The US steel industry is among the largest steel industry across the globe in terms of both production and consumption. The country ranked third globally in 2010 with nearly 6% share in crude steel production. The industry has benefited from soaring steel demand in the automobile and construction sectors. Moreover, the cost effective and highly efficient steel making technologies worked as a catalyst and uplifted the US steel demand in the Middle Eastern and Asian countries.
According to our new research report “US Steel Industry Outlook”, the US steel industry has regained its momentum and is playing an important role in the overall economic development. This can be attributed to the stupendously increased production and consumption level in 2010 with respect to the previous year. Further, crude steel production reached to 80.6 Million Metric Tons in 2010, while consumption reached to an estimated level of 99 Million Metric Tons. We expect that, the trend will continue in future also due to the increase in consumption from various industrial sectors.
As per our research, construction sector accounts for the maximum share in the overall steel consumption. It is the material of choice of various sections of construction industry due to its strength, reliability, strong performance, consistency, and versatility in designing. US Architects and engineers are increasingly preferring this material over others for the construction of residential and commercial buildings. Besides, other market classes, such as automobile, energy, container etc. have contributed to the rising consumption of steel.
“US Steel Industry Outlook” is an outcome of comprehensive research and unbiased analysis of the US steel industry and its various segments to present a clear picture of the past and present market trends. It evaluates the existing market opportunities in relation with the factors driving steel demand. The report also contains information about steel pricing and government stimulus package to bring the industry back on growth track.
Additionally, the report has presented projections for steel demand across different vertical industries to provide a rough idea about the direction, in which, the steel industry is likely to move in future. The competitive landscape segment mainly focuses on key industry players and provides valuable information about their business description together with SWOT analysis.