The Steel Processing Global Market Report 2023, provides comprehensive information on the steel processing market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Steel Processing Market’s Growth:
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As per The
Business Research Company’s Steel Processing Global Market Report 2023, the global
steel processing market size is expected to grow from $674.39 billion in 2022
to $701.38 billion in 2023 at a compound annual growth rate (CAGR) of 4%. The
Russia-Ukraine war disrupted the chances of global economic recovery from the
COVID-19 pandemic, at least in the short term. The war between these two
countries has led to economic sanctions on multiple countries, a surge in
commodity prices, and supply chain disruptions, causing inflation across goods
and services and affecting many markets across the globe. The global steel
processing market size is expected to reach $788.48 billion in 2027 at a CAGR
of 2.9%.
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Tables):
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Technological
advancement is a key trend gaining popularity in the steel processing market.
Major companies operating in the steel processing market are focused on
developing innovative solutions to strengthen their position in the market. For
instance, in October 2022, Metso Outotec, a Finland-based engineering services
company, launched a direct-reduced iron (DRI) smelting furnace to support the
decarbonization of the iron and steel industry. This innovative technology is
primary for steel producers that want to reduce their CO2 emissions
significantly with the slightest modification to other parts of the steel
plant. It will substitute blast furnaces in the production of hot metal. DRI
Smelting Furnace technology offers distinctive benefits such as flexibility for
any DRI feed, high productivity with a capacity above 1.2 million TPA, the
ability to handle enormous slag volumes, and continuous production of hot metal
with high availability and long campaign life.
The steel
processing market is segmented:
1) By Type:
Carbon Steel, Alloy Steel
2) By Shape:
Long, Flat, Tabular
3) By
Application: Construction, Shipping, Energy, Packaging, Consumer Appliances,
Housing, Automotive
Asia-Pacific was
the largest region in the steel processing market in 2022.
The table of contents in TBRC’s steel processing market report includes:
1. Executive Summary
2. Steel Processing Market Characteristics
3. Steel Processing Market Trends And Strategies
4. Steel Processing Market - Macro Economic Scenario
5. Steel Processing Market Size And Growth
.
27. Steel
Processing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Steel Processing Market
29. Steel Processing Market Future Outlook and Potential Analysis
30. Appendix
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with a network of proficient researchers in 28 countries. Through the report
businesses can gain a thorough understanding of the market’s size, growth rate,
major drivers and leading players.
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