Iron & Steel Market worth $1,928.6 billion by 2027 – At a CAGR of 3.8%.

According to a market research report, the “Iron & Steel Market by Type (Iron and Steel), Production Technology(Basic Oxygen Furnace, Electric Arc Furnace, Open Hearth and Others), End-use Industry (Construction & Building, Automotive & Transportation, Heavy Industry, Consumer Goods), and Region – Global Forecast to 2027″, is approximated to be USD 1599.4 billion in 2022, and it is projected to reach USD 1,928.6 billion by 2027, at a CAGR of 3.8%.

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This report also provides a comprehensive analysis of the companies listed below:

The Iron & steel market comprises major players such as ArcelorMittal (Luxembourg), Nippon Steel Corporation (Japan), Nucor Corporation(US), China Baowu Steel Group Corporation(China), HBIS Group (China), POSCO(South Korea), Ansteel Group Corporation(China), Tata Steel Limited(India), JSW Steel(India), SAIL(India)and others are covered in the iron & steel market.

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Iron & Steel Market.

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Nucor Corporation manufactures steel and steel products. Steel mills, steel products, and raw materials are its business segments. Carbon and alloy steel in sheets, bars, plates, and others, steel trading operations, rebar distribution businesses, and Nucor’s equity method interests comprise the steel mills segment. Steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating, tubular products businesses, piling products businesses, and wire and wire mesh are all part of the steel products section. The raw materials sector includes direct reduced iron as well as ferrous and nonferrous metals.

Nippon Steel Corporation was formed by the merger of the old Nippon Steel Corporation and Sumitomo Metal Industries Ltd. The company has several business segments, such as steelmaking and steel fabrication, engineering, chemicals, and system solutions. The steelmaking and steel fabrication segment produces and distributes steel sheets, plates, bars and wire rods, pipes and tubes, and machinery parts. The engineering and construction segment develops steel plants, heat management facilities, and industrial machinery and equipment.

The chemicals segment deals with chemical products, carbon materials, and epoxy resin products. The new materials segment manufactures and trades semiconductors, stainless steel foils, silicon carbide wafers, carbon fibers, and metal substrates for catalytic converters. The system solutions segment includes information technology infrastructure services, industry & energy, automotive, and astronomy & aerospace.

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