor Corporation.

MAJOR COMPANIES
• Nucor (NUE)
• Steel (X)
• Steel Dynamics (STLD)
• Commercial Metals Company’s (CMC)
• AK Steel (AKS)

Read More Information: https://mobilityforesights.com/product/us-steel-market/

Contact:
Company Name: Mobility Foresights
Contact Person: Kunal Roy
Email: Send Email
Phone: +1-315-675-4056
Address: P3&P4, HAL 3rd Stage
City: Bangalore
State: Karnataka

About Us:
We are among the very few market research firms globally, specialized in mobility domain(s). Our zone of research entails automotive, aerospace, marine, locomotive, logistics and construction & agricultural equipment. We deal in syndicated research, custom research and consumer research for all the above domains mentioned.
We envision the future of mobility every single day, following mobility domains is not just our profession rather it’s our passion. We are here, just to serve you in the most ideal way and your fulfillment is above everything else.

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