Research and Markets has announced the addition of the "Global Iron and Steel Industry 2012-2017: Trend, Profit, and Forecast Analysis" report to their offering.
The global iron and steel industry is expected to witness good growth during the next five years, and the industry revenue is forecast to reach an estimated $1,715 billion in 2017 with a CAGR of 5.1% over the forecast period.
The iron and steel industry is highly fragmented. Asia dominates this industry and represents 61%. Some of the major players in this industry are Arcelormittal, ThyssenKrupp, Nippon Steel, and POSCO. A combination of factors such as growth in related complementary industries and governmental regulations, cyclical fluctuations in input prices, general economic conditions, and end-use markets are witnessed to impact the industry dynamics significantly.
Lucintel's research indicates that the unavailability of raw materials from the mining sector such as iron ore, coal, and power and achieving economies of scale to reduce costs and improve the quality of output are challenges being faced by the industry. Technological advancement and new product development at competitive prices will be the key factors for future market growth. APAC is projected to lead the industry over the forecast period. The emerging markets of China and India are expected to witness growth on the back of robust demand from key end user markets such as construction, automotive, and consumer durables. A high rate of growth in emerging economies will lead to growth of iron and steel market.
This comprehensive guide from Lucintel provides readers with valuable information and the tools needed to successfully drive critical business decisions with a thorough understanding of the market's potential.
- Nippon Steel