How Steel Became a Multi-Billion Dollar Industry

Growth in the popularity of pre-engineered metal buildings and lightweight building materials drives the demand for steel. Market. Besides this, the transition from conventional casting processes to novel technologies making the use of recycled materials also drives market growth. The issue of buckling associated with steel structures restricts the fruitful growth of steel market. The involvement of various steel manufacturing companies in extensive R&D and collaborations is expected to boost the demand for steel market in the near future.

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Steel refers to an alloy of iron with a few percents of carbon to improve its strength and fracture resistance. Stainless steels that are corrosion and oxidation resistant need typically an additional 11% chromium. Due to its high tensile strength and low-cost steel is preferred in buildings, construction, tools, ships, cars, and machines. Iron forms the base metal of steel and can take one or two crystalline forms. Steel was produced in bloomer furnaces for thousands of years.

Top Companies

  • ArcelorMittal S.A.
  • Baosteel Group
  • Hesteel Group Company Limited
  • Hyundai Steel Co., Ltd.
  • JFE Steel Corporation
  • Jiangsu Shagang Group Company Limited
  • Nippon Steel Corporation
  • Nucor Corporation
  • Posco
  • Shougang Group