Global Steel Ingots Market Report and Forecast 2023-2028

Global Steel Ingots Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global steel ingots market is projected to grow at a CAGR of 4.28% between 2023 and 2028. Aided by the escalating demand for durable construction materials and steel's unmatched versatility in various industrial applications, the market is expected to grow significantly by 2028.

Steel ingots, primeval blocks of steel cast from molten steel by a method known as 'continuous casting', are pivotal in the manufacture of long products like forged materials, rails, and other structures. These ingots, once solidified, often undergo further forging or milling to produce the final steel products. Their inherent strength, malleability, and resistance to external agents make them indispensable in modern-day constructions and machinery.

The exponential growth of urbanisation and the push for infrastructural developments, especially in burgeoning economies, has significantly spurred the steel ingots market demand. Steel's unparalleled strength and adaptability ensure it remains the cornerstone of skyscrapers, bridges, and other monumental structures that define today's metropolitan landscapes.

The ongoing technological strides in metallurgy have further solidified market dynamics. Enhanced techniques now allow the production of specialised steel grades tailored to unique industrial needs, thereby diversifying the potential application spectrum for steel ingots.

Additionally, the global momentum towards sustainable and resilient infrastructure, primarily post calamities, has heightened the demand for quality steel, thereby, providing impetus to the stell ingots market growth. Steel ingots, being the precursor to high-grade steel, thus experience an augmented demand, especially from disaster-prone regions.

Several sectors are progressively adopting steel ingots, underlining their ever-growing importance. In the realm of transportation, be it in the manufacturing of robust railway tracks or ship bodies, steel ingots form the foundational raw material. Their ability to withstand substantial wear and tear ensures longevity and durability of the final product.

In the heavy machinery domain, the intrinsic properties of steel ingots, such as high tensile strength and resistance to external forces, become quintessential. From the giant turbines in hydroelectric plants to the cranes in shipping docks, steel ingots provide the required robustness and resilience, thus adding further value to the steel ingots market size.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type
  • Stainless Steel
  • Mild Steel
Market Breakup by Application
  • Construction
  • Automotive and Aerospace
  • Energy
  • Engineering
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global steel ingots market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Industeel (ArcelorMittal S.A.)
  • Tata Steel Limited
  • Nippon Steel Corporation
  • Sandvik AB
  • Outokumpu
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Steel Ingots Market Analysis
8.1 Key Industry Highlights
8.2 Global Steel Ingots Historical Market (2018-2022)
8.3 Global Steel Ingots Market Forecast (2023-2028)
8.4 Global Steel Ingots Market by Type
8.4.1 Stainless Steel
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Mild Steel
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Steel Ingots Market by Application
8.5.1 Construction
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Automotive and Aerospace
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Energy
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Engineering
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Steel Ingots Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code- 7206)
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Industeel (ArcelorMittal S.A.)
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Tata Steel Limited
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Nippon Steel Corporation
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Sandvik AB
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Outokumpu
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Industry Events and Developments

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