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Exploring Export Opportunities in the Long Steel Products Industry 2023-2030

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Long Steel Products Industry | Forecast 2030

Long Steel Products Industry Data Book – Steel Rebar, Carbon Steel Pipe Fittings, Steel Pipes & Tubes and Steel Wire Market

The global Long Steel Products Industry was estimated at USD 469.8 billion in 2019 and is anticipated to increase at a CAGR of 5.5% from 2020 to 2027

Grand View Research’s Long steel products industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.

 

Steel Rebar Market Insights

The global steel rebar market size was valued at USD 270.18 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The market is anticipated to be driven by the rising investments in infrastructure development projects and construction activities. Government spending on propelling supporting infrastructural developments to boost economic growth is anticipated to benefit the market growth. For instance, in 2021, the Chinese government allocated USD 573 billion as special-purpose bonds (SPBs) to its local governments for rebuilding the country’s infrastructure. Of the funds raised through issuing SPBs, 50% were used for the industrial park and transport infrastructure development.

The global steel rebar market based on application and region: Construction dominated the market in 2021 with a revenue share of more than 55.0% and this trend is expected to continue during the forecast period. Various investments in the construction industry are projected to augment segment growth. For instance, in April 2022, Alliance Group, a leading real estate developer, announced to an investment of USD 1.12 billion for its residential construction projects in Hyderabad, Chennai, and Bengaluru, India.

 

Order your copy of the Free Sample of “Long Steel Products Industry Data Book – Steel Rebar, Carbon Steel Pipe Fittings, Steel Pipes & Tubes and Steel Wire Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

 

Carbon Steel Pipe Fittings Market Insights

The global carbon steel pipe fittings market size was valued at USD 6.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. The rising need to transport and store the materials in oil & gas, and petrochemicals industries are expected to assist the market growth.

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The ability of carbon steel pipe fittings to withstand demanding environmental conditions such as heat and steams makes them a suitable choice over other materials. In some applications, piping systems need to transport the gas at a very low temperature, wherein brittleness and cracks can create challenges. In such applications, carbon steel pipe fittings are needed to meet the demanding requirements. These fittings are also economical and are popular owing to wide applications such as sewage, municipal, and transport of water, oil, and gas in numerous industries.

The carbon steel pipe fittings market based on application, and region: The oil & gas segment accounted for the largest revenue share of nearly 50.0% in 2021. The segment is projected to grow on account of rising investments in the oil & gas industry. For instance, China Petroleum & Chemical Corp is planning to invest USD 31.00 billion for upstream exploration in Sichuan and Mongolia regions. The company aims to expand its footprint in natural gas, refined oil, and petrochemical products.


Steel Pipes & Tubes Market Insights

The global steel pipes & tubes market size was valued at USD 142.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027. Increasing oil & gas production owing to the demand from the transportation industry is one of the prominent growth drivers for the market. The oil & gas industry is the major consumer segment for steel pipes & tubes. Steel pipes are used for the transportation of gas & liquid in this industry. They are generally manufactured using low alloy or carbon steel. The inside diameter, ductility, yield strength, and pressure rating are some of the key factors considered while selecting pipes for specific applications. The U.S. oil & gas industry is among the primary end-users for steel pipes and tubes. The product is used in upstream, midstream as well as downstream processing of crude oil. The market is anticipated to register steady growth over the forecast period owing to the developments in the U.S. oil & gas industry.

The global steel pipes & tubes market on the basis of technology, application, and region: In terms of volume, seamless accounted for a market share of over 54% in 2019. Seamless steel products are manufactured from billets that are perforated and heated to create the tubular section. There are no seam welds in such products. Seamless pipes & tubes are used in a variety of sectors including oil & gas, power generation, chemicals & petrochemicals, and engineering.

 

Go through the table of content of Long Steel Products Industry Data Book to get a better understanding of the Coverage & Scope of the study

 

Steel Wire Market Insights

The global steel wire market size was valued at USD 102.98 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. Growing investments in the construction industry are anticipated to augment market growth during the forecast period. Downstream products of steel wires include ropes and strands, which find numerous uses in the construction industry, such as in supporting suspension bridges and as an added reinforcement in towers. These are extensively used in prestressed concrete, which supports floor beams, roofs, runways, tall columns, and high retaining walls.

The global steel wire market based on material, application, and region: Carbon steel dominated the global market in 2021 with a revenue share of over 64.0%, and this trend is anticipated to continue across the forecast period. Both low and high carbon steel is used in making wires, which are primarily used in industries such as construction, automotive, and the military. They can be drawn into a broad diameter range from 0.2 mm to 8 mm.

 

Competitive Insights

The outlook for the long steel product markets has weakened quickly in the last quarter of 2022. Factors responsible for weaker prospectus include higher energy prices, the global economic slowdown, rising inflation and the impacts of the Russia-Ukraine war and sharp decline in the real estate sector, and rising COVID infections. Global crude steel production has declined significantly in 2022 as the demand has contracted at the global level.

The destruction of steel production facilities in Ukraine has led to a collapse in steel production along with rising energy prices and production stoppages, especially in Europe. However, the financial performance of steel companies improved in 2022. Recently steel prices have declined, which is putting pressure on the margins of steel producers due to rising raw material and scrap prices.

 

Company Profiles

  • ArcelorMittal
  • AWAJI MATERIA CO., LTD.
  • Baosteel
  • Bassi Luigi & C.S.p.A
  • Bekaert
  • Delcorte
  • Erne Fittinga GmbH
  • Evraz Plc
  • Gerdau S.A.
  • Henan Hengxing Science & technology Co., Ltd
  • Hyundai Steel
  • JFE Steel Corporation
  • Jindal Steel & Power Ltd. (JSPL)
  • JSW Steel Limited
  • Kobe Steel Limited
  • E.G.A.S.p.A
  • Nippon Steel Corporation
  • NLMK
  • Nucor
  • PARKER HANNFIN CORPORATION
  • Rama Steel Tubes Ltd.
  • S.E. Pipefittings Limited
  • Steel Authority of India Ltd. (SAIL)
  • Tata Steel Group
  • Tianjin Huayuan Metal Wire Products Co.Ltd.
  • United States Steel
  • Wuhan Iron & Steel Corporation

 

Check out more Industry Data Books, published by Grand View Research

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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