The iron and steel mills and ferroalloy market size has grown steadily in recent years. It will grow from $1.04 trillion in 2025 to $1.08 trillion in 2026 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to growing demand from automotive industry, expansion of construction and infrastructure projects, rise in heavy machinery production, increasing steel consumption in oil and gas, growth of manufacturing sector.
The iron and steel mills and ferroalloy market size is expected to see steady growth in the next few years. It will grow to $1.3 trillion in 2030 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to adoption of sustainable steelmaking practices, rising demand for alloy and stainless steel, expansion in automotive and machinery sectors, development of advanced ferroalloys, increasing use of digital and automated steel production technologies. Major trends in the forecast period include adoption of electric arc furnace technology, integration of automation in steel mills, use of high-performance ferroalloys, energy-efficient and eco-friendly steel production, expansion of crude steel and pig iron production capacities.
Growth in air travel is anticipated to drive the expansion of the iron and steel mills and ferroalloy market in the coming years. Air travel involves the transport of passengers and cargo via commercial and private aircraft on domestic and international routes. The increase in air travel is being fueled by rising global passenger demand as economic activity and mobility rebound post-pandemic. The iron and steel mills and ferroalloy market supports this growth by providing high-strength metals and ferroalloys used in aircraft components, including structures, engines, landing gear, and airport infrastructure. For example, in January 2025, the International Air Transport Association (IATA), a Canada-based global airline industry association, reported that global air passenger traffic increased by 10.4% in 2024 compared to 2023, surpassing pre-pandemic levels and reflecting strong year-over-year growth in air travel demand. Consequently, the growth in air travel is expected to propel the expansion of the iron and steel mills and ferroalloy market.
Major companies operating in the iron and steel mills and ferroalloy market are focusing on developing advanced technologies such as blast furnaces to serve larger customer bases, boost sales, and enhance revenue. A blast furnace is a type of metallurgical furnace used for smelting to produce industrial metals, primarily pig iron, but also metals like lead or copper. For example, in September 2023, Ulanhot Steel, a China-based steel manufacturer, commissioned a new blast furnace at a manufacturing plant in Northern China. This furnace features the capability to produce 1.13 million tons of iron annually with a capacity of 1.2 thousand cubic meters. Additionally, a unit for utilizing gases in pig iron production was installed at the plant along with the new blast furnace.
In June 2025, Nippon Steel Corporation, a Japan-based producer of integrated steel products with capabilities spanning crude steel, high-grade steel, and specialty steel solutions, acquired United States Steel Corporation for an undisclosed amount. Through this acquisition, Nippon Steel substantially increased its global presence and production capacity, establishing itself as one of the world’s largest integrated steelmakers while improving access to the North American market and downstream steel-making capabilities. United States Steel Corporation is a US-based integrated steel producer supplying flat-rolled and tubular steel products to the automotive, construction, appliance, and other industrial sectors.
Major companies operating in the iron and steel mills and ferroalloy market report are POSCO, ArcelorMittal S.A., Nippon Steel & Sumitomo Metal Corporation, Tata Steel Group, Nucor Corp, JFE Holdings, Inc., Gerdau S.A., Hyundai Steel Company, Maanshan Iron and Steel Company Limited, Thyssenkrupp AG, Baoshan Iron & Steel Co. Ltd, Kobe Steel Limited, China Baowu Steel Group, Novolipetsk Steel (NLMK), Evraz, Magnitogorsk Iron and Steel Works, Severstal, Metalloinvest, Mechel, United States Steel Corporation, Cleveland-Cliffs, Algoma Steel Inc., Ternium S.A., Aperam, Companhia Siderúrgica Nacional.
Asia-Pacific was the largest region in the steel mills and ferroalloy market in 2025. Western Europe was the second-largest region in the iron and steel mills and ferroalloy market. The regions covered in the iron and steel mills and ferroalloy market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the iron and steel mills and ferroalloy market are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The iron and steel mills and ferroalloy market consists of sales of steel scrap, carbon steel, and sinter steel. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
The iron and steel mills and ferroalloy market size is expected to see steady growth in the next few years. It will grow to $1.3 trillion in 2030 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to adoption of sustainable steelmaking practices, rising demand for alloy and stainless steel, expansion in automotive and machinery sectors, development of advanced ferroalloys, increasing use of digital and automated steel production technologies. Major trends in the forecast period include adoption of electric arc furnace technology, integration of automation in steel mills, use of high-performance ferroalloys, energy-efficient and eco-friendly steel production, expansion of crude steel and pig iron production capacities.
Growth in air travel is anticipated to drive the expansion of the iron and steel mills and ferroalloy market in the coming years. Air travel involves the transport of passengers and cargo via commercial and private aircraft on domestic and international routes. The increase in air travel is being fueled by rising global passenger demand as economic activity and mobility rebound post-pandemic. The iron and steel mills and ferroalloy market supports this growth by providing high-strength metals and ferroalloys used in aircraft components, including structures, engines, landing gear, and airport infrastructure. For example, in January 2025, the International Air Transport Association (IATA), a Canada-based global airline industry association, reported that global air passenger traffic increased by 10.4% in 2024 compared to 2023, surpassing pre-pandemic levels and reflecting strong year-over-year growth in air travel demand. Consequently, the growth in air travel is expected to propel the expansion of the iron and steel mills and ferroalloy market.
Major companies operating in the iron and steel mills and ferroalloy market are focusing on developing advanced technologies such as blast furnaces to serve larger customer bases, boost sales, and enhance revenue. A blast furnace is a type of metallurgical furnace used for smelting to produce industrial metals, primarily pig iron, but also metals like lead or copper. For example, in September 2023, Ulanhot Steel, a China-based steel manufacturer, commissioned a new blast furnace at a manufacturing plant in Northern China. This furnace features the capability to produce 1.13 million tons of iron annually with a capacity of 1.2 thousand cubic meters. Additionally, a unit for utilizing gases in pig iron production was installed at the plant along with the new blast furnace.
In June 2025, Nippon Steel Corporation, a Japan-based producer of integrated steel products with capabilities spanning crude steel, high-grade steel, and specialty steel solutions, acquired United States Steel Corporation for an undisclosed amount. Through this acquisition, Nippon Steel substantially increased its global presence and production capacity, establishing itself as one of the world’s largest integrated steelmakers while improving access to the North American market and downstream steel-making capabilities. United States Steel Corporation is a US-based integrated steel producer supplying flat-rolled and tubular steel products to the automotive, construction, appliance, and other industrial sectors.
Major companies operating in the iron and steel mills and ferroalloy market report are POSCO, ArcelorMittal S.A., Nippon Steel & Sumitomo Metal Corporation, Tata Steel Group, Nucor Corp, JFE Holdings, Inc., Gerdau S.A., Hyundai Steel Company, Maanshan Iron and Steel Company Limited, Thyssenkrupp AG, Baoshan Iron & Steel Co. Ltd, Kobe Steel Limited, China Baowu Steel Group, Novolipetsk Steel (NLMK), Evraz, Magnitogorsk Iron and Steel Works, Severstal, Metalloinvest, Mechel, United States Steel Corporation, Cleveland-Cliffs, Algoma Steel Inc., Ternium S.A., Aperam, Companhia Siderúrgica Nacional.
Asia-Pacific was the largest region in the steel mills and ferroalloy market in 2025. Western Europe was the second-largest region in the iron and steel mills and ferroalloy market. The regions covered in the iron and steel mills and ferroalloy market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the iron and steel mills and ferroalloy market are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The iron and steel mills and ferroalloy market consists of sales of steel scrap, carbon steel, and sinter steel. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Iron and Steel Mills and Ferroalloy Market Characteristics
3. Iron and Steel Mills and Ferroalloy Market Supply Chain Analysis
4. Global Iron and Steel Mills and Ferroalloy Market Trends and Strategies
5. Iron and Steel Mills and Ferroalloy Market Analysis of End Use Industries
7. Global Iron and Steel Mills and Ferroalloy Strategic Analysis Framework, Current Market Size, Market Comparisons and Growth Rate Analysis
8. Global Iron and Steel Mills and Ferroalloy Total Addressable Market (TAM) Analysis for the Market
9. Iron and Steel Mills and Ferroalloy Market Segmentation
10. Iron and Steel Mills and Ferroalloy Market Regional and Country Analysis
11. Asia-Pacific Iron and Steel Mills and Ferroalloy Market
12. China Iron and Steel Mills and Ferroalloy Market
13. India Iron and Steel Mills and Ferroalloy Market
14. Japan Iron and Steel Mills and Ferroalloy Market
15. Australia Iron and Steel Mills and Ferroalloy Market
16. Indonesia Iron and Steel Mills and Ferroalloy Market
17. South Korea Iron and Steel Mills and Ferroalloy Market
18. Bangladesh Iron and Steel Mills and Ferroalloy Market
19. Thailand Iron and Steel Mills and Ferroalloy Market
20. Vietnam Iron and Steel Mills and Ferroalloy Market
21. Malaysia Iron and Steel Mills and Ferroalloy Market
22. Singapore Iron and Steel Mills and Ferroalloy Market
23. Philippines Iron and Steel Mills and Ferroalloy Market
24. Hong Kong Iron and Steel Mills and Ferroalloy Market
25. New Zealand Iron and Steel Mills and Ferroalloy Market
26. Taiwan Iron and Steel Mills and Ferroalloy Market
27. South East Asia Iron and Steel Mills and Ferroalloy Market
28. Western Europe Iron and Steel Mills and Ferroalloy Market
29. UK Iron and Steel Mills and Ferroalloy Market
30. Germany Iron and Steel Mills and Ferroalloy Market
31. France Iron and Steel Mills and Ferroalloy Market
32. Italy Iron and Steel Mills and Ferroalloy Market
33. Spain Iron and Steel Mills and Ferroalloy Market
34. Austria Iron and Steel Mills and Ferroalloy Market
35. Belgium Iron and Steel Mills and Ferroalloy Market
36. Denmark Iron and Steel Mills and Ferroalloy Market
37. Finland Iron and Steel Mills and Ferroalloy Market
38. Ireland Iron and Steel Mills and Ferroalloy Market
39. Netherlands Iron and Steel Mills and Ferroalloy Market
40. Norway Iron and Steel Mills and Ferroalloy Market
41. Portugal Iron and Steel Mills and Ferroalloy Market
42. Sweden Iron and Steel Mills and Ferroalloy Market
42. Switzerland Iron and Steel Mills and Ferroalloy Market
43. Eastern Europe Iron and Steel Mills and Ferroalloy Market
44. Russia Iron and Steel Mills and Ferroalloy Market
45. Czech Republic Iron and Steel Mills and Ferroalloy Market
46. Poland Iron and Steel Mills and Ferroalloy Market
47. Romania Iron and Steel Mills and Ferroalloy Market
48. Ukraine Iron and Steel Mills and Ferroalloy Market
49. North America Iron and Steel Mills and Ferroalloy Market
50. USA Iron and Steel Mills and Ferroalloy Market
51. Canada Iron and Steel Mills and Ferroalloy Market
52. Mexico Iron and Steel Mills and Ferroalloy Market
53. South America Iron and Steel Mills and Ferroalloy Market
54. Brazil Iron and Steel Mills and Ferroalloy Market
55. Chile Iron and Steel Mills and Ferroalloy Market
56. Argentina Iron and Steel Mills and Ferroalloy Market
57. Colombia Iron and Steel Mills and Ferroalloy Market
58. Peru Iron and Steel Mills and Ferroalloy Market
59. Middle East Iron and Steel Mills and Ferroalloy Market
60. Saudi Arabia Iron and Steel Mills and Ferroalloy Market
61. Israel Iron and Steel Mills and Ferroalloy Market
62. Iran Iron and Steel Mills and Ferroalloy Market
63. Turkey Iron and Steel Mills and Ferroalloy Market
64. United Arab Emirates Iron and Steel Mills and Ferroalloy Market
65. Africa Iron and Steel Mills and Ferroalloy Market
66. Egypt Iron and Steel Mills and Ferroalloy Market
67. Nigeria Iron and Steel Mills and Ferroalloy Market
68. South Africa Iron and Steel Mills and Ferroalloy Market
70. Iron and Steel Mills and Ferroalloy Market Competitive Landscape and Company Profiles
71. Iron and Steel Mills and Ferroalloy Market Other Major and Innovative Companies
74. Iron and Steel Mills and Ferroalloy Market High Potential Countries, Segments and Strategies
75. Appendix
Executive Summary
Iron and Steel Mills and Ferroalloy Market Global Report 2026 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses iron and steel mills and ferroalloy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for iron and steel mills and ferroalloy? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The iron and steel mills and ferroalloy market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
- The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
- The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
- The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
- The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.
Report Scope
Markets Covered:
1) By Type: Ferroalloys; Pig Iron; Crude Steel2) By Production Process: Blast Furnace-Basic Oxygen Furnace (BF-BOF) Route; Electric Arc Furnace (EAF) Route; Induction Furnace Route; Submerged Arc Furnace (SAF) Route
3) By End-User Industry: Automotive; Machinery; Oil and Gas; Construction; Other End-Users
Subsegments:
1) By Ferroalloys: Ferrochrome; Ferromanganese; Ferrosilicon; Ferrotungsten; Ferrovanadium2) By Pig Iron: Basic Pig Iron; Foundry Pig Iron
3) By Crude Steel: Carbon Steel; Alloy Steel; Stainless Steel
Companies Mentioned: POSCO; ArcelorMittal S.a.; Nippon Steel & Sumitomo Metal Corporation; Tata Steel Group; Nucor Corp; JFE Holdings, Inc.; Gerdau S.a.; Hyundai Steel Company; Maanshan Iron and Steel Company Limited; Thyssenkrupp AG; Baoshan Iron & Steel Co. Ltd; Kobe Steel Limited; China Baowu Steel Group; Novolipetsk Steel (NLMK); Evraz; Magnitogorsk Iron and Steel Works; Severstal; Metalloinvest; Mechel; United States Steel Corporation; Cleveland-Cliffs; Algoma Steel Inc.; Ternium S.a.; Aperam; Companhia Siderúrgica Nacional
Countries: China; India; Japan; Australia; Indonesia; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; Taiwan; New Zealand; UK; Germany; France; Italy; Spain; Austria; Belgium; Denmark; Finland; Ireland; Netherlands; Norway; Portugal; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: Word, PDF or Interactive Report + Excel Dashboard
Added Benefits:
- Bi-Annual Data Update
- Customisation
- Expert Consultant Support
Companies Mentioned
The companies featured in this Iron and Steel Mills and Ferroalloy market report include:- POSCO
- ArcelorMittal S.A.
- Nippon Steel & Sumitomo Metal Corporation
- Tata Steel Group
- Nucor Corp
- JFE Holdings, Inc.
- Gerdau S.A.
- Hyundai Steel Company
- Maanshan Iron and Steel Company Limited
- Thyssenkrupp AG
- Baoshan Iron & Steel Co. Ltd
- Kobe Steel Limited
- China Baowu Steel Group
- Novolipetsk Steel (NLMK)
- Evraz
- Magnitogorsk Iron and Steel Works
- Severstal
- Metalloinvest
- Mechel
- United States Steel Corporation
- Cleveland-Cliffs
- Algoma Steel Inc.
- Ternium S.A.
- Aperam
- Companhia Siderúrgica Nacional
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2026 |
| Forecast Period | 2026 - 2030 |
| Estimated Market Value ( USD | $ 1.08 Trillion |
| Forecasted Market Value ( USD | $ 1.3 Trillion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
