Construction Sector Is Driving Steel Consumption in the US

Crude steel production in US is projected to grow at a CAGR of 6.3 % during 2015-2019, says RNCOS in its latest research report.


Noida, UP -- (SBWIRE) -- 11/14/2014 -- US steel industry is expected to experience a healthy growth with construction sector dominates the overall steel industry. Steel has become one of the most important and reliable materials in the US construction sector due to its strength, performance, and consistency. Further, steel demand from the residential market is also increasing in the US due to high demand created from the home re-roofing. Further, increasing spending on non-residential construction and more commercial spaces further encourage the steel demand in the Kingdom.

According to our report “US Steel Industry Outlook 2019”, US government initiatives towards subsidizing inventory of new homes and development of real-estate contributes the full growth potential of housing construction in the US. Further, government based public-infrastructure works and promotion of commercial infrastructure projects are expected to boost the steel demand in the country. In addition to that, steel demand created from energy and automobile sector further enhances the steel market in the US. It is anticipated that, crude steel production in the US will grow at a CAGR of 6.3% during 2015-2019.

The report provides a comprehensive analysis and unbiased view of the US steel industry in terms of production, consumption, export and import by the sector. Further, product-wise production and consumption has also been discussed in the report, including long products, flat products and seamless tubes with forecast till 2019. This report also provides the further break up of long products production into concrete reinforcing bars, bars, and wire rods. Flat products production further segmented into electrical sheet & strip, tin mill and other metallic coated sheet & strips.

Besides that, the US steel consumption pattern further broken down by type of product, which represents that flat products, accounts the major share in total steel consumption in the country. Further, this report also provides the consumption of finished steel by product including stainless steel sheet or strip, plate, bar, rod and wire. Steel demand analysis from various sectors including construction, automobiles, energy, container, defense and security etc. and steel spot and scrap price are also covered in the report. This report also analyzes the competitive landscape covering business description, key financials, and strength & weakness analysis of major US steel players. Major market trends and drivers that are prevailing in the US steel industry are also discussed in the report. Overall, the report will facilitate clients in analyzing the driving forces and understand the existing opportunities in the US steel industry.

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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.