Market Scenario:
Global steel processing is generally classified into two types that is primary and secondary steel making. Primary steel processing converts liquid iron from a blast furnace or steel scrap into steel. This can be done using melting the scrap steel in electric arc furnace. Secondary steel processing includes the refining of crude steel and different operation. Steel can be processed using the combination of iron, alloy and carbon melting together in proportionate basis. Steel can also be processed through hot rolled and cold rolled method. The steel processing market is expected to reach USD 600 Billion by 2022 at a CAGR of approximately 2%.
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On the basis of steel type, carbon steel is expected to grow during the forecast period because it is harder than alloy steel and is widely used in construction industries. Based on the application, construction segment is expected to dominate the global steel processing market during the forecast period. Asia-Pacific is expected to have largest market share in the forecast period.
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ü Steel Authority of India Limited
ü ThyssenKrupp AG
ü Jiangsu Shagang Group Company Limited
ü Severstal PAO
ü Hebei Iron & Steel Co Ltd
ü Hyundai Steel Co.
ü Bridon International Ltd
ü Kobe Steel, Ltd.
ü Maanshan Iron & Steel Company Limited
ü Tata Steel Ltd.
Intended Audience:
- Coating equipment manufacturers
- Distributer & Supplier companies
- End Users
- consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
Asia-Pacific accounts for the highest market share
Asia-Pacific is expected to witness growth in the forecast period because most of the leading processing providers are mainly focusing on the emerging nations like Asia-Pacific. Also rapid industrial development in this region augments the market growth. North America is expected to grow at a steady rate in the forecast period. European nations have set up their plants in Asia-Pacific region due to low production cost and cheap labor.
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