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Steel Global Industry Guide 2020-2029

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    Report

  • 464 Pages
  • August 2025
  • Region: Global
  • MarketLine
  • ID: 5312167
The Global Steel industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

  • Steel market includes the production of crude steel in the stated country or region. Crude steel production refers to the production of the first solid steel products upon solidification of liquid steel. It includes ingots (in conventional mills) and semis (in modern mills with continuous casting facilities). Crude steel also includes liquid steel, which goes into the production of steel castings.
  • Market volume refers to the production volume. Market value is calculated by multiplying market volume with the production price.
  • All market data and forecasts are based on nominal prices and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates. The USD values may show a declining trend for few countries such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
  • The global steel market recorded revenues of $1.38 trillion in 2024, representing a compound annual growth rate (CAGR) of 4.4% between 2019 and 2024.
  • Market production volume increased with a CAGR of 0.1% between 2019 and 2024, reaching a total of 1.80 billion tonnes in 2024.
  • Asia-Pacific dominated the global steel market, commanding the largest share of 75.9% in 2024, followed by Europe, capturing the second largest share of 13.2%.

Scope

  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global steel market
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global steel market
  • Leading company profiles reveal details of key steel market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the global steel market with five year forecasts by both value and volume

Reasons to Buy

  • What was the size of the global steel market by value in 2024?
  • What will be the size of the global steel market in 2029?
  • What factors are affecting the strength of competition in the global steel market?
  • How has the market performed over the last five years?
  • What are the main segments that make up the global steel market?

Table of Contents

1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Market volume
1.4. Market volume forecast
1.5. Geography segmentation
1.6. Competitive landscape
2 Introduction
2.1. What is this report about?
2.2. Who is the target reader?
2.3. How to use this report
2.4. Definitions
3 Global Steel
3.1. Market Overview
3.2. Market Data
3.3. Market Segmentation
3.4. Market outlook
3.5. Five forces analysis
4 Macroeconomic Indicators
4.1. Country data
5 Steel in Asia-Pacific
5.1. Market Overview
5.2. Market Data
5.3. Market Segmentation
5.4. Market outlook
5.5. Five forces analysis
6 Steel in Europe
6.1. Market Overview
6.2. Market Data
6.3. Market Segmentation
6.4. Market outlook
6.5. Five forces analysis
7 Macroeconomic Indicators
7.1. Country data
8 Steel in France
8.1. Market Overview
8.2. Market Data
8.3. Market Segmentation
8.4. Market outlook
8.5. Five forces analysis
9 Macroeconomic Indicators
9.1. Country data
10 Steel in Germany
10.1. Market Overview
10.2. Market Data
10.3. Market Segmentation
10.4. Market outlook
10.5. Five forces analysis
11 Macroeconomic Indicators
11.1. Country data
12 Steel in Italy
12.1. Market Overview
12.2. Market Data
12.3. Market Segmentation
12.4. Market outlook
12.5. Five forces analysis
13 Macroeconomic Indicators
13.1. Country data
14 Steel in Japan
14.1. Market Overview
14.2. Market Data
14.3. Market Segmentation
14.4. Market outlook
14.5. Five forces analysis
15 Macroeconomic Indicators
15.1. Country data
16 Steel in Australia
16.1. Market Overview
16.2. Market Data
16.3. Market Segmentation
16.4. Market outlook
16.5. Five forces analysis
17 Macroeconomic Indicators
17.1. Country data
18 Steel in Canada
18.1. Market Overview
18.2. Market Data
18.3. Market Segmentation
18.4. Market outlook
18.5. Five forces analysis
19 Macroeconomic Indicators
19.1. Country data
20 Steel in China
20.1. Market Overview
20.2. Market Data
20.3. Market Segmentation
20.4. Market outlook
20.5. Five forces analysis
21 Macroeconomic Indicators
21.1. Country data
22 Steel in The Netherlands
22.1. Market Overview
22.2. Market Data
22.3. Market Segmentation
22.4. Market outlook
22.5. Five forces analysis
23 Macroeconomic Indicators
23.1. Country data
24 Steel in Spain
24.1. Market Overview
24.2. Market Data
24.3. Market Segmentation
24.4. Market outlook
24.5. Five forces analysis
25 Macroeconomic Indicators
25.1. Country data
26 Steel in The United Kingdom
26.1. Market Overview
26.2. Market Data
26.3. Market Segmentation
26.4. Market outlook
26.5. Five forces analysis
27 Macroeconomic Indicators
27.1. Country data
28 Steel in The United States
28.1. Market Overview
28.2. Market Data
28.3. Market Segmentation
28.4. Market outlook
28.5. Five forces analysis
29 Macroeconomic Indicators
29.1. Country data
30 Company Profiles
30.1. China Baowu Steel Group Corp Ltd
30.2. ArcelorMittal SA
30.3. Ansteel Group Corp Ltd
30.4. Nippon Steel Corp
30.5. JSW Steel Ltd
30.6. Tata Steel Ltd
30.7. ThyssenKrupp AG
30.8. Tata Steel Europe Ltd
30.9. Grupo Celsa
30.10. Aperam SA
30.11. Vallourec SA
30.12. Salzgitter AG
30.13. Saarstahl AG
30.14. BlueScope Steel Ltd
30.15. Liberty Steel Group
30.16. Bisalloy Steel Group Ltd
30.17. Gerdau SA
30.18. Companhia Siderurgica Nacional
30.19. Usinas Siderurgicas de Minas Gerais SA
30.20. Stelco Holdings Inc
30.21. Evraz Plc
30.22. HBIS Group Co Ltd
30.23. Jiangsu Shagang Group Co Ltd
30.24. Anshan Iron and Steel Group Co Ltd
30.25. Steel Authority of India Ltd
30.26. Jindal Steel Ltd
30.27. PT Krakatau Steel Persero Tbk
30.28. PT Gunung Raja Paksi Tbk
30.29. PT Steel Pipe Industry of Indonesia Tbk
30.30. Marcegaglia Steel SpA
30.31. Arvedi Group
30.32. Danieli & C. Officine Meccaniche SpA
30.33. JFE Holdings Inc
30.34. Kobe Steel Ltd
30.35. Industrias CH SAB de CV
30.36. Ternium SA
30.37. Altos Hornos de Mexico SAB de CV
30.38. Van Merksteijn International BV
30.39. United States Steel Corp
30.40. Nucor Corp
30.41. Steel Dynamics Inc
30.42. Magnitogorsk Metallurgicheskiy Kombinat
30.43. Severstal
30.44. Novolipetsk Steel
30.45. SSAB AB
30.46. Ovako AB
30.47. Outokumpu Oyj
30.48. BRC Asia Ltd
30.49. NatSteel Holdings Pte. Ltd.
30.50. ArcelorMittal South Africa Ltd
30.51. Evraz Highveld Steel and Vanadium Ltd
30.52. Columbus Stainless (Pty) Ltd
30.53. Scaw South Africa (Pty Ltd)
30.54. POSCO Holdings Inc
30.55. Hyundai Steel Co
30.56. Dongkuk Steel Mill Co Ltd
30.57. KG Dongbu Steel Co Ltd
30.58. Acerinox SA
30.59. Eregli Demir ve Celik Fabrikalari TAS
30.60. Icdas Celik Enerji Tersane ve Ulasim Sanayi AS
30.61. Tosyali Holding AS
30.62. British Steel Ltd
31 Appendix
31.1. Methodology
31.2. About the Publisher
List of Tables
Table 1: Global steel market value: $ million, 2019-24
Table 2: Global steel market volume: thousand tonnes, 2019-24
Table 3: Global steel market geography segmentation: $ million, 2024
Table 4: Global steel market value forecast: $ million, 2024-29
Table 5: Global steel market volume forecast: thousand tonnes, 2024-29
Table 6: Global Size of Population (Million), 2020-24
Table 7: Global Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 8: Global GDP (Current Prices, $ Billion), 2020-24
Table 9: Global Inflation, 2020-24
Table 10: Global Consumer Price Index (Absolute), 2020-24
Table 11: Global Exchange Rate, 2019-24
Table 12: Asia-Pacific steel market value: $ million, 2019-24
Table 13: Asia-Pacific steel market volume: thousand tonnes, 2019-24
Table 14: Asia-Pacific steel market geography segmentation: $ million, 2024
Table 15: Asia-Pacific steel market value forecast: $ million, 2024-29
Table 16: Asia-Pacific steel market volume forecast: thousand tonnes, 2024-29
Table 17: Europe steel market value: $ million, 2019-24
Table 18: Europe steel market volume: thousand tonnes, 2019-24
Table 19: Europe steel market geography segmentation: $ million, 2024
Table 20: Europe steel market value forecast: $ million, 2024-29
Table 21: Europe steel market volume forecast: thousand tonnes, 2024-29
Table 22: Europe Size of Population (Million), 2020-24
Table 23: Europe Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 24: Europe GDP (Current Prices, $ Billion), 2020-24
Table 25: Europe Inflation, 2020-24
Table 26: Europe Consumer Price Index (Absolute), 2020-24
Table 27: Europe Exchange Rate, 2019-24
Table 28: France steel market value: $ million, 2019-24
Table 29: France steel market volume: thousand tonnes, 2019-24
Table 30: France steel market geography segmentation: $ million, 2024
Table 31: France steel market value forecast: $ million, 2024-29
Table 32: France steel market volume forecast: thousand tonnes, 2024-29
Table 33: France Size of Population (Million), 2020-24
Table 34: France Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 35: France GDP (Current Prices, $ Billion), 2020-24
Table 36: France Inflation, 2020-24
Table 37: France Consumer Price Index (Absolute), 2020-24
Table 38: France Exchange Rate, 2019-24
Table 39: Germany steel market value: $ million, 2019-24
Table 40: Germany steel market volume: thousand tonnes, 2019-24
Table 41: Germany steel market geography segmentation: $ million, 2024
Table 42: Germany steel market value forecast: $ million, 2024-29
Table 43: Germany steel market volume forecast: thousand tonnes, 2024-29
Table 44: Germany Size of Population (Million), 2020-24
Table 45: Germany Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 46: Germany GDP (Current Prices, $ Billion), 2020-24
Table 47: Germany Inflation, 2020-24
Table 48: Germany Consumer Price Index (Absolute), 2020-24
Table 49: Germany Exchange Rate, 2019-24
Table 50: Italy steel market value: $ million, 2019-24
Table 51: Italy steel market volume: thousand tonnes, 2019-24
Table 52: Italy steel market geography segmentation: $ million, 2024
Table 53: Italy steel market value forecast: $ million, 2024-29
Table 54: Italy steel market volume forecast: thousand tonnes, 2024-29
Table 55: Italy Size of Population (Million), 2020-24
Table 56: Italy Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 57: Italy GDP (Current Prices, $ Billion), 2020-24
Table 58: Italy Inflation, 2020-24
Table 59: Italy Consumer Price Index (Absolute), 2020-24
Table 60: Italy Exchange Rate, 2019-24
Table 61: Japan steel market value: $ million, 2019-24
Table 62: Japan steel market volume: thousand tonnes, 2019-24
Table 63: Japan steel market geography segmentation: $ million, 2024
Table 64: Japan steel market value forecast: $ million, 2024-29
Table 65: Japan steel market volume forecast: thousand tonnes, 2024-29
Table 66: Japan Size of Population (Million), 2020-24
Table 67: Japan Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 68: Japan GDP (Current Prices, $ Billion), 2020-24
Table 69: Japan Inflation, 2020-24
Table 70: Japan Consumer Price Index (Absolute), 2020-24
Table 71: Japan Exchange Rate, 2019-24
Table 72: Australia steel market value: $ million, 2019-24
Table 73: Australia steel market volume: thousand tonnes, 2019-24
Table 74: Australia steel market geography segmentation: $ million, 2024
Table 75: Australia steel market value forecast: $ million, 2024-29
Table 76: Australia steel market volume forecast: thousand tonnes, 2024-29
Table 77: Australia Size of Population (Million), 2020-24
Table 78: Australia Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 79: Australia GDP (Current Prices, $ Billion), 2020-24
Table 80: Australia Inflation, 2020-24
Table 81: Australia Consumer Price Index (Absolute), 2020-24
Table 82: Australia Exchange Rate, 2019-24
Table 83: Canada steel market value: $ million, 2019-24
Table 84: Canada steel market volume: thousand tonnes, 2019-24
Table 85: Canada steel market geography segmentation: $ million, 2024
Table 86: Canada steel market value forecast: $ million, 2024-29
Table 87: Canada steel market volume forecast: thousand tonnes, 2024-29
Table 88: Canada Size of Population (Million), 2020-24
Table 89: Canada Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 90: Canada GDP (Current Prices, $ Billion), 2020-24
Table 91: Canada Inflation, 2020-24
Table 92: Canada Consumer Price Index (Absolute), 2020-24
Table 93: Canada Exchange Rate, 2019-24
Table 94: China steel market value: $ million, 2019-24
Table 95: China steel market volume: thousand tonnes, 2019-24
Table 96: China steel market geography segmentation: $ million, 2024
Table 97: China steel market value forecast: $ million, 2024-29
Table 98: China steel market volume forecast: thousand tonnes, 2024-29
Table 99: China Size of Population (Million), 2020-24
Table 100: China Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 101: China GDP (Current Prices, $ Billion), 2020-24
Table 102: China Inflation, 2020-24
Table 103: China Consumer Price Index (Absolute), 2020-24
Table 104: China Exchange Rate, 2019-24
List of Figures
Figure 1: Global steel market value: $ million, 2019-24
Figure 2: Global steel market volume: thousand tonnes, 2019-24
Figure 3: Global steel market geography segmentation: % share, by value, 2024
Figure 4: Global steel market value forecast: $ million, 2024-29
Figure 5: Global steel market volume forecast: thousand tonnes, 2024-29
Figure 6: Forces driving competition in the global steel market, 2024
Figure 7: Drivers of buyer power in the global steel market, 2024
Figure 8: Drivers of supplier power in the global steel market, 2024
Figure 9: Factors influencing the likelihood of new entrants in the global steel market, 2024
Figure 10: Factors influencing the threat of substitutes in the global steel market, 2024
Figure 11: Drivers of degree of rivalry in the global steel market, 2024
Figure 12: Asia-Pacific steel market value: $ million, 2019-24
Figure 13: Asia-Pacific steel market volume: thousand tonnes, 2019-24
Figure 14: Asia-Pacific steel market geography segmentation: % share, by value, 2024
Figure 15: Asia-Pacific steel market value forecast: $ million, 2024-29
Figure 16: Asia-Pacific steel market volume forecast: thousand tonnes, 2024-29
Figure 17: Forces driving competition in the steel market in Asia-Pacific, 2024
Figure 18: Drivers of buyer power in the steel market in Asia-Pacific, 2024
Figure 19: Drivers of supplier power in the steel market in Asia-Pacific, 2024
Figure 20: Factors influencing the likelihood of new entrants in the steel market in Asia-Pacific, 2024
Figure 21: Factors influencing the threat of substitutes in the steel market in Asia-Pacific, 2024
Figure 22: Drivers of degree of rivalry in the steel market in Asia-Pacific, 2024
Figure 23: Europe steel market value: $ million, 2019-24
Figure 24: Europe steel market volume: thousand tonnes, 2019-24
Figure 25: Europe steel market geography segmentation: % share, by value, 2024
Figure 26: Europe steel market value forecast: $ million, 2024-29
Figure 27: Europe steel market volume forecast: thousand tonnes, 2024-29
Figure 28: Forces driving competition in the steel market in Europe, 2024
Figure 29: Drivers of buyer power in the steel market in Europe, 2024
Figure 30: Drivers of supplier power in the steel market in Europe, 2024
Figure 31: Factors influencing the likelihood of new entrants in the steel market in Europe, 2024
Figure 32: Factors influencing the threat of substitutes in the steel market in Europe, 2024
Figure 33: Drivers of degree of rivalry in the steel market in Europe, 2024
Figure 34: France steel market value: $ million, 2019-24
Figure 35: France steel market volume: thousand tonnes, 2019-24
Figure 36: France steel market geography segmentation: % share, by value, 2024
Figure 37: France steel market value forecast: $ million, 2024-29
Figure 38: France steel market volume forecast: thousand tonnes, 2024-29
Figure 39: Forces driving competition in the steel market in France, 2024
Figure 40: Drivers of buyer power in the steel market in France, 2024
Figure 41: Drivers of supplier power in the steel market in France, 2024
Figure 42: Factors influencing the likelihood of new entrants in the steel market in France, 2024
Figure 43: Factors influencing the threat of substitutes in the steel market in France, 2024
Figure 44: Drivers of degree of rivalry in the steel market in France, 2024
Figure 45: Germany steel market value: $ million, 2019-24
Figure 46: Germany steel market volume: thousand tonnes, 2019-24
Figure 47: Germany steel market geography segmentation: % share, by value, 2024
Figure 48: Germany steel market value forecast: $ million, 2024-29
Figure 49: Germany steel market volume forecast: thousand tonnes, 2024-29
Figure 50: Forces driving competition in the steel market in Germany, 2024
Figure 51: Drivers of buyer power in the steel market in Germany, 2024
Figure 52: Drivers of supplier power in the steel market in Germany, 2024
Figure 53: Factors influencing the likelihood of new entrants in the steel market in Germany, 2024
Figure 54: Factors influencing the threat of substitutes in the steel market in Germany, 2024
Figure 55: Drivers of degree of rivalry in the steel market in Germany, 2024
Figure 56: Italy steel market value: $ million, 2019-24
Figure 57: Italy steel market volume: thousand tonnes, 2019-24
Figure 58: Italy steel market geography segmentation: % share, by value, 2024
Figure 59: Italy steel market value forecast: $ million, 2024-29
Figure 60: Italy steel market volume forecast: thousand tonnes, 2024-29
Figure 61: Forces driving competition in the steel market in Italy, 2024
Figure 62: Drivers of buyer power in the steel market in Italy, 2024
Figure 63: Drivers of supplier power in the steel market in Italy, 2024
Figure 64: Factors influencing the likelihood of new entrants in the steel market in Italy, 2024
Figure 65: Factors influencing the threat of substitutes in the steel market in Italy, 2024
Figure 66: Drivers of degree of rivalry in the steel market in Italy, 2024
Figure 67: Japan steel market value: $ million, 2019-24
Figure 68: Japan steel market volume: thousand tonnes, 2019-24
Figure 69: Japan steel market geography segmentation: % share, by value, 2024
Figure 70: Japan steel market value forecast: $ million, 2024-29
Figure 71: Japan steel market volume forecast: thousand tonnes, 2024-29
Figure 72: Forces driving competition in the steel market in Japan, 2024
Figure 73: Drivers of buyer power in the steel market in Japan, 2024
Figure 74: Drivers of supplier power in the steel market in Japan, 2024
Figure 75: Factors influencing the likelihood of new entrants in the steel market in Japan, 2024
Figure 76: Factors influencing the threat of substitutes in the steel market in Japan, 2024
Figure 77: Drivers of degree of rivalry in the steel market in Japan, 2024
Figure 78: Australia steel market value: $ million, 2019-24
Figure 79: Australia steel market volume: thousand tonnes, 2019-24
Figure 80: Australia steel market geography segmentation: % share, by value, 2024
Figure 81: Australia steel market value forecast: $ million, 2024-29
Figure 82: Australia steel market volume forecast: thousand tonnes, 2024-29
Figure 83: Forces driving competition in the steel market in Australia, 2024
Figure 84: Drivers of buyer power in the steel market in Australia, 2024
Figure 85: Drivers of supplier power in the steel market in Australia, 2024
Figure 86: Factors influencing the likelihood of new entrants in the steel market in Australia, 2024
Figure 87: Factors influencing the threat of substitutes in the steel market in Australia, 2024
Figure 88: Drivers of degree of rivalry in the steel market in Australia, 2024
Figure 89: Canada steel market value: $ million, 2019-24
Figure 90: Canada steel market volume: thousand tonnes, 2019-24
Figure 91: Canada steel market geography segmentation: % share, by value, 2024
Figure 92: Canada steel market value forecast: $ million, 2024-29
Figure 93: Canada steel market volume forecast: thousand tonnes, 2024-29
Figure 94: Forces driving competition in the steel market in Canada, 2024
Figure 95: Drivers of buyer power in the steel market in Canada, 2024
Figure 96: Drivers of supplier power in the steel market in Canada, 2024
Figure 97: Factors influencing the likelihood of new entrants in the steel market in Canada, 2024
Figure 98: Factors influencing the threat of substitutes in the steel market in Canada, 2024
Figure 99: Drivers of degree of rivalry in the steel market in Canada, 2024
Figure 100: China steel market value: $ million, 2019-24
Figure 101: China steel market volume: thousand tonnes, 2019-24
Figure 102: China steel market geography segmentation: % share, by value, 2024
Figure 103: China steel market value forecast: $ million, 2024-29
Figure 104: China steel market volume forecast: thousand tonnes, 2024-29

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Acerinox SA
  • Altos Hornos de Mexico SAB de CV
  • Anshan Iron and Steel Group Co Ltd
  • Ansteel Group Corp Ltd
  • Aperam SA
  • ArcelorMittal SA
  • ArcelorMittal South Africa Ltd
  • Arvedi Group
  • Bisalloy Steel Group Ltd
  • BlueScope Steel Ltd
  • BRC Asia Ltd
  • British Steel Ltd
  • China Baowu Steel Group Corp Ltd
  • Columbus Stainless (Pty) Ltd
  • Companhia Siderurgica Nacional
  • Danieli & C. Officine Meccaniche SpA
  • Dongkuk Steel Mill Co Ltd
  • Eregli Demir ve Celik Fabrikalari TAS
  • Evraz Highveld Steel and Vanadium Ltd
  • Evraz Plc
  • Gerdau SA
  • Grupo Celsa
  • HBIS Group Co Ltd
  • Hyundai Steel Co
  • Icdas Celik Enerji Tersane ve Ulasim Sanayi AS
  • Industrias CH SAB de CV
  • JFE Holdings Inc
  • Jiangsu Shagang Group Co Ltd
  • Jindal Steel Ltd
  • JSW Steel Ltd
  • KG Dongbu Steel Co Ltd
  • Kobe Steel Ltd
  • Liberty Steel Group
  • Magnitogorsk Metallurgicheskiy Kombinat
  • Marcegaglia Steel SpA
  • NatSteel Holdings Pte. Ltd.
  • Nippon Steel Corp
  • Novolipetsk Steel
  • Nucor Corp
  • Outokumpu Oyj
  • Ovako AB
  • POSCO Holdings Inc
  • PT Gunung Raja Paksi Tbk
  • PT Krakatau Steel Persero Tbk
  • PT Steel Pipe Industry of Indonesia Tbk
  • Saarstahl AG
  • Salzgitter AG
  • Scaw South Africa (Pty Ltd)
  • Severstal
  • SSAB AB
  • Steel Authority of India Ltd
  • Steel Dynamics Inc
  • Stelco Holdings Inc
  • Tata Steel Europe Ltd
  • Tata Steel Ltd
  • Ternium SA
  • ThyssenKrupp AG
  • Tosyali Holding AS
  • United States Steel Corp
  • Usinas Siderurgicas de Minas Gerais SA
  • Vallourec SA
  • Van Merksteijn International BV