The article cited AMA's Global Iron and Steel Market Study explored significant growth with CAGR of 3.8%. According to the report, Rapid rate of urbanization is one of the primary growth factors for the market. Abundance of iron ore & other minerals for steel production is also expected to contribute significantly to the Iron and Steel market. Overall, Building & Construction applications of Iron and Steel, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models – a trend that will continue in the future.

AMA’s Analyst on the Global Iron and Steel Market identified that the demand is rising in many different parts of the world due to "Transition toward net-zero steel ". Furthermore, some recent industry insights like "In December 2022, The China Baowu Steel Group Corporation has signed the Simandou Infrastructure Project Term Sheet with SMB-Winning Consortium (Guniea) and Guinean Government. The main aim of this joint investment is the development of infrastructure, such as railways and ports, which further leads to the overall development of the Simandou project. and In August 2022, The Tata Steel Limited signed an MoU with the Government of Punjab for setting up a 0.75 MnTPA long products steel plant with a scrap-based electric arc furnace (EAF)." is constantly making the industry dynamic. One of the challenges that industry facing is "Environmental challenge and Problem of excess capacity"

The Technology, such as Basic Oxygen Furnace, is boosting the Iron and Steel market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Iron and Steel market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Iron and Steel market and other related sub-markets covered in the study.

o Key & emerging players in the Iron and Steel market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Iron and Steel market size is calculated using market estimation process, the Iron and Steel market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Iron and Steel market size has been validated using both top-down and bottom-up approaches.