US Shale Gas Revolution a Key Booster for US Steel Industry

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) -- 10/06/2014 -- Development of new and innovative technologies leads US natural gas industry a revolutionary growth in recent times. Huge investment in new oil and gas extraction techniques makes the natural gas production cost more efficient. Increasing exploration and production of gas with easier access to new and vast natural gas supplies, has led the US shale gas production soar dramatically since 2007. Huge demand of steel tubes that are used drills, well casing, pipelines and other equipment. Production capacity of pipes and tubes are increased by the manufacturer to grab the market opportunity. Hence increase in natural gas industry drives the US steel industry simultaneously.

The report “US Steel Industry Outlook 2019”, has studied the US steel industry in terms of production, consumption, export and import scenario by the sector; and makes a steel demand analysis along with price analysis and so on. Further, product-wise production and consumption has also been discussed 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 and flat products into electrical sheet & strip, tin mill and other metallic coated sheet & strips. Moreover, the US steel consumption pattern, broken down by type of product, which represents that flat products account for the major share in total steel consumption in the country. Further, the report also provides the consumption of finished steel by product including stainless steel sheet or strip, plate, bar, rod and wire.

Our comprehensive study further includes information based on steel demand analysis in various sectors including construction, automobiles, energy, container, defense and security etc. In addition, the report provides the steel pricing analysis including steel spot prices and average scrap prices. Major market trends and drivers that are prevailing in the US steel industry are also discussed in the report.

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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.