The Peru steel market size reached around 4.00 MMT in 2024. The market is projected to grow at aCAGR of 3.20%between 2025 and 2034, reaching almost5.48 MMT by 2034.
Steel is central to Peru’s economic development since it is an integral raw material for numerous other sectors. Sustainable manufacturing practices make steel produced in Latin America relatively cleaner (30%) than steel produced in other countries such as China. This is one of the key Peru steel market trends.
The performance of the Peruvian economy is closely tied to the steel manufacturing output, and technological advancements in iron ore extraction and processing are expected to propel thesteel marketgrowth in Peru over the forecast period.
The application of steel in the construction sector is expected to dominate the Peru steel market growth. The construction of new renewable energy power plants, ports, and highways is expected to generate a huge demand for steel and associated products, such as wire rods and rebars.
The automotive sector is also expected to increase its demand for steel in Peru, as the domestic industry looks towards upscaling its production capacities and meeting foreign demand. Moreover, technological developments in automotive design are influencing the demand for carbon steel as it is used to manufacture bushings and door frames, among other vehicle components. This is expected to drive the Peru steel market expansion over the forecast period.
Steel is central to Peru’s economic development since it is an integral raw material for numerous other sectors. Sustainable manufacturing practices make steel produced in Latin America relatively cleaner (30%) than steel produced in other countries such as China. This is one of the key Peru steel market trends.
The performance of the Peruvian economy is closely tied to the steel manufacturing output, and technological advancements in iron ore extraction and processing are expected to propel thesteel marketgrowth in Peru over the forecast period.
The application of steel in the construction sector is expected to dominate the Peru steel market growth. The construction of new renewable energy power plants, ports, and highways is expected to generate a huge demand for steel and associated products, such as wire rods and rebars.
The automotive sector is also expected to increase its demand for steel in Peru, as the domestic industry looks towards upscaling its production capacities and meeting foreign demand. Moreover, technological developments in automotive design are influencing the demand for carbon steel as it is used to manufacture bushings and door frames, among other vehicle components. This is expected to drive the Peru steel market expansion over the forecast period.
Market Segmentation
Peru Steel Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Product
- Long Steel
- Wire Rod
- Rebars
- Merchant Bars
- Heavy Sections
- Others
- Flat Steel
- Hot Rolled Wide Strip
- Quarto Plate
- Others
Market Breakup by Type
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Tool Steel
Market Breakup by Application
- Construction
- Mechanical Engineering
- Automotive
- Metalware
- Domestic Appliances
- Agricultural
- Others
Competitive Landscape
The key Peru steel market players are:
- Corporacion Aceros Arequipa SA
- Gerdau S/A
- Century Metals & Supplies INC.
- ArcelorMittal S.A.
- SSAB AB
- Acerinox, S.A.
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Latin America Steel Market Overview
6 Peru Steel Market Overview
7 Peru Steel Market by Product
8 Peru Steel Market by Type
9 Peru Steel Market by Application
10 Market Dynamics
12 Trade Data Analysis
14 Competitive Landscape
Companies Mentioned
- Corporacion Aceros Arequipa SA
- Gerdau S/A
- Century Metals & Supplies INC.
- ArcelorMittal S.A.
- SSAB AB
- Acerinox, S.A.
