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Yahoo
05-08-2025
- Business
- Yahoo
Iron & Steel Market worth $1,707.1 billion by 2030 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Aug 5, 2025 /PRNewswire/ -- The report "Iron & Steel Market by Type (Iron and Steel), Iron Production Technology, Steel Production Technology, End-use Industry (Construction & Building, Automotive & Transportation, Mechanical Equipment, Metal Products), and Region - Global Forecast to 2030", iron & steel market was valued at USD 1,453.4 billion in 2024, and it is projected to reach USD 1,707.1 billion by 2030, at a CAGR of 3.1%. Browse in-depth TOC on "Iron & Steel Market" 200 - Tables130 - Figures250 - Pages Download PDF Brochure: Iron and steel are two of the most important industrial materials that are used around the world in construction, transportation, manufacturing, and infrastructure. Iron occurs naturally as a metallic element that can be extracted from iron ore. Steel is an alloy mostly made of iron and carbon with additional elements added to increase metal strength and durability. Iron and steel offer versatility, strength, durability, and amenity for a wide range of building projects, and are both recyclable. The extensive use of iron and steel as vital materials makes the iron and steel industry infinitely important to economic growth and industrial development globally. Based on type, the steel segment accounted for the largest market share in 2024 In 2024, steel accounted for the largest share of the market in the iron and steel market due to its functionality in a broad range of construction, automotive, machinery, transportation, and energy sectors. Steel is an alloy of iron and controlled carbon along with other elements, such as manganese, chromium or nickel and has high strength, durability and versatility, and is the preferred material for multiple industrial and structural applications. Steel and iron-based products will be chiefly consumed through the construction sector where steel is commonly used in reinforced concrete, structural frames, bridges, and buildings. The appearance of steel, as well as its mechanical properties, such as ductility and crashworthiness makes steel one of the most widely used materials on earth and drives a multitude of steel components in vehicles such as trailers, and body panels. Urbanization, government finance pressures to build public infrastructure, investment in energy efficient buildings and structures, such as earthquake-resistant buildings have all contributed to rising global consumption of steel. Steel is the most recyclable material on the planet; the development of cleaner steel technologies, such as the electric arc furnace (EAF) while promoting sustainable development and addressing climate change now has led steel on the cusp of transformational change. Because of its diversity and performance, it meets evolving industrial demand, and increasing operational use, and will continue to outperform iron and steel industry products and there is every reason to believe it will continue to do so for the foreseeable future. Request Sample Pages: Based on iron production technology, the DRI process segment is expected to grow at the highest CAGR during forecast period The Direct Reduced Iron (DRI) process is anticipated to grow at the highest CAGR in the iron and steel market during the forecast period as it is being increasingly adopted as a cleaner, more energy-efficient alternative to the traditional blast furnace route. DRI is a process that corresponds to the reduction of iron ore using natural gas or syngas (no need for coke) and results in the ability to make steel having significantly lower carbon emissions. With increasing global environmental regulations and the steel industry focusing on decarbonization, DRI is increasing in prominence because it is compatible with low carbon and hydrogen-based technologies. The rise in DRI usage as feedstock for electric arc furnaces (EAFs) adds to the DRI process's lure, especially in markets that are investing in sustainable steel production. Dynamic economies in the Middle East, India, and Latin America are expected to invest in DRI facilities, given their access to inexpensive natural gas and recent policy directions designed to support low-emission iron and steel. The DRI process also allows for raw material flexibility and requires less capital than integrated steel plants. These factors make it a major driver of future demand, forecasting the DRI technology with a central role in the future of iron making. Asia Pacific accounted for the largest share of the market in 2024 In 2024, the Asia Pacific region held the largest market share of the global iron and steel market. This is attributed to the extensive industrialization in economies, turnover in infrastructure development, and consumption in major end-use segments, which include construction, automotive, and manufacturing. Economies, such as China, India, Japan, and South Korea will account for the region's growth, with large public expenditure in developing infrastructure, continuing urbanization, and high levels domestic consumption. As the largest producer and consumer of iron and steel globally, China will lead growth in this region as it already has a large production capacity, as well as ongoing infrastructure 'megaprojects'. India is witnessing increased levels of demand for steel, buoyed by government initiatives to promote steel consumption (for example, "Make in India") and significant developments in housing, roads, and railways. The abundance of raw materials, skilled labor, and concentration of manufacturing in the region has also made it competitive on the global stage. Moreover, increased foreign investments and government policies designed to increase domestic industrial production are also accelerating development in various Southeast Asian countries. The region will continue to be a dominant component of the iron and steel sector globally as companies increase consumer applications and investments into steel-intensive departments continue uninterrupted. Request Customization: Key Players The iron & steel market comprises major players, such as ArcelorMittal (Luxembourg), China Baowu Steel group Corporation Limited (China ), TATA Steel (India), JSW (India), Nucor Corporation (US) , NIPPON STEEL CORPORATION (Japan), Ansteel Group Corporation Limited (China), POSCO (UK), HBIS Group (China), SAIL (India), and others are covered in the iron & steel market. Expansions, acquisitions, joint ventures, and product developments are some of the major strategies adopted by these key players to enhance their positions in the iron & steel market. Get access to the latest updates on Iron & Steel Companies and Iron & Steel Market Size Browse Adjacent Market: Building and Construction Market Research Reports & Consulting Related Reports: Metal Recycling Market - Global Forecast to 2029 Titanium Market - Global Forecast to 2030 Industrial Gases Market - Global Forecast to 2028 Metal Organic Frameworks Market - Global Forecast to 2030 Industrial Fasteners Market - Global Forecast to 2029 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily News Egypt
31-07-2025
- Business
- Daily News Egypt
PM Madbouly reviews ongoing investment talks with Gulf states
Egypt's Prime Minister Mostafa Madbouly chaired a meeting on Wednesday to discuss major investment opportunities currently under negotiation with several Gulf countries. The meeting was attended by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir; Minister of Finance Ahmed Kouchouk; Minister of Investment and Foreign Trade Hassan El-Khatib; Minister of Public Business Sector Mohamed Shimi; Minister of Petroleum and Mineral Resources Karim Badawi; along with senior officials from the relevant ministries. Madbouly stressed that, as part of the government's strategy to actively promote investment in promising sectors and strengthen Egypt's economic competitiveness, the state is focused on showcasing the most viable projects and advancing executive measures to attract more foreign direct investment (FDI). Cabinet Spokesperson Counselor Mohamed El-Homsany noted that the meeting covered several projects under negotiation with Gulf partners across a range of sectors. These discussions aim to expand foreign investment and increase foreign currency inflows to support economic stability. He added that the meeting reaffirmed the government's commitment, as outlined in its action plan, to fostering both domestic and international investment by improving the investment climate and providing a package of incentives and facilitations. Gulf investments in Egypt have surged in 2025, led by the UAE's landmark $35bn Ras El-Hekma agreement—the largest FDI deal in Egypt's history—followed by Qatar's pledge of $7.5bn in direct investments. Saudi Arabia, Kuwait, and Bahrain have also stepped up their engagement, bringing total Arab investments to $41.5bn. These funds primarily target strategic sectors such as real estate, infrastructure, logistics, and energy, underscoring growing Gulf confidence in Egypt's reform agenda and economic potential.
Daily News Egypt
27-07-2025
- Business
- Daily News Egypt
Al-Sisi reviews transport, industry projects, urges drive to make Egypt global logistics hub
Egyptian President Abdel Fattah Al-Sisi held a meeting on Sunday with Prime Minister Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Kamel Al-Wazir, and Presidential Financial Advisor General Ahmed El-Shazly to review the progress of key transport and industrial development projects, according to a statement by the presidency. Presidential spokesperson Mohamed El-Shennawy said the meeting focused on advancing railway projects, particularly the Arish–Taba line and the Bir Al-Abd–Arish extension, which are designed to spur development in the Sinai Peninsula and create a logistics corridor linking the Red Sea to the Mediterranean. The discussions also included updates on the development and modernisation of major seaports, including Ras Sudr, Gargoub, Abu Qir, Greater Alexandria, New El-Mex, Ain Sokhna, Taba, and Damietta, recognising their central role in Egypt's national economic strategy. Progress on Cairo's fourth metro line and the high-speed electric rail network was also reviewed, as part of broader efforts to modernise Egypt's transport infrastructure and enhance connectivity across the country. The meeting further addressed plans to develop industrial zones in Upper Egypt, particularly in Wadi Al-Saririya and Al-Matahara in Minya, as well as northern Fayoum. These projects aim to stimulate industrial activity in underdeveloped regions and create employment opportunities, especially in labour-intensive sectors such as textiles and ready-made garments. President Al-Sisi stressed the importance of completing all projects according to schedule and directed continued work to establish integrated logistics corridors that seamlessly connect industrial zones to Egypt's upgraded ports. He underlined that these initiatives must be integrated with the country's modern network of roads, highways, and railways to strengthen Egypt's position as a global trade and logistics hub.
Arab Times
21-07-2025
- Politics
- Arab Times
Kuwait Crown Prince Welcomes Egyptian Deputy PM and Delegation
KUWAIT CITY, July 21: His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah received on Monday at Bayan Palace Egyptian Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Lieut.-General Kamel Abdulhadi Al-Wazir and his accompanying delegation. Minister of Public Works Dr. Noura Al-Mashaan and Egypt's Ambassador to Kuwait Osama Shaltout attended the reception. (KUNA)
Kuwait Times
21-07-2025
- Politics
- Kuwait Times
Crown Prince receives Egyptian Deputy PM
Crown Prince receives Egyptian Deputy PM KUWAIT: His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah received on Tuesday at Bayan Palace the Egyptian Deputy Prime Minister for Industrial Development and Minister of Transport and Industry, Lieutenant General Kamel Abdulhadi Al-Wazir, and his accompanying delegation on the occasion of their official visit to the country. The meeting was attended by Kuwait's Minister of Public Works Dr Noura Al-Mashaan and Egypt's Ambassador to Kuwait Osama Shaltout.– KUNA photos
