Key Global Indicators

The global market for long steel products has experienced an increase in the past five years due to the growing demand from construction and infrastructure sectors because of the industrial and population growth. Long iron and steel products, such as rebar, beams and wire rods are essential for construction and industrial purposes. The market has witnessed such growth because of the new infrastructure projects, modernization efforts and usage of long steel products by the automotive industry. However, fluctuations in raw material costs constitute a major challenge. The Asia-Pacific region controls this market by benefiting from the presence of leading iron and steel producers and low labor costs. The market is expected to witness compound annual growth rate (CAGR) of 4.5% from now to 2030.