How Global Steel Products Market Players Should Strategize For 2022-2031

The global steel products market is expected to grow from $401.40 billion in 2021 to $434.27 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The steel product market is expected to grow to $580.08 billion in 2026 at a CAGR of 7.5%.

What is the Global Steel Products Market?

The steel products market consists of sales of steel products by entities (organizations, sole traders and partnerships) that produce steel products iron and steel, shapes are drawn through rolling or drawing of purchased iron or steel and draw steel wire.

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What drives the Global Steel Products Market?

Rapidly growing urban populations are expected to drive the demand for steel products in the forecast period. A large number of people living in rural areas are migrating to urban areas in search of a better life. This is expected to increase the need for housing and infrastructure. Infrastructure demand is expected to increase significantly in Asian countries such as China, India, Vietnam and the Philippines. According to the World Urbanization Prospects Report by the United Nations, 55% of the world’s population lived in urban areas and the rate is expected to rise to 68% by 2050. According to the World Bank, the urban population in South Asia grew by 130 million and is expected to grow to 250 million by 2030.

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Global Steel Products Market Segments
The global steel products market is segmented:
By Type: Rolled and Drawn Steel, Iron and Steel Pipe and Tube
By Product Type: Flat Steel, Long Steel, Tubular Steel, Steel Pipes, Steel Tubes
By Application: Construction, Automotive, Energy, Packaging, Others
By Geography: The regions covered in the steel products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Steel Products Global Market Report 2022provides market size and growth forecasts for the global steel products market, global steel products market share, steel products market segments and geographies, steel products market competitive landscape including leading competitors’ revenues, profiles and market shares. The steel products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Steel Products Industry Playersinclude Angang Steel Company Limited, Steel Authority of India Limited, SSAB AB, Nucor Corp, Compagnie de Saint-Gobain S.A, Nippon Steel & Sumitomo Metal Corporation, Kobe Steel Ltd, Vallourec SA, Voestalpine AG, and Mechel PAO. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.