2023 Steel Processing Market Report : Market Size, Growth Drivers, And Key Trends | Tata Steel Limited, Ansteel Group Corporation Limited, HBIS Group, JFE Holdings Inc., Shandong Iron And Steel Group Co Ltd

The Steel Processing Global Market Report 2023, provides comprehensive information on the steel processing market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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As per The Business Research Company’s Steel Processing Global Market Report 2023, the global steel processing market size is expected to grow from $674.39 billion in 2022 to $701.38 billion in 2023 at a compound annual growth rate (CAGR) of 4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global steel processing market size is expected to reach $788.48 billion in 2027 at a CAGR of 2.9%.

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Technological advancement is a key trend gaining popularity in the steel processing market. Major companies operating in the steel processing market are focused on developing innovative solutions to strengthen their position in the market. For instance, in October 2022, Metso Outotec, a Finland-based engineering services company, launched a direct-reduced iron (DRI) smelting furnace to support the decarbonization of the iron and steel industry. This innovative technology is primary for steel producers that want to reduce their CO2 emissions significantly with the slightest modification to other parts of the steel plant. It will substitute blast furnaces in the production of hot metal. DRI Smelting Furnace technology offers distinctive benefits such as flexibility for any DRI feed, high productivity with a capacity above 1.2 million TPA, the ability to handle enormous slag volumes, and continuous production of hot metal with high availability and long campaign life.

The steel processing market is segmented:

1) By Type: Carbon Steel, Alloy Steel

2) By Shape: Long, Flat, Tabular

3) By Application: Construction, Shipping, Energy, Packaging, Consumer Appliances, Housing, Automotive

Asia-Pacific was the largest region in the steel processing market in 2022.

The table of contents in TBRC’s steel processing market report includes:

1. Executive Summary
2. Steel Processing Market Characteristics
3. Steel Processing Market Trends And Strategies
4. Steel Processing Market – Macro Economic Scenario
5. Steel Processing Market Size And Growth

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27. Steel Processing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Steel Processing Market
29. Steel Processing Market Future Outlook and Potential Analysis
30. Appendix

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