Steelmakers Moving Towards Electric-Arc Furnace (EAF)
In the forecast period, the global iron and steel mills and ferroalloy manufacturing market size is expected to be around $2 trillion by 2021, declining at a CAGR of nearly -1.5%.
(EMAILWIRE.COM, December 12, 2018 ) The global iron and steel mills and ferroalloy manufacturing market, a part of the metal and mineral manufacturing industry, declined at a compound annual growth rate (CAGR) of around -3% during the historic period. The metal and mineral manufacturing industry showed a drastic decline in 2015. The growth is mainly due to high operational cost and stringent regulations regarding ferroalloys, steel and iron manufacturing that contributed to the decline of the market.
In the forecast period, the global iron and steel mills and ferroalloy manufacturing market size is expected to be around $2 trillion by 2021, declining at a CAGR of nearly -1.5%. The market is expected to decelerate at a lower pace than the historic growth rate due to continued weakness and oversupply in the steal market undermining pricing. In addition, increasing construction activity in countries such as Brazil, Russia, India, China, and South Africa (BRICS) will also stimulate the development of the market.
Find TBRC’s report on the Global Iron And Steel Mills And Ferroalloy Manufacturing market: https://www.thebusinessresearchcompany.com/report/iron-and-steel-mills-and-ferroalloy-manufacturing-global-market-report-2018
Global steelmakers are gradually shifting from blast furnace to EAF to manufacture steel. EAF requires much lower investment and offers higher efficiency compared to a blast furnace. The use of EAF enables steelmakers to produce steel from 100% scrap metal feedstock, reducing the overall energy consumed to produce steel as compared to steel made from ores. Major companies in the iron and steel mills and ferroalloy manufacturing market, offering EAF technology include Arcelor Mittal, POSCO, Nippon Steel & Sumitomo Metal, China Baowu Steel Group, JFE, TATA Steel Group, NUCOR, Hyundai Steel Company, GERDAU S.A, United States Steel Corporation.
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In the forecast period, the global iron and steel mills and ferroalloy manufacturing market size is expected to be around $2 trillion by 2021, declining at a CAGR of nearly -1.5%. The market is expected to decelerate at a lower pace than the historic growth rate due to continued weakness and oversupply in the steal market undermining pricing. In addition, increasing construction activity in countries such as Brazil, Russia, India, China, and South Africa (BRICS) will also stimulate the development of the market.
Find TBRC’s report on the Global Iron And Steel Mills And Ferroalloy Manufacturing market: https://www.thebusinessresearchcompany.com/report/iron-and-steel-mills-and-ferroalloy-manufacturing-global-market-report-2018
Global steelmakers are gradually shifting from blast furnace to EAF to manufacture steel. EAF requires much lower investment and offers higher efficiency compared to a blast furnace. The use of EAF enables steelmakers to produce steel from 100% scrap metal feedstock, reducing the overall energy consumed to produce steel as compared to steel made from ores. Major companies in the iron and steel mills and ferroalloy manufacturing market, offering EAF technology include Arcelor Mittal, POSCO, Nippon Steel & Sumitomo Metal, China Baowu Steel Group, JFE, TATA Steel Group, NUCOR, Hyundai Steel Company, GERDAU S.A, United States Steel Corporation.
Download a sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=98&type=smp
About The Business Research Company.
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.
Contact Information.
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow us on Linkedin: https://in.linkedin.com/company/the-business-research-company
Contact Information:
The Business Research Company
Marketing TBRC
Tel: +91 8897263534
Email us
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The Business Research Company
Marketing TBRC
Tel: +91 8897263534
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results