Global Steel Industry to Follow Strong Growth Trajectory to 2020, States Aruvian’s R’search in New Report Available at MarketPublishers.com
22 Jul 2016 • by Natalie Aster
LONDON – The demand for steel worldwide has kept on increasing notwithstanding the subdued global economy. Whilst the global economic recession posed a challenge to the steel industry with respect to decreasing output, the industry is poised to continue to follow high growth trajectory through to 2020. The sector is facing a key challenge of retaining its profit margins whilst dealing with high input costs and raw material costs.
The steel industry saw the sharpest cutback in economic activity during the economic woes of 2008-2009. By mid-2009, the worldwide steel output had dropped by more than 20%, with plant closures and bankruptcies widely occurring. During the review period, the total steel industry has also seen the rise of China. The country’s steel production grew threefold during 2006-2013, from capturing 34% of total steel production as of 2006 to grabbing nearly half by 2012-end.
Following 2013, the growth of the steel industry remained modest amid China’s slowdown and modest growth in developed markets. In the forthcoming years the market growth is expected to move to the emerging economies, with countries like India, South Korea, Japan, Iran, Taiwan and Mexico likely to become the leading contributors to the industry.
New report “Analyzing the Global Steel Industry 2016” created by Aruvian’s R’search offers an in-depth analysis of the marketplace on a global level. In particular, the study gives an overview of the industry; canvasses the market by value and volume; offers industry segmentation based on geography; casts light on the globalisation and consolidation in the worldwide steel industry; and also presents an analysis of the drivers of the steel industry and sheds light on the industry challenges; provides an industry outlook to 2020. A Porter's five forces analysis is provided, considering the competitive landscape in the industry. The report provides detailed insights into the key country markets, covering value and volume analysis, market segmentation and forecasts. The report includes company profiles of the leading players, considering their businesses, financial situation and a granular SWOT analysis.
More studies by the publisher can be found at Aruvian’s R’search page.