Long Steel Products Industry Key Trends, Opportunities And Top PlayersPosted by Jyoti on January 26th, 2024 ![]() Global long steel products sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book. Steel is a vital industry for global economic growth and long steel products play a crucial role in the development of infrastructure across the globe. It is a key raw material used in producing long products for building & construction and various manufacturing activities. As per the World Steel Association, the total value contribution by the steel industry is USD 2.9 trillion, which is equivalent to 3.8% of global GDP. Steel Rebar Market Growth & Trends
China ranked among the top producers and consumers of steel rebar globally. India follows suit after China, as the second largest consumer of steel rebar. The demand in these countries is primarily driven by investments in construction and infrastructure through government-aided policies to boost development in the region. Wire Rod Market Growth & Trends
Increasing investments in infrastructure development projects and flourishing construction and automotive industries worldwide fuel the global consumption of wire rods. The demand for wire rods is closely linked to the construction sector, which tends to be cyclical and can be affected by factors such as interest rates, government policies, and economic growth. Growing infrastructure investments in the North American region are anticipated to benefit the growth of the market. For instance, under the Infrastructure Development Act passed by the U.S. government, the authorities are estimating that California is likely to receive USD 14.00 billion for rebuilding infrastructures, including water supply, bridges, roads, and communication. Similar investments were announced for other states in the U.S. Steel Sections Market Growth & Trends
Asia Pacific dominated the global steel section market and is expected to continue over the forecast period. The stronghold of the region is attributable to the presence of raw material suppliers, manufacturers, and end-users. Asia-based manufacturers are expanding their production to cater not just to domestic customers but to international demand as well. Order your copy of Free Sample of “Long Steel Products Industry Data Book - Steel Rebar, Carbon Steel Pipe Fittings, Steel Pipes & Tubes and Steel Wire Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research Steel Pipes and Tubes Market Growth & Trends
Asia Pacific emerged as the leading regional market in 2022 and accounted for a revenue share of over 64.7%, owing to the rising product consumption in the region. China, Japan, South Korea, Southeast Asia, and India are the major product consumers in the region owing to the presence of huge manufacturing, petroleum, and petrochemical sectors. The Middle East & Africa are expected to register a growth rate of 1.8% in revenue in the said forecast period. Rising investment in the new oil & gas project is expected to propel the demand for pipes & tubes in the forecast period. Egypt has set its sights on increasing its oil production by 11% in 2023, aiming to reach a daily output of 650,000 barrels compared to the current 587,000 barrels daily. This expansion plan aligns with the commencement of operations in new oil fields and the expansion of existing fields in the Suez Canal region. Competitive Landscape Key players operating in the Long Steel Products Industry are –
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