Precision Business Insights has published a report on the global steel market, estimating its value at USD 903.7 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 2.9% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/steel-market

Market Definition:

Steel is one of the most essential and versatile materials in modern industry. It's an alloy of iron and carbon, often with other elements like manganese, chromium, or nickel added to enhance specific properties

Drivers:

1)      Demand for high-strength lightweight steels.

2)      Increasing demand for speciality and corrosion-based steels.

The global steel market segmentation:

1) By Product: Steel Sheets, Steel Beams, Steel Bars, Others.
2) By Application: Building & Infrastructure, Mechanical & Electrical Equipment, Automotive, Metal and Domestic Products, Others.
3) By Type: Carbon Steel, High Carbon Steel, Medium Carbon Steel, Low Carbon Steel , Alloy Steel, Stainless Steel, Tungsten Steel, Nickel Steel, Manganese Steel, Vanadium Steel, Chromium Steel, Silicon Steel, Molybdenum Steel, Cobalt Steel, Aluminum Steel, Shock Resistant Tool Steel, Hot-Work Tool Steel, Special-Purpose Tool Steel, Other.

Regional Overview:
The report also examines the current concerns and their Future Effects on the steel market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the steel market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

·         North America (U.S., Canada)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

·         Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)

·         Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The competitive landscape is dominated by major players like ArcelorMittal, EVRAZ plc, Gerdau, HBIS Group, Hyundai Steel, JSW Steel, Nanjing Steel, Nippon Steel Corporation, Novolipetsk Steel, Nucor Corporation, POSCO, SAIL, Severstal, Shandong Steel Group, Shougang Group, Steel Dynamics, Inc., Tata Steel Group, Thyssenkrupp, United States Steel Corporation, Zenith Steel Pipes & Industries Ltd.

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