Steel Industry

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Industry Overview:

The Global steel market size reached to $ 942.3 billion in 2023 and the market is anticipated to grow at a CAGR of 3.05% from 2024 to 2032, when it reaches $ 1,234.8 billion

Industry Overview

The slump in residential building caused by exorbitant loan rates and building expenses has reduced demand for steel in the majority of the major steel-consuming regions

Due to the delayed effects of monetary tightening, housing activity in the US, China, Japan, and the EU is predicted to decline in 2023 and to remain poor in most key countries well into 2024

In 2023, the world's steel demand was further hindered by sluggish global demand, high costs and uncertainties associated with manufacturing, and restrictive financing circumstances

Global steel demand in 2023 has been supported by robust investment activity in manufacturing facilities and public projects; investment in manufacturing is done to develop strategic sectors

Sustainability Trends
Steel Using Sector Trends
Transition to Green Technologies

These technologies cover a wide spectrum of cutting-edge strategies meant to lessen the industry's need on conventional, carbon-intensive production techniques & adoption of hydrogen based reduction

Circular Economy Integration

Integration of the circular economy represents a break from the "take-make-dispose" linear paradigm in order to reduce waste and maximize resource efficiency, the industry is implementing a closed-loop

Industry Business Models
Industry Business Models
Infrastructure Development:

Steel producers benefit from the current infrastructure development initiatives being carried out by governments and non-governmental bodies; investments in energy, transportation & modern infrastructure, provides a consistent demand

E-mobility and Renewable energy:

The demand for specialty steels used in battery production, wind turbines, and solar panels is driven by the trend towards EVs and renewable energy sources and steel makers can get benefit by creating lightweight, high-performance steel alloys


The global steel industry has been experiencing persistent overcapacity, especially in places like China, which has resulted in price instability and heightened competition which reduces profitability and financial strain for steel producers

Trade Disputes

The global steel market is disrupted by the imposition of tariffs and trade obstacles by different governments; international trade flows are hampered, uncertainty is raised, and pricing dynamics are distorted by these protectionist policies.

Factors affecting steel prices

The unpredictability of world politics & central banks‘ policy of raising key rates

China's construction industry is just slowly recovering; the March–April peak season was originally anticipated; the PRC, lowering demand for steel goods and making the iron ore market outlook less positive

Following Russia's invasion of Ukraine, raw material costs have increased significantly for Indian steel industries

Imports become more costly and exports less expensive when the currency is weaker. On the other hand, a stronger currency may increase the cost of steel exported by nations, which could have an impact on global demand and pricing.

Steel consumption by India’s infrastructure segment is expected to increase to 11% by Fy2026

Regional Insights:
Regional Insights

1. Industry Overview

  • 1.1. World Crude Steel Production
  • 1.2. Apparent Steel Use(Finished steel products by region)
  • 1.3. Market Highlights
  • 1.4. Major Steel Producing Countries,2022

2. Industry Market Size

  • 2.1. Demand for finished steel products worldwide by region
  • 2.2. Global Production of hot rolled steel coils, sheets & strips
  • 2.3. Key Findings

3. Market Insights

  • 3.1. Crude Steel Production, Jan-Dec, 2023
  • 3.2. Steel Demand by end user industry, 2023
  • 3.3. Top Steel Producing Companies

4. Industry Trends

  • 4.1. Impact of top 10 steel industry trends
  • 4.2. Scrap Consumption in Leading markets(in million metric tons) , 2022
  • 4.3. Steel Using Sector Trends
  • 4.4. Sustainability Trends

5. Industry Business Models

6. Pricing Insights

  • 6.1. Aggregate Flat and long steel price averages
  • 6.2. Base Metal Index and Iron Ore prices
  • 6.3. Factors affecting steel prices
  • 6.4. Pricing strategies in the industry

7. Business Models

8. Opportunities and Challenges

  • 8.1. Opportunities
  • 8.2. Challenges
  • 8.3. Construction Industry Outlook (%)
  • 8.4. World Steel Exports by product

9. Recent Updates

  • 9.1. Recent News
  • 9.2. Major Exporters of steel(million tons), 2022
  • 9.3. Major Importers of steel(million tons), 2022

10. Competitive Benchmarking

11. Company Analysis(1/4)

  • 11.1. Steel Production
  • 11.2. Steel Capacity
  • 11.3. Key Elements of Growth Strategy
  • 11.4. Nucor’s family of brands

12. Company Analysis(2/4)

  • 12.1. Revenue from Operations
  • 12.2. Pillars of Value Creation
  • 12.3. Strategy Roadmap, 2030
  • 12.4. Production mix 2023

13. Company Analysis(3/4)

  • 13.1. Production volume
  • 13.2. Group Sales by market,2023
  • 13.3. Key strategic enablers
  • 13.4. Key Metrics

14. Regional Insights- India

  • 14.1. Total Crude steel Production
  • 14.2. Import destinations of finished steel
  • 14.3. Finished steel export source countries
  • 14.4. Key Highlights
  • 14.5. Trends in the Indian Steel Industry

15. Regional Insights- USA

  • 15.1. Steel Production
  • 15.2. Imports of steel mill products
  • 15.3. Exports of finished products
  • 15.4. Steel Production
  • 15.5. Trends in the industry

16. Regional Insights- USA

  • 16.1. Crude steel production
  • 16.2. Steel product consumption by sectors
  • 16.3. Exports markets
  • 16.4. Key Highlights
  • 16.5. Low carbon technologies in steel industry

17. Porter Five Forces Analysis

18. SWOT Analysis

19. Company Segmentation

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