Light Gauge Steel Framing Global Market Report 2023 – By Type (Skeleton, Wall Bearing, Long Span), By End Use (Commercial, Residential, Industrial) – Market Size, Trends, And Global Forecast 2023-2032

Steel products are products derived from steel and iron metal and its alloys obtained through the solidification of hot metal in a pig casting machine to produce various shapes, and are drawn through the rolling or drawing of purchased iron or steel and draw steel wire. The main types of steel products are rolled and drawn steel, iron, and steel pipe and tube. The rolled and drawn steel refer refers to the steel that is rolled out in metal casting. The different product types include flat steel, long steel, tubular steel, steel pipes, and steel tubes and are used in construction, automotive, energy, packaging, and other applications. The global steel products market is segmented - 1) By Type: Rolled and Drawn Steel, Iron and Steel Pipe and Tube 2) By Product Type: Flat Steel, Long Steel, Tubular Steel, Steel Pipes, Steel Tubes 3) By Application: Construction, Automotive, Energy, Packaging, Other Applications Subsegments Covered: Rolled Steel, Drawn Steel The global steel products market size grew from $433.83 billion in 2022 to $465.35 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of steel products is expected to grow to $608.35 billion in 2027 at a CAGR of 6.9%. 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 growth of urban population in South Asia grew by 130 million and is expected to grow to 250 million by 2030. Major companies in the steel products market include 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. The steel product manufacturing industry is being restrained by the rise in power tariffs. Globally, there are movements to increase the use of alternative sources of electric power such as solar, wind, and nuclear power. Initiatives by non-governmental organizations (NGOs), multilateral organizations, and many governments to increase the production and use of alternative sources of power and other economic factors cause a rise in overall power tariffs affecting different industries. The steel goods industry is an energy-intensive industry, and a rise in the power tariffs increases the production costs, affecting the steel product manufacturing market. Metal manufacturing companies are increasing R&D expenditure to launch new product lines. They are launching advanced products such as ultra-light alloys as opposed to commodities. For instance, according to the Ministry of Science and Technology, research and development report 2019-20, the national investment in R&D activities attained a level of Rs. 1,23,847.71 crore. Thus, the introduction of new product lines through increased R&D spending is a significant trend in the metal manufacturing industry. The Asia-Pacific was the largest region in the steel products market share in 2022. Western Europe was the second-largest region in the steel products market. The regions covered in the global steel products industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the steel products market include Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, Vietnam. The steel products market consists of sales of steel plates, steel wire rope, structural steel, hot-rolled steel, and cold-rolled steel. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The steel products market research report is one of a series of new reports from The Business Research Company that provides steel products market statistics, including steel products industry global market size, regional shares, competitors with a steel products market share, detailed steel products market segments, market trends and opportunities, and any further data you may need to thrive in the steel products industry. This steel products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Steel fiber refers to steel strips with short ends that have been specially manufactured to strengthen the concrete by resisting tensile cracking and are used to replace traditional reinforcement in certain non-structural applications as well as minimize cracking by providing good impact strength, high load-bearing capability after being cracked, good ductility, and high resistance. The steel fiber market covered in this report is segmented by type into hooked; straight; deformed; crimped. Hooked steel fiber quality base steel bar has excellent mechanical properties, including high tensile strength. The hooked steel fiber is in large demand in the construction industries in comparison to other types. The market is segmented by application: concrete reinforcement; composite reinforcement; and refractories. The various end user segments are: polymer; chemical; pharmaceutical; aircraft/maritime/machine; measuring & instrumentation devices; and others. The global steel fiber market is segmented – 1) By Type: Hooked, Straight, Deformed, Crimped 2) By Application: Concrete Reinforcement, Composite Reinforcement, Refractories 3) By End User: Polymer, Chemical, Pharmaceutical, Aircraft/Maritime/Machine, Measuring & Instrumentation Devices, Other End-Users The global steel fiber market size will grow from $2.04 billion in 2022 to $2.23 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global steel fiber is expected to grow to $3.26 billion in 2027 at a CAGR of 9.9%. Growth in the construction industry is expected to propel the growth of the steel fiber market. The construction industry deals with the building of houses, bridges, and other buildings. Steel fiber is widely used in construction and civil engineering materials due to its superior properties such as high impact resistance, greater fatigue survival, long lifespan, and reduced maintenance costs. It is used in many applications, such as parking lots, playgrounds, airport runways, taxiways, maintenance hangars, access roads, and workshops. According to the World Bank and McKinsey estimates, the global expenditure from the construction industry is expected to grow by 47%, reaching $14 trillion by 2025. Therefore, rapid growth in the construction industry drives the steel fiber market. Major players in the steel fiber market are Arcelor Mittal, Bekaert, Fibrometals, Nippon Seisen, Zhejiang Boean Metal Products, Green Steel group, Spajic Doo, Hunan Susshine Steel Fiber, YuthianZhitai Steel fiberMnufacturing, R.STAT, Ugitech S.A, Intra Micron Inc., Kosteel Co. Ltd., Junwei Metal Fiber, MaccaferriSpA, The Euclid Chemical Company, Henan Green Polymer Co. Ltd., Nycon, Jiangsu Daqi Metal Surface Treatment Co. Ltd., Fabpro Polymers, Cangzhou Daye Metal Fiber Co. Ltd., Onward Chemicals Pvt. Ltd., Ribbon Technology Corporation, Fibercon International Inc., and Onward Chemicals Pvt. Ltd. Strategic collaborations between companies are a key trend gaining popularity in the steel fiber market. Companies manufacturing steel fiber are undergoing partnerships and collaborations to develop new technologies and products. For instance, in 2020, N.V. Bekaert S.A., a Belgium-based provider of steel wire transformation and coatings, announced a significant collaboration investment in CCL, a UK-based company that is providing specialized engineered solutions for structures around the world. This collaboration is aimed at commercialising a new concrete reinforcing system for on-grade and elevated slab applications. In January 2022, Nippon Steel Corporation, a Japan-based company that manufactures steel products such as steel plates, steel pipes, and structural steel, acquired G.J. Steel and G. Steel for $763 million. Through this acquisition, Nippon Steel Corporation intends to create value by combining expertise and resources in offering existing and new steel fiber products and solutions to the market. The GJ Steel Public Company Limited is a Thailand-based company engaged in producing and selling hot-rolled steel sheets in coils. Asia-Pacific was the largest region in the steel fiber market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steel fiber market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the Steel Fiber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The steel fibermarket consists of sales of single hooked, wad, crescent, and straight. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The steel fiber research market report is one of a series of new reports from The Business Research Company that provides steel fiber statistics, including steel fiber industry global market size, steel fiber market regional shares, competitors with steel fiber share, detailed steel fiber market segments, market trends and opportunities, and any further data you may need to thrive in the steel fiber industry. This steel fiber research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The structural steel fabrication refer to a set of activities conducted to convert raw materials into different shapes by steel fabricators. Structural steel fabrication is the process of cutting, bending, shaping, and assembling steel into various structures with predetermined sizes and shapes designed for assembly into buildings, industrial equipment, tools, and various other final products. The main types of services in structural steel fabrication are metal welding, machining, metal forming, metal cutting, metal shearing, metal folding, metal rolling, metal punching, and metal stamping. Metal shearing is a fabrication process used to trim or remove unwanted material from the metal, primarily used for cutting the metal into smaller sizes and different shapes. The various products include carbon steel, alloy steel, stainless steel, tool steel, and others and are used by aerospace, automotive, construction, defense, electronics, energy and power, manufacturing, mining, and others. The global structural steel fabrication market is segmented - 1) By Service: Metal Welding, Machining, Metal Forming, Metal Cutting, Metal Shearing, Metal Folding, Metal Rolling, Metal Punching, Metal Stamping 2) By Product: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel 3) By End-Users: Aerospace, Automotive, Construction, Defense And Aerospace, Electronics, Energy And Power, Manufacturing, Mining, Other End-Users The global structural steel fabrication market size grew from $142.95 billion in 2022 to $163.16 billion in 2023 at a compound annual growth rate (CAGR) of 14.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of structural steel fabrication market is expected to grow to $245.8 billion in 2027 at a CAGR of 10.8%. The growing construction industry is expected to propel the growth of the structural steel fabrication market going forward. The construction industry is rising as a result of ongoing urbanization, impending infrastructural projects, and a growing population base. The construction sector uses structural steel for a variety of products due to its strength, durability, tensile strength, and low cost. It is the ideal option for designing and fabricating high-rise buildings, residential buildings, bridges, and other structures. For instance, according to the global construction review report published in 2021, construction will be a driving force in global economic growth in the decade to 2030, with output estimated to be 35% greater than in the previous ten years to 2020. Hence, the growing construction industry will drive the growth of the structural steel fabrication market. Major players in the structural steel fabrication market are O'Neal Manufacturing Service, BTD Manufacturing, EVS Metal, Defiance Metal Products, LancerFab Tech Pvt. Ltd., Mayville Engineering Company, Watson Engineering, Tata Steel, Zamil Steel Buildings India Private Limited, Sujana Group, Apex Buildsys Limited, Ironform Holdings Co., Bohai Group, Anyang Group Co. Ltd., Wuhan Group, POSCO, Hebei Group, Baogang Group, Gerdau S.A., JSW Steel, POSCO, Taylor and Watson Ltd., STI Group, Richard L. Sensenig Company, Structural Steelworks & Engineering Ltd., Structural Fabrications Ltd., Lenex Steel, and Steel LLC. The introduction of CNC plasma cutting machines by steel fabricators in their manufacturing plants for precise steel cutting is a major trend gaining popularity in the structural steel fabrication market. In a CNC plasma machine, a plasma cutter is employed to cut thin to thick metals along a multi-axis grid. The CNC technique has an advantage over hand-held plasma cutting devices since the cut is programmed and controlled by a computer rather than human actions. For instance, in April 2021, Salasar Techno Engineering, an India-based company that provides steel fabrication, opened a new structural steel fabrication plant in Uttar Pradesh, India. Salasar's new facility includes high-precision robotic multi-torch CNC plasma cutting equipment. The facility will fabricate heavy structural steel for power plants, metro stations, bridges, PEB buildings, warehouses, airport hangers, high-rise buildings, and process plants. In June 2021, DBM Global Inc., a US-based infrastructure company, acquired Banker Steel Holdco LLC for an undisclosed amount. The acquisition of Banker Steel will significantly improve DBM's capacity to capitalize on significant infrastructure and commercial possibilities in America. Banker Steel Holdco LLC is a US-based producer of fabricated structural steel components for infrastructure and commercial projects. Asia-Pacific was the largest region in the structural steel fabrication market share in 2022. The regions covered in the global structural steel fabrication idustry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the structural steel fabrication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The structural steel fabrication market includes revenues earned by entities by providing fabrication services and related products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The structural steel fabrication research report is one of a series of new reports from The Business Research Company that provides structural steel fabrication statistics, including structural steel fabrication industry global market size, regional shares, competitors with structural steel fabrication share, detailed structural steel fabrication segments, market trends and opportunities, and any further data you may need to thrive in the structural steel fabrication industry. This structural steel fabrication research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The steel wires refer to steel products such as tubes and pipes from iron and steel, shapes drawn through rolling or drawing of purchased iron or steel, and draw steel wire. Steel wire manufacturing consists of different sizes, diameters, and strengths that are used for the purpose and survival of several types of equipment. The main types of steel wires are carbon steel and alloy steel. Carbon steel is a special type of steel that has a higher concentration of carbon than other types of steel. Alloy steel is alloyed with a variety of elements in total amounts between 1.0% and 50% by weight to improve its mechanical properties. Steel wires come in various forms, such as none rope and rope. These steel wires come in thicknesses of 0.01 to 0.8 mm, 0.8 mm to 1.6 mm, 1.6 mm to 4 mm, 4 mm and above. Steel wires are used by end user such as construction, automotive, energy, agriculture, and industrial. The global steel wire market is segmented - 1) By Type: Carbon Steel, Alloy Steel 2) By Thickness: 0.01 mm to 0.8 mm, 0.8 mm to 1.6 mm, 1.6 mm to 4 mm, 4 mm and above 3) By Form: Non Rope, Rope 4) By End-use: Construction, Automotive, Energy, Agriculture, Industrial The global steel wire market size grew from $89.34 billion in 2022 to $94.16 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global steel wire market is expected to grow to $116.48 billion in 2027 at a CAGR of 5.5%. Growing demand for high-rise buildings is expected to drive the growth of the steel wires market. The materials used for the structural system of high-rise buildings are reinforced concrete and steel. Skyscrapers have a steel frame, while residential blocks are usually constructed of concrete. For instance, in 2021, world’s 7.8 billion population live in cities and urban areas, and 2.5 billion more are expected to join them within the next 20-25 years. High-rise buildings, particularly residential ones, have proved to be beneficial in densely-populated cities where vacant plots in cities with over 3 million people. Therefore, growing demand for high-rise buildings leads to the growth of the market. Major players in the steel wire market are ArcelorMittal, Nippon Steel, JFE Steel Corporation, Bekaert SA, Tata Steel Limited, Kobe Steel Limited, The Heico Companies, Ferrier Nord, Chung Woo Rope Co. Ltd., Fasten Group, Gustav Wolf GmbH, Bharat Wire Ropes Limited., Certex Svenska AB, DaeChang Steel, Kiswire Inc., Mahadev Industries, Mazzella Companies, Shinko Wire Company Ltd., SWR Ltd., Metallia U.S.A. LLC, Republic Steel, King Steel, Cascade Steel Rolling Mills Inc., North American Stainless, Global Steel Wire, Keystone Consolidated Industries Inc., Greenmount Corporation., BRUGG Lifting AG, Tokyo Rope Mfg. Co, and Cortland Limited. Product innovations and new product launch are a key trend gaining popularity in the steel wire market. Companies in the market are focusing on introducing new, advanced and efficient steel wires. For instance, in 2020, India based steel product company, Steel Authority of India's Isco Steel Plant Burnpur (SAIL- ISP) introduced a premium segment of wire rod products, as part of its effort to expand market share across various industries and cater to growing needs of its customers. The company developed Cable Armour Quality Wire Rod which provides mechanical protection, allowing the cable can withstand higher stress. In January 2022, Nippon Steel Corporation, a steel-producing corporations acquired G Steel and G J Steel company for an undisclosed amount. This acquisition is expected for Nippon steel company to expand its business in locally integrated Thailand and capture demand for hot-rolled steel sheets. G Steel and GJ Steel is a Thailand based steel manufacturer. Asia-Pacific was the largest region in the steel wire market share in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the global steel wire market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the steel wire market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA The steel wires market consists of sales of coated wire rope, stainless steel wire and galvanised steel wire. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The steel wires market research report is one of a series of new reports from The Business Research Company that provides steel wires market statistics, including steel wires industry global market size, regional shares, competitors with a steel wires market share, detailed steel wires market segments, market trends and opportunities, and any further data you may need to thrive in the steel wires industry. This steel wires market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Special steel refers to specialty steel as value-added steel that is transformed from normal finished steel through coating, plating, and heat treatment into highly valuable steel that can be used in a variety of strategic applications and is created by combining iron with different elements. These are used for manufacturing and maintenance components in a variety of applications, from smartphones to everyday home appliances to automobiles and other transportation equipment that is crucial to modern society. The main types of special steel in the market are stainless steel, structural steel, and tool and die steel. Stainless steel refers to a steel alloy that contains chromium plus another element (such as nickel or molybdenum) and is virtually impervious to rusting and other forms of corrosion. The grade involves 200 series, 300 series, 400 series, duplex series, and other grades. The various applications include automotives, construction, consumer appliances, manufacturing, petrochemicals, and shipping and packaging. The global special steel market is segmented - 1) By Type: Stainless Steel, Structural Steel, Tool and Die Steel 2) By Grade: 200 Series, 300 Series, 400 Series, Duplex Series, Other Grade 3) By Application: Automotive, Construction, Consumer Appliances, Manufacturing, Petrochemicals, Shipping And Packaging The global special steel market size will grow from $175.42 billion in 2022 to $188.16 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of special steel is expected to grow to $248.33 billion in 2027 at a CAGR of 7.2%. Increasing consumption of special steel in the automotive sector is expected to propel the growth of the special steel market going forward. The automotive sector refers to businesses involved in the manufacture, distribution, retail, and upkeep of automobiles. Special steel helps the automotive sector by providing high-quality steel to build a vehicle and also maintain safety standards in the industry. For instance, in April 2022, according to a report shared by The European Automobile Manufacturers Association, a Belgium-based main lobbying and standards group of the automobile industry in the European Union, 79.1 million motor vehicles were produced worldwide in 2021, a rise of 1.3% over 2020. Each car uses 900 kg of steel on average. Therefore, increasing consumption of special steel in the automotive sector is driving the growth of the special steel market. Posco, JFE Holdings Inc., Gerdau, ThyssenKrupp Stainless, Aperam S.A, Outokumpu, Dongbei Special Steel Group Co. Ltd., Hyundai Steel Co. Ltd., AK Steel Holdings Corporation, Baosteel Group, Nippon Steel Corporation, ArcelorMittal S.A, Tata Steel Limited, Nanjing Iron & Steel Group Co. Ltd., and Voestalpine AG are major players in the special steel market Increasing investments in special steel industries is a key trend gaining popularity in the special steel market. Major companies are investing in the special steel industry to strengthen their position in the special steel market. For instance, in March 2021, BMW Group, a Germany-based luxury vehicle company, is investing in an innovative method for CO2-free steel production developed by American startup Boston Metal, through its venture capital fund, BMW Ventures. The investment is part of the BMW Group’s far-reaching sustainability activities aimed at significantly reducing CO2 emissions across the supplier network. In March 2022, Beltrame Group, an Italy-based steel company that produces and laminates merchant bars and special steel SBQ for construction and shipbuilding, acquired Târgovi?te Special Steel Plant for an amount of $39.7 million. The Beltrame Group's acquisition of COS Targoviste is a significant development in the country's expansion strategy and demonstrates our dedication to the long-term growth of the region's steel industry. With this agreement, Beltrame Group hopes to make the COS Targoviite factory a highly competitive special steel production facility in Europe. COS Targoviste is a Romanian special steel plant. Asia-Pacific was the largest region in the special steel market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in this special steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the special steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The special steel market consists of sales of carbide, austenite, and ferrite forming elements. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The special steel market research report is one of a series of new reports from The Business Research Company that provides special steel industry statistics, including global market size, regional shares, competitors with a special steel market share, detailed special steel market segments, market trends and opportunities, and any further data you may need to thrive in the special steel industry. This special steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Sintered steel is a type of steel metal that uses heat to fuse the powdered material into a tougher, stronger portion to form complex shapes, produce alloys, or work in metals with extremely high melting points. It is low cost, low material waste, accurate, and requires little or no calibration processes. The main types of sintered steel are stainless steel, carbon steel, alloy steel, and tool steel. Stainless steels are steels containing at least 10.5% chromium, less than 1.2% carbon, and other alloying elements. At high temperatures, sintered stainless steel is being used in systems requiring high corrosion resistance at both ambient and high temperatures. Sintered steels are made by various processes such as metal injection moulding (MIM), conventional manufacturing, powder forging manufacturing, and additive manufacturing. Sintered steels are used by end-users that include transportation, industrial, electrical, and others (recreational/hobbies equipment, sports, gun components, hardware, computers, etc.). These are also used in engines, transmissions, bodies, chassis, drivetrain, electrical, and other applications (aerospace). The global sintered steel market is segmented – 1) By Type: Stainless Steel, Carbon Steel, Alloy Steel, Tool Steel 2) By Process: Metal Injection Molding (MIM), Conventional Manufacturing, Powder Forging Manufacturing, Additive Manufacturing 3) By End-User Industry: Transportation, Industrial, Electrical, Other End-Users 4) By Application: Engines, Transmissions, Body, Chassis, Drivetrain, Electrical, Other Applications The global sintered steel market size will grow from $15.25 billion in 2022 to $16.36 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global sintered steel market size is expected to grow to $20.84 billion in 2027 at a CAGR of 6.2%. The expansion of the automotive sector and increasing demand for innovative designs are contributing to the growth of the sintered steel market. The concepts of electrified, autonomous, connected, and shared will result in a rise in the rate of innovation within the automotive sector. The increasing speed of innovation, mainly in software-based systems, will require cars to be upgradable. Sintered components are finding applications within the automotive industry in areas where they will replace existing forged metal parts. For instance, according to Ibef data 2021, automobile manufacturing has increased at 2.36% CAGR between FY16 and 20 with 26.36 million vehicles being manufactured in the year 2020. In September 2021, Hero Electric announced it would expand production capacity at its facility in Ludhiana, Punjab, to >5 lakh units by the year March 2022, up from the existing capacity of 1 lakh units per year. The expansion of the automotive sector and increasing demand for innovative designs will drive the growth of the sintered steel market. Major players in the sintered steel market are Sumitomo Electric Industries Limited, GKN PLC, SamvardhanaMotherson Group, Hitachi Chemical, The Miba Group, ASCO Sintering Co, Sintercom India Ltd., AMES Sintering Metallic Components, Schunk Sinter Metals, CNPC Powders, Erasteel, Advanced Technology (Bazhou) Special Powder Ltd., Hoganas AB, Polema, SMC Corporation, Posco, Nippon Steel Corporation, Outokumpu, ArcelorMittal, Schmolz+Bickenbach AG, Thyssenkrupp Stainless, Acerinox S.A., Mirach Metallurgy Co, SSI Sintered Specialties, MEK Group, Atlas Pressed Metals, Technymon Global Bearing Technologies S.r.l, and Federal-Mogul Goetze Limited. Technological advancement in the automotive sector is a key trend gaining popularity among the companies working in the sintered steel market. In December 2021, Mumbai-based automobile-as-a-service company Autonomous Intelligence Motors Private Limited announced that it would be launching an artificial intelligence-of-things powered autonomous car in the country in the year 2022. The first-of-its-kind AI-powered driverless car will be equipped with BS8-compliant engines for both petrol and diesel variants, besides the electric variants. The autonomous car will be integrated with cameras, custom sensors, and radars. Its perception system will use data sensed from multiple sensors and algorithms fitted in the car, which will indicate road potholes, curvatures, routes, lanes, etc. In August 2021, Metal Powder Products, LLC, a US-based company, acquired Proform Powdered Metals, Inc., for an undisclosed amount. Through this acquisition, MPP creates an expansion of its business platform and the delivery of high-quality goods and services. The purchase of Proform improves MPP's position in the market and leads to increased efficiency. Proform Powdered Metals, Inc., is a US-based company pioneering in the manufacturing of premium steel and sintered bronze bearings, bushings, and spacers. Asia-Pacific was the largest region in the sintered steel market in 2022 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the sintered steel market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the Sintered Steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The sintered steel market consists of sales of copper steel, diffusion alloyed steel, and copper-infiltrated alloys. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the sintered steel market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The sintered steel market research report is one of a series of new reports from The Business Research Company that provides sintered steel statistics, including sintered steel industry global market size, regional shares, competitors with sintered steel market shares, detailed sintered steel market segments, sintered steel market trends and opportunities, and any further data you may need to thrive in the sintered steel industry. This sintered steel research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Tool steel is a carbon and alloy steel having distinct characteristics such as wear resistance, hardness, toughness, and resistance to softening at elevated temperatures that is well-suited to producing tools such as hand tools and machine dies. The tool steel is used to make cutting tools for machining metals. The main types of products covered in the tool steel market include water-hardening, cold-work, shock-resisting, high-speed, hot-working, and special purpose. Water-hardening tool steel is also referred to as W-group tool steel and can be easily hardened by heating and quenching in water. The types of materials used in the manufacturing of tool steel include tungsten, chromium, vanadium, and molybdenum. The various end-users of tool steel include general manufacturing, automotive, defense and aerospace, electronics and electrical, shipbuilding, and others. The global tool steel market is segmented - 1) By Product Type: Water-hardening, Cold-work, Shock-resisting, High speed, Hot-working, Special Purpose 2) By Material Type: Tungsten, Chromium, Vanadium, Molybdenum 3) By End Use: General Manufacturing, Automotive, Defense and Aerospace, Electronic and Electrical, Ship Building, Other End Uses The global tool steel market size grew from $5.39 billion in 2022 to $5.75 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of global tool steel is expected to grow to $7.32 billion in 2027 at a CAGR of 6.2%. The growing automotive industry is expected to propel the growth of the tool steel market going forward. Automotive industries refer to companies and organizations involved in the development, design, manufacturing, and marketing of motor vehicles. Tool steel such as stainless steel, high-strength steel, low-carbon, high-carbon, or galvanized steel helps the automotive industry in the production of vehicle and engine components. For instance, according to India Brand Equity Foundation, an Indian government export promotion agency, in January 2022, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles reached 1.86 million units. Therefore, the growing automotive industry is expected to boost demand for the growth of the tool steel during the forecast period. Major players in the tool steel market are Voestalpine High-Performance Metals LLC, Samuel Son & Co., Eramet Group, QiLu Special Steel Co., Ltd., Hitachi Metals Ltd., Hudson Tool Steel Corporation, Swiss Steel Group, NACHI-Fujikoshi Corporation, Universal Stainless & Alloy Products Inc., Kennametal Inc., Graphite India Ltd., HEYE Special Steel Co. Ltd., OSG Corporation, Thyssenkrupp Steel Europe AG., and Erasteel. Innovative products and technologies are gaining great popularity in the tool steel market. The key players operating in the tool steel market are focusing on developing innovative tools with advanced materials to meet the industry's demands and expand their business presence. For instance, in November 2022, Headmade Materials GmbH, a German-based company specializing in the productive metal 3D printing process launched M2 tool steel. This product has good toughness, wear resistance, and hardness properties, as well as a high part density of 99%. It has replaced grade T1 in most applications worldwide, making it the most popular type of high-speed steel. Further, in October 2021, Westminster Tool, a US-based tool steel manufacturer running rigorous DOE on 3D-printed tool steels offered a hybrid 3D printing platform that allows mould makers to create high-tolerance metal components faster, cheaper, and with less secondary finishing. In June 2020, Sandvik, a Sweden-based company specializing in metal cutting, stainless and special steel alloys, acquired Miranda Tools for an undisclosed amount. The acquisition is expected to enhance Dormer Pramet’s product offering and facilitate its position in important areas such as India, China, and Southeast Asia. Miranda Tools, based in India, manufactures a variety of round tools made of high-speed steel and solid carbide. Asia-Pacific was the largest region in the tool steel market in 2022, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the global tool steel market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the tool steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The tool steel market consists of sales of blacksmith chisels, cold chisels, hot working chisels, clutch parts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The tool steel market research report is one of a series of new reports from The Business Research Company that provides tool steel market statistics, including tool steel industry global market size, regional shares, competitors with a tool steel market share, detailed tool steel market segments, market trends and opportunities, and any further data you may need to thrive in the tool steel industry. This tool steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electrical steel refers to a ferromagnetic material made up of iron that contains varying amounts of silicon (Si) that range from 1% to 6.5%. It is a soft magnetic material with enhanced electrical properties that are widely used across applications such as small relays, solenoids, electric motors, generators, and many other electromagnetic devices. The main types of electrical steel include grain-oriented and non-grain-oriented. Grain-oriented electrical steel is used in efficient transformers and large, high-performance generators. Grain oriented electrical steel contains 3% silicon steel that is processed under carefully controlled conditions and is used in transformers and generators. Electrical steel is used in different industries such as energy, automotive, household appliances, and manufacturing for applications in large power transformers, distribution transformers, small transformers, power generators, and audio transformers. The global electrical steel market is segmented - 1) By Type: Grain-Oriented, Non-Grain-Oriented 2) By Industry: Energy, Automotive, Household Appliances, Manufacturing 3) By Application: Large Power Transformers, Distribution Transformers, Small Transformers, Power Generators, Audio Transformers The global electrical steel market size will grow from $26.47 billion in 2022 to $28.3 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global electrical steel is expected to grow to $36.9 billion in 2027 at a CAGR of 6.9%. Increasing demand for electric and hybrid vehicles is significantly contributing to the growth of the electrical steel market. Electrical steel has high flux density and low iron loss properties, and is thus used in electric motors to realise high motor efficiency. For instance, in countries like China, the US, and Europe, the sales of electric cars increased by nearly 160% in the first half of 2021 over 2020 in the same period. According to research firm Wards Intelligence, US hybrid vehicle sales in 2021 jumped 76% over the previous year. Thus, increasing demand for electric and hybrid vehicles will contribute to the growth of the electric vehicle market. Major players in the electrical steel market are ThyssenKrupp AG, TISCO, Nippon Steel, Posco, JFE Steel, Nicore Electrical Manufactory Co. Ltd., Voestalpine, ArcelorMittal, AK Steel (Cleveland-Cliffs), SAIL, Cogent Power Ltd., Tempel Steel Company, Phoenix Mecano AG, JFE Steel Corporation, Leicong Industrial Co., Ltd., United States Steel Corporation, Novolipetsk Steel and Allegheny Technologies Inc.,. The increasing development of sustainable products is a key trend gaining popularity in the electric steel market. Companies in the market are focusing on manufacturing electric steel that is environmentally friendly and emits fewer greenhouse gases. For instance, in 2022, Germany-based steel manufacturer, ThyssenKrupp AG, developed electric steel with 50% lower CO2 emissions for use in power and distribution transformers. The low-emission electric steel has low core losses and thus achieves high current transport efficiencies. ThyssenKrupp would supply it for manufacturing transformers with CO2-reduced electrical steel for new digital E.ON medium-voltage stations in Germany. In November 2021, a US-based industrial metals manufacturer, Worthington Industries, Inc., announced the acquisition of Tempel Steel Company for $255 million. The acquisition would make Worthington Industries a leading company in the rapidly growing electrical steel market that includes transformers, machine motors, and electric vehicle (EV) motors. Tempel Steel Company is a US-based steel company offering precision motors and transformer laminations for the electrical steel market. Asia-Pacific was the largest region in the electrical steel market in 2022. North America is expected to be the fastest-growing region in the forecast period.The regions covered in the electrical steel market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electrical steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electrical steel market consists of sales of silicon steel, transformer steel, or lamination steel.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electrical steel market research report is one of a series of new reports from The Business Research Company that provides electrical steel market statistics, including electrical steel industry global market size, regional shares, competitors with electrical steel market share, detailed electrical steel market segments, market trends and opportunities, and any further data you may need to thrive in the electrical steel industry. This electrical steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.