Steel Market - Industry Size, Growth, Applications, Opportunities and Forecasts to 2025
14 th September 2021 – Global Steel Market is expected to reach USD 1.01 trillion by 2025. Steel is an alloy of carbon and iron-containing less than 2% carbon and 1% manganese and little amount of oxygen, silicon, Sulphur, and phosphorous. It is known as the universe most important construction and engineering material. It is exclusively used in cargo ships and surgical scalpels, cars and construction products, and refrigerators and washing machines. The Steel Market is estimated to grow at a significant CAGR of 2.6% over the forecast period as the scope and its applications are rising enormously across the globe. Increasing use of strong building materials, rising inclination of contractors towards sustainable, and low cost of materials are documented as major factors of steel industry that are estimated to enhance the growth in the years to come. However, ban on iron ore may restrain overall market growth in the coming years. Steel Market is segmented based on type, product type,...