The iron and steel mills and ferroalloy manufacturing industry includes companies carrying out activities such as reduction of iron ore, transforming pig iron into steel, and producing molten or solid pig iron, steel, steel and forming pipe and tube, electrometallurgical ferroalloys, and steel and manufacturing shapes such as bar, plate, rod, sheet, strip, and wire.
The top five companies covered are ArcelorMittal S.A., POSCO, China BaoWu Steel Group Corporation Limited, Nippon Steel & Sumitomo Metal Corp and JFE Engineering Corporation. AcelorMittal was the largest company in the iron and steel mills and ferroalloy manufacturing market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global iron and steel mills and ferroalloy manufacturing market was valued at around $2266 billion in 2017. Asia Pacific was the largest region in the iron and steel mills and ferroalloy manufacturing market in 2017, accounting for above 67% market share. China was the largest country in the market in 2017, accounting for above 36% of the market.
Global steelmakers are gradually shifting from blast furnace to EAF to manufacture steel. EAF requires much lower investment and offers higher efficiency compared to a blast furnace. The use of EAF enables steelmakers to produce steel from 100% scrap metal feedstock, reducing the overall energy consumed to produce steel as compared to steel made from ores. To capitalize on this, steel manufacturers are replacing blast furnaces with EAFs in their steel plants.