Steel is the main
engineering material used in industries such as Construction, Automotive,
Transport, Power, Mechanical Machinery, Metal Goods, and Domestic Appliances.
It is also the main material utilized in delivering renewable energy such as
solar, tidal, and wind power. Steel is composed of iron, carbon, impurities,
and alloying elements, the combination of which determines the properties of
the steel. Based upon these properties, steel can be classified into various
types such as carbon steel, alloy steel, stainless steel, and tool steel. Steel
gives strength, durability, corrosion resistance, hardenability, formability,
weldability, and ductility to the products made by end-user industries.
Analysts forecast
the Global Steel
Manufacturing market will grow
at a CAGR of 3.41 percent over the period 2013-2018.
The Report
recognizes the following companies as the key players in the Global Steel
Manufacturing Market 2014-2018: ArcelorMittal SA, Baoshan Iron & Steel Co.
Ltd., Hebei Iron & Steel Group Co. Ltd. and Nippon Steel & Sumitomo
Metal Corp.
Other prominent
vendors in the market are: Anshan Iron and Steel Group Corp., EVRAZ plc, Gerdau
Corp., Hyundai Steel Co. Ltd., JFE Steel Corp., Maanshan Iron & Steel Co.
Ltd., Nucor Corp., POSCO, RIVA Group, Shagang Group Inc., Shandong Iron
and Steel Group Co. Ltd., Shougang Group Corp., Tata Steel Group, United States
Steel Corp., Wuhan Iron & Steel (Group) Corp.
One of the major
trends in this market is growth in the Renewable Energy industry, which will
require steel to develop infrastructure. This will strengthen the demand for
steel in the coming years. Steel will play a major role in developing
infrastructure for the generation of power from renewable energy sources such
as wind, solar, and tidal. The usage of steel will enable taller, stronger, and
lighter-weight towers for wind turbines, increasing their efficiency and
reducing carbon emissions associated with their construction.
Covered in this Report
The Global Steel
Manufacturing market can be divided on the basis of end-user into five main
segments: Infrastructure and Construction, Mechanical Machinery, Metal
Products, Automotive, and Others. The Others segment includes industries such
as Electrical Equipment, Other Transport, and Domestic Appliances. The above
end-user segments are the major consumers of steel and their performance has a
direct impact on the growth of the Global Steel Manufacturing market.
Global Steel
Manufacturing Market 2014-2018, has been prepared based on an in-depth market
analysis with inputs from industry experts. The report covers the Americas and
the EMEA and APAC regions; it also covers the Global Steel Manufacturing market
landscape and its growth prospects in the coming years. The report also
includes a discussion of the key vendors operating in this market.
According to the
report, one of the major drivers in this market is growth in emerging
economies. Over the last few years, growth of developed markets such as the US,
the EU, and Japan stagnated. This resulted in weak demand for steel products.
However, growth in emerging economies such as China, India, and Brazil has
countered this effect with their increased infrastructure and construction
investment.
Further, the report
states that one of the major challenges in the Global Steel Manufacturing
market is excessive production capacity for steel manufacturing. With steel
supply overtaking demand, the capacity utilization ratio was around 78 percent
in 2013. This resulted in reduced profit margins for steel manufacturers.
