Global Iron and Steel Mills and Ferroalloy Market by Type (Crude Steel, Pig Iron, Ferroalloys), By Application (Iron and Steel Mills, Ferroalloy Companies, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
The Global Iron And Steel Mills And Ferroalloys Market size is projected to grow at a CAGR of 4.5% during the forecast period. The key factors driving this growth are increased steel production in emerging economies such as China, India, Brazil, and Mexico; increase in demand for quality steel from developed markets like Japan, Germany, and the U.S.; replacement of old plants with state-of-the-art facilities; increasing environmental regulations on the use of coal (a raw material used in producing pig iron); a growing number of downstream industries that consume ferroalloys; increase in demand for high purity nickel metal produced through the refining process, and rise in investments by major domestic and global players.
Iron and steel mills are the production facilities that use iron as raw material to manufacture various types of metal products. Ferroalloys, on the other hand, are a combination of metallic elements such as calcium, manganese, or chromium with alloying elements like aluminum or silicon, etc., at high temperatures in presence of a reducing agent. These alloys have much higher melting points compared to their constituent metals- thus resulting into longer life spans for tools/machines used in different industries.
Iron and steel mills process iron ore into partially refined ferrous metal. They combine the metals with other materials to form alloys such as carbon, which can be further used in building infrastructures like railways and bridges. Iron and steel also require additional processing before they are ready for use by end-users; this is done using thermal power or electricity generation through coal or natural gas combustion processes. Ferroalloy companies produce alloying agents that include silicon (silicon), manganese (manganese), and chromium mainly during their initial stage of production when raw material reserves are still abundant at low prices. Later on, these companies move towards producing specialty steels that have higher application value while reducing content in the final product.
On the basis of Type, the global iron and steel mills and ferroalloys market is segmented into crude steel, pig iron, and ferroalloys.
Crude Steel:
Crude steel is a term used to describe the output of a basic oxygen furnace (BOF) or electric arc furnace (EAF), which is not further processed into semi-finished products. Crude steel contains impurities such as silicon, phosphorus, and sulfur in different proportions depending on the grade of crude steel being produced. The various uses of crude steel are varied, including applications in the construction industry, transportation sector, and also for manufacturing major components.
Pig Iron:
Pig iron or cast iron is a type of intermediate product, which is used in the production of steel. It has low carbon content and a high amount of impurities compared to other forms of ferroalloys. This is the ground product that has undergone little or no change at all in its compositions. It contains approximately 97% of iron, along with slag minerals and other impurities that are drained through a channel to form liquid runoff during processing.
Ferroalloys:
Ferroalloys are alloys of iron with one or more elements. The most important ferroalloy is hematite, an oxide of iron that is used in the production of metallic iron by reduction with carbon (as coke). Other examples include magnetite and taconite. There are three main types of Ferroalloys: Magnetics (Ferromagnetic), Nonmagnetics (nonferrous) & Intermetallic Alloys; These include Chromium, Nickel, Vanadium, etc. Their traits make them suitable for various industrial applications like manufacturing steel alloys.
On the basis of Application, the global iron and steel mills and ferroalloys market is segmented into Iron & Steel Mills, Ferroalloy Companies, Others.
Iron & Steel Mills:
Iron and steel mills are one of the largest consumers of iron ore. Iron ores are used for smelting purposes in order to produce pig iron, which is further converted into various types of ferroalloys that find application in different industries including construction, automotive, oil & gas refining, etc. Iron and steel mills are major end-users of iron and steel in the world. The applications include hot rolled bands, sheets & plates that form an integral part of automobiles, the shipping industry, power generation equipment including boilers, etc. Iron ore is a key input for these industries since it makes up 98% - 99% of pig iron production globally.
Ferroalloy Companies:
Ferroalloy companies use iron and steel mills to create high-grade ferromanganese, ferrosilicon, and other alloying agents. The primary application of these materials is in producing stainless steel for manufacturing goods that require corrosion resistance or strength properties. Iron and steel mills are used by ferroalloy companies to produce various grades of alloy. The additional quantities from iron and steel mills can be sold back for further processing in other industries such as automobiles, white goods, etc. Thus, they play a vital role in meeting the demands of these sectors.
On the basis of Region, the global iron and steel mills and ferroalloys market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The iron and steel mills market in North America is expected to grow at a CAGR of around 0.95% from 2021 to 2028. Brazil is the largest producer of pig iron in Latin America and ranks fifth globally. Ferroalloy companies play a major role in Brazil’s production of ferronickel, which accounts for about half of its total nickel output. Europe is the biggest market for Iron and steel mills. It held 42% of global iron ore production in 2017, it also holds 56% of the world's total mined chromite ore reserves. Europe has more than 25 major ferroalloy manufacturing plants which produce different metal alloys like Ferronickel (Nickelcopper), Ferrhotin (Iron-Chromium), Nicalomat(Fe-Mn), etc. The Asia Pacific is the largest market for iron and steel mills and ferroalloys. China, Japan, South Korea are some of the major countries in this region that contribute to a significant share in total production volume.
Growth Factors For The Global Iron And Steel Mills And Ferroalloys Market:
The growth factors for the global iron and steel mills and ferroalloys market are increased demand for metal alloys, particularly nickel-based alloy, in various end-use industries such as transportation equipment (e.g., aircraft), chemical industry (e.g., batteries) & energy sector; growing usage of stainless steels across several applications which has boosted the demand for nickel sulfate; increasing application areas of advanced materials in different fields including automotive engineering, & medical devices, etc.; high production rates from developed regions such as North America and Europe; & the growth in demand environmentally friendly ferroalloys.
Up Market Research published a new report titled “Iron and Steel Mills and Ferroalloy Market research report which is segmented by Types (Crude Steel, Pig Iron, Ferroalloys), By Applications (Iron and Steel Mills, Ferroalloy Companies, Others), By Players/Companies ArcelorMittal, POSCO, China BaoWu Steel, Nippon Steel & Sumitomo Metal, JFE Engineering”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Iron and Steel Mills and Ferroalloy Market Research Report |
By Type | Crude Steel, Pig Iron, Ferroalloys |
By Application | Iron and Steel Mills, Ferroalloy Companies, Others |
By Companies | ArcelorMittal, POSCO, China BaoWu Steel, Nippon Steel & Sumitomo Metal, JFE Engineering |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 208 |
Number of Tables & Figures | 146 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Iron and Steel Mills and Ferroalloy Market Report Segments:
The market is segmented by Type Crude Steel, Pig Iron, Ferroalloys and By Application Iron and Steel Mills, Ferroalloy Companies, Others.
Some of the companies that are profiled in this report are:
- ArcelorMittal
- POSCO
- China BaoWu Steel
- Nippon Steel & Sumitomo Metal
- JFE Engineering
Iron and Steel Mills and Ferroalloy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Iron and Steel Mills and Ferroalloy Market
Overview of the regional outlook of the Iron and Steel Mills and Ferroalloy Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Iron and Steel Mills and Ferroalloy Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Iron and Steel Mills and Ferroalloy Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Crude Steel
2. Pig Iron
3. Ferroalloys
7. By Application:1. Iron and Steel Mills
2. Ferroalloy Companies
3. Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Iron and Steel Mills and Ferroalloy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Iron and Steel Mills and Ferroalloy Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Iron and Steel Mills and Ferroalloy Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Iron and Steel Mills and Ferroalloy Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Iron and Steel Mills and Ferroalloy Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Iron and Steel Mills and Ferroalloy Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Iron and Steel Mills and Ferroalloy Market Size & Forecast, 2018-2028
4.5.1 Iron and Steel Mills and Ferroalloy Market Size and Y-o-Y Growth
4.5.2 Iron and Steel Mills and Ferroalloy Market Absolute $ Opportunity
Chapter 5 Global Iron and Steel Mills and Ferroalloy Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Iron and Steel Mills and Ferroalloy Market Size Forecast by Type
5.2.1 Crude Steel
5.2.2 Pig Iron
5.2.3 Ferroalloys
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Iron and Steel Mills and Ferroalloy Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Iron and Steel Mills and Ferroalloy Market Size Forecast by Applications
6.2.1 Iron and Steel Mills
6.2.2 Ferroalloy Companies
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Iron and Steel Mills and Ferroalloy Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Iron and Steel Mills and Ferroalloy Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Iron and Steel Mills and Ferroalloy Analysis and Forecast
9.1 Introduction
9.2 North America Iron and Steel Mills and Ferroalloy Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Iron and Steel Mills and Ferroalloy Market Size Forecast by Type
9.6.1 Crude Steel
9.6.2 Pig Iron
9.6.3 Ferroalloys
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Iron and Steel Mills and Ferroalloy Market Size Forecast by Applications
9.10.1 Iron and Steel Mills
9.10.2 Ferroalloy Companies
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Iron and Steel Mills and Ferroalloy Analysis and Forecast
10.1 Introduction
10.2 Europe Iron and Steel Mills and Ferroalloy Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Iron and Steel Mills and Ferroalloy Market Size Forecast by Type
10.6.1 Crude Steel
10.6.2 Pig Iron
10.6.3 Ferroalloys
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Iron and Steel Mills and Ferroalloy Market Size Forecast by Applications
10.10.1 Iron and Steel Mills
10.10.2 Ferroalloy Companies
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Iron and Steel Mills and Ferroalloy Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Iron and Steel Mills and Ferroalloy Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Iron and Steel Mills and Ferroalloy Market Size Forecast by Type
11.6.1 Crude Steel
11.6.2 Pig Iron
11.6.3 Ferroalloys
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Iron and Steel Mills and Ferroalloy Market Size Forecast by Applications
11.10.1 Iron and Steel Mills
11.10.2 Ferroalloy Companies
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Iron and Steel Mills and Ferroalloy Analysis and Forecast
12.1 Introduction
12.2 Latin America Iron and Steel Mills and Ferroalloy Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Iron and Steel Mills and Ferroalloy Market Size Forecast by Type
12.6.1 Crude Steel
12.6.2 Pig Iron
12.6.3 Ferroalloys
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Iron and Steel Mills and Ferroalloy Market Size Forecast by Applications
12.10.1 Iron and Steel Mills
12.10.2 Ferroalloy Companies
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Iron and Steel Mills and Ferroalloy Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Iron and Steel Mills and Ferroalloy Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Iron and Steel Mills and Ferroalloy Market Size Forecast by Type
13.6.1 Crude Steel
13.6.2 Pig Iron
13.6.3 Ferroalloys
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Iron and Steel Mills and Ferroalloy Market Size Forecast by Applications
13.10.1 Iron and Steel Mills
13.10.2 Ferroalloy Companies
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Iron and Steel Mills and Ferroalloy Market: Competitive Dashboard
14.2 Global Iron and Steel Mills and Ferroalloy Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ArcelorMittal
14.3.2 POSCO
14.3.3 China BaoWu Steel
14.3.4 Nippon Steel & Sumitomo Metal
14.3.5 JFE Engineering