Steel processing market growing at 2.16 percent CAGR to 2020

RnRMarketResearch.com has released the 256-page report “Steel Processing Market.” The report estimates that the global steel processing market will grow about 2.16 percent for the next five years, propelled by growth in the construction and automotive industries worldwide.

Construction as an end-user segment is expected to dominate the global steel processing market. Carbon steel is projected to have the largest market during the forecast period. Subsequently, long shaped steel will dominate the steel processing market from 2015 to 2020.

The report covers the global steel processing market in North America, Europe, Asia-Pacific, Latin America, and RoW. The segmentation is done on the basis of the shape of steel products: flat steel, long steel, and tubular steel. The other segment includes types of steel (alloy and carbon).

Major companies rely on regional and local distributors to increase their share as well as a geographical presence in the market. One of the major developments observed in the steel processing market is mergers and acquisitions. The requirements of the end users for processed steel is changing continuously, making it essential for the manufacturers to invest continually in R&D. Companies are adopting inorganic growth strategies such as acquisitions to cope with the increasing demand for finished steel in key emerging markets.

With the emergence of new technologies, manufacturers are looking for advanced products to make steel products sustainable. Asia-Pacific would be the largest market for steel processing because of the willingness of companies in the region to take up capital-intensive projects, along with the availability of technical expertise.

The report analyzes various marketing trends and establishes effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, and challenges. Major companies include ArcelorMittal, Nippon Steel & Sumitomo Metal Corp., POSCO, JFE Holdings Inc., Baosteel Group Corp., Tata Steel Ltd., United States Steel, Angang Steel Co. Ltd., Gerdau S.A., and Maanshan Iron & Steel Co. Ltd.

Copies of the report can be purchased at www.rnrmarketresearch.com/contacts/discount?rname=389121.