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Delhi, New Delhi, India, 07/02/2008 – The report gives an overview of the global steel industry and discusses the Chinese steel industry in detail, including production and consumption pattern, type of steel products, and major exporting–importing countries. It also studies the growth drivers, opportunities, challenges, and future outlook of the industry.
Market Analysis
China’s steel industry is among the world’s major industries and is registering the fastest growth rate not only in terms of production but consumption also (China is the world’s largest steel consumer). The country expanded its steel-making capacity to meet the demand of its rapidly growing economy. Basically, strong economic growth and cheap production base are the major driving forces for rise in steel consumption.
The steel industry of China has been witnessing phenomenal growth since the last few years. In 2006, total crude steel production in the country reached 422.7 Million Metric Tons. China accounted for approx 34% of total global crude steel demand in 2006. Government support and economic growth is propelling growth in the Chinese steel industry. During the period 2000-2006, demand for steel in China grew at a CAGR of 19.18%.
Key Findings
- In the recent past, China has emerged as a major growth driver in the global steel industry.
- China is the top crude steel producing country in the world and accounted for approx 34% of global production in 2006.
- Huge government support in the form of subsidies has fuelled the creation of the world’s largest steel industry.
- High import of flat and long products by China offers great opportunity for global steel players.
- China is the world’s largest steel consumer. Strong economic growth and cheap production base are the major driving forces for growth in steel consumption.
- Over-production and dependency on imported raw material are the biggest challenges that Chinese steel industry needs to tackle for sustained growth in future.
Key Issues & Facts Analyzed
- What are the future growth prospects and opportunities for steel manufacturers in China?
- What are the major challenges and driving forces for Chinese steel industry?
- What are the major steel exporting and importing countries?
- Who are the major competitors in Chinese steel industry?
Research Methodology
Information Sources
Information has been sourced from books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to more than 3000 paid databases.
Analysis Methods
The analysis method includes ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.
About RNCOS
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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