United States Crude Steel Industry: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
The US crude steel market is forecasted to reach US$110.0 billion in 2026, experiencing growth at a CAGR of 6.12% during the period spanning from 2022 to 2026. Growth in the US crude steel market has been supported by factors such as booming automobile industry and accelerating urban population. The United States-Mexico-Canada Agreement (USMCA) is likely to have a positive impact on US crude steel market. However, the market growth is expected to be restrained by increasing problem of excess crude steelmaking capacity.
The US crude steel market by production process can be segmented into the following segments: electric arc furnace and basic oxygen furnace. In 2021, the dominant share of US crude steel market was held by: electric arc furnace, followed by basic oxygen furnace. The US crude steel market by chemical composition can be segmented as follows: carbon steel, alloy steel, stainless steel and tool steel. The largest share of the market was held by carbon steel, followed by alloy steel, stainless steel and tool steel. The US crude steel market by steel mill products can be segmented as follows: flat steel products and long steel products. The largest share of the market is held by flat steel products, followed by long steel products.
The US crude steel market by end user industry can be segmented into the following segments: construction, automotive, machinery/ equipment, energy, appliances and other applications. In 2021, the dominant share of market was held by construction industry, followed by automotive, machinery/ equipment industry. Factors such increased construction and infrastructure projects and booming oil and gas industry helped in boosting market growth of the US crude steel market.
Scope of the report:
- The report provides a comprehensive analysis of the US crude steel market with potential impact of COVID-19.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The company profiles of leading players (Cleveland Cliffs, Inc., Commercial Metals Company, Nucor Corporation, Steel Dynamics Inc., United States Steel Corporation and Reliance Steel and Aluminum Co.) are also presented in detail.
- Steel Manufacturers
- Raw Material Providers
- End Users (Businesses/ Consumers)
- Investment Banks
- Government Bodies & Regulating Authorities
- 1. Market Overview
- 1.1 Introduction- Steel
- Table 1: Applications of Steel
- 1.2 Types of Steel
- Table 2: Types of Steel
- 1.3 Steel Products
- Table 3: Types of Steel Products
- 1.3.1 Flat Steel Products
- 1.3.2 Long Steel Products
- 1.3.3 Stainless Steel Products
- Table 4: Applications of Stainless Steel
- 1.4 Value Chain Analysis
- Table 5: Value Chain Analysis
- 1.5 Advantages of Steel
- Table 6: Advantages of Steel
- 1.6 Disadvantages of Steel
- Table 7: Disadvantages of Steel
- 2. Impact of COVID- 19
- 2.1 Impact of COVID-19 on US Steel Industry
- 2.2 Price Volatility
- Table 8: The US Midwest Domestic Hot-Rolled Coil Steel Price (Jan 2017- Jan 2021)
- 2.3 Reduced Demand of Steel
- Table 9: Global Apparent Steel Use of Finished Steel Products (2016- 2020)
- 2.4 Impact of COVID-19 on US Automotive Industry
- Table 10: The US Motor Vehicle Domestic Sales and Production (2017- 2020)
- 3. Market Analysis
- 3.1 The US Crude Steel Market Value
- 3.1.1 The US Crude Steel Market by Value
- Table 11: The US Crude Steel Market by Value (2017-2021)
- 3.1.2 The US Crude Steel Market Forecast by Value
- Table 12: The US Crude Steel Market Forecast by Value (2022-2026)
- 3.1.3 The US Crude Steel Market Value by Chemical Composition
- Table 13: The US Crude Steel Market Value by Chemical Composition (2021)
- 3.1.4 The US Crude Steel (by Chemical Composition) Market by Value
- Table 14: The US Crude Steel (by Chemical Composition) Market by Value (2017-2021)
- 3.1.5 The US Crude Steel (by Chemical Composition) Market Forecast by Value
- Table 15: The US Crude Steel (by Chemical Composition) Market Forecast by Value (2022-2026)
- 3.2 The US Crude Steel Market by Chemical Composition
- 3.2.1 The US Carbon Steel Market by Type
- Table 16: The US Carbon Steel Market by Type (2021)
- 3.2.2 The US Carbon Steel Type Market by Value
- Table 17: The US Carbon Steel Type Market by Value (2017-2021)
- 3.2.3 The US Carbon Steel Type Market Forecast by Value
- Table 18: The US Carbon Steel Type Market Forecast by Value (2022-2026)
- 3.2.4 The US Stainless Steel Market by Grade
- Table 19: The US Stainless Steel Market by Grade (2021)
- 3.2.5 The US Stainless Steel Grade Market by Value
- Table 20: The US Stainless Steel Grade Market by Value (2017-2021)
- 3.2.6 The US Stainless Steel Grade Market Forecast by Value
- Table 21: The US Stainless Steel Grade Market Forecast by Value (2022-2026)
- 3.3 The US Crude Steel Market by Volume
- 3.3.1 The US Crude Steel Production
- Table 22: The US Crude Steel Production (2017-2021)
- 3.3.2 The US Crude Steel Production Forecast
- Table 23: The US Crude Steel Production Forecast (2022-2026)
- 3.3.3 The US Apparent Crude Steel Consumption by Volume
- Table 24: The US Apparent Crude Steel Consumption by Volume (2017-2021)
- 3.4 The US Crude Steel Market by Production Process
- Table 25: The US Crude Steel Market by Production Process (2021)
- 3.4.1 The US Crude Steel Production Volume by Process
- Table 26: The US Crude Steel Production Volume by Process (2017-2021)
- 3.5 The US Crude Steel Market by Steel Mill Products
- Table 27: The US Crude Steel Market by Steel Mill Products (2021)
- 3.5.1 The US Crude Steel Mill Products Market by Volume
- Table 28: The US Crude Steel Mill Products Market by Volume (2017-2021)
- 3.5.2 The US Crude Steel Mill Products Market Forecast by Volume
- Table 29: The US Crude Steel Mill Products Market Forecast by Volume (2022-2026)
- 3.6 The US Crude Steel Market by End User
- Table 30: The US Crude Steel Market by End User Industry (2021)
- 3.6.1 The US Construction Steel Market by Volume
- Table 31: The US Construction Steel Market by Volume (2017-2021)
- 3.6.2 The US Automotive Steel Market by Volume
- Table 32: The US Automotive Steel Market by Volume (2017-2021)
- 3.6.3 The US Machinery and Equipment Steel Market by Volume
- Table 33: The US Machinery and Equipment Steel Market by Volume (2017-2021)
- 3.6.4 The US Energy Steel Market by Volume
- Table 34: The US Energy Steel Market by Volume (2017-2021)
- 3.6.5 The US Appliances Steel Market by Volume
- Table 35: The US Appliances Steel Market by Volume (2017-2021)
- 3.7 The US Crude Steel Imports
- Table 36: The US Crude Steel Imports (2021)
- 3.7.1 The US Crude Steel Imports by Volume
- Table 37: The US Crude Steel Imports by Volume (2017-2021)
- 3.8 The US Crude Steel Exports
- Table 38: The US Crude Steel Exports (2021)
- 3.8.1 The US Crude Steel Exports by Volume
- Table 39: The US Crude Steel Exports by Volume (2017-2021)
- 4. Market Dynamics
- 4.1 Growth Drivers
- 4.1.1 Booming Automobile Industry
- Table 40: Production of Motor Vehicle in the US (2017-2021)
- 4.1.2 Accelerating Urban Population
- Table 41: Urban population in the US (2017-2021)
- 4.1.3 Increased Construction and Infrastructure Projects
- Table 42: Construction Spending in the US (2017-2021)
- 4.1.4 Accelerating Consumer Durables Industry
- Table 43: Industrial Production Index of Household Appliances (Jan 2017- Jan 2021)
- 4.1.5 Booming Oil and Gas Industry
- Table 44: The US Crude Oil First Purchase Price (2017-2021)
- 4.2 Key Trends
- 4.2.1 Green Steel
- 4.2.2 United States-Mexico-Canada Agreement (USMCA)
- 4.3 Challenges
- 4.3.1 Trade War and Increased Prices of Raw Materials
- Table 45: Global Iron Ore Price (2017-2021)
- 4.3.2 Excess Capacity Problem
- Table 46: Global Nominal Crude Steelmaking Capacity (2017-2021)
- 5. Company Profiles
- 5.1 Cleveland Cliffs, Inc.
- 5.1.1 Business Overview
- Table 47: End User Markets
- 5.2 Commercial Metals Company
- 5.2.1 Business Overview
- Table 48: Commercial Metals Company Timeline
- 5.3 Nucor Corporation
- 5.3.1 Business Overview
- Table 49: Business Segments
- 5.4 Steel Dynamics, Inc.
- 5.4.1 Business Overview
- Table 50: Operations Segments
- 5.5 United States Steel Corporation
- 5.5.1 Business Overview
- Table 51: Business Segments
- 5.6 Reliance Steel and Aluminum Co.
- 5.6.1 Business Overview
- Table 52: Business Segments
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