Basic Steel Processing in the UK - Industry Market Research Report

Melting steel: Industry revenue is expected to fall in the current year due to inflated costs

Over the five years through 2022-23, revenue is expected to grow at a compound annual rate of 5.7%. The oversupply of cheap steel on the global market has threatened revenue but also lowered costs. A strong recovery in the construction sector has driven the growth in steel processing following the COVID-19 outbreak. Steel product manufacturers struggled with foreign steel import quotas and while there are no longer tariffs on UK steel exported to the US, EU restrictions have been damaging. Firms in this industry manufacture a range of steel products, such as bars, strip, sections and wire. All products are manufactured by using cold processing methods, such as cold rolling, forming and drawing. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.