Construction Sector Driving Steel Consumption in United States

Crude steel production in US is projected to grow at a CAGR of 6.6% during 2013-2017, says RNCOS in its research report.


Noida, UP -- (SBWIRE) -- 05/21/2014 -- US steel industry is closely linked to the development of the country as steel has become the essential requirement for all infrastructural constructions. Today, steel has become one of the important and reliable materials in the US construction industry. It is the material of choice for various sections of the construction industry due to its strength, reliability, strong performance, consistency, and versatility in designing. The US architects and engineers increasingly prefer this material over others in the construction of residential and commercial buildings. In 2012, total construction spending increased more than 9% compared to the previous year. With rise in construction activities in the country, this spending is expected to further increase during the coming years.

According to our research report, “US Steel Industry Outlook to 2017”, RNCOS analyst have identified that the US steel industry has been playing an important role in the overall economic development. This can be attributed to the increased production and consumption level in 2012 with respect to the previous year. Further, crude steel production surged around 3% in 2012, while consumption increased more than 8% during the same period. We expect that, the trend will continue in future also due to the increase in consumption from various industrial sectors.

The report has studied the US steel industry in terms of production, consumption, export and import scenario, steel demand analysis, pricing analysis etc. Further, product-wise production and consumption has been discussed including long products, flat products and seamless tubes with forecast till 2017. The report covers the further break up of long products production into concrete reinforcing bars, bars and wire rods and flat products into electrical sheet & strip, tinmill and other metallic coated sheet & strip. In addition, the consumption section in the report covers the consumption by type of product, which represents that flat products account for the major share in total steel consumption in the country. Further, the report covers the finished steel consumption by product including stainless steel sheet or strip, plate, bar, rod and wire.

The report “US Steel Industry Outlook to 2017”, is an outcome of comprehensive research and unbiased analysis of the US steel industry and its various segments to present a clear picture of the past and present market trends. It evaluates the existing market opportunities in relation with the factors driving steel demand. The report also contains information about steel pricing and government stimulus package to bring the industry back on growth track.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.