Home / Metals / Steel Processing market worth $642.43 Billion by 2020
Stainless Steel Flanges

Steel Processing market worth $642.43 Billion by 2020

The Global Steel Processing Market is projected to be around $642.43 Billion by 2020 growing at a CAGR of 2.16% from 2015 to 2020.

The Steel Processing Market is projected to grow at a CAGR of 2.16% from 2015 to 2020. The huge demand for processed steel from emerging economies due to infrastructural development and increasing industrialization is expected to accelerate the growth of the Steel Processing Market. The major restraining factor for the Steel Processing Market is the market saturation in developed countries due to the cyclical nature of steel industry. The primary challenges faced by this market are environmental concerns and elimination of excess production.

Leading players in the industrial market include ArcelorMittal (Luxembourg), Baosteel Group Corporation (China), POSCO (South Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), and JFE Holdings, Inc. (Japan). The Steel Processing Market is a highly fragmented one owing to its application in almost all industrial verticals. Major companies rely on regional and local distributors to increase their share as well as geographical presence in the market. One of the major developments observed in the Steel Processing Market is mergers & acquisitions. The requirements of the end users for processed steel is continuously changing making it essential for the manufacturers to continually invest in R&D and come up with innovative solutions. Companies are adopting inorganic growth strategies such as acquisitions to cope with the increasing demand for finished steel in key emerging markets. These strategies have aided companies create a large customer and partner base in key markets.

The market report defines, segments, analyses, and forecasts the Steel Processing Market. It also identifies the driving and restraining factors for this market with the analysis of current and future trends and opportunities.

Source: MarketsandMarkets

Zhejiang Yaang Pipe Industry Co., Limited (www.yaang.com)

About www.nctv.net

www.yaang.com provide a wide range of steel products as Steel pipe, Steel pipes and seamless pipes, Alloy pipes, Pipe fittings, Composite steel pipe used in the industry, construction etc.

Leave a Reply

Your email address will not be published. Required fields are marked *


Scroll To Top