Steel Products Market Overview: Market Size, Major Drivers And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
- Market Growth Trajectory: A Strong Ascendancy
- Market size: $452.66 billion (2023) to $479.07 billion (2024) at a 5.8% CAGR.
- Historic growth drivers: Economic cycles, globalization, government policies, technological advancements.
- Forecasted growth: $582.53 billion (2028) at a 5.0% CAGR.
- Forecasted growth factors: Infrastructure development, automotive industry, raw material availability, sustainable practices, global economic trends.
- Emerging Trends: Shaping the Future of Steel
- In the Forecast Period:
- Electrification and lightweighting.
- Advanced materials.
- Additive manufacturing.
- Digitalization and connectivity.
- Collaboration and partnerships.
- Urbanization Sparks Demand Surge
- Urbanization impact on steel demand: Growing urban populations drive the need for housing and infrastructure.
- Infrastructure demand surge: Especially prominent in Asian countries like China, India, Vietnam, and the Philippines.
- Projections: UN estimates 68% of the world’s population will live in urban areas by 2050.
- Key Players Shaping the Industry
- Industry leaders: Angang Steel, Steel Authority of India, SSAB, Nucor Corp, and more.
- Global market presence: Reflects the industry’s competitive nature and evolving dynamics.
Read The Full Steel Products Market Report Here:
https://www.thebusinessresearchcompany.com/report/steel-products-global-market-report
- Innovation Driving Revenue Growth
- Example: Nucor Corporation’s Elcyon:
- Launched in January 2023.
- Heavy gauge steel plate for offshore wind energy infrastructure.
- Utilizes clean, modern steel manufacturing method in an electric arc furnace.
- Key features: Larger plate dimensions, better weldability, excellent fracture toughness.
- Market Segmentation: Understanding the Dynamics
- By Type:
- Rolled and Drawn Steel.
- Iron and Steel Pipe and Tube.
- By Product Type:
- Flat Steel.
- Long Steel.
- Tubular Steel.
- Steel Pipes.
- Steel Tubes.
- By Application:
- Construction.
- Automotive.
- Energy.
- Packaging.
- Other Applications.
- Regional Dominance: Asia-Pacific Takes the Lead
- Asia-Pacific: Largest region in the steel products market in 2023.
- Reflects the region’s economic activity and growth potential.
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The Steel Products Global Market Report 2024 provides an overview of the steel products market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The steel products market forecast analyzes steel products market size, steel products market share, leading competitor and their market positions.
The Table Of Content For The Steel Products Market Include:
1. Steel Products Market Executive Summary
2. Steel Products Market Segments
3. Steel Products Market Size And Steel Products Market Growth Rate
4. Key Steel Products Market Trends
5. Major Steel Products Market Drivers
……
25. Key Mergers And Acquisitions In The Steel Products Market
26. Top Steel Products Companies
27. Steel Products Market Opportunities And Strategies
28. Steel Products Market, Conclusions And Recommendations
29. Appendix
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