Mild Steel Market Research Report Announced; Global Industry Analysis 2017 – 2027
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Since it is less expensive in comparison to other types of steels, mild steel is used aggressively for construction purposes such as in constructing bridges and buildings. It is mostly used for projects which require huge amounts of steel such as construction and heavy engineering projects. Other than this, it is also used to make parts of automobiles, refrigerators, steel flanges, machine tools, TMT bars, etc.
However, when it comes to corrosion resistance, mild steel is quite vulnerable and hence, coating is done to prevent corrosion.
Mild Steel Market:Market Dynamics
Growing urbanization and industrialization across the world is expected to drive the growth of the global mild steel market. Since mild steel is a key material used in the manufacturing of the components of automobiles, railways, home appliances etc., the demand for mild steel will continue to grow from these industries in near future.
However,volatility in the prices of raw materialsaffect the mild steel market. Also,some properties of mild steel such as low hardenability, low corrosion and oxidation resistance, loss of hardness on tempering and low strength at elevated temperatures as compared to other forms of steels as well as the presence of other alternatives such as Tungsten, Chromium, Nickel, Molybdenum, Manganese, Vanadium, etc. may restrain the growth of the global mild steel market.
Mild Steel Market:Market Segmentation
Mild steel market can be segmented into the below mentioned categories onthe basis of end-use industry
Home appliance industry
Housing & construction industry
Heavy Engineering Equipment and Machine Tools Industry
On the basis of application, the mild steel market can be segmented into
Mild Steel Market: Regional Outlook
Asia Pacific is a major manufacturer as well as consumer of mild steel. The many mild steel manufacturers and consumers present in India and China are expected to boost the global mild steel market during the forecast period. The demand for mild steel will stay strong in Asia Pacific due to increasing construction work and the growth of end user industries in India and China. Since Europe is home to many automobile manufacturers, Asia Pacific will be followed by Europe in terms of consumption of mild steel. Europe will be followed by North America and Latin America.
Mild Steel Market: Associated Players
Some of the major market participants identified across the value chain of the global Mild Steel market are
SHAGANG GROUP Inc
Curtis Steel Company Steel Company
The Ansteel Group Corporation
Nippon Steel & Sumitomo Metal Corporation
Hansteel Industries Co. Ltd
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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