Global Steel
Market Report
2025
Delivery Includes:- Market Timeline 2021 till 2033, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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"Global Steel market size 2025 is $1527 Billion whereas according out published study it will reach to $2185.22 Billion by 2033. Steel market will be growing at a CAGR of 4.582% during 2025 to 2033."
As per the current market study, out of 1527 Billion USD global market revenue 2025, North America market holds 15.25% of the market share. The North America Steel industry grew from 202.959 Billion USD in 2021 to 232.868 Billion USD in 2025 and will record 87.16% growth. In coming future this industry will reach 305.93 Billion by 2033 with a 3.47% CAGR. If we look at the percentage market shares of top North America countries for 2025,United States (81.96%), Canada (10.49%), Mexico (7.55%)
As per the current market study, out of 1527 Billion USD global market revenue 2025, Europe market holds 11.40% of the market share. The Europe Steel industry grew from 151.9 Billion USD in 2021 to 174.078 Billion USD in 2025 and will record 87.26% growth. In coming future this industry will reach 233.818 Billion by 2033 with a 3.757% CAGR. If we look at the percentage market shares of top Europe countries for 2025,United Kingdom (14.40%), Germany (20.30%), France (13.11%), Italy (10.30%), Russia (5.24%), Spain (9.61%), Sweden (6.37%), Denmark (3.65%), Switzerland (5.02%), Luxembourg (0.95%), Rest of Europe (11.05%)
As per the current market study, out of 1527 Billion USD global market revenue 2025, Asia Pacific market holds 56.25% of the market share. The Asia Pacific Steel industry grew from 707.165 Billion USD in 2021 to 858.938 Billion USD in 2025 and will record 82.33% growth. In coming future this industry will reach 1269.61 Billion by 2033 with a 5.006% CAGR. If we look at the percentage market shares of top Asia Pacific countries for 2025,China (31.80%), Japan (15.55%), India (12.55%), South Korea (8.39%), Australia (4.34%), Singapore (2.86%), South East Asia (9.29%), Taiwan (3.91%), Rest of APAC (11.31%)
As per the current market study, out of 1527 Billion USD global market revenue 2025, South America market holds 6.98% of the market share. The South America Steel industry grew from 88.077 Billion USD in 2021 to 106.585 Billion USD in 2025 and will record 82.64% growth. In coming future this industry will reach 155.631 Billion by 2033 with a 4.846% CAGR. If we look at the percentage market shares of top South America countries for 2025,Brazil (36.69%), Argentina (19.27%), Colombia (12.33%), Peru (8.55%), Chile (10.07%), Rest of South America (13.09%)
As per the current market study, out of 1527 Billion USD global market revenue 2025, Middle East market holds 5.64% of the market share. The Middle East Steel industry grew from 71.482 Billion USD in 2021 to 86.199 Billion USD in 2025 and will record 82.93% growth. In coming future this industry will reach 124.929 Billion by 2033 with a 4.748% CAGR. If we look at the percentage market shares of top Middle East countries for 2025,Saudi Arabia (27.39%), Turkey (16.09%), UAE (17.49%), Egypt (13.81%), Qatar (10.29%), Rest of Middle East (14.93%)
As per the current market study, out of 1527 Billion USD global market revenue 2025, Africa market holds 4.47% of the market share. The Africa Steel industry grew from 54.888 Billion USD in 2021 to 68.333 Billion USD in 2025 and will record 80.32% growth. In coming future this industry will reach 95.297 Billion by 2033 with a 4.245% CAGR. If we look at the percentage market shares of top Africa countries for 2025,Nigeria (15.39%), South Africa (36.56%), Rest of Africa (48.05%)
2021 | 2025 | 2033 | CAGR | |
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Global Steel Market Sales Revenue | $ 1276.47 Billion | $ 1527 Billion | $ 2185.22 Billion | 4.582% |
North America Steel Market Sales Revenue | $ 202.959 Billion | $ 232.868 Billion | $ 305.93 Billion | 3.47% |
United States Steel Market Sales Revenue | $ 167.035 Billion | $ 190.858 Billion | $ 248.507 Billion | 3.354% |
Canada Steel Market Sales Revenue | $ 20.702 Billion | $ 24.428 Billion | $ 33.989 Billion | 4.215% |
Mexico Steel Market Sales Revenue | $ 15.222 Billion | $ 17.581 Billion | $ 23.434 Billion | 3.657% |
Europe Steel Market Sales Revenue | $ 151.9 Billion | $ 174.078 Billion | $ 233.818 Billion | 3.757% |
United Kingdom Steel Market Sales Revenue | $ 21.57 Billion | $ 25.067 Billion | $ 34.535 Billion | 4.086% |
Germany Steel Market Sales Revenue | $ 30.228 Billion | $ 35.338 Billion | $ 50.037 Billion | 4.444% |
France Steel Market Sales Revenue | $ 20.294 Billion | $ 22.822 Billion | $ 29.368 Billion | 3.202% |
Italy Steel Market Sales Revenue | $ 15.828 Billion | $ 17.93 Billion | $ 23.475 Billion | 3.426% |
Russia Steel Market Sales Revenue | $ 8.415 Billion | $ 9.122 Billion | $ 10.966 Billion | 2.329% |
Spain Steel Market Sales Revenue | $ 14.461 Billion | $ 16.729 Billion | $ 22.914 Billion | 4.011% |
Sweden Steel Market Sales Revenue | $ 9.6 Billion | $ 11.089 Billion | $ 15.093 Billion | 3.929% |
Denmark Steel Market Sales Revenue | $ 5.62 Billion | $ 6.354 Billion | $ 8.324 Billion | 3.434% |
Switzerland Steel Market Sales Revenue | $ 7.792 Billion | $ 8.739 Billion | $ 11.2 Billion | 3.15% |
Luxembourg Steel Market Sales Revenue | $ 1.519 Billion | $ 1.662 Billion | $ 2.02 Billion | 2.466% |
Rest of Europe Steel Market Sales Revenue | $ 16.572 Billion | $ 19.227 Billion | $ 25.886 Billion | 3.787% |
Asia Pacific Steel Market Sales Revenue | $ 707.165 Billion | $ 858.938 Billion | $ 1269.61 Billion | 5.006% |
China Steel Market Sales Revenue | $ 223.464 Billion | $ 273.142 Billion | $ 409.45 Billion | 5.19% |
Japan Steel Market Sales Revenue | $ 112.439 Billion | $ 133.565 Billion | $ 187.395 Billion | 4.324% |
India Steel Market Sales Revenue | $ 85.567 Billion | $ 107.797 Billion | $ 171.397 Billion | 5.968% |
South Korea Steel Market Sales Revenue | $ 60.816 Billion | $ 72.065 Billion | $ 101.442 Billion | 4.367% |
Australia Steel Market Sales Revenue | $ 32.53 Billion | $ 37.278 Billion | $ 49.388 Billion | 3.579% |
Singapore Steel Market Sales Revenue | $ 19.801 Billion | $ 24.566 Billion | $ 37.454 Billion | 5.413% |
South East Asia Steel Market Sales Revenue | $ 64.352 Billion | $ 79.795 Billion | $ 122.264 Billion | 5.479% |
Taiwan Steel Market Sales Revenue | $ 28.287 Billion | $ 33.584 Billion | $ 47.941 Billion | 4.549% |
Rest of APAC Steel Market Sales Revenue | $ 79.91 Billion | $ 97.146 Billion | $ 142.882 Billion | 4.941% |
South America Steel Market Sales Revenue | $ 88.077 Billion | $ 106.585 Billion | $ 155.631 Billion | 4.846% |
Brazil Steel Market Sales Revenue | $ 32.488 Billion | $ 39.101 Billion | $ 56.503 Billion | 4.709% |
Argentina Steel Market Sales Revenue | $ 16.684 Billion | $ 20.542 Billion | $ 31.146 Billion | 5.341% |
Colombia Steel Market Sales Revenue | $ 10.884 Billion | $ 13.143 Billion | $ 18.304 Billion | 4.227% |
Peru Steel Market Sales Revenue | $ 7.575 Billion | $ 9.111 Billion | $ 13.117 Billion | 4.66% |
Chile Steel Market Sales Revenue | $ 8.808 Billion | $ 10.733 Billion | $ 15.921 Billion | 5.052% |
Rest of South America Steel Market Sales Revenue | $ 11.639 Billion | $ 13.954 Billion | $ 20.64 Billion | 5.015% |
Middle East Steel Market Sales Revenue | $ 71.482 Billion | $ 86.199 Billion | $ 124.929 Billion | 4.748% |
Saudi Arabia Steel Market Sales Revenue | $ 19.515 Billion | $ 23.61 Billion | $ 34.43 Billion | 4.829% |
Turkey Steel Market Sales Revenue | $ 11.366 Billion | $ 13.869 Billion | $ 20.701 Billion | 5.133% |
UAE Steel Market Sales Revenue | $ 12.223 Billion | $ 15.076 Billion | $ 22.912 Billion | 5.371% |
Egypt Steel Market Sales Revenue | $ 10.008 Billion | $ 11.904 Billion | $ 16.641 Billion | 4.276% |
Qatar Steel Market Sales Revenue | $ 7.434 Billion | $ 8.871 Billion | $ 12.632 Billion | 4.517% |
Rest of Middle East Steel Market Sales Revenue | $ 10.937 Billion | $ 12.869 Billion | $ 17.614 Billion | 4.002% |
Africa Steel Market Sales Revenue | $ 54.888 Billion | $ 68.333 Billion | $ 95.297 Billion | 4.245% |
Nigeria Steel Market Sales Revenue | $ 8.349 Billion | $ 10.516 Billion | $ 14.943 Billion | 4.489% |
South Africa Steel Market Sales Revenue | $ 19.65 Billion | $ 24.983 Billion | $ 36.613 Billion | 4.894% |
Rest of Africa Steel Market Sales Revenue | $ 26.89 Billion | $ 32.834 Billion | $ 43.741 Billion | 3.65% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Market Restrains:
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Market Trends:
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Report scope is customizable as we have a huge database of Steel industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Steel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Construction and infrastructure projects are expanding fast.
The demand for steel is being greatly influenced by public infrastructure developments, including roads, bridges, railroads, and smart cities, as well as global urbanization. In nations like China, India, and the United States, government-sponsored initiatives are increasing the use of long and structural steel goods.
Growing Automobile and Transportation Industry
Steel's strength, formability, and affordability make it a vital component in the production of automobiles. There is a growing global need for high-strength and lightweight steel grades due to the increase in automotive production, particularly in electric vehicles.
The expansion of the manufacturing sector and industrialization
Steel is essential to shipbuilding, tools, appliances, and machinery. The need for rolled steel, sheets, coils, and specialized alloys is being further fueled by the reshoring of manufacturing in the West and the expansion of industrial activity in emerging nations.
Price volatility for energy and raw materials
For the production of steel, iron ore, coal, and power are essential inputs. Price fluctuations, frequently brought on by trade restrictions, supply chain interruptions, or geopolitical unrest, have a detrimental effect on long-term planning and profit margins.
Strong Environmental Rules and Pressure on Carbon Emissions
Steel production uses a lot of energy and carbon, particularly when using blast furnace technology. Steel companies are being forced to invest in green technologies due to global pressure to cut CO2 emissions, which raises production costs and complicates operations.
Overcapacity Worldwide and Price Variability
Major producers' oversupply, especially from China, often results in price volatility and dumping actions. Regional producers' profitability is put at risk, and trade restrictions and tariffs are imposed as a result, upsetting the dynamics of international trade.
Transition to Low-Carbon and Green Steel Production
To decarbonize their operations, steel producers are investing in carbon capture devices, electric arc furnaces (EAFs), and hydrogen-based steelmaking (such as H2-DRI). For ESG-compliant sourcing, buyers are increasingly searching for low-carbon steel.
Increased Recycling and Use of Scrap Steel
It is the one of the most recycled materials in the world. The transition to secondary steel manufacturing is being accelerated, particularly in developed countries, by increased availability of scrap steel, circular economy initiatives, and decreased energy requirements for recycling.
Innovations in Technology and Intelligent Steel Production
Steel plants are integrating digital tools like artificial intelligence (AI), the Internet of Things (IoT), and predictive analytics to increase output, decrease downtime, and optimize energy use. Increasingly, cost effectiveness and competitiveness depend on smart manufacturing.
We have various report editions of Steel Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Chemical and materials companies are facing some challenges including stringent rules & regulation, supply chain disruption along with raw material price volatility. Thus, some of the key players are adopting new technologies to enhance their product portfolio. Now days digital technologies play an important role in this sector because it improves efficiency, operations and productivity of the plant. This study helps you to understand the competitor’s revenue generation, key strategies, recent development coupled with its S.W.O.T analysis.
Top Companies Market Share in Steel Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
The regional analysis offers Steel market size, share and a detailed analysis for each region. This quantitative as well as qualitative information is crucial for new entrants along with companies operating in Steel market . Steel market production and consumption can vary significantly from one region to another owing to factors such as, the availability of raw materials, regulatory environments, and others.
The current report Scope analyzes Steel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Steel Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Steel Industry growth. Steel market has been segmented with the help of its Type, Application , and others. Steel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Quality management is the major parameter to meet specific standards and specifications, reliability and consistency. The chemical and material industry is full of various types of chemicals and it is necessary to focus on quality management because it may affect environment & other equipment. Raw materials plays an important role in this industry. The chemical industry converts these raw materials into primary, secondary, and tertiary products. Fluctuations in raw material prices may impact the market growth in the near future. This study includes the revenue generation of each type in each region for the year 2021 to 2033. Additionally it also provides detailed supply chain analysis along with current trends in the market which are expected to propel the market growth in the coming year.
Type of Steel analyzed in this report are as follows:
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Chemical and materials are one of the most important industries for other sectors including automotive, pharmaceutical, personal care, consumer goods and others. The demand for high quality and environment friendly products is increasing in various end-use sectors. Thus, key manufacturers are focusing on technological advancement in production of high-quality chemicals. The segment analysis will help to understand which is the most attractive application/end use sector. It also provides the year on year (Y-O-Y) growth rate for each segment. Moreover, this study includes the detailed analysis of each segment to understand the key positive and negative factors which are impacting the growth of the Steel Market.
Some of the key Application of Steel are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research Analyst at Cognitive Market Research
Enthusiastic and analytical market research professional with 2 years of hands-on experience in tracking market trends, evaluating consumer behavior, and supporting strategic decision-making. Proficient in designing surveys, conducting interviews, and synthesizing insights from both primary and secondary sources. Successfully contributed to research projects across sectors such as retail, personal care, and industrial markets. Brings a keen eye for detail, strong data interpretation skills, and a passion for uncovering what drives markets forward. Comfortable working in fast-paced environments and collaborating across departments to deliver clear, actionable findings.
Ashwini Moharir is a market research professional with over 2 years of hands-on experience in delivering strategic insights and data-driven analysis across the healthcare and food & beverage sectors. She specializes in gathering and interpreting market data to support business decisions, product development, and competitive positioning.
With a foundation in teaching and research & development, Ashwini brings a well-rounded perspective that enhances her approach to market analysis. Her ability to combine academic rigor with practical industry knowledge allows her to uncover deeper insights and provide actionable recommendation.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Steel Market is witnessing significant growth in the near future.
In 2023, the Pb-Si-Al Based segment accounted for noticeable share of global Steel Market and is projected to experience significant growth in the near future.
The Semiconductor segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Schott, APK Gas(Shanghai and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Pb-Si-Al Based, Zn-B-Si Based, Pb-Zn-B Based, Others |
Application | Semiconductor, Aerospace & Defense, Microelectronics, Others |
List of Competitors | Schott, Ferro, APK Gas(Shanghai, Nippon Electric Glass, 3M |
This chapter will help you gain GLOBAL Market Analysis of Steel. Further deep in this chapter, you will be able to review Global Steel Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Steel. Further deep in this chapter, you will be able to review North America Steel Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Steel. Further deep in this chapter, you will be able to review Europe Steel Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Steel. Further deep in this chapter, you will be able to review Asia Pacific Steel Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Steel. Further deep in this chapter, you will be able to review South America Steel Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Steel. Further deep in this chapter, you will be able to review Middle East Steel Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Steel. Further deep in this chapter, you will be able to review Middle East Steel Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Steel. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Steel market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 13 Research Methodology and Sources
Why Pb-Si-Al Based have a significant impact on Steel market? |
What are the key factors affecting the Pb-Si-Al Based and Zn-B-Si Based of Steel Market? |
What is the CAGR/Growth Rate of Semiconductor during the forecast period? |
By type, which segment accounted for largest share of the global Steel Market? |
Which region is expected to dominate the global Steel Market within the forecast period? |