India’s Steel Imports to See 20% CAGR Growth during FY2011-FY2013

As per our recent research report "Indian Steel Industry Outlook to 2012", Indian steel market has continued to post robust growth despite unfavorable economic conditions across the world. The finished steel consumption significantly surpassed the production levels and reached more than 56 Million Metric Tons in FY 2010, which resulted in import surge.  As per our estimations, India's steel import is expected to grow at a CAGR of 20% during FY2011-FY2013.

The research on the industry identified various decisive trends currently prevailing in the market and driving it towards notable future growth prospects. As discussed in the report, India's domestic demand has been growing at phenomenal rate for past few years, thus making import of finished steel inevitable.

However, on exports front, the industry has been continuously facing declining trends in recent years. In FY2010, exports recorded further drop due to the ailing demand in western countries and billions of dollars worth construction projects halts in Middle East. Amid its thriving domestic demand, the country has become a net importer of steel, and we anticipate this trend to continue in coming years also.

The report reveals that stainless steel segment is growing at a fast pace and is expected to be the preferred product category in future for ultramodern construction developments. Its intense use in the metro railways and railway platforms will keep the flat stainless product demand high in coming years, and the segment will grow at an impressive CAGR during our forecast period.

"Indian Steel Industry Outlook to 2012" is an outcome of extensive research and profound analysis on the Indian steel industry. The report provides detailed analysis of the forces which have led the industry towards remarkable developments in the past few years. The report also provides detailed evaluation and future outlook of various vertical industry segments, including automotive, aerospace and marine, consumer durables, power, railways, telecom, and housing industries.

For more information visit: http://www.rncos.com/Report/IM182.htm