May 8, 2020   SOURCE: BusinessWire

Crude Steel Market: Growth, Trends and Forecasts (2020-2025) - ResearchAndMarkets.com

The "Crude Steel Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

The global market for Crude Steel is expected to grow at a CAGR of over 2% during the forecast period.

Major factors driving the market studied are increasing demand from construction and aerospace applications owing to its durability and strength. On the flipside, declining automobile production is expected to hinder the growth of market.

The crude steel market is highly fragmented with top 5 players accounting for a major share of the market. Major companies in the market include ArcelorMittal S.A., China Baowu Steel Group Corp., HBIS Group, POSCO, Shagang Group Inc., JFE Steel Corporation and Tata Steel.

Key Highlights

  • Construction and automotive sector are expected to be the dominant segments, in terms of demand, over the forecast period. Increasing usage of steel sheets in automotive applications and extensive usage of steel beams and pillars in construction sector have stimulated the demand for crude steel market.
  • Crude Steel is used in the manufacturing of pipes and tubes in raw form, whereas nuclear infrastructure is made from alloy steel, and household appliances are made from stainless steel, which are derived from crude steel.
  • Usage of electric arc furnace (EAF) in comparison with blast furnace in production of crude steel has grown over the years as the process is less-costly and enabling the steel manufacturers to produce steel from 100% scrap material, which in turn reduces the overall energy usage.
  • The top steel producing countries are China, Japan, India and United States with China holding the largest share for crude steel production in the global market.
  • Asia-Pacific region is expected to dominate the market with largest consumption from China and India.

Major Market Trends

Increasing Demand from Construction Industry

  • Steel along with its alloys is one of the most common metal used across the globe in the construction sector, accounting for more than 40% of world steel demand.
  • Steel is used in buildings & construction owing to it superior properties such as durability and ductility, thus making the buildings earthquake-resistant.
  • Increasing rate of high-speed trains in countries like China, Japan and India have led to the construction of special rail roads, which has led to increasing consumption of carbon steel, thus enhancing the crude steel demand over the forecast period.
  • The global spending on construction sector is expected to reach USD 14 trillion by 2025, which is further going to enhance the demand of crude steel. Asia-Pacific region is expected to dominate the construction market with a CAGR of over 8% by 2023, thereby stimulating the demand for crude steel in the region.
  • Owing to the aforementioned factors, the crude steel market is projected to grow at a moderate rate during the forecast period.

Asia-Pacific Region to Dominate the Global Market

  • Asia-Pacific region has experienced favorable growth in crude steel industry in countries like India, China and South Korea, and China holding almost half of the consumption share. Japan crude steel market growth is driven by civil engineering activities such as building of schools, residential and commercial constructions, rail roads etc.
  • The demand for steel in countries like India and China is around 50% more than the countries like Germany and United Kingdom. The construction sector in India is expected to grow at a strong CAGR of over 5% due to FDI (Foreign Directed Investment). It is projected that by 2021, India and China will contribute around 40% of the global construction industry.
  • The automotive industry is growing in ASEAN countries like Malaysia, Thailand, Indonesia and Vietnam which have propelled the demand of crude steel. Advanced High Strength Steel (AHSS) is now being used in nearly every new vehicle as it enables flexible and creative designs with properties such as ultra-high strength and better bending capacity. AHSS make up around 60% of the new vehicle body structures.
  • The aerospace materials market has diversified which has increased the demand for steel alloys in the manufacturing of aircrafts both for commercial use and for defense as military aircrafts. Governments of India and China have emphasized on increasing the budget on defense of their countries, and thus have enhanced the usage of steel products which has fueled the demand for crude steel market.
  • Major companies in the Asia-Pacific region include ArcelorMittal S.A., China Baowu Steel Group Corp. and Tata Steel.
  • The aforementioned factors along with government support are contributing to the increasing demand of crude steel market.

Key Topics Covered

1 INTRODUCTION

1.1 Study Assumptions

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Increasing Demand from Construction Industry

4.1.2 Growing Demand from Aerospace Sector

4.2 Restraints

4.2.1 Slowdown in Global Automotive Production

4.2.2 Other Restraints

4.3 Industry Value Chain Analysis

4.4 Porter's Five Force Analysis

4.4.1 Bargaining Power of Suppliers

4.4.2 Bargaining Power of Consumers

4.4.3 Threat of New Entrants

4.4.4 Threat of Substitute Products and Services

4.4.5 Degree of Competition

5 MARKET SEGMENTATION

5.1 Composition

5.1.1 Killed Steel

5.1.2 Semi-killed Steel

5.1.3 Others

5.2 End-user Industry

5.2.1 Construction

5.2.2 Automotive

5.2.3 Electronics

5.2.4 Aerospace & Defense

5.2.5 Other End-user Industries

5.3 Geography

5.3.1 Asia-Pacific

5.3.2 North America

5.3.3 Europe

5.3.4 South America

5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 ArcelorMittal

6.4.2 China Ansteel Group Corporation Limited

6.4.3 China Bawou Steel Group Corp.

6.4.4 HYUNDAI STEEL

6.4.5 JFE Steel Corporation

6.4.6 Maanshan Iron & Steel Company Limited

6.4.7 Nippon Steel Corporation

6.4.8 NLMK (Novolipetsk Steel)

6.4.9 POSCO

6.4.10 SAIL (Steel Authority Of India)

6.4.11 Severstal

6.4.12 Shagang Group Inc.

6.4.13 HBIS Group

6.4.14 Tata Steel

6.4.15 United States Steel

6.4.16 SMS group GmbH

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Technological Advancements in Crude Steel Production

7.2 Other Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/iwxxjr