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Market Size – USD 526.74 Billion in 2020, Market Growth – at a CAGR of 3.6%, Market Trends – Increasing demand from automotive industry

VANCOUVER, BC, CANADA, April 11, 2022 /EINPresswire.com/ -- The global long steel market size is expected to reach USD 701.69 Billion at a steady CAGR of 3.6% in 2028, according to latest analysis by Emergen Research. Increasing global long steel market revenue growth can be attributed to rapid growth of the construction industry due to surging demand due to increasing industrialization and urbanization, particularly in developing countries. Long steel products are used in the construction industry for installations, foundations, and supports required in buildings, as well as for columns, paneling, and walls, among other construction applications. Long steel products such as rebars are highly reliable as structural application materials. Steel rebars are essential in construction of impact-resistant structures for more modernized residential, commercial, and industrial buildings.

Major Players/Manufacturers profiled in the report are:

Nucor Corporation, Gerdau SA, Tata Steel Limited, Steel Dynamics Inc., ArcelorMittal SA, POSCO, Ansteel Group Corporation Limited, Nippon Steel Corporation, Mechel PAO, and Acerinox SA.

Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.

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Some Key Highlights from the Report

In December 2019, Gerdau Aços Longos, which is a subsidiary of Gerdau SA, announced the acquisition of Silat (Siderúrgica Latino Americana), which is a company manufacturing long steel products. The annual manufacturing capacity of Silat is 600,000 tons of products made of long steel, comprising primarily wire rods and rebars.

Wire rods find application mostly for producing wires and deployed in engineering, aviation, and reinforcing concrete structures. For instance, steel wire rods are used in the production of reinforcement cages and to produce round, rectangular, or square assembly clamps. Reinforcing cages are used to reinforce girders, monolithic columns, cross-tops, belts, and lintel strip foundations.

Long steel market in Asia Pacific accounted for fastest revenue share growth in 2020 and trend is expected to continue over the forecast period. This can be attributed to rapid growth in the urbanization trend in countries such as China and India, which is driving steady growth of the construction industry. Additionally, presence of leading companies in the region is supporting market growth.

Deployment of electric arc furnaces for steel production is rapidly gaining traction among steel manufacturing companies. Electric arc furnaces find use for smelting of high-quality steel and various other special steels. The production process enables production of a range of steel grades with low capital outlay, and melting processes can be automated, thereby offering high flexibility and efficiency.

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Emergen Research has segmented the global long steel market on the basis of production process, product type, application, distribution channel, and region:

Production Process Outlook (Revenue, USD Billion; 2018–2028)

Electric Arc Furnace

Basic Oxygen Furnace

Product Type Outlook (Revenue, USD Billion; 2018–2028)

Wire Rod

Rebar

Rail

Merchant Bar

Others

Application Outlook (Revenue, USD Billion; 2018–2028)

Industrial

Construction

Railways

Others

Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)

Direct

Indirect

The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.

Regional Segmentation Covers:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Long Steel market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Long Steel market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.

Key Reasons to Buy This Report:

The report presents a thorough examination of the Long Steel market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.

The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.

The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.

The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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