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Special Steel Market By Type, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031

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  • 240 Pages
  • May 2022
  • Region: Global
  • Allied Market Research
  • ID: 5640443
Description Jump to:
The global special steel market was valued at $195.4 billion in 2021, and is projected to reach $276.8 billion by 2031, growing at a CAGR of 3.5% from 2022 to 2031.

Steel is a combination of two elements that are iron and carbon. Whereas, special steel has specific chemical composition and is produced by adding various value-added elements in finished steel. Special steel is used for manufacturing of parts and various components that are further used in applications such as automotive, machinery, manufacturing, and mining. It is produced to achieve different properties including heat resistance, hardness, corrosion resistance, and high strength. Special steel is available in the market on the basis of product as billets, bars, wire rods, and squares.

The special steel market is driven by rise in demand for high strength steel with better material and energy efficiency for its use in various end user applications. Expansion of power generation, distribution, and transmission network across India and renovation of old grid infrastructure is expected to drive the global special steel market growth during the forecast period. In addition, heavy to small scale industries employ machineries that have specific steel products requirement. Some industries, such as oil & gas, mining, and marine have specialized steel requirements as component strength is important in these sectors, resulting in rise in demand for special steel products during the forecast period. However, special steel has relatively high cost associated with production of special steel, logistic challenges, high capital cost, and fluctuations in raw material prices, which are key factors expected to hamper the market growth during the forecast period.

The global special steel market is segmented on the basis of type, application, and region. Depending on type, the market is bifurcated into stainless steel, structural steel, and tool & die steel. By application, it is divided into automotive, machinery, petrochemicals & energy, railways, aerospace & defense, building & construction, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the special steel market analysis from 2021 to 2031 to identify the prevailing special steel market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the special steel market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global special steel market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments


By Type

  • Stainless Steel
  • Structural Steel
  • Tool and Die Steel

By Application

  • Automotive
  • Machinery and Manufacturing
  • Petrochemicals and Energy
  • Railways
  • Aerospace and Defense
  • Building and Construction
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players

  • Dongbei Special Steel Group
  • Daido Steel Co. Ltd.
  • Hyundai Steel Co., Ltd.
  • Nippon Steel Corporation
  • Aichi Steel Corporation
  • Cleveland Cliffs, Inc.
  • JSW Steel
  • Baosteel Group
  • Jiangsu Shagang Group
  • ArcelorMittal

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Value Chain Analysis
3.8. Patent Landscape
3.9. Key Regulation Analysis
CHAPTER 4: SPECIAL STEEL MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Stainless Steel
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Structural Steel
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Tool and Die Steel
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: SPECIAL STEEL MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Automotive
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Machinery and Manufacturing
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Petrochemicals and Energy
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Railways
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
5.6 Aerospace and Defense
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market analysis by country
5.7 Building and Construction
5.7.1 Key market trends, growth factors and opportunities
5.7.2 Market size and forecast, by region
5.7.3 Market analysis by country
5.8 Others
5.8.1 Key market trends, growth factors and opportunities
5.8.2 Market size and forecast, by region
5.8.3 Market analysis by country
CHAPTER 6: SPECIAL STEEL MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Type
6.2.3 North America Market size and forecast, by Application
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Type
6.2.4.1.2 Market size and forecast, by Application
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Type
6.2.4.2.2 Market size and forecast, by Application
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Type
6.2.4.3.2 Market size and forecast, by Application
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Type
6.3.3 Europe Market size and forecast, by Application
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Type
6.3.4.1.2 Market size and forecast, by Application
6.3.4.2 France
6.3.4.2.1 Market size and forecast, by Type
6.3.4.2.2 Market size and forecast, by Application
6.3.4.3 U.K.
6.3.4.3.1 Market size and forecast, by Type
6.3.4.3.2 Market size and forecast, by Application
6.3.4.4 Italy
6.3.4.4.1 Market size and forecast, by Type
6.3.4.4.2 Market size and forecast, by Application
6.3.4.5 Spain
6.3.4.5.1 Market size and forecast, by Type
6.3.4.5.2 Market size and forecast, by Application
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Type
6.3.4.6.2 Market size and forecast, by Application
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Type
6.4.3 Asia-Pacific Market size and forecast, by Application
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Type
6.4.4.1.2 Market size and forecast, by Application
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Type
6.4.4.2.2 Market size and forecast, by Application
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Type
6.4.4.3.2 Market size and forecast, by Application
6.4.4.4 Australia
6.4.4.4.1 Market size and forecast, by Type
6.4.4.4.2 Market size and forecast, by Application
6.4.4.5 South Korea
6.4.4.5.1 Market size and forecast, by Type
6.4.4.5.2 Market size and forecast, by Application
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Market size and forecast, by Type
6.4.4.6.2 Market size and forecast, by Application
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Type
6.5.3 LAMEA Market size and forecast, by Application
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Type
6.5.4.1.2 Market size and forecast, by Application
6.5.4.2 UAE
6.5.4.2.1 Market size and forecast, by Type
6.5.4.2.2 Market size and forecast, by Application
6.5.4.3 Saudi Arabia
6.5.4.3.1 Market size and forecast, by Type
6.5.4.3.2 Market size and forecast, by Application
6.5.4.4 South Africa
6.5.4.4.1 Market size and forecast, by Type
6.5.4.4.2 Market size and forecast, by Application
6.5.4.5 Rest of LAMEA
6.5.4.5.1 Market size and forecast, by Type
6.5.4.5.2 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Dongbei Special Steel Group
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Daido Steel Co. Ltd.
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Hyundai Steel Co., Ltd.
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Nippon Steel Corporation
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Aichi Steel Corporation
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Cleveland Cliffs, Inc.
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 JSW Steel
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Baosteel Group
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Jiangsu Shagang Group
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 ArcelorMittal
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
LIST OF TABLES
Table 1. Global Special Steel Market, by Type, 2021-2031, ($Million)
Table 2. Special Steel Market Revenue, for Stainless Steel, by Region, 2021-2031, ($Million)
Table 3. Special Steel Market for Stainless Steel by Country, 2021-2031, ($Million)
Table 4. Special Steel Market Revenue, for Structural Steel, by Region, 2021-2031, ($Million)
Table 5. Special Steel Market for Structural Steel by Country, 2021-2031, ($Million)
Table 6. Special Steel Market Revenue, for Tool and Die Steel, by Region, 2021-2031, ($Million)
Table 7. Special Steel Market for Tool and Die Steel by Country, 2021-2031, ($Million)
Table 8. Global Special Steel Market, by Application, 2021-2031, ($Million)
Table 9. Special Steel Market Revenue, for Automotive, by Region, 2021-2031, ($Million)
Table 10. Special Steel Market for Automotive by Country, 2021-2031, ($Million)
Table 11. Special Steel Market Revenue, for Machinery and Manufacturing, by Region, 2021-2031, ($Million)
Table 12. Special Steel Market for Machinery and Manufacturing by Country, 2021-2031, ($Million)
Table 13. Special Steel Market Revenue, for Petrochemicals and Energy, by Region, 2021-2031, ($Million)
Table 14. Special Steel Market for Petrochemicals and Energy by Country, 2021-2031, ($Million)
Table 15. Special Steel Market Revenue, for Railways, by Region, 2021-2031, ($Million)
Table 16. Special Steel Market for Railways by Country, 2021-2031, ($Million)
Table 17. Special Steel Market Revenue, for Aerospace and Defense, by Region, 2021-2031, ($Million)
Table 18. Special Steel Market for Aerospace and Defense by Country, 2021-2031, ($Million)
Table 19. Special Steel Market Revenue, for Building and Construction, by Region, 2021-2031, ($Million)
Table 20. Special Steel Market for Building and Construction by Country, 2021-2031, ($Million)
Table 21. Special Steel Market Revenue, for Others, by Region, 2021-2031, ($Million)
Table 22. Special Steel Market for Others by Country, 2021-2031, ($Million)
Table 23. Special Steel Market, by Region, 2021-2031, ($Million)
Table 24. North America Special Steel Market, by Type, 2021-2031, ($Million)
Table 25. North America Special Steel Market, by Application, 2021-2031, ($Million)
Table 26. North America Special Steel Market, by Country, 2021-2031, ($Million)
Table 27. U.S. Special Steel Market, by Type, 2021-2031, ($Million)
Table 28. U.S. Special Steel Market, by Application, 2021-2031, ($Million)
Table 29. Canada Special Steel Market, by Type, 2021-2031, ($Million)
Table 30. Canada Special Steel Market, by Application, 2021-2031, ($Million)
Table 31. Mexico Special Steel Market, by Type, 2021-2031, ($Million)
Table 32. Mexico Special Steel Market, by Application, 2021-2031, ($Million)
Table 33. Europe Special Steel Market, by Type, 2021-2031, ($Million)
Table 34. Europe Special Steel Market, by Application, 2021-2031, ($Million)
Table 35. Europe Special Steel Market, by Country, 2021-2031, ($Million)
Table 36. Germany Special Steel Market, by Type, 2021-2031, ($Million)
Table 37. Germany Special Steel Market, by Application, 2021-2031, ($Million)
Table 38. France Special Steel Market, by Type, 2021-2031, ($Million)
Table 39. France Special Steel Market, by Application, 2021-2031, ($Million)
Table 40. U.K. Special Steel Market, by Type, 2021-2031, ($Million)
Table 41. U.K. Special Steel Market, by Application, 2021-2031, ($Million)
Table 42. Italy Special Steel Market, by Type, 2021-2031, ($Million)
Table 43. Italy Special Steel Market, by Application, 2021-2031, ($Million)
Table 44. Spain Special Steel Market, by Type, 2021-2031, ($Million)
Table 45. Spain Special Steel Market, by Application, 2021-2031, ($Million)
Table 46. Rest of Europe Special Steel Market, by Type, 2021-2031, ($Million)
Table 47. Rest of Europe Special Steel Market, by Application, 2021-2031, ($Million)
Table 48. Asia-Pacific Special Steel Market, by Type, 2021-2031, ($Million)
Table 49. Asia-Pacific Special Steel Market, by Application, 2021-2031, ($Million)
Table 50. Asia-Pacific Special Steel Market, by Country, 2021-2031, ($Million)
Table 51. China Special Steel Market, by Type, 2021-2031, ($Million)
Table 52. China Special Steel Market, by Application, 2021-2031, ($Million)
Table 53. Japan Special Steel Market, by Type, 2021-2031, ($Million)
Table 54. Japan Special Steel Market, by Application, 2021-2031, ($Million)
Table 55. India Special Steel Market, by Type, 2021-2031, ($Million)
Table 56. India Special Steel Market, by Application, 2021-2031, ($Million)
Table 57. Australia Special Steel Market, by Type, 2021-2031, ($Million)
Table 58. Australia Special Steel Market, by Application, 2021-2031, ($Million)
Table 59. South Korea Special Steel Market, by Type, 2021-2031, ($Million)
Table 60. South Korea Special Steel Market, by Application, 2021-2031, ($Million)
Table 61. Rest of Asia-Pacific Special Steel Market, by Type, 2021-2031, ($Million)
Table 62. Rest of Asia-Pacific Special Steel Market, by Application, 2021-2031, ($Million)
Table 63. LAMEA Special Steel Market, by Type, 2021-2031, ($Million)
Table 64. LAMEA Special Steel Market, by Application, 2021-2031, ($Million)
Table 65. LAMEA Special Steel Market, by Country, 2021-2031, ($Million)
Table 66. Brazil Special Steel Market, by Type, 2021-2031, ($Million)
Table 67. Brazil Special Steel Market, by Application, 2021-2031, ($Million)
Table 68. UAE Special Steel Market, by Type, 2021-2031, ($Million)
Table 69. UAE Special Steel Market, by Application, 2021-2031, ($Million)
Table 70. Saudi Arabia Special Steel Market, by Type, 2021-2031, ($Million)
Table 71. Saudi Arabia Special Steel Market, by Application, 2021-2031, ($Million)
Table 72. South Africa Special Steel Market, by Type, 2021-2031, ($Million)
Table 73. South Africa Special Steel Market, by Application, 2021-2031, ($Million)
Table 74. Rest of LAMEA Special Steel Market, by Type, 2021-2031, ($Million)
Table 75. Rest of LAMEA Special Steel Market, by Application, 2021-2031, ($Million)
Table 76. Dongbei Special Steel Group: Company Snapshot
Table 77. Dongbei Special Steel Group: Operating Segments
Table 78. Dongbei Special Steel Group: Product Portfolio
Table 79. Dongbei Special Steel Group: Net Sales
Table 80. Dongbei Special Steel Group: Key Stratergies
Table 81. Daido Steel Co. Ltd.: Company Snapshot
Table 82. Daido Steel Co. Ltd.: Operating Segments
Table 83. Daido Steel Co. Ltd.: Product Portfolio
Table 84. Daido Steel Co. Ltd.: Net Sales
Table 85. Daido Steel Co. Ltd.: Key Stratergies
Table 86. Hyundai Steel Co., Ltd.: Company Snapshot
Table 87. Hyundai Steel Co., Ltd.: Operating Segments
Table 88. Hyundai Steel Co., Ltd.: Product Portfolio
Table 89. Hyundai Steel Co., Ltd.: Net Sales
Table 90. Hyundai Steel Co., Ltd.: Key Stratergies
Table 91. Nippon Steel Corporation: Company Snapshot
Table 92. Nippon Steel Corporation: Operating Segments
Table 93. Nippon Steel Corporation: Product Portfolio
Table 94. Nippon Steel Corporation: Net Sales
Table 95. Nippon Steel Corporation: Key Stratergies
Table 96. Aichi Steel Corporation: Company Snapshot
Table 97. Aichi Steel Corporation: Operating Segments
Table 98. Aichi Steel Corporation: Product Portfolio
Table 99. Aichi Steel Corporation: Net Sales
Table 100. Aichi Steel Corporation: Key Stratergies
Table 101. Cleveland Cliffs, Inc.: Company Snapshot
Table 102. Cleveland Cliffs, Inc.: Operating Segments
Table 103. Cleveland Cliffs, Inc.: Product Portfolio
Table 104. Cleveland Cliffs, Inc.: Net Sales
Table 105. Cleveland Cliffs, Inc.: Key Stratergies
Table 106. Jsw Steel: Company Snapshot
Table 107. Jsw Steel: Operating Segments
Table 108. Jsw Steel: Product Portfolio
Table 109. Jsw Steel: Net Sales
Table 110. Jsw Steel: Key Stratergies
Table 111. Baosteel Group: Company Snapshot
Table 112. Baosteel Group: Operating Segments
Table 113. Baosteel Group: Product Portfolio
Table 114. Baosteel Group: Net Sales
Table 115. Baosteel Group: Key Stratergies
Table 116. Jiangsu Shagang Group: Company Snapshot
Table 117. Jiangsu Shagang Group: Operating Segments
Table 118. Jiangsu Shagang Group: Product Portfolio
Table 119. Jiangsu Shagang Group: Net Sales
Table 120. Jiangsu Shagang Group: Key Stratergies
Table 121. Arcelormittal: Company Snapshot
Table 122. Arcelormittal: Operating Segments
Table 123. Arcelormittal: Product Portfolio
Table 124. Arcelormittal: Net Sales
Table 125. Arcelormittal: Key Stratergies
LIST OF FIGURES
Figure 1. Special Steel Market Segmentation
Figure 2. Special Steel Market, 2021-2031
Figure 3. Special Steel Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Special Steel Market:Drivers, Restraints and Opportunities
Figure 12. Value Chain Analysis
Figure 13. Patent Analysis by Company
Figure 14. Patent Analysis by Country
Figure 15. Key Regulation Analysis
Figure 16. Special Steel Market, by Type, 2021 (%)
Figure 17. Comparative Share Analysis of Stainless Steel Special Steel Market, 2021-2031 (%)
Figure 18. Comparative Share Analysis of Structural Steel Special Steel Market, 2021-2031 (%)
Figure 19. Comparative Share Analysis of Tool and Die Steel Special Steel Market, 2021-2031 (%)
Figure 20. Special Steel Market, by Application, 2021 (%)
Figure 21. Comparative Share Analysis of Automotive Special Steel Market, 2021-2031 (%)
Figure 22. Comparative Share Analysis of Machinery and Manufacturing Special Steel Market, 2021-2031 (%)
Figure 23. Comparative Share Analysis of Petrochemicals and Energy Special Steel Market, 2021-2031 (%)
Figure 24. Comparative Share Analysis of Railways Special Steel Market, 2021-2031 (%)
Figure 25. Comparative Share Analysis of Aerospace and Defense Special Steel Market, 2021-2031 (%)
Figure 26. Comparative Share Analysis of Building and Construction Special Steel Market, 2021-2031 (%)
Figure 27. Comparative Share Analysis of Others Special Steel Market, 2021-2031 (%)
Figure 28. Special Steel Market by Region, 2021
Figure 29. U.S. Special Steel Market, 2021-2031 ($Million)
Figure 30. Canada Special Steel Market, 2021-2031 ($Million)
Figure 31. Mexico Special Steel Market, 2021-2031 ($Million)
Figure 32. Germany Special Steel Market, 2021-2031 ($Million)
Figure 33. France Special Steel Market, 2021-2031 ($Million)
Figure 34. U.K. Special Steel Market, 2021-2031 ($Million)
Figure 35. Italy Special Steel Market, 2021-2031 ($Million)
Figure 36. Spain Special Steel Market, 2021-2031 ($Million)
Figure 37. Rest of Europe Special Steel Market, 2021-2031 ($Million)
Figure 38. China Special Steel Market, 2021-2031 ($Million)
Figure 39. Japan Special Steel Market, 2021-2031 ($Million)
Figure 40. India Special Steel Market, 2021-2031 ($Million)
Figure 41. Australia Special Steel Market, 2021-2031 ($Million)
Figure 42. South Korea Special Steel Market, 2021-2031 ($Million)
Figure 43. Rest of Asia-Pacific Special Steel Market, 2021-2031 ($Million)
Figure 44. Brazil Special Steel Market, 2021-2031 ($Million)
Figure 45. Uae Special Steel Market, 2021-2031 ($Million)
Figure 46. Saudi Arabia Special Steel Market, 2021-2031 ($Million)
Figure 47. South Africa Special Steel Market, 2021-2031 ($Million)
Figure 48. Rest of LAMEA Special Steel Market, 2021-2031 ($Million)
Figure 49. Top Winning Strategies, by Year
Figure 50. Top Winning Strategies, by Development
Figure 51. Top Winning Strategies, by Company
Figure 52. Product Mapping of Top 10 Players
Figure 53. Competitive Dashboard
Figure 54. Competitive Heatmap of Top 10 Key Players
Figure 55. Dongbei Special Steel Group.: Net Sales, ($Million)
Figure 56. Daido Steel Co. Ltd. Net Sales, ($Million)
Figure 57. Hyundai Steel Co. Ltd. Net Sales, ($Million)
Figure 58. Nippon Steel Corporation.: Net Sales, ($Million)
Figure 59. Aichi Steel Corporation.: Net Sales, ($Million)
Figure 60. Cleveland Cliffs, Inc. Net Sales, ($Million)
Figure 61. Jsw Steel.: Net Sales, ($Million)
Figure 62. Baosteel Group.: Net Sales, ($Million)
Figure 63. Jiangsu Shagang Group.: Net Sales, ($Million)
Figure 64. Arcelormittal.: Net Sales, ($Million)

Executive Summary

According to this report titled, 'Special Steel Market,' the special steel market size was valued at $195.4 billion in 2021, and is estimated to reach $276.8 billion by 2031, growing at a CAGR of 3.5% from 2022 to 2031.

Special steel is a unique alloy or chemical composition formed via distinct and superior production process. It possesses higher strength, more toughness, better physical & chemical properties, biocompatibility, and performance compared to ordinary steel. This steel is mainly available in the market in the form of cake, ring, rod, tube, wire, strip, forging, casting, and others with a wide range of dimensions and extreme purity. In addition, special steel has special microstructure, uniform quality, high dimensional accuracy, and outstanding surface quality.

Significant development of automotive & machinery, and building & construction activities propels growth of the special steel market. In addition, increase in demand for special steel products from applications such as manufacturing, food processing, and agriculture drives growth of the market, globally. However, high cost associated with special steel production restrain the market growth during the forecast period. On the contrary, rapid growth of electric vehicles, renewable energy, and building & construction industry across the globe is expected to provide potential growth opportunities in the special steel market in the coming years.

Depending on type, the structural steel segment registered the highest market share of about 41.8% in 2021, and is expected to maintain its dominance during special steel market forecast period. This is attributed to rise in demand for structural steel from building & construction, automotive, and machinery industry in developing economies such as China and India, which is expected to fuel growth of the market during the forecast period. Structural steel is used in large facades, walls, and other materials. Real estate companies are constructing various malls and office areas, which also acts as a growth driver for the structural special steel market.

On the basis of application, the automotive segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 3.9%. This is attributed to rise in demand for passenger and commercial vehicles from various consumers across the globe. In addition, rapid growth of the EV industry and government initiatives toward promotion of the EV sector is further expected to be the key driving factor for the global special steel market in the coming years.

On the basis of region, the market is analyzed across four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered a dominant share in 2021, and is anticipated to maintain this dominance in the special steel market during the forecast period. This is attributed to presence of key players and huge consumer base in the region.

In addition, special steel is gaining importance, owing to increase in demand from electric vehicles, building & construction, railways, and others in Asian economies and rapid urbanization in the region which, in turn, is expected to augment growth of the special steel market during the forecast period. The global special steel market analysis covers in-depth information of the major special steel industry participants.

The key players operating and profiled in the report include Aichi Steel Corporation, Cleveland Cliffs, Inc., ArcelorMittal S.A., Baosteel Stainless Steel Co., Ltd., Nippon Steel Corporation, Jiangsu Shagang Group, Dongbei Special Steel, Hyundai Steel Co. Ltd., Daido Steel Co., Ltd., and JSW Steel.

Other players operating in the value chain of the global special steel market include TISCO, JFE, Gerdau S.A., Sanyo Co., Ltd, Thyssenkrupp AG, U.S. Steel International, Inc., Xinning Special Steel Co., Ltd., and others.

Companies Mentioned

  • Dongbei Special Steel Group
  • Daido Steel Co. Ltd.
  • Hyundai Steel Co., Ltd.
  • Nippon Steel Corporation
  • Aichi Steel Corporation
  • Cleveland Cliffs, Inc.
  • JSW Steel
  • Baosteel Group
  • Jiangsu Shagang Group
  • ArcelorMittal

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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Table Information

Report AttributeDetails
No. of Pages240
PublishedMay 2022
Forecast Period2021 - 2031
Estimated Market Value ( USD ) in 2021 $ 195.4 billion
Forecasted Market Value ( USD ) by 2031 $ 276.8 billion
Compound Annual Growth Rate3.5%
Regions CoveredGlobal
No. of Companies Mentioned10

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