Steel Industry Data Book Covers Stainless Steel, Carbon Steel, Electrical Steel, Weathering Steel, Sintered Steel Markets.
Steel is a vital industry for global economic growth. It is one of the key raw materials for building construction and various manufacturing activities. As per the World Steel Association, the total value contribution by the steel industry is USD 2.9 trillion, which is equivalent to 3.8% of global GDP.
Grand View Research’s steel industry data book is a collection of market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.
Carbon Steel Market Insights
The global carbon steel market size was valued at USD 947.60 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2023 to 2030.
In terms of volume, the low carbon steel accounted for a market share of 90.8% in 2022. Based on type, the market has been categorized into low, medium, and high carbon steel. Low carbon steel is by far the largest segment and has observed the highest penetration in various end-use industries. Low carbon steel contains carbon content below 0.25 percent by weight.
The construction industry held the largest volume share of nearly 42.0% in 2022 and this trend is anticipated to continue over the forecast period. Low carbon steel offers excellent forming and welding capabilities along with advantages such as no cracks on bending, flexibility, ductility, plasticity, and endurance in case of calamities like earthquakes, which make it a preferable choice in the construction industry.
Stainless Steel Market Insights
The global stainless steel market size was valued at USD 111.44 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.
300 series was the largest segment in 2022 with a volume share of over 54.0% in 2022. Grade 303 in the series is used almost entirely for every part requiring polishing, grinding, and machining where good corrosion resistance is also compulsory. Its non-galling and non-seizing properties make it ideal for moving parts. Being an austenitic steel, it is very useful where low magnetic permeability is preferred.
Flat products accounted for a revenue share of over 73.0% in 2022 and is likely to dominate the market over the forecast period. Flat products mainly include sheets/coil and plates. SS flat products are widely used in mechanical parts and industrial tools along with construction and structural applications. These products are hot rolled and cold rolled and have properties such as corrosion resistance, high strength, and great thickness.
The consumer goods segment dominated the market and accounted for the largest revenue share of over 37.0% in 2022. The segment is projected to grow owing to increasing demand for washing machine fridge parts, sinks, utensils, and many more. Characteristics such as easy fabrication, corrosion resistance, and aesthetic appeal are likely to contribute to the demand for consumer goods; thus, positively influencing the market growth.
Structural Steel Market Insights
The global structural steel market size was valued at USD 105.57 billion in 2022 and likely to register a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030.
Based on application, the non-residential held the largest revenue over 54.0% in 2022, of the global market. It is estimated to expand further at the fastest CAGR over the forecast period owing to the increasing spending on healthcare facilities, data centers, big-box retail stores, stadiums, airports, and manufacturing facilities. The segment is further divided into industrial, commercial, offices, and institutional.
The industrial sub-segment accounts for the maximum share in the non-residential segment. Structural steel is majorly used in industrial buildings due to its extreme strength, which is beneficial not only for structural integrity but also for subsiding the potential impact of repairs. It is also ideal for building large bridges owing to its high durability and excellent strength-to-weight ratio, which ensures withstanding the weight of cars and pedestrians.
Access the Global Steel Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies
Electrical Steel Market Insights
The global electrical steel market size was evaluated at USD 23.4 billion in 2020 and is expected to expand at a compounded annual growth rate (CAGR) of 4.9% from 2021 to 2028.
In terms of revenue, the Non-grain Oriented Electrical Steel (NGOES) dominated the market for electrical steel and accounted for the largest revenue share of more than 70.0% in 2020. NGOES finds application in the entire energy value chain from generators to electric motors and appliances. It is available in numerous grades depending upon properties, composition, and applications.
In 2020, the transformer segment held the largest revenue share of more than 52.0% of the overall market. Increasing complexity in electrical grids, penetration of EVs, rise in digital loads, and growth in decentralized generation have augmented the need for transformers.
Weathering Steel Market Insights
The global weathering steel market size was USD 987.2 million in 2018 and is anticipated to expand at a CAGR of 5.6% from 2019 to 2025.
Building and construction was the largest segment accounted for a volume share of 47.4% in 2018 owing to the rising need for replacing old bridges and roads and to increase the road connectivity to withstand the load of increased on road vehicles is likely to augment the weathering steel over the forecast period.
Art and architecture is one of the fast growing segments in the market owing to the rising demand for sculptures. Weathering steel is used in sculptures to gain the environmental advantage and to give an aesthetic finishing. Increasing awareness about art as an investment and not just a decorative piece is likely to create demand for sculptures.
Sintered Steel Market Insights
The global sintered steel market size to be valued at USD 177.9 million by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% during the forecast period.
The material utilization in sintering process is around 95% when compared to wrought process, which is around 55%. This characteristic increases the demand for sintered parts in capital goods industry, making automotive the key end-use segment, followed by electrical appliances and tools manufacturing.
Machinery and tools are expected to be the fastest-growing segment with a CAGR of 5.2%, in terms of revenue, during the forecast period. The growth is attributed to the increasing production of electrical appliances, machinery equipment, and tools across the globe on account of the growth in the manufacturing sector.
Steel Market – Global Industry Segmentation
Carbon Steel Market Size Forecasts, by Product, 2017 - 2030
- Low Carbon
- Medium Carbon
- High Carbon
Carbon Steel Market Size Forecasts, by Application, 2017 - 2030
- Shipbuilding
- Construction
- Automotive
- Others
Stainless Steel Market Size Forecasts, by Grade, 2017 - 2030
- 200 Series
- 300 Series
- 400 Series
- Duplex
- Others
Stainless Steel Market Size Forecasts, by Product, 2017 - 2030
- Flat
- Long
- Others
Stainless Steel Market Size Forecasts, by Application, 2017 - 2030
- Building Construction
- Automotive Transportation
- Consumer Goods
- Mechanical Engineering Heavy Industries
- Others
Structural Steel Market Size Forecasts, by Application, 2017 - 2030
- Residential
- Non-residential
- Industrial
- Commercial
- Offices
- Institutional
Electrical Steel Market Size Forecasts, by Product, 2017 - 2030
- GOES
- NGOES
Electrical Steel Market Size Forecasts, by Application, 2017 - 2030
- Transformer
- Motor
- Inductor
- Others
Weathering Steel Market Size Forecasts, by Application, 2017 - 2030
- Building construction
- Transportation
- Art architecture
- Other applications
Sintered Steel Market Size Forecasts, by Application, 2017 - 2030
- Automotive
- Machinery Tools
- Others
Order your copy of the Free Sample of “Steel Industry Data Book - Stainless Steel, Carbon Steel, Electrical Steel, Weathering Steel, Sintered Steel Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Steel Industry Data Book Regional Outlook
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Ukraine
- Russia
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Malaysia
- Indonesia
- Vietnam
- Oceania
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Peru
- Chile
- Middle East Africa (MEA)
- Middle East
- South Africa
- Bahrain
- Egypt
- Saudi Arabia
- Southern Africa
- Saudi Arabia
Steel Industry Data Book Competitive Landscape
The destruction of steel production facilities in Ukraine has led to collapsed in steel production along with rising energy prices and idling capacities and production stoppages, especially in Europe.
Key players operating in the steel industry are –
- Ansteel Group
- ArcelorMittal
- Baotou Steel
- China Baowu Group
- China Steel Corporation
- Cleveland-Cliffs
- Delong Steel Group
- Fangda Steel
- Gerdau S.A.
- HBIS Group
- Hyunda Liuzhou Steeli Steel
- IMIDRO
- JFE Steel Corporation
- Jianlong Group
- Jingye Group
- JSW Steel Limited
- Liuzhou Steel
- Nippon Steel Corporation
- NLMK
- Nucor Corporation
- POSCO
Go through the table of content of Steel Industry Data Book to get a better understanding of the Coverage Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
