Steel Market Report 2025-2035

The Steel Market Report 2025-2035 (Including Impact of U.S. Trade Tariffs): This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.

Expanding Infrastructure Development Worldwide

One of the most significant drivers of global steel market growth is the surge in infrastructure investments across emerging and developed economies. Governments are prioritizing large-scale projects in transportation, urban housing, and energy. For instance, India's National Infrastructure Pipeline, with an estimated investment target exceeding USD 1.4 trillion by 2030, is fuelling demand for long and flat steel products. Similarly, China's continued focus on Belt and Road Initiative projects sustains a steady requirement for construction-grade steel. In the West, the U.S. Infrastructure Investment and Jobs Act, which allocates USD 1.2 trillion for upgrading roads, bridges, and railways, is spurring opportunities for producers such as U.S. Steel Corporation and Nucor. These large public projects not only ensure stable consumption but also encourage technological advancements in steel products with higher durability and efficiency.

Volatility in Raw Material Prices

One of the most persistent challenges in the steel industry is the volatility in the prices of key raw materials such as iron ore, coking coal, and scrap. These fluctuations are often driven by geopolitical tensions, mining restrictions, or shifts in global demand. For instance, in 2022, iron ore prices surged above USD 150 per ton due to supply constraints in Brazil and Australia, impacting profit margins for major producers like ArcelorMittal and JSW Steel. Smaller producers without long-term supply contracts are particularly vulnerable to such volatility, which disrupts production planning and increases overall costs. This dependency on external supply chains highlights the fragility of the industry to raw material price shocks.

What would be the Impact of US Trade Tariffs on the Global Steel Market?

U.S. steel tariffs, particularly the recent increase to 50% on certain imports, are significantly reshaping the global steel market. Initially introduced to protect domestic production and reduce reliance on foreign steel, these tariffs have caused ripple effects across supply chains. Countries like Mexico are negotiating quota-based exemptions, aiming to preserve their steel exports critical to U.S. industries such as automotive and construction. While these measures benefit U.S. steelmakers by supporting local prices and capacity utilization, they create cost pressures for downstream manufacturers who rely on imported steel inputs.

Globally, the tariffs have encouraged a redirection of steel trade flows. Exporters such as China, India, and South Korea are shifting volumes toward markets in Southeast Asia, Africa, and Latin America to compensate for reduced U.S. access. In some cases, countries are retaliating with their own trade barriers, further fragmenting global trade. The long-term impact includes increased regionalization of steel markets and a possible acceleration in the establishment of local manufacturing hubs to mitigate tariff-related risks. Overall, U.S. tariffs have increased uncertainty, raising production costs in some regions while fostering investment and policy responses in others.

What Questions Should You Ask before Buying a Market Research Report?

• How is the steel market evolving?
• What is driving and restraining the steel market?
• How will each steel submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2035?
• How will the market shares for each steel submarket develop from 2025 to 2035?
• What will be the main driver for the overall market from 2025 to 2035?
• Will leading steel markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2035 and which geographical region will lead the market in 2035?
• Who are the leading players and what are their prospects over the forecast period?
• What are the steel projects for these leading companies?
• How will the industry evolve during the period between 2025 and 2035? What are the implications of steel projects taking place now and over the next 10 years?
• Is there a greater need for product commercialisation to further scale the steel market?
• Where is the steel market heading and how can you ensure you are at the forefront of the market?
• What are the best investment options for new product and service lines?
• What are the key prospects for moving companies into a new growth path and C-suite?

You need to discover how this will impact the steel market today, and over the next 10 years:

• Our 371-page report provides 109 tables and 173 charts/graphs exclusively to you.
• The report highlights key lucrative areas in the industry so you can target them – NOW.
• It contains in-depth analysis of global, regional and national sales and growth.
• It highlights for you the key successful trends, changes and revenue projections made by your competitors.

Forecasts to 2035 and other analyses reveal commercial prospects

• In addition to revenue forecasting to 2035, our new study provides you with recent results, growth rates, and market shares.
• You will find original analyses, with business outlooks and developments.
• Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising steel prices and recent developments.

Segments Covered in the Report

By Production Technology

• Basic Oxygen Furnace (BOF)
• Electric Arc Furnace (EAF)
• Open Hearth Furnace

By Product Type

• Steel Sheets
• Steel Beams
• Steel Bars
• Other Product

By Application

• Building and Infrastructure
• Mechanical & Electrical Equipment
• Automotive
• Metal & Domestic Products
• Other Applications

By Type

• Carbon Steel
• Stainless Steel
• Alloy Steel
• Aluminium Steel
• Cobalt Steel
• Other Steel Type

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 25 leading national markets:

North America

• U.S.
• Canada

Europe

• Germany
• Turkey
• France
• Italy
• Russia
• Rest of Europe

Asia Pacific

• Japan
• China
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

MEA

• GCC
• South Africa
• Rest of MEA

The report also includes profiles and for some of the leading companies in the Steel Market, 2025 to 2035, with a focus on this segment of these companies' operations.

Leading companies profiled in the report

• Anshan Iron and Steel Group Corporation
• ArcelorMittal S.A.
• China Baowu Steel Group
• Delong Steel Group
• Hesteel Group Company Limited
• Hyundai Steel
• JFE Steel Corporation
• Jiangxi Fangda Iron & Steel Group Co., Ltd.
• Jianlong Group
• Jindal Steel
• Liuzhou Iron & Steel Co., Ltd
• Nucor Corporation
• Pohang Iron and Steel Company
• Shandong Iron and Steel Group Co., Ltd.,
• Tata Steel Limited.

Overall world revenue for Steel Market, 2025 to 2035 in terms of value the market will surpass US$1,796.1 billion in 2025, our work calculates. We predict strong revenue growth through to 2035. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.

How will the Steel Market, 2025 to 2035 report help you?

In summary, our 370+ page report provides you with the following knowledge:

• Revenue forecasts to 2035 for Steel Market, 2025 to 2035, with forecasts for production technology, product type, application, and type, each forecast at a global and regional level – discover the industry's prospects, finding the most lucrative places for investments and revenues.
• Revenue forecasts to 2035 for five regional and 25 key national markets – See forecasts for the Steel Market, 2025 to 2035 in North America, Europe, Asia Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, Turkey, Italy, Russia, China, India, Japan, and Australia among other prominent economies.
• Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Steel Market, 2025 to 2035.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.

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