Global steelmakers are gradually shifting from blast furnace to Electric Arc Furnace (EAF) to manufacture steel. EAF requires much lower investment, uses lower chemical reaction and offers higher efficiency compared to a blast furnace. The use of EAF enables steelmakers to produce steel from 100% scrap metal feedstock, reducing the overall energy consumed to produce steel as compared to steel made from ores.
THE BUSINESS RESEARCH COMPANY VALUED THE CRUDE STEEL MARKET AT $2 TRILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for more than half of the global market. China was the largest country accounting for one-third of the global crude steel market.
According to The Business Research Company’s Consultant, Nitin Gianchandani, Global steelmakers are gradually shifting from the blast furnace to Electric Arc Furnace (EAF) to manufacture steel. EAF requires much lower investment, uses lower chemical reaction and offers higher efficiency compared to a blast furnace. The use of EAF enables steelmakers to produce steel from 100% scrap metal feedstock, reducing the overall energy consumed to produce steel as compared to steel made from ores.
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ArcelorMittal S.A. was the biggest player in the crude steel market, with revenues worth $56 billion in 2016. ArcelorMittal’s growth strategy aims at manufacturing lighter steel to keep pace with the increasing demand for lighter vehicles from automobile manufacturers.
The crude steel market includes establishments making steel, manufacturing shapes and forming pipe and tube. This is consumed highly in the manufacturing of railroad tracks, building and construction, nuclear infrastructure, and household appliances.
Crude Steel Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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