Noida, UP -- (SBWire) -- 04/21/2014 --US steel industry is one of the world's largest steel industries in terms of both production and consumption. The country ranked third globally in 2012 with 5.7% share in crude steel production. In the US, flat products’ production account for a majority share in the total hot rolled products production due to large demand for flat products. Hot rolled flat products have various application areas based on their shape and manufacturing properties. In future, with rising demand for flat products in various application areas, the production is anticipated to grow at a CAGR of around 5% during 2013-2017.
In their latest research report, “US Steel Industry Outlook to 2017”, RNCOS analyst have identified that the US steel industry has been playing an important role in the overall economic development. This can be attributed to the increased production and consumption level in 2012 with respect to the previous year. Further, crude steel production surged around 3% in 2012, while consumption increased more than 8% during the same period. We expect that, the trend will continue in future also due to the increase in consumption from various industrial sectors.
The report has studied the US steel industry in terms of production, consumption, export and import scenario, steel demand analysis, pricing analysis etc. Further, product-wise production and consumption has been discussed including long products, flat products and seamless tubes with forecast till 2017. The report covers the further break up of long products production into concrete reinforcing bars, bars and wire rods and flat products into electrical sheet & strip, tinmill and other metallic coated sheet & strip. In addition, the consumption section in the report covers the consumption by type of product, which represents that flat products account for the major share in total steel consumption in the country. Further, the report covers the finished steel consumption by product including stainless steel sheet or strip, plate, bar, rod and wire.
Our comprehensive study also covers the information about steel demand analysis in various sectors including construction, automobiles, energy, container, defense and security etc. in addition, the report covers the steel pricing analysis including steel spot prices and average scrap prices. Besides this, the research includes trends and drivers prevailing in the US steel industry.
The report “US Steel Industry Outlook to 2017”, is an outcome of comprehensive research and unbiased analysis of the US steel industry and its various segments to present a clear picture of the past and present market trends. It evaluates the existing market opportunities in relation with the factors driving steel demand. The report also contains information about steel pricing and government stimulus package to bring the industry back on growth track.
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About RNCOS
RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
Flat Products Dominates the US Steel Production
US flat products production is projected to grow at a CAGR of 5% during 2013-2017, says RNCOS in its research report.