Selbyville, Delaware, June 02, 2021 (GLOBE NEWSWIRE) -- As per the findings of the research literature, global special steel market attained a valuation of USD 198.87 billion in 2020 and is touted to register a healthy growth rate during the forecast period 2021-2026. Growing manufacturing sector in line with rising requirement and demand for better material, energy efficiency, and productivity are stimulating the market development.
Proceeding further, the research literature presents a 360-degree outlook of the competitive arena by profiling the renowned players, emerging contenders, and new entrants with respect to financial overview, product/service offerings, and strategic undertakings. Besides, in-depth segmentation studies terms of product type, end-user scope, and geographical bifurcation is hosted in the document. Apart from this, the report attempts to track the impact of Covid-19 so as to fabricate robust strategies that will lend a competitive edge to businesses in the forthcoming years.
Notably, steel demand, steel trade flows, steel supply capacity, and input materials all dictate the sales price of steel worldwide. In recent times, steel prices are becoming increasing volatile and the Covid-19 pandemic has further contributed to this scenario.
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Covid-19 impact summary:
The pandemic has halted the global special steel industry expansion as both the production and consumption of steel slumped. Despite the sudden outbreak of the virus, the steel demand was gaining traction in early 2020 post a challenging second half of 2019 as customers restocked to mitigate future supply disruptions. However, lockdown mandates and restrictions on movement of goods brought several industries to standstill, subsequently plunging the demand for special steel.
End user overview:
Global special steel market end user scope is fragmented into machinery, automotive, petrochemical & energy, and others. Among these, automotive segment is likely to grow significantly in the upcoming years, creditable to increasing global automobile production, along with inflowing R&D investments aimed at new product development, improving energy efficiency, and reducing emissions.
Geographical outlook:
Americas, Europe, and Asia Pacific are the key regional contributors to the overall special steel market value. Asia Pacific industry currently accounts for a sizeable industry share, with countries like India, China, and Japan as the major growth hubs. Rapid growth of the manufacturing sector in conjunction with high domestic demand for superior quality products, and growing exports from other regions will continue to enhance the business landscape in the region.
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Competitive arena review:
Prominent players influencing global special steel industry dynamics are JFE Steel Corp., HBIS Group, Aichi Steel Corp., CITIC Ltd., Baosteel Group, and Nippon Steel Corp. among others. New product development, acquisitions, and geographic expansions are some of the major strategies adopted by these companies to improve their position in the industry.
Global Special Steel Market Type Sub-Segments (Revenue, USD Billion, 2016-2020)
- Bearing Steel
- Gear Steel
- Alloy Steel
- Others
Global Special Steel Market End User Sub-Segments (Revenue, USD Billion, 2016-2020)
- Machinery
- Automotive
- Petrochemical & Energy
- Others
Global Special Steel Market Geographical Segmentation (Revenue, USD Billion, 2016-2020)
Americas
- United States
- Canada
- Brazil
- Mexico
Europe
- Italy
- France
- Germany
Asia Pacific
- India
- China
- Japan
Global Special Steel Market Company Profiles (Revenue, USD Billion, 2016-2020)
- SSAB AB
- ThyssenKrupp AG
- Daido Steel Co., Ltd.
- Voestalpine AG
- Xiwang Special Steel Co. Ltd.
- JFE Steel Corp.
- HBIS Group
- Aichi Steel Corp.
- CITIC Ltd.
- Baosteel Group
- Nippon Steel Corp.
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Special Steel Market: Product Overview
4. Global Special Steel Market: An Analysis
4.1 Market Size, By Value, Year 2016-2020
4.2 Market Size, By Value, Year 2021-2026
4.3 Impact of COVID-19 on Special Steel Market
4.4 Global Economic & Industrial Outlook
5. Global Special Steel Market Segmentation, By Type (Value)
5.1 Global Special Steel Market: Segment Analysis
5.2 Competitive Scenario of Special Steel Market: By Type (2020 & 2026)
5.3 By Gear Steel - Market Size and Forecast (2016-2026)
5.4 By Bearing Steel - Market Size and Forecast (2016-2026)
5.5 By Alloy Steel - Market Size and Forecast (2016-2026)
5.6 By Others - Market Size and Forecast (2016-2026)
6. Global Special Steel Market Segmentation, By End User (Value)
6.1 Global Special Steel Market: Segment Analysis
6.2 Competitive Scenario of Global Special Steel Market: By End User (2020 & 2026)
6.3 By Automotive - Market Size and Forecast (2016-2026)
6.4 By Machinery - Market Size and Forecast (2016-2026)
6.5 By Petrochemical & Energy - Market Size and Forecast (2016-2026)
6.6 By Others - Market Size and Forecast (2016-2026)
7. Global Special Steel Market: Regional Analysis
7.1 Competitive Scenario of Global Special Steel Market: By Region (2020 & 2026)
8. Americas Special Steel Market: An Analysis (2016-2026)
9. Europe Special Steel Market: An Analysis (2016-2026)
10. Asia Pacific Special Steel Market: An Analysis (2016-2026)
11. Global Special Steel Market Dynamics
12. Market Attractiveness and Strategic Analysis
13. Competitive Landscape
14. Company Profiles (Business Description, Financial Analysis, Business Strategy)
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