Iron And Steel Mills And Ferroalloy Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region |POSCO, ArcelorMittal S.A., Nippon Steel & Sumitomo Metal Corporation, TATA Steel Group, Nucor Corp

"The new report published by The Business Research Company, titled Iron And Steel Mills And Ferroalloy Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the iron and steel mills and ferroalloy market size has grown strongly in recent years. It will grow from $1072.87 billion in 2023 to $1141.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The iron and steel mills and ferroalloy market size is expected to see strong growth in the next few years. It will grow to $1395.34 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.

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Soaring Metal Demand Fuels The Growth Of Iron And Steel Mills And Ferroalloy Market
Metal consumption by the aerospace sector is expected to increase during the forecast period, thus driving the iron and steel mills and ferroalloy manufacturing market. This is mainly due to the rise in air travel is leading to increased demand for commercial airplanes. According to the International Air Transport Association (IATA), there were around 3.8 billion air travellers number is expected to rise to 7.2 billion by 2035. Similarly, according to Boeing, approximately 42,730 new jets, valued at $6.3 trillion, will be required over the next 20 years, to meet rising passenger traffic and upcoming airplane retirements. This will require significant metal consumption, especially aluminium, this will drive the iron and steel mills and ferroalloy manufacturing market in the forecast period.

Development Of Technologies To Drive The Revenues Of The Iron And Steel Mills And Ferroalloy Market
Major companies operating in the iron and steel mills and ferroalloy market are developing new technologies such as high-efficiency electric arc furnaces to meet larger customer bases, more sales, and increase revenue. A high-efficiency electric arc furnace (EAF) is a type of furnace that uses an electric arc to heat metals, which is more efficient than traditional blast furnaces. For instance, in April 2021, Steel Plantech, a Japan-based steel plant engineering manufacturer, launched ECOARC-FIT. This product's unique characteristic is that it has a horizontal preheater. The flexible and integrated thermal recovery system, or FIT, refers to a furnace that saves energy while being more adaptable to deal with different constraints. In comparison to typical electric furnaces with horizontal preheaters, ECOARC-FIT is anticipated to lower unit power consumption of 30 to 80 kWh per ton of steel output.

The iron and steel mills and ferroalloy market covered in this report is segmented -

1) By Type: Ferroalloys, Pig Iron, Crude Steel
2) By End-User Industry: Automotive, Machinery, Oil And Gas, Construction, Other End-Users

Sub segments: Ferromanganese, Ferrochrome, Ferrosilicon, Other Alloys, Non Alloy, Alloy

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Major companies operating in the iron and steel mills and ferroalloy market report are POSCO, ArcelorMittal S.A., Nippon Steel & Sumitomo Metal Corporation, TATA Steel Group, Nucor Corp, JFE Holdings, Inc., GERDAU S.A, Hyundai Steel Company, Maanshan Iron and Steel Company Limited, Thyssenkrupp AG, Baoshan Iron & Steel Co. Ltd, Kobe Steel Limited, Baowu steel, Ningbo BST Metal Products Co. Ltd., Nanjing Hengjie Industrial Co. Ltd., The Heico Companies, Bekaert SA, Suzuki Garphyttan Ab, Avocet Steel, SWR Group, Ormiston Wire, Novolipetsk Steel (NLMK), Evraz, Magnitogorsk Iron and Steel Works (MMK), Severstal, Metalloinvest, Mechel, TMK (Pipe Metallurgical Co. OJSC), Summit Utility Structures LLC, Sovereign Steel Manufacturing, AK Steel Holding, Algoma Steel Inc., Ternium S.A., United States Steel Corporation, Cleveland Cliffs, Aperam, Companhia Siderúrgica Nacional, Siderca, AL Khaleej Metal Coat LLC., AL Shafar Steel Engineering, Ajmal Steel Tubes & Pipes Industries LLC, Al Jarsh Metal Section Manufacturing, Alam Steel, Bosco Group of Companies, DBMSC Steel FZCO, Denholm YAM, Moolaan Iron & Steel, S A Iron & Steel Institute (SAISI), Pretoria Schmiede Cc, Metatrade Import and Export (Pty) Ltd, Cape Town Iron and Steel Works, JM Enterprises, Melcast Iron and Steel Foundry.

Contents of the report:
1. Executive Summary
2. Iron And Steel Mills And Ferroalloy Market Report Structure
3. Iron And Steel Mills And Ferroalloy Market Trends And Strategies
4. Iron And Steel Mills And Ferroalloy Market - Macro Economic Scenario
5. Iron And Steel Mills And Ferroalloy Market Size And Growth
…..
27. Iron And Steel Mills And Ferroalloy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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