Long Steel Market: An overview
Long steel is extensively used for construction purposes to provide structural support to the body of the building. In the field of construction, long steels are preferred over flat steel owing to their extensive tensile strength and ductility of the product. Growth in construction projects across the globe has increased the demand of long steels over the period of 2015-2019. Demand from regions such as East Asia and North America has tremendously increased over the past half-decade leading to the expansion in demand for construction materials.
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High tensile strength, ductility and bundle of other construction favoring properties has led to the rise in demand of long steels. Apart from construction applications, rapid utilization of long steel in the field of transportation such as railways has driven the market in the historical period. Expanding rail project horizons in South Asia & Oceania have opened doors for many manufacturers to expand in the region. Construction application is set to provide thrust to the long steel market in long-run. Global long steel market is forecast to witness absolute growth at a higher digit CAGR between 2020 and 2030. Rising demand from construction, railways and industrial applications has positively impacted long steel market.
COVID-19 to Contract the Long Steel Market
COVID-19 or Novel corona virus has not only shattered the movement of the people but also the production and trade of the major products in the market. In the perspective of the long steel market, construction activities stepped on brakes pushing the construction industry and long steel market into turmoil. For the market to resurrect to its original form, construction activities should restart at force which is possible post 4th quarter of FY2020. Not only long steel demand, supply has also been put on hold to normalize the market prices which is set to normalize the overall production cost, post market resurrection. All in all supply chain of long steel has been disrupted and is set to remain till the end of 4th quarter FY 2020.
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Segmentation analysis of long steel Market:
The global long steel market is bifurcated into three major segments: production process, product type, end-use industry and region.
On the basis of production process, long steel market has been segmented as follows:
- Electric Arc Furnace
- Basic Oxygen Furnace
On the basis of Product Type, long steel market has been segmented as follows:
- Merchant bar
- Rail bar
On the basis of End-Use industry, long steel market has been segmented as follows:
On the basis of geographic regions, long steel market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Long Steel Market: Regional Outlook
From regional perspective, East Asia holds for largest market share in global long steel market. Construction activities and the rising level of infrastructural operation uptake in the historical period has driven the regional demand. This has provided an immense opportunity for the long steel market to grow in East Asia region. Shift of trade curves to the right portrays an image of rapid growing market. Followed by East Asia, North America accounts for less than 25% of the global long steel demand. Market is growing at a steady pace in this region owing to the rise in constructional operations, which provides enough push for the demand requisite in the region. South Asia & Oceania and Latin America are growing at a moderate pace as the region owing to the decline in constructional activities in the period of 2018-2020. Middle East and Africa is growing at a fast pace owing to the fastest growing construction and industrial activities in the region
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Long Steel Market: Key Players
Global long steel market is slightly fragmented in nature with presence of numerous international players. Key players in market are focused towards expansions through partnerships and acquisitions. These players aim to provide a scattering range of long steel suited for different construction and industrial purposes. Key players in global long steel market are ArcelorMittal, POSCO, NUCOR Corporation, China Baowu Steel Group Corporation Limited, Mechel Pao, Dyneon Gmbh, Novolipetsk Steel, Tata Steel, Ansteel Group Corporation Limited, JFE Steel Corporation, Hyundai steel., JSW Steel, Wuhan Iron And Steel Corporation and other long steel manufacturers.
The research report presents a comprehensive assessment of the Long steel market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Long steel Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Long steel Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic & Russia)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, Malaysia, Indonesia, Thailand, Australia & New Zealand and Rest)
- Middle East & Africa (GCC Countries, South Africa, Turkey)
The long steel report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Long steel report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Long steel report also maps the qualitative impact of various market factors on market segments and geographies.
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