Australia Steel Market Report and Forecast 2025-2034
Description
Australia Steel Market Report and Forecast 2025-2034
Market Outlook
According to the report by Expert Market Research (EMR), the Australia steel market size reached around USD 12.87 billion in 2024. Aided by the rising shift towards sustainable, low-emission production methods and increasing demand for recycled steel, the market is projected to grow at a CAGR of 2.90% between 2025 and 2034 to attain nearly USD 17.14 billion by 2034.
The Australia steel market growth is being supported by infrastructure development, manufacturing activities, and the expanding construction sector. Steel remains a critical material in a wide range of applications due to its strength, durability, and recyclability. It plays a foundational role in the development of roads, buildings, bridges, machinery, transport systems, and energy infrastructure. In the Australian context, demand for steel is closely tied to national projects focused on transport, renewable energy, and urban development, which are driving consumption across both public and private sectors. As government investment in construction and infrastructure continues to increase, the steel market is well positioned for further expansion.
As per the Australia steel market analysis, the Australian construction sector is one of the largest consumers of steel, using it extensively for residential, commercial, and industrial projects. Structural steel, reinforcing bars, and steel beams are integral to modern building practices, offering the benefits of strength, fire resistance, and design flexibility. With growing urban populations and housing demand, especially in cities like Sydney, Melbourne, and Brisbane, the need for quality construction materials remains high. Steel’s adaptability to prefabrication and modular construction methods also makes it a preferred choice among builders aiming to improve efficiency and reduce labour costs. As green building practices become more common, steel’s recyclable nature adds to its appeal as a sustainable construction solution.
Australia’s manufacturing sector also plays a vital role in supporting the Australia steel market expansion, particularly in the production of machinery, equipment, and fabricated metal products. Steel is used in the automotive industry, mining equipment, agricultural tools, and marine applications. The versatility of steel allows for the fabrication of components that meet high performance standards in terms of strength, fatigue resistance, and corrosion protection. This makes steel an essential material in industries that require long-lasting, high-performance products. The shift towards advanced manufacturing practices, including automation and precision engineering, has further strengthened the role of steel in supporting industrial growth.
The mining industry, a cornerstone of the Australian economy, also boosts the Australia steel market revenue. Mining operations require heavy-duty steel products for trucks, drilling equipment, conveyors, and processing facilities. The strength and wear resistance of steel components are essential in harsh operational environments, especially in the extraction and transportation of minerals. With continued exploration and expansion of mining activities, particularly in Western Australia and Queensland, the demand for robust steel products remains strong. In addition, exports of raw materials such as iron ore support domestic steel production by ensuring a consistent and competitive supply of inputs for local steelmakers.
The Australian government’s focus on infrastructure investment, particularly in transport networks, energy projects, and water systems, is creating lucrative Australia steel market opportunities. Major infrastructure projects such as metro rail expansions, airport upgrades, and renewable energy installations require large volumes of steel for both structural and functional purposes. Wind turbine towers, solar mounting systems, transmission lines, and pipelines all depend on steel for strength and durability. The emphasis on energy transition and sustainability is further increasing the use of steel in the development of green infrastructure, including offshore wind farms and hydrogen production facilities.
Recycling also plays a major role in shaping the Australia steel market dynamics, with steel being one of the most recycled materials globally. Scrap steel is collected from industrial sites, demolished buildings, and manufacturing waste, then processed and reused in steel production. This not only reduces the environmental impact but also supports a circular economy by conserving natural resources and lowering emissions. Australian steel producers are investing in energy-efficient technologies and circular manufacturing practices to align with national sustainability goals and meet global environmental standards. These efforts contribute to strengthening the environmental profile of steel and increasing its acceptance as an eco-friendly material in modern construction and manufacturing.
Despite the positive outlook, the Australia steel market faces certain challenges, including fluctuating global steel prices, high energy costs, and competition from imports. Exchange rate volatility and international trade dynamics can also impact the competitiveness of locally produced steel. To address these challenges, industry players are focusing on improving operational efficiency, investing in local capabilities, and collaborating with government and industry bodies to ensure fair trade practices and strong market resilience. Technological advancements in steel production, including electric arc furnaces and advanced metallurgical processes, are also supporting productivity improvements and cost management.
Looking ahead, the Australia steel market outlook remains promising. With ongoing investments in infrastructure, renewable energy, and manufacturing, steel is expected to remain an essential material in national development. As demand continues to evolve, producers and suppliers who focus on quality, sustainability, and innovation will be best positioned to meet the needs of modern industry and contribute to Australia’s long-term economic growth.
Market Segmentation
The market can be divided based on product, type, end use, and region.
Market Breakup by Product
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia steel market. Some of the major players explored in the report by Expert Market Research are as follows:
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.
*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Market Outlook
According to the report by Expert Market Research (EMR), the Australia steel market size reached around USD 12.87 billion in 2024. Aided by the rising shift towards sustainable, low-emission production methods and increasing demand for recycled steel, the market is projected to grow at a CAGR of 2.90% between 2025 and 2034 to attain nearly USD 17.14 billion by 2034.
The Australia steel market growth is being supported by infrastructure development, manufacturing activities, and the expanding construction sector. Steel remains a critical material in a wide range of applications due to its strength, durability, and recyclability. It plays a foundational role in the development of roads, buildings, bridges, machinery, transport systems, and energy infrastructure. In the Australian context, demand for steel is closely tied to national projects focused on transport, renewable energy, and urban development, which are driving consumption across both public and private sectors. As government investment in construction and infrastructure continues to increase, the steel market is well positioned for further expansion.
As per the Australia steel market analysis, the Australian construction sector is one of the largest consumers of steel, using it extensively for residential, commercial, and industrial projects. Structural steel, reinforcing bars, and steel beams are integral to modern building practices, offering the benefits of strength, fire resistance, and design flexibility. With growing urban populations and housing demand, especially in cities like Sydney, Melbourne, and Brisbane, the need for quality construction materials remains high. Steel’s adaptability to prefabrication and modular construction methods also makes it a preferred choice among builders aiming to improve efficiency and reduce labour costs. As green building practices become more common, steel’s recyclable nature adds to its appeal as a sustainable construction solution.
Australia’s manufacturing sector also plays a vital role in supporting the Australia steel market expansion, particularly in the production of machinery, equipment, and fabricated metal products. Steel is used in the automotive industry, mining equipment, agricultural tools, and marine applications. The versatility of steel allows for the fabrication of components that meet high performance standards in terms of strength, fatigue resistance, and corrosion protection. This makes steel an essential material in industries that require long-lasting, high-performance products. The shift towards advanced manufacturing practices, including automation and precision engineering, has further strengthened the role of steel in supporting industrial growth.
The mining industry, a cornerstone of the Australian economy, also boosts the Australia steel market revenue. Mining operations require heavy-duty steel products for trucks, drilling equipment, conveyors, and processing facilities. The strength and wear resistance of steel components are essential in harsh operational environments, especially in the extraction and transportation of minerals. With continued exploration and expansion of mining activities, particularly in Western Australia and Queensland, the demand for robust steel products remains strong. In addition, exports of raw materials such as iron ore support domestic steel production by ensuring a consistent and competitive supply of inputs for local steelmakers.
The Australian government’s focus on infrastructure investment, particularly in transport networks, energy projects, and water systems, is creating lucrative Australia steel market opportunities. Major infrastructure projects such as metro rail expansions, airport upgrades, and renewable energy installations require large volumes of steel for both structural and functional purposes. Wind turbine towers, solar mounting systems, transmission lines, and pipelines all depend on steel for strength and durability. The emphasis on energy transition and sustainability is further increasing the use of steel in the development of green infrastructure, including offshore wind farms and hydrogen production facilities.
Recycling also plays a major role in shaping the Australia steel market dynamics, with steel being one of the most recycled materials globally. Scrap steel is collected from industrial sites, demolished buildings, and manufacturing waste, then processed and reused in steel production. This not only reduces the environmental impact but also supports a circular economy by conserving natural resources and lowering emissions. Australian steel producers are investing in energy-efficient technologies and circular manufacturing practices to align with national sustainability goals and meet global environmental standards. These efforts contribute to strengthening the environmental profile of steel and increasing its acceptance as an eco-friendly material in modern construction and manufacturing.
Despite the positive outlook, the Australia steel market faces certain challenges, including fluctuating global steel prices, high energy costs, and competition from imports. Exchange rate volatility and international trade dynamics can also impact the competitiveness of locally produced steel. To address these challenges, industry players are focusing on improving operational efficiency, investing in local capabilities, and collaborating with government and industry bodies to ensure fair trade practices and strong market resilience. Technological advancements in steel production, including electric arc furnaces and advanced metallurgical processes, are also supporting productivity improvements and cost management.
Looking ahead, the Australia steel market outlook remains promising. With ongoing investments in infrastructure, renewable energy, and manufacturing, steel is expected to remain an essential material in national development. As demand continues to evolve, producers and suppliers who focus on quality, sustainability, and innovation will be best positioned to meet the needs of modern industry and contribute to Australia’s long-term economic growth.
Market Segmentation
The market can be divided based on product, type, end use, and region.
Market Breakup by Product
- Flat Steel
- Long Steel
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Tool Steel
- Construction
- Mechanical Engineering
- Automotive
- Domestic Appliances
- Metalware
- Agricultural
- Others
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia steel market. Some of the major players explored in the report by Expert Market Research are as follows:
- Vulcan Steel (Australia) Pty Limited
- Master Steel
- InfraBuild Trading Pty Limited
- BlueScope Steel Limited
- Steel Fabrication Services.
- Others
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.
*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
138 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Steel Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Steel Historical Market (2018-2024)
- 5.3 Asia Pacific Steel Market Forecast (2025-2034)
- 6 Australia Steel Market Overview
- 6.1 Key Industry Highlights
- 6.2 Australia Steel Historical Market (2018-2024)
- 6.3 Australia Steel Market Forecast (2025-2034)
- 7 Australia Steel Market by Product
- 7.1 Flat Steel
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Long Steel
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 Australia Steel Market by Type
- 8.1 Carbon Steel
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Alloy Steel
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Stainless Steel
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Tool Steel
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 9 Australia Steel Market by End Use
- 9.1 Construction
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Mechanical Engineering
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Automotive
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Domestic Appliances
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Metalware
- 9.5.1 Historical Trend (2018-2024)
- 9.5.2 Forecast Trend (2025-2034)
- 9.6 Agricultural
- 9.6.1 Historical Trend (2018-2024)
- 9.6.2 Forecast Trend (2025-2034)
- 9.7 Others
- 10 Australia Steel Market by Region
- 10.1 New South Wales
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Victoria
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Queensland
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Australian Capital Territory
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Western Australia
- 10.5.1 Historical Trend (2018-2024)
- 10.5.2 Forecast Trend (2025-2034)
- 10.6 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Vulcan Steel (Australia) Pty Limited
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Master Steel
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 InfraBuild Trading Pty Limited
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 BlueScope Steel Limited
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Steel Fabrication Services.
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Others
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