Singapore Steel Market Report and Forecast 2025-2034
Description
The Singapore steel market is projected to grow at a CAGR of 3.20% between 2025 and 2034.
Singapore Steel Market Growth
The Singapore steel market is boosted by applications in the construction industry along with use cases in the automotive industry, metalware, and domestic appliances among others.
In the construction industry steel is used for structural frameworks, components, and infrastructure. It offers strength, malleability, durability, and versatility. Steel finds application in skyscrapers, bridges, stadiums, residential buildings, and industrial facilities. Frameworks provide the necessary strength and stability while allowing for innovative architectural designs and efficient construction techniques.
Growth in the steel market in Singapore is largely led by massive infrastructure and construction projects that are at the helm of the country's development plans. Behemoth national and foreign corporations are shaping the industry while keeping in mind sustainability. In December 2023 Singapore-based Meranti Green Steel set up a production plant in Thailand and announced green steel plans in Australia, these plans were joint ventures with local players.
The automotive industry relies heavily on steel for production due to its strength, malleability, versatility, and cost-effective nature. Steel is used in chassis, engine components, suspension systems, breaks and safety features like airbags and seatbelts. Advanced steels are increasingly used in modern vehicles to enhance crash resistance, reduce weight, and improve fuel efficiency while maintaining safety protocols.
Singapore Steel Market Segmentation
Singapore 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 _x000D_ _x000D_ Wire Rod _x000D_ Rebars _x000D_ Merchant Bars _x000D_ Heavy Sections _x000D_ Others _x000D_ _x000D_
Long Steel _x000D_ _x000D_ Wire Rod _x000D_ Rebars _x000D_ Merchant Bars _x000D_ Heavy Sections _x000D_ Others _x000D_ _x000D_
Flat Steel _x000D_ _x000D_ Hot Rolled Wide Strip _x000D_ Quarto Plate _x000D_ Others _x000D_ _x000D_
Flat Steel _x000D_ _x000D_ Hot Rolled Wide Strip _x000D_ Quarto Plate _x000D_ Others _x000D_ _x000D_
Long Steel _x000D_ _x000D_ Wire Rod _x000D_ Rebars _x000D_ Merchant Bars _x000D_ Heavy Sections _x000D_ Others _x000D_ _x000D_
Flat Steel _x000D_ _x000D_ Hot Rolled Wide Strip _x000D_ Quarto Plate _x000D_ Others _x000D_ _x000D_
Market Breakup by Type:
Carbon Steel
Alloy Steel
Stainless Steel
Tool Steel
Market Breakup by Application:
Construction
Mechanical Engineering
Automotive
Metalware
Domestic Appliances
Others
Singapore Steel Market Share
Long steel products lead thesteel marketof the country owing to the wide range of applications that it has in infrastructure and manufacturing. Products made using long steel typically include bars, rods, beams, and structural sections commonly used in construction projects for structural framing and reinforcement due to their strength, durability, and versatility.
Leading Companies in the Singapore Steel Market
Major players in the market are expanding their reach through investments in advanced manufacturing technologies to enhance efficiency and productivity along with green steel initiatives aimed at achieving environmental sustainability.
ArcelorMittal S.A.
Toyota Tsusho Corp.
SSAB AB
Outokumpu Oyj
Sumitomo Corporation
Hyundai Steel Co.
Japan Steel Works, Ltd.
Chuan Eu International Pte Ltd.
Kobe Steel Ltd.
Tata Steel Limited
Others
Singapore Steel Market Growth
The Singapore steel market is boosted by applications in the construction industry along with use cases in the automotive industry, metalware, and domestic appliances among others.
In the construction industry steel is used for structural frameworks, components, and infrastructure. It offers strength, malleability, durability, and versatility. Steel finds application in skyscrapers, bridges, stadiums, residential buildings, and industrial facilities. Frameworks provide the necessary strength and stability while allowing for innovative architectural designs and efficient construction techniques.
Growth in the steel market in Singapore is largely led by massive infrastructure and construction projects that are at the helm of the country's development plans. Behemoth national and foreign corporations are shaping the industry while keeping in mind sustainability. In December 2023 Singapore-based Meranti Green Steel set up a production plant in Thailand and announced green steel plans in Australia, these plans were joint ventures with local players.
The automotive industry relies heavily on steel for production due to its strength, malleability, versatility, and cost-effective nature. Steel is used in chassis, engine components, suspension systems, breaks and safety features like airbags and seatbelts. Advanced steels are increasingly used in modern vehicles to enhance crash resistance, reduce weight, and improve fuel efficiency while maintaining safety protocols.
Singapore Steel Market Segmentation
Singapore 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 _x000D_ _x000D_ Wire Rod _x000D_ Rebars _x000D_ Merchant Bars _x000D_ Heavy Sections _x000D_ Others _x000D_ _x000D_
Long Steel _x000D_ _x000D_ Wire Rod _x000D_ Rebars _x000D_ Merchant Bars _x000D_ Heavy Sections _x000D_ Others _x000D_ _x000D_
Flat Steel _x000D_ _x000D_ Hot Rolled Wide Strip _x000D_ Quarto Plate _x000D_ Others _x000D_ _x000D_
Flat Steel _x000D_ _x000D_ Hot Rolled Wide Strip _x000D_ Quarto Plate _x000D_ Others _x000D_ _x000D_
Long Steel _x000D_ _x000D_ Wire Rod _x000D_ Rebars _x000D_ Merchant Bars _x000D_ Heavy Sections _x000D_ Others _x000D_ _x000D_
Flat Steel _x000D_ _x000D_ Hot Rolled Wide Strip _x000D_ Quarto Plate _x000D_ Others _x000D_ _x000D_
Market Breakup by Type:
Carbon Steel
Alloy Steel
Stainless Steel
Tool Steel
Market Breakup by Application:
Construction
Mechanical Engineering
Automotive
Metalware
Domestic Appliances
Others
Singapore Steel Market Share
Long steel products lead thesteel marketof the country owing to the wide range of applications that it has in infrastructure and manufacturing. Products made using long steel typically include bars, rods, beams, and structural sections commonly used in construction projects for structural framing and reinforcement due to their strength, durability, and versatility.
Leading Companies in the Singapore Steel Market
Major players in the market are expanding their reach through investments in advanced manufacturing technologies to enhance efficiency and productivity along with green steel initiatives aimed at achieving environmental sustainability.
ArcelorMittal S.A.
Toyota Tsusho Corp.
SSAB AB
Outokumpu Oyj
Sumitomo Corporation
Hyundai Steel Co.
Japan Steel Works, Ltd.
Chuan Eu International Pte Ltd.
Kobe Steel Ltd.
Tata Steel Limited
Others
Table of Contents
100 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 Singapore Steel Market Overview
- 6.1 Key Industry Highlights
- 6.2 Singapore Steel Historical Market (2018-2024)
- 6.3 Singapore Steel Market Forecast (2025-2034)
- 7 Singapore Steel Market by Product
- 7.1 Long Steel
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.1.3 Breakup by Type
- 7.1.3.1 Wire Rod
- 7.1.3.2 Rebars
- 7.1.3.3 Merchant Bars
- 7.1.3.4 Heavy Sections
- 7.1.3.5 Others
- 7.2 Flat Steel
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.2.3 Breakup by Type
- 7.2.3.1 Hot Rolled Wide Strip
- 7.2.3.2 Quarto Plate
- 7.2.3.3 Others
- 8 Singapore 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 Singapore Steel Market by Application
- 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 Metalware
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Domestic Appliances
- 9.5.1 Historical Trend (2018-2024)
- 9.5.2 Forecast Trend (2025-2034)
- 9.6 Others
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators for Demand
- 10.4 Key Indicators for Price
- 11 Value Chain Analysis
- 12 Trade Data Analysis (HS Code – 72)
- 12.1 Major Exporting Countries
- 12.1.1 By Value
- 12.1.2 By Volume
- 12.2 Major Importing Countries
- 12.2.1 By Value
- 12.2.2 By Volume
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Supplier Selection
- 14.2 Key Global Players
- 14.3 Key Regional Players
- 14.4 Key Player Strategies
- 14.5 Company Profiles
- 14.5.1 ArcelorMittal S.A.
- 14.5.1.1 Company Overview
- 14.5.1.2 Product Portfolio
- 14.5.1.3 Demographic Reach and Achievements
- 14.5.1.4 Certifications
- 14.5.2 Toyota Tsusho Corp.
- 14.5.2.1 Company Overview
- 14.5.2.2 Product Portfolio
- 14.5.2.3 Demographic Reach and Achievements
- 14.5.2.4 Certifications
- 14.5.3 SSAB AB
- 14.5.3.1 Company Overview
- 14.5.3.2 Product Portfolio
- 14.5.3.3 Demographic Reach and Achievements
- 14.5.3.4 Certifications
- 14.5.4 Outokumpu Oyj
- 14.5.4.1 Company Overview
- 14.5.4.2 Product Portfolio
- 14.5.4.3 Demographic Reach and Achievements
- 14.5.4.4 Certifications
- 14.5.5 Sumitomo Corporation
- 14.5.5.1 Company Overview
- 14.5.5.2 Product Portfolio
- 14.5.5.3 Demographic Reach and Achievements
- 14.5.5.4 Certifications
- 14.5.6 Hyundai Steel Co.
- 14.5.6.1 Company Overview
- 14.5.6.2 Product Portfolio
- 14.5.6.3 Demographic Reach and Achievements
- 14.5.6.4 Certifications
- 14.5.7 Japan Steel Works, Ltd.
- 14.5.7.1 Company Overview
- 14.5.7.2 Product Portfolio
- 14.5.7.3 Demographic Reach and Achievements
- 14.5.7.4 Certifications
- 14.5.8 Chuan Eu International Pte Ltd.
- 14.5.8.1 Company Overview
- 14.5.8.2 Product Portfolio
- 14.5.8.3 Demographic Reach and Achievements
- 14.5.8.4 Certifications
- 14.5.9 Kobe Steel Ltd.
- 14.5.9.1 Company Overview
- 14.5.9.2 Product Portfolio
- 14.5.9.3 Demographic Reach and Achievements
- 14.5.9.4 Certifications
- 14.5.10 Tata Steel Limited
- 14.5.10.1 Company Overview
- 14.5.10.2 Product Portfolio
- 14.5.10.3 Demographic Reach and Achievements
- 14.5.10.4 Certifications
- 14.5.11 Others
Pricing
Currency Rates
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