What is Raw Steel Market Scope?
Raw steel is a combination of a compound of iron, iron ore, oxygen, and other minerals found in nature. It is an iron alloy, mainly composed of iron and mixed with one or more alloy metals to form new elements with unique properties. Raw Steel is divided into four different types – carbon steel, Alloy Steels, Stainless steel, and Tool steel. Each different types of raw steel consist of unique properties and applications which lead it to be used in its respected industries.
The Raw Steel market study is being classified by Type (Carbon Steel, Alloy Steel, Tool Steel and Stainless Steels), by Application (Construction Parts, Railways, Public Utilities and Others) and major geographies with country level break-up.
The Global Raw Steel market consists of different types and each type has unique characteristics. It is the most important material used in many construction Industries, Railways, infrastructure, etc. It has durability and renewability properties which makes it the perfect material for eco-friendly construction projects by Green Builders. Companies are launching recycling plants to reuse steel. The demand for Raw steel increasing in the market and innovating new materials from it. The player is also participating in strategic activities like mergers & acquisitions to enhance their market presence.
ArcelorMittal (Luxembourg), NIPPON STEEL CORPORATION (Japan), Hebei Iron And Steel Co.,Ltd. (China), Baosteel Group (China), SAIL (India), Wuhan Iron And Steel Group (China), POSCO (South Korea), Jiangsu Shagang (China), Tata Steel Group (India), Hyundai Steel (South Korea), JFE Steel Corporation (Japan), Emirates Steel (United Arab Emirates), QATAR STEEL (Qatar), Nucor Corporation (United States), United States Steel Corporation (United States) and Ansteel Group (China) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Raw Steel market by Type, Application and Region.
On the basis of geography, the market of Raw Steel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
On October 08, 2021, Tata Tiscon, India’s first GreenPro Certified rebar brand, has launched new and superior rebar named ‘Tata Tiscon 550SD (Super Ductile)’. The brand has led the product journey from Fe 415 to Fe 500D to Super Ductile rebars and now 550SD. The new GreenPro labeled eco-friendly rebar is the next generation innovation in rebar technology and will provide more safety and strength, resulting in savings for the users. and On August 20, 2021, Chinese steelmakers Ansteel Group and Ben Gang formally began the process of merging their operations, the official Xinhua news agency reported, in a move that will create the world's third-largest producer of metal.
On August 18, 2021, Tata Steel has launched two new brands - Tata FerroBaled and Tata FerroShred for the baled & shredded ferrous scrap produced in its new facility. These products are high-quality processed scrap & they promise to provide the much-needed raw material fillip to the Indian steel industry by making available quality processed ferrous scrap and reducing the dependency on imports.
Influencing Market Trend
- The Invention of Lightweight Steels in the Electronic Industry
Market Drivers
- Growing Need for Raw Steel in Many Engineering Activities
- Easy Availability and Application of Raw Steel Products
Opportunities
- Growing Number of Raw Steel Applications In Various Industries
Restraints
- High-Cost Production and Regulatory Guidelines Associate with It May Restraint Market Growth
Challenges
- High Maintenance Cost of Steel Hindering Raw Steel Market
Key Target Audience
Raw Steel Manufacturers, Raw Steel International Traders, Raw Steel Distributors and Suppliers, Research and Development Institutes, Potential Investors Regulatory Bodies, Upstream and Downstream Buyers and Others
Customization available in this Study:
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