Market Scenario:

Global steel processing is generally classified into two types that is primary and secondary steel making. Primary steel processing converts liquid iron from a blast furnace or steel scrap into steel.  This can be done using melting the scrap steel in electric arc furnace. Secondary steel processing includes the refining of crude steel and different operation. Steel can be processed using the combination of iron, alloy and carbon melting together in proportionate basis. Steel can also be processed through hot rolled and cold rolled method. The steel processing market is expected to reach USD 600 Billion by 2022 at a CAGR of approximately 2%.

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On the basis of steel type, carbon steel is expected to grow during the forecast period because it is harder than alloy steel and is widely used in construction industries. Based on the application, construction segment is expected to dominate the global steel processing market during the forecast period. Asia-Pacific is expected to have largest market share in the forecast period.

Regional Analysis:

Asia-Pacific, North America, Latin America, Europe, and Middle East & Africa are the regions analyzed under the scope of the global steel processing market.
The Asia-Pacific market held the largest share for steel processing in 2018 and is expected to dominate the market growth of steel processing during the forecast period. The key factors contributing to the increasing demand for steel processing in the region are rapid industrialization and booming automotive industries, leading to high consumption of steel, which is expected to surge the growth of the steel processing market in the region. For instance, in 2018, according to the Indian Brand Equity Foundation (IBEF) the production of steel in India was sized at 106.5 Mt; furthermore, there has been increasing investments in the field; for instance, Vedanta Group invested USD 3.13 billion for its Jharkhand plant which will be having a capacity of 1 million ton, is further expected to boost the steel processing market in the region.
North America accounted for the second-largest share in the global steel processing market in 2018 and is expected to show healthy growth during the review period. The growth in the regional market is attributed to the presence of the largest aerospace & defense industry and a mature automotive industry which requires different grades of steel for the fabrication of their parts.
Europe holds a prominent market share in the global steel processing market, which is driven by the strict government regulations compelling the industrial leaders of the region to produce low carbon steel to decrease greenhouse gas emission as it affects climate change. For Instance, authorities in Britain have announced USD 474.77 million of spending for low carbon process, which would boost the steel industry in the coming years. Moreover, Germany having the largest automotive industry is another reason for the growth of the steel processing market in the regional market.
The market in the Middle East & Africa is expected to exhibit steady growth in the steel processing market during the forecast period due to the growing building and construction activities in the GCC countries of the region.

Latin America is expected to have a substantial growth in the steel processing market during the forecast period due to increasing automotive and construction industry.

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Steel Authority of India Limited
ThyssenKrupp AG
Jiangsu Shagang Group Company Limited
Severstal PAO
Hebei Iron & Steel Co Ltd
Hyundai Steel Co.
Bridon International Ltd
Kobe Steel, Ltd.
Maanshan Iron & Steel Company Limited
Tata Steel Ltd.
Intended Audience: 

Coating equipment manufacturers
Distributer & Supplier companies
End Users
consultants and Investment bankers
Government as well as Independent Regulatory Authorities
Asia-Pacific accounts for the highest market share

Asia-Pacific is expected to witness growth in the forecast period because most of the leading processing providers are mainly focusing on the emerging nations like Asia-Pacific. Also rapid industrial development in this region augments the market growth. North America is expected to grow at a steady rate in the forecast period. European nations have set up their plants in Asia-Pacific region due to low production cost and cheap labor.

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