The crude steel market includes establishments making steel, manufacturing shapes and forming pipe and tube. This is consumed highly in the manufacturing of railroad tracks, building and construction, nuclear infrastructure, and household appliances.
Crude Steel Global Market Size
The global crude steel market was valued at $1191.7 billion in 2017. Asia Pacific was the largest geographic region accounting for $800.7 billion or 67.1% of the global market. China was the largest country accounting for $432.6 billion or 36.3% of the global crude steel market.
Crude Steel Global Market Trend
Global steelmakers are gradually shifting from blast furnace to Electric Arc Furnace (EAF) to manufacture steel. EAF requires much lower investment, uses lower chemical reaction 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.
The companies covered are Arcelor Mittal, POSCO, TATA Steel, Nippon Steel & Sumitomo Metal Corporation, and Hyundai Steel Company.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
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