DUBLIN, September 21, 2021--(BUSINESS WIRE)--The "Long Steel Market by Process Type, Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global long steel market was valued at $476,213 million in 2020, and is projected to reach $731,934 million by 2030, registering a CAGR of 4.1% from 2021 to 2030. Long steel is a phrase used to describe goods manufactured from billets and blooms that are mostly utilized in the construction industry. Typically, they are produced in electric arc furnaces. Rebar, wire rod, merchant bars, rails, and sections are examples of long steel items.
Factors such as rapid rise in urbanization and infrastructure projects like railways and bridges where high-strength long steel is required drives the market growth. However, the fluctuation in price of raw materials is expected to hamper the market growth. Furthermore, emergence in value added rebar products and increase in investments in infrastructure activities are anticipated to provide growth opportunity for the long steel market in coming years.
Furthermore, companies are expanding their investments in infrastructure, which will provide growth in the market in the forecast period. For instance, in March 2021, Nucor Corporation has built new tube mill in Steel Gallatin Sheet mill in Kentucky, which will allow company to take advantage of investments and has made to expand production capacity and add galvanizing line.
The long steel market is segmented on the basis of process, product type, application, and region. By process, the market is divided into basic oxygen furnace and electric arc furnace. By product type, it is segmented into rebar, wire rod, merchant bar, and others. By application, it is divided into construction, industrial, and others.
Region wise, the long steel market analysis is conducted across the North America (U.S., Canada, and Mexico), Europe (Germany, Russia, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The report provides an extensive analysis of the current and emerging long steel market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2030.
Extensive analysis of the long steel market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The global long steel market forecast analysis from 2021 to 2030 is included in the report.
The key market players within long steel market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the long steel industry.
Rise in number of industrial infrastructure projects in developing countries
Increase in residential construction activities around the globe
Recovery in the non-residential construction industry
Fluctuations in price of raw material
Increase in focus on public-private partnerships in emerging countries
High growth potential in emerging economies
Baowu Steel Group Corporation Limited
HeSteel Group Company Limited
Hyundai Steel Co. Ltd
Nippon Steel Corporation
For more information about this report visit https://www.researchandmarkets.com/r/d6kj94
View source version on businesswire.com: https://www.businesswire.com/news/home/20210921005968/en/
Laura Wood, Senior Press Manager
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