The Iron And Steel Global Market Report 2023, provides comprehensive information on the iron and steel market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Iron And Steel Global Market Report 2023, the global iron and steel market size is expected to grow from $1,558.34 billion in 2022 to $1,654.16 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iron and steel market size is expected to reach $2,014.90 billion in 2027 at a CAGR of 5%.
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Technological advancement is a key trend gaining popularity in the iron and steel markets. Major companies operating in the iron and steel markets are focused on developing technologically advanced solutions to strengthen their position in the market. For instance, in October 2022, Metso Outotec, a Finland-based engineering services company, launched direct reduced iron (DRI) Smelting Furnace to support decarbonization of the iron and steel industry in order to achieve their CO2 emission reduction goals and prevent global warming and it will substitute blast furnaces in the production of hot metal. DRI Smelting Furnace technology offers distinctive benefits such flexibility for any DRI feed, high productivity with capacity above 1.2 million TPA, ability to handle enormous slag volumes, and continuous production of hot metal with high availability and long campaign life.
The iron and steel market is segmented:
1) By Type: Iron, Steel
2) By Production Technology: Basic Oxygen Furnace, Electric Arc Furnace, Open Hearth, Other Production Technologies
3) By End User: Building And Construction, Automotive And Transportation, Heavy Industry, Consumer Goods
Asia-Pacific was the largest region in the iron and steel market in 2022.
The table of contents in TBRC’s iron and steel market report includes:
1. Executive Summary
2. Iron And Steel Market Characteristics
3. Iron And Steel Market Trends And Strategies
4. Iron And Steel Market – Macro Economic Scenario
5. Iron And Steel Market Size And Growth
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26. Africa Iron And Steel Market
27. Iron And Steel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Iron And Steel Market
29. Iron And Steel Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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