Global SBQ (Special Bar Quality) Steel Market Research Report 2023

Steel market was valued at US$ 27110 million in 2022 and is anticipated to reach US$ 34180 million by 2029, witnessing a CAGR of 3.3% during the forecast period 2023-2029.

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Special bar quality (SBQ) steels can be defined as those, which are developed for challenging and high stress applications. Thus, these steels stand out different & tall among a diversity of grades that are in use in the enterprising processes. The SBQ steels have thus emerged as the mandatory requirements in various applications like those defined by high speed machining, high stress and high tensile strength among other finer attributes of engineering and metallurgy. The SBQ steels are today offered by manufacturers in the form of stainless steel bar, steel Hexagons, flats, tubes and other products of demand and relevance in manufacturing economy. These are mostly used in the development of bearings, high speed shafts, gears and other vital products that have to be resistant to the metal fatigue through prolonged and continuous use as moving parts in machineries/automobiles.

The global SBQ (Special Bar Quality) The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The key players of SBQ (special bar quality) Steel include CITIC, Nucor Corporation, ICH, etc. The top 2 players account for approximately 37% of the total market. Asia & Far East Asia is the largest market accounting for about 45%, followed by North America and Europe. In terms of type, rounds is the largest segment, with a share about 60%. And in terms of application, the largest application is automotive industry, followed by transportation industry.

Segment by Type
Rounds
Squares
Hexagons

Segment by Application
Automotive Industry
Energy Industry
Transportation Industry
Others

Production by Region
North America
Europe
China
Japan
India
South Korea
Latin America

Consumption by Region
North America (United States, Canada)
Europe (Germany, France, UK, Italy, Russia)
Asia-Pacific (China, Japan, South Korea, Taiwan)
Southeast Asia (India)
Latin America (Mexico, Brazil)

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This release was published on openPR.