Special Steel Industry Capacity, Market Production and Revenue Analysis Global Foresight to 2022 by Million Insights
Global Special Steel Market is segmented based on types, shape of steel, application, and
region. Special steel is defined as steel that is used in the production of
special items or parts. Special steel consists of alloy special steel and
carbon steel. By taking advantage of specific chemistry and elements, special
steels such as stainless and weathering provide corrosion protection.
It has been
projected that Special Steel Market will grow at a significant rate over the
forecast period as the scope and its application are rising enormously across
the globe, the reason being increase in the automotive and construction industry
throughout the world. Moreover, no instant substitutes of steel have made steel
products a main part of daily lives of the people. Type into Alloy Steel,
Carbon Steel, Gear Steel, Bearing Steel, Spring Steel, and others classify
special Steel Market.
Carbon steel
segment held the largest market share of the Special Steel Market and is
expected to lead the overall market during the forecast period. Carbon steel is
a mild steel that contains low percentage of carbon and is the most common form
of steel.
In Bearing steel,
electro slag treated product is mostly used in the bearings of passenger
vehicle and cargo vehicle. Also, die casting hot-rolled wire rod is mostly used
in the wind electric power generation bearing, metallurgical mining equipment
and high precision industrial bearing. Special Steel Market is classified, by
shape of steel into Flat, Long, and Tubular.
Special Steel
Market is classified, by application into Construction, Energy, Shipping,
Packaging, Housing, Automotive, Consumer Appliances, and others. Construction
segment accounted for the largest market share of the Special Steel Market and
is expected to lead the overall market. Special Steel Market is segmented,
geographically into North America, Europe (Eastern Europe, Western Europe),
Asia Pacific, Latin America, Middle East and Africa.
Globally, Asia
Pacific region accounted for the largest market share of the Special Steel
Industry and is expected to remain dominant over the forecast period. The reason
for the growth is the presence of key consumers that take up capital intensive
projects, along with the availability of technical expertise. On the other
hand, North America and Europe are expected to grow at fastest pace with the
expected CAGR over the forecast period.
Special Steel
Industry key players are, Sandvik, SSAB, Sanyo, TimkenSteel, Ovako, Nippon
Koshuha, TISCO, Shagang Group, Nanjing Steel, Aichi Steel, CITIC,Dongbei
Special Steel, HBIS, Baosteel, Arcelor Mittal, NSSMC, JFE, POSCO, ThyssenKrupp
AG, Hyundai, voestalpine, U. S. Steel and DAIDO STEEL.
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