Pune -, Maharashtra, India -- (SBWIRE) -- 12/16/2019 -- Market Research Future Has Published a Half-Cooked Research Report on the Steel Products Market Research Report - Global Forecast Till 2025

Market Overview and Growth Factors:
Steel Products Market is expected to register a CAGR of ~2.5%. In terms of volume, the market was pegged at 1,800 million metric tons in 2018. Urbanization and industrialization are two major fasctors that can ensure better growth for the global Steel Products market. These two factors are spurring growth for construction, automotive, electrical & electronics, shipbuilding, defense, aerospace, and other industries.

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The steel products market is expected to witness moderate growth during the forecast period owing to the healthy growth of various end-use industries, including automotive, electrical & electronics, construction, oil & gas, and shipbuilding. With the growing population, urbanization, and rapid industrialization along with economic growth in developed as well as developing countries is expected to support the growth of the global steel products market during the forecast period.

Leading Players:
These companies are:
Shangang Group (China),
ArcelorMittal (Luxembourg),
POSCO (South Korea),
HBIS Group (China),
NSSMC Group (Japan),
China Baowu Group (China),
Hyundai Steel Company (South Korea),
Tata Steel Group (India),
Nucor Corporation (US),
JIANLONG GROUP (China),
China Steel Corporation (Taiwan),
Thyssenkrup (Germany),
Maanshan Steel (China),
JSW Steel Limited (India).

Segment Analysis:
The Steel product types analyzed under the scope of the steel products market are structural steel, iron steel wire, ingots and semi-finished material, bars and rods, tubes and pipes, castings & forgings, plates & sheets, and others. The structural steel segment is expected to hold a dominant share of the global steel products market owing to increasing demand in the construction industry across the globe. Tubes & pipes casting & forgings segments are expected to witness healthy growth due to the increasing demand in the oil & gas and automotive industries.

The end-use industries of steel products are construction, automotive, oil & gas, shipbuilding, mechanical equipment, electrical appliances, domestic appliances, and others. The construction segment accounted for over half of the global steel products market in 2018 and is expected to witness moderate growth driving the global market owing to increasing residential construction activities and infrastructure development. The automotive is expected to be the second-largest segment for steel products and is expected to be the fastest-growing during the forecast period. The high growth of the segment is attributed to increasing automobile production in countries such as China, India, Brazil, the US, and ASEAN.

Browse key industry insights spread across 140 pages with 35 market data tables & 10 figures & charts from the report, "Steel Products Market: Information by Product Type (Structural Steel, Iron Steel Wire, Ingots and Semi-Finished Material, Bars and Rods, Tubes and Pipes, Castings & Forgings, Plates & Sheets and others), End-Use Industry (Construction, Automotive, Oil & Gas, Shipbuilding, Mechanical Equipment, Electrical Appliances, Domestic Appliances and others) and Region (North America, Europe, Latin America, Asia-Pacific and Middle East & Africa) - Forecast till 2025" in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/steel-products-market-8240

Regional Analysis:
The regional segmentation of the global Steel Products market names the Asia Pacific region as the highest contributor. The region is benefiting the most from the presence of several top market players who are contributing notably to the regional growth. India and China are the major contributors and their market is getting backed by high-level of construction activities going on in the market. Asia-Pacific is expected to dominate the global Steel Products market in terms of both production and consumption led by China and India. This is also going to be backed by the increasing participation of the automotive manufacturers across several regions. China's production of steel-related products is going to impact the regional market the most. China is expected to account for over half of the Steel Products market in Asia-Pacific and is expected to further witness growth as the economic condition of the region is becoming stable and the booming automotive production is set to spur the growth in the coming years.