In India, the steel industry plays a significant role in the economic growth. The country is the world’s fifth largest steel producer and aims at becoming the second largest in near future. With increase in the demand from automobile, construction, household and manufacturing sectors, the finished steel consumption in the country is expected to grow in the coming years. According to RNCOS new research report “Indian Steel Industry Outlook to 2012”, new applications will further increase the steel consumption in India. The research firm estimates in the study that the finished steel consumption will grow at a CAGR of around 12% during FY 2012 - FY 2014.
India has acquired a central position on the global steel map with its giant steel mills, acquisition of global-scale capacities by players, continuous modernization, and improvement in energy efficiency. Steel companies from across the world have shown interest in the Indian steel industry due to its phenomenal performance. The report highlights the fact that the crude steel production in India registered a year-on-year growth of 6.4% in 2010. The Indian Government’s support to infrastructure development in both rural and urban cities has been creating a significant demand for steel. The research also indicates that steel variant stainless steel has been finding innovative applications due to its corrosion resistive property.
In the report, which is an outcome of an extensive research and conceptual analysis of the Indian steel industry, detailed information and statistics on the industry has been included. Presenting an insight into the future outlook of various verticals, including automotive, aerospace, marine, power, railways, telecom, and housing, the study classifies the finished steel product market into two categories-- alloy and non-alloy. The research also covers information on industry-wise steel demand, overall steel consumption, production, and trading market. Besides, it provides forecasts for different market segments.
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