Global Blast furnace Market Overview:
The blast furnace is the main ironmaking production unit in the world which converts iron ore with coke and hot blast into liquid iron, hot metal, which is used for steelmaking. The furnace acts as a counter-current reactor charged with layers of raw material of very different gas permeability. The arrangement of these layers, or burden distribution, is the most important factor influencing the gas flow conditions inside the furnace, which dictate the efficiency of the heat transfer and reduction processes. In spite of alternative methods of iron making 94.1 wt % iron is still being produced by blast furnace route only.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Development in Blast Furnace Technology
Market Growth Drivers:
Increasing Popularity of Steel Mini Mills and Increasing Demand from the Iron and Steelmaking Industry
Challenges:
The Furnace Process is Time Consuming
Restraints:
The Cost of a Blast Furnace is high
Opportunities:
Growing Private Sector Mills in Developing Regions
Competitive Landscape:
Major players have adopted various strategies such as product portfolio expansion, mergers and acquisitions, geographic expansion, agreements, and collaborations to increase their market share and strengthen their foothold in the industry.
Some of the key players profiled in the report are Noble Industrial Furnace (United States), Can-Eng Furnaces (United States), CISDI Group (China), JPW Industrial Ovens and Furnaces (United States), Primetals Technologies (United Kingdom), Energy Solutions Center Inc. (United States), SMS group (Germany), Wisconsin Oven (United States), DANIELI (Italy), LARSEN & TOUBRO (India), Nippon Steel Engineering Co., Ltd. (Japan) and GRIEVE (United States). Additionally, following companies can also be profiled that are part of our coverage like Jiangsu Aoguang Corrugated Pipe Co., Ltd (China) and Allied Mineral (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Blast furnace market by 2028.
Latest Market Insights:
In 2018, Nippon Steel Engineering Co., Ltd. acquired shares in Vina Kyoei Steel Co., Ltd., a Vietnamese steel company, to strengthen its presence in the Southeast Asian market.
Advanced automation systems are being used to control blast furnace operations, improving safety and reducing labor costs. For example, robots can be used to perform maintenance tasks inside the furnace, reducing the need for human workers to enter a dangerous environment.
United States - KRS 77.180 provides that the Air Pollution Control Board may make and enforce all needful orders, rules, and regulations necessary or proper to accomplish the purposes of KRS Chapter 77. This regulation provides for the control of emissions from new blast furnace cathouses.
What Can be Explored with the Blast furnace Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Blast furnace Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Blast furnace
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Blast furnace market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Blast furnace market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Blast Furnace, Suppliers of Blast Furnace, Wholesalers, Distributors, and Retailers of Blast Furnace, Steel Industry and Governmental Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.