Steel Processing Market - Global Industry Analysis, Size, Share, Forecast 2016 – 2024
The application of steel and related products is currently increasing in our daily life. Due to its high mechanical properties such as strength, ductility and weldability, steel is widely used in construction of building and rails, automobiles and ships. Steel is produced through combination of iron, alloy and carbon melting together under right proportion. Steel can be classified as alloy and carbon steel according to material properties. Alloy steel have more ductility, toughness and anti-corrosion properties. Carbon steel is harder than alloy steel and becomes harder as amount of carbon is increased during the process.
Steel can be processed through hot rolled and cold rolled method. Hot
rolled steel is produced through heating steel above the
recrystallization temperature of the metal.These help the
manufacturer to produce steel of high malleable properties which can
be used to form steel of different shape and size.
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Cold rolled steel is produced at normal room temperature followed by
annealing process. These help cold rolled steel to have high tensile
strength, turning, corrosion resistant and polishing properties. Cold
rolled steel have smooth surfaces and can be used for automotive and
electronic applications. Cold rolled steel is preferred for vehicle
body manufacturing due to smooth surface.
Steels can be classified as flat steel, long steel and tubular steel
depending upon product type. Flat steel finds its application in
automotive, heavy machinery, packaging and construction. Long steel
include wire rods, rebars and blooms which are used in railways,
constructions and energy. Tubular steel are consist of rods and pipes
which are used for construction building and bridges.
Steels are basically produced near mining area in form of batches.
Later, according to the requirement of the customer, the manufacturer
cuts the steel to the length and width in a steel processing center.
Therefore, large steel manufacturers have setup steel processing
centers in different parts of the world to cater their customers.
Steel is transported to the processing center as per the requirement
from steel plants. Thus, steel is produced in advance in a steel
plant and stored in the warehouse. Although, due to volatile market
environment, the demand of steel from customer decreases which
affects the manufacturer inventory. Therefore, manufacturers are
finding new ways to overcome these challenge and thereby reduce
inventory cost. The market is dominated by regional players to cater
the growing demand of consumers. However, the quality of regional
player steel varies compared to international steel manufacturers. In
recent years, steel processing industry have seen some major
acquisitions and mergers by global players in order to expand their
market.
The demand for steel is expected to increase in North America and
Asia Pacific region in coming years. Most of the European steel
manufacturers have setup these plants in Asia Pacific region due to
low production cost and availability of cheap labor. The application
of steel is expected to increase in construction, shipping,
transportation, automotive, packaging, energy and heavy machinery
equipment manufacturing.
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Some of the leading steel processing manufacturers are Steel
Authority of India Limited, ThyssenKrupp AG, Jiangsu Shagang Group
Company Limited, Severstal PAO, Hebei Iron & Steel Co Ltd,
Hyundai Steel Co., Bridon International Ltd, Kobe Steel, Ltd.,
Maanshan Iron & Steel Company Limited, Tata Steel Ltd, United
States Steel, ArcelorMittal S.A., POSCO, Nippon Steel & Sumitomo
Metal Corporation, JFE Holdings, Inc., Angang Steel Company Limited,
Shanghai Baosteel Group Co and Gerdau S.A.
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