Steel Industry Market to Grow Steadily at a CAGR of Around 2% Steel Industry Market 2015-2019

Steel Industry Market to Grow Steadily at a CAGR of Around 2%
During the Forecast Period 2015-2019: Radiant Insights, Inc
Overview of the steel industry
The global steel industry to grow steadily at a CAGR of around 2%, in terms of consumption volume,
during the forecast period. The growth of end-user industries such as automotive, mechanical machinery,
and infrastructure and construction is fueling the demand for steel. The infrastructure and construction
sector, which accounts for more than 52% of the world's steel consumption, is expected to grow at a rate
of around 8% by the end of 2020.
The rapid growth of developing economies such as India is also expected to contribute to the market
growth during the forecast period. Around 63% of the demand in India is catered by the coal-intensive
blast furnaces. The Indian government has banned iron ore, to fight against illegal mining, which is
expected to reduce the domestic supply.
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Segmentation by type and analysis of the steel industry
• Carbon steel
• Alloy steel
• Stainless steel
Alloy steel contains metals such as silicon, manganese, copper, aluminum, titanium, chromium, and
nickel in varying proportions in order to manipulate the steel's properties. This type of steel is used in
electric motors, transformers, power generators, pipelines, and auto parts.

Segmentation by end users and analysis of the steel industry
• Infrastructure and construction
• Mechanical machinery
• Automotive industry
• Others (electrical equipment, domestic appliances, and transportation)
Infrastructure and construction contributed 52% of the global market revenue during 2014 and is expected
to retain its market leadership until the end of 2019. Steel-intensive infrastructure such as roads, rail,
ports, airports, and power sector is driving the growth of the steel industry in this segment.