28 August 2018
A new report by Visiongain predicts that the world market for steel will reach $991 billion, while the production levels will record 1,714.3 million tonnes and global consumption 1,592.5 million tonnes in 2018. This forecast and others appear in Steel Market Report 2018-2028: Volume and Value Forecasts by Process (Hot Rolled, Cold Rolled, Direct Rolled, Tubes, Others), by Steel Type (Carbon Steel, Alloy Steel, Stainless Steel, Others), by End-User Industry (Automotive, Mechanical Engineering, Electronic Engineering, Oil & Gas, Construction, Others) Plus Financial Analysis of Leading Companies and Leading National Market and Volume (Consumption and Production) Analysis published by Visiongain, a leading business intelligence provider based in London, UK.
The steel market has been declining over the past few years as a result of the large oversupply of steel that pressured prices downwards. The global recession that hit the commodities sector hard also contributed to the shrinking growth. Visiongain predicts that an oversupply will remain over the next decade and a decline in market value, even as consumption increases over the forecast period.
The steel market has been dominated by China, accounting for half of the global market. It is the largest and fastest growing producer and consumer of steel and it will retain its leading position throughout the forecast period. India, Taiwan, Iran, Japan, Mexico and South Korea are other countries exhibiting strong growth in terms of steel production and consumption. Global steel demand over the next decade will mainly depend on the emerging economies. However, economic conditions for the global steel industry remain uncertain and challenging.
The main factors that led to a previously significant increase in demand for steel are new infrastructure developments and the growing needs of the increasing middle class in the developing countries. The construction, automobile, and white goods industries will attract a high demand for steel over the next decade. The construction sector will be the key consumer of steel over the forecast period (2018-2028) as we predict growth above the global trend.
This 287-page report contains 333 tables, charts and graphs that add visual analysis in order to explain developing trends within the Steel market. Visiongain provides forecasts for the period 2018 to 2028 in terms of value (US$) and in terms of volume (Million Tonnes) for the steel market. In addition, 24 national steel markets plus the rest of the world, 6 submarkets by end-use sector, 5 submarkets by process, 4 submarkets by application and 4 submarkets by steel types are forecasted and analysed by Visiongain over the period 2018 to 2028. The report also provides profiles and revenue forecasts for 10 leading companies operating within the market such as ArcelorMittal, Nippon Steel & Iron Sumitomo Metal, China Baowu Group, HBIS Group, Tata Steel and etc.
Steel Market Report 2018-2028 report will be of value to current and future potential investors in the steel sector, as well as companies and research centres who wish to broaden their knowledge of the steel market.
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