The report “Long Steel Market by Process (Basic Oxygen Furnace, Electric Arc Furnace), Product Type (Rebar, Merchant Bar, Wire Rod, Rail) End-Use Industry (Construction, Infrastructure, Others), and Region (NA, EUROPE, APAC, MEA, SA) – Global Forecast to 2025″, The long steel market size is estimated to be USD 527.0 billion in 2020 and projected to reach USD 636.7 billion by 2025, at a CAGR of 3.9% from 2020 to 2025. Increasing construction and infrastructure activities, rising population levels, and industrialization are the major factors responsible for the growth of the long steel market. However, the recent outbreak of Covid-19 is expected to have a severe impact on the long steel market.
• 124 Market data Tables
• 48 Figures
• 186 Pages and in-depth TOC on “Long Steel Market – Global Forecast to 2025”
Some of the prominent key players are:
· Arcelor Mittal (Germany)
· Gerdau S.A. (Brazil)
· Nippon Steel & Sumitomo Metal Corporation (Japan)
· POSCO (South Korea)
· Nucor Corporation (US)
The basic oxygen furnace segment is projected to lead the long steel market during the forecast period
In 2019, the basic oxygen furnace accounted for a larger share of the market as compared to the electric arc furnace segment. This large share can be attributed to the advantages of the basic oxygen furnace process, such as high production volume. BOF is adopted by large players in the long steel market.
The rebar segment is projected to lead the long steel market during the forecast period
The rebar segment is expected to account for the largest share of the market during the forecast period. Rebar is mainly used as a reinforcement in steel to increases its tensile strength. The wire rod segment is expected to grow at the highest CAGR during the forecast period, owing to its wide application areas in various end-use industries.
Asia Pacific is projected to be the largest consumer of long steel during the forecast period
Based on region, the long steel market is segregated into Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Among these, the Asia Pacific accounted for the largest share in 2019.
This large share can be attributed to the presence of various global steelmakers such as ArcelorMittal, Nippon Steel and Sumitomo Metal Corporation, Tata Steel, and POSCO Steel in the region. The availability of domestic labor and raw materials at low-cost in the region are other advantages for these companies. Rapidly increasing population and urbanization are also expected to fuel the growth of the market. Asia Pacific is also expected to grow at the highest CAGR during the forecast period.
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