Global steel markets until 2026


Dublin, 06 Oct 2021 (GLOBE NEWSWIRE) – The report “Steel – Global Market Trajectory & Analytics” has been added to offer.

Global steel market to reach 2.2 billion metric tons by 2026

Steel, one of the most essential engineering materials, is known for its diverse applications in all aspects of human life. Steel is the basis of a number of industries in general and of manufacturing in particular.

The fortunes of the finished steel products market depend on the health of major end-use markets such as construction industry, automotive and automotive component manufacturing, metal product manufacturing, shipbuilding, machinery manufacturing , oil and gas infrastructure, among others.

In the post COVID-19 period, expected increase in construction activity, improvement in manufacturing sector and subsequent increase in demand and production of a range of machinery, increase in metal product manufacturing and demand and Renewed production of transport solutions, in parallel with the improvement of the global economy, will therefore stimulate the demand for finished steel. Further urbanization, increasing demand for energy and water are the other major factors driving the growth of the market.

Amid the COVID-19 crisis, the global steel market, estimated at 1.7 billion metric tons in 2020, is expected to reach a revised size of 2.2 billion metric tons by 2026, with a 4.1% CAGR over the analysis period. Construction, one of the segments analyzed in the report, is expected to grow at a CAGR of 3.5% to reach 992 million metric tonnes by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Machinery segment is readjusted to a revised CAGR of 4% for the next 7 year period. This segment currently represents an 18.2% share of the world steel market. Construction is the largest end-use segment of the steel industry.

The state of the construction industry in each geographic area, both new construction and renovations, has a strong impact on steel consumption. The steel used in the construction segment meets the standard requirements of high performance, corrosion resistance and fire protection.

The need to manufacture lightweight, rust-free machinery drives the demand for steel in the machinery industry. There is a great demand for high strength steel plates with improved weldability, formability and low temperature toughness.

The US market is estimated at 79.4 million metric tons in 2021, while China is expected to reach 1.3 billion metric tons by 2026

The steel market in the United States is estimated at 79.4 million metric tons in 2021. The country currently accounts for a 4.55% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of 1.3 billion metric tons in 2026, with a CAGR of 4.6% during the analysis period.

Other geographies of interest include Japan and Canada, each forecasting growth of 1.8% and 2.1% respectively over the analysis period. In Europe, Germany is expected to grow by around 3.1% CAGR while the rest of the European market (as defined in the study) will reach 1.3 billion metric tonnes by the end of the period. to analyse.

China remains the largest regional market for finished steel products, due to the huge construction and industrial activity in the region, which generates high demand for a range of steel products. The sustained pace of economic development, industrialization, rapid urbanization, steadily increasing construction activity and strong demand for automobiles, among others, will help boost demand for steel in developing regions. in the post COVID-19 environment.

Transportation segment to reach 353.2 million metric tonnes by 2026

In the global transportation segment, the United States, Canada, Japan, China and Europe will lead the estimated CAGR of 3.16% for this segment. These regional markets representing a combined market size of 209.9 million metric tonnes in 2020 will reach a projected size of 284.8 million metric tonnes by the end of the analysis period.

China will remain among the fastest growing countries in this group of regional markets. Led by countries such as Australia, India and South Korea, the Asia-Pacific market is expected to reach 56.8 million metric tons by 2026, while Latin America will grow at a CAGR of 4.8% during the analysis period.

Main topics covered:




  • Impact of COVID-19 pandemic and looming global recession: 2020 marked as a year of disruption and transformation

  • Demand erosion induced by COVID-19 crisis hampers global steel industry in 2020

  • Hit by COVID-19 outbreak, steel industry and demand are quickly returning to normal: the current scenario

  • Regional recovery scenario

  • Healthy outlook for steel demand in developing countries

  • Global Market Outlook and Outlook

  • Critical importance of steel in all aspects of human life to create an environment conducive to future growth

  • Properties of different types of steel

  • An overview of steel end-use sectors

  • Regional analysis

  • Contraction in demand in developed economies

  • China holds key to future steel industry growth

  • Falling demand for steel in developing economies before a noticeable recovery in 2021

  • Global steel industry: production, exports and imports

  • Steel production soars over the 2017-2019 period

  • China remains the main steel exporter in 2020

  • China becomes the leading importer of steel

  • Competitive scenario

  • Main players in the global steel market

  • Globalization and rationalization remain the main survival strategies of steel companies

  • Steel companies focus on restructuring operations

  • Getting closer to customers: the new strategic initiative

  • Innovations and product differentiation are increasingly targeted among suppliers

  • Consolidation is accelerating

  • Recent market activity

  • Wave of latest advances that could pave the way for a green and sustainable steel economy

  • Select Innovations and Advances


  • Ansteel Group Corporation Ltd.

  • ArcelorMittal SA

  • China Baowu Steel Group Corporation Limited



  • Gerdau SA

  • HBIS Group

  • HYUNDAI Steel Company

  • JFE Steel Company

  • Jiangsu Shagang Group

  • Nippon Steel Corporation

  • Nucor Company


  • Riva Group

  • Shandong Iron and Steel Group Co. Ltd.

  • Shougang Group Co., Ltd.

  • Tata Steel Group

  • Tata Steel Europe Ltd.

  • thyssenkrupp Steel Europe AG

  • United States Steel Company


  • The outlook for the steel industry is highly dependent on the global construction industry scenario

  • The depressive scenario prevailing in the global construction sector weakens the dynamics of the steel industry

  • Current outlook remains bleak for steel in the automotive industry

  • Ongoing Transition to Lighter Vehicles to Drive Future Demand for Automotive Steel

  • Emissions regulation landscape in major countries / regions

  • Steel versus aluminum: the dilemma persists for a better lightweight automotive material

  • The critical importance of steel in machinery manufacturing bodes well for future growth

  • High performance steel grades gain importance in machine manufacturing

  • The suitability of steel in home appliance and metal products fields bodes well for future growth

  • Metal cans: niche end-use segment

  • Slow trajectory of the oil and gas sector will hamper short-term dynamics

  • Recovery planned in the oil and gas sector in 2021 to generate parallel opportunities for the steel industry

  • High volume opportunities in shipbuilding

  • Carbon steel seeks to expand addressable market

  • Demand for stainless steel is growing

  • Stainless steel continues to rule the home appliance market

  • Growing Use Case in Various Applications Expands Future Prospects

  • Demand for special long steels is on the rise

  • Expanding the Role of Electric Arc Furnace (EAF) in the Steel Production Landscape

  • The steel industry persists in its effort to save energy

  • An environmentally friendly approach is gaining ground

  • Recycling Scrap Steel: A Robust Approach to Energy Conservation

  • Population growth and urbanization are driving future growth of the steel market

  • Steel prices: a game of demand and supply

  • Demand surges after COVID-19 hiatus leading to steel shortage and price hikes

  • Soaring U.S. steel prices sparks speculation over possible bubble

  • Steel: an overview

  • Steel classification

  • Steel making process

  • Refining and casting

  • Forming and finishing

  • Steel products (semi-finished and finished)

  • A brief note on the main end-use segments




For more information on this report, visit

CONTACT: CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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