How Urban Populations Are Driving The Steel Products Market

Steel Products Market Report 2021: COVID-19 Impact And Recovery To 2030

Steel Products Global Market Report 2021: COVID-19 Impact And Recovery To 2030

The Business Research Company’s Steel Products Global Market Report 2021 – COVID-19 Impact And Recovery To 2030

LONDON, GREATER LONDON, UK, September 22, 2021 / — Rapidly growing urban populations are expected to drive the demand for steel products in the forecast period. A large number of people living in rural areas are migrating to urban areas in search of a better life. This is expected to increase the need for housing and infrastructure. Infrastructure demand is expected to increase significantly in Asian countries such as China, India, Vietnam and the Philippines. According to the 2018 World Urbanization Prospects Report by the United Nations, 55% of the world’s population lived in urban areas in 2018, and the rate is expected to rise to 68% by 2050. According to the World Bank, urban population in South Asia grew by 130 million between 2001 and 2011 and is expected to grow to 250 million by 2030.

The global steel products market size is expected to grow from $356.69 billion in 2020 to $406.40 billion in 2021 at a compound annual growth rate (CAGR) of 13.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $528.35 billion in 2025 at a CAGR of 7%.

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Major players covered in the global steel products industry are ArcelorMittal SA, Nippon Steel & Sumitomo Metal Corporation (NSSMC), POSCO, Baosteel, JFE Steel Corporation.

Asia Pacific was the largest region in the global steel products market, accounting for 63% of the market in 2020. Western Europe was the second largest region accounting for 11% of the global market. Africa was the smallest region in the global steel products market.

TBRC’s global steel products market report is segmented by type into rolled and drawn steel, iron and steel pipe and tube, by application into construction, automotive, energy, packaging, others, by product type into flat steel, long steel, tubular steel, steel pipes, steel tubes.

Steel Products Global Market Report 2021 – By Type (Rolled and Drawn Steel, Iron And Steel Pipe And Tube), By Application (Construction, Automotive, Energy, Packaging), By Product Type (Flat Steel, Long Steel, Tubular Steel, Steel Pipes, Steel Tubes), COVID-19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that provides steel products market overview, forecast steel products market size and growth for the whole market, steel products market segments, and geographies, steel products market trends, steel products market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Here Is A List Of Similar Reports By The Business Research Company:

Metal Global Market Report 2021 – By Type (Iron And Steel Mills And Ferroalloy, Processed Nonferrous Metal, Processed Alumina And Aluminum, Foundries, Steel Products), By End Use (Construction, Manufacturing), COVID-19 Impact and Recovery

Metal And Mineral Manufacturing Global Market Report 2020 – By Type (Mineral Products, Metal Manufacturing, Metal Products)

Iron And Steel Mills And Ferroalloy Global Market Report 2021 – By Type (Ferroalloys, Pig Iron, Crude Steel), COVID-19 Impact And Recovery

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