Stainless Steel Products Consumption Driving US Steel Industry

US apparent steel consumption is projected to grow at a CAGR of 6% during 2012-2015, says RNCOS in its latest research report


Noida, UP -- (SBWIRE) -- 12/16/2013 -- The US steel industry is one of the world's largest steel industries, both in terms of production and consumption. Today, steel has become one of the most important and reliable materials in various industries in the country. Therefore, stainless steel consumption has been rising continuously in the country. Stainless steel products are used in a wide variety of applications including consumer goods, architecture, building and construction, food & beverage industry, transportation, chemical, petrochemical, oil & gas, pulp & paper industries, and power generation. Moreover, it is expected that stainless steel consumption will increase further in future with rising demand in various sectors.

According to our new research report, “US Steel Industry Outlook to 2015”, 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 2011 with respect to the previous year. Further, apparent steel consumption in the country is projected to grow at a CAGR of 6% during 2012-2015. The consumption section in the report covers the consumption by type of product, which represents that long products account for a major share in total steel consumption in the country. Further, the report covers information about the finished steel consumption by product including stainless steel sheet or strip, plate, bar, rod and wire.

As per our research, continuous cast steel process accounts for major steel production in the US. Product-wise, flat products production accounts for a major share in total steel production, followed by long products and seamless tubes. Our report covers 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.

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

The report has also presented projections for steel demand across different vertical industries to provide a rough idea about the direction, in which, the steel industry is likely to move in future. The competitive landscape segment mainly focuses on key industry players and provides valuable information about their business description together with financial analysis.

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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.