US steel industry is one of the world’s largest steel industries both in terms of production and consumption. In 2011, the country secured third position, globally with nearly 5.7% 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 international markets.
According to our new research report, “US Steel Industry Outlook to 2015”, the US steel industry has been playing an important role in the overall economic development. This can be attributed to the increased production and consumption level in 2011 with respect to the previous year. Further, crude steel production increased more than 7% in 2011, while consumption increased around 11% during the same period. We expect that, the trend will continue in future also due to the increase in consumption from various industrial sectors.
As per our research, continuous cast steel process accounts for major steel production in United Sates. Product-wise, flat products’ production accounts for the major share in total steel production, followed by long products and seamless tubes. Our report covers the further break up of long products production into concrete reinforcing bars, bars and wire rods and flat products into electrical sheet & strip, tinmill and other metallic coated sheet & strip.
In addition, the consumption section in the report covers the consumption by type of product, which represents that flat products account for the major share in total steel consumption in the country. Further, the report covers the finished steel consumption by product including stainless steel sheet or strip, plate, bar, rod and wire.
While analyzing the gathered information, it was found that, 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 increasingly prefer steel over others for the construction of residential and commercial buildings. In addition, other market classes, such as automobile, energy, container etc. have contributed to the rising consumption of steel.
Our report “US Steel Industry Outlook to 2015” 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 financial analysis.