The Africa steel market reached a volume of approximately 39.49 Million Tons in 2024. The market is further expected to grow at a CAGR of 3.10% between 2025 and 2034, reaching a volume of 53.59 Million Tons by 2034.
Base Year
Historical Year
Forecast Year
Africa is viewed as a high-cost, low-productivity manufacturing destination for steel. Most of Africa's steel production is typically used in low-value industries like building, construction, automotive, machinery, and appliances.
As per industry reports, in 2024, Africa's crude steel production increased by 1.1% year-on-year to 1.9 million metric tons.
Prominent players in the market are Hesteel Group, Egyptian Steel Group, African Industries Group, and Devki Steel Mills Limited.
Value in Million Tons
2025-2034
Africa Steel Market Outlook
*this image is indicative*
Steel is an alloy of iron and carbon with less than 2% carbon and 1% manganese, although its composition can vary depending upon desired applications. Common properties of steel include high tensile strength, yield strength, malleability, plasticity, and toughness. Steel is a versatile and adaptable material, and its durability and different uses are supporting the growth of the steel market in Africa.
The Africa steel market is anticipated to grow due to the increase in number of construction projects in the African continent. A surge in investments in both public and private sectors with support from the governments in the region will likely bolster the construction sector, increasing the demand for steel.
In addition, to encourage economic development and employment, governments in the region are encouraging the use of locally produced steel. Local steel is being used more frequently in construction projects across the region, fostering the Africa steel market growth.
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Increased attention to locally produced steel, expansion of steel manufacturers in the region, and development of steel alloys are factors influencing the Africa steel market development
Countries like South Africa, Egypt, and Morocco are investing heavily in electric vehicle (EV) charging networks and battery manufacturing facilities, which require steel components and infrastructure. Such investments are driving the demand for steel and reflects a shift towards sustainable transportation solutions.
The construction sector in Africa is a major consumer of steel, with the growing demand for high-rise buildings, bridges, and infrastructure projects driving the need for various steel products, such as stainless steel.
Decarbonisation efforts are gaining momentum in steel industry in Africa at varying paces across regions, as many steel makes adopting greener practices. South African steel producer ArcelorMittal is investing in carbon capture and storage technologies to reduce its carbon footprint, while Egyptian steel companies are exploring the use of renewable energy sources in their production processes.
The Middle East and Africa region are witnessing a rise in the green steel market, driven by factors like the growing number of construction projects, investments in infrastructure development, and the increasing contribution of the construction sector to GDP. The construction of the Lekki Deep Sea Port in Nigeria, which is expected to be one of the largest ports in West Africa, is driving the demand for environmentally friendly steel products. Similarly, the development of renewable energy projects, such as solar and wind farms, across the region is creating opportunities for the green steel market.
A key trend in the Africa steel market is increased development and production of specialised alloys of steel, resulting in steel with enhanced characteristics to suit specific requirements. With significant natural resources in the form of various metal ores, the production of varied steel alloys can be easily supported. For example, the automotive industry in Africa is expanding, with automakers like Volkswagen, Toyota, and Nissan establishing manufacturing plants in countries like South Africa, which requires specialised steel grades, such as alloy steel for vehicle production.
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The EMR’s report titled “Africa Steel Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
Flat steel segment holds a significant market share due to its versatile applications in various industries
Based on product, flat steel accounts for the larger Africa steel market share because they are widely used in construction, heavy machinery, and automobiles. Flat steel consists of sheets and plates which are made by rolling slabs and forming a type of semifinished steel. These products are utilised in a variety of sectors, like in machinery, shipbuilding, and domestic appliances. Hot rolled wide strip steel is rolled in high temperatures and is used in manufacturing agricultural equipment, furniture, cabinets, and industrial products.
Meanwhile, long steel is anticipated to grow at a swift rate in the coming years due to the increased use in the electrical power industry, in manufacturing wire ropes for bridges, and developing tire cords for the automotive industry. Products made from long steel include rails, wire rods, billets, and blooms, which are primarily utilised in the energy, mining, and automobile sectors.
Construction sector contributes to market growth as it heavily requires steel in the construction of bridges and building
As per Africa steel market analysis, construction accounts for a sizable market share based on end use due to necessity of steel in the construction of substantial structures like bridges and buildings. Steel has properties to bind well with concrete and is also cost effective as well as is durable. In the building of roofs and cladding for exterior walls, steel works as an excellent component.
With the increasing population and urbanisation in multiple countries in Africa, and reconstruction of older buildings, the demand for steel is expected to surge, thereby positively shaping the Africa steel market outlook. As steel supports structurally sound constructions, it is becoming a common component of various building operations in Africa.
Market players are expanding their production footprint across different countries in Africa and utilising technology to reduce the environmental footprint of steel manufacturing
African Industries Group is a diversified global producer which is headquartered in Lagos, Nigeria and founded in 1971. Primarily a manufacturing company, the group has multiple manufacturing plants and facilities that are located throughout Nigeria. They specialise in iron and steel manufacturing, agricultural products, power generation, steel processing, building materials, and logistics and shipping.
Egyptian Steel Group, founded in 2010, is headquartered in Cairo, Egypt. The company operates four primary steel factories under its holding company, producing a wide range of steel products using the latest eco-friendly technology. The group's steel products cater to various industries such as construction, automotive, transportation, energy, packaging, tools and machinery, and consumer appliances.
Nippon Steel Corporation, headquartered in Japan, is one of the largest and most rapidly growing steelmakers based in Japan. The company has been functioning in the manufacturing industry since 1950. The corporation was formed after the merger of Fuji Iron and Steel Company with Yawata Iron and Steel Company. The company offers multiple steel-related products, including steel plates, steel, sheets, structural steel, pipes and tubes, railway, automotive, machinery parts, and titanium, among other products.
POSCO Co., Ltd., founded in 1968 and headquartered in South Korea is a mining and steel manufacturing company and is the 6th largest steel producer in the world. The company has developed a wide network through which they provide its services for various areas of business including steel, energy, agro-commodities, chemical products, machinery parts, and infrastructure, among others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the Africa steel market report include Acerinox S.A., Outokumpu Oyj, El Marakby Steel, Suez Steel Company, and The Libyan Iron & Steel Company, among others.
Egypt leads the market due to the country’s growing focus on electric mobility
In the Africa steel market, Egypt stands out as a significant player with a focus on electric mobility and renewable energy infrastructure. Egyptian Steel Group, founded in 2010, exemplifies this trend with its production of high-quality steel products for various industries.
South Africa, on the other hand, boasts a well-established steel industry catering to construction, heavy machinery, and automotive sectors. Companies like ArcelorMittal South Africa contribute to the Africa steel market growth by producing a wide range of steel products for both domestic and international markets. Nigeria is actively pursuing green steel initiatives, with efforts towards decarbonisation and sustainable steel production. The country's steel market presents export potential for machinery products and growth opportunities in construction and energy sectors.
Moving to East Africa, Kenya and Tanzania are emerging steel markets with a growing demand for steel in infrastructure projects and manufacturing. Morocco, known for its steel production capacity, plays a vital role in supplying steel products to various sectors like construction and automotive.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market reached an approximate volume of 39.49 Million Tons.
The market is expected to grow at a CAGR of 3.10% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach 53.59 Million Tons by 2034.
The growing construction industry, rapid urbanisation and industrialisation, and diversification of steel applications are major market drivers.
Key trends aiding market expansion include the increased attention to locally produced steel, expansion of steel manufacturers in the region, and development of steel alloys for improved properties.
Countries considered in the market are Egypt, South Africa, Nigeria, Kenya, Tanzania, Morocco, and Namibia, among others.
Steel is an alloy of iron and carbon which offers properties like tensile strength, yield strength, malleability, and toughness.
The different types of steel in the market are carbon steel, alloy steel, stainless steel, and tool steel.
The various application of steel in the market are construction, mechanical engineering, automotive, metalware, domestic appliances and agricultural, among others.
Key players in the market are African Industries Group, Egyptian Steel Group, Nippon Steel Corporation, POSCO Co., Ltd., Acerinox S.A., Outokumpu Oyj, El Marakby Steel, Suez Steel Company, and The Libyan Iron & Steel Company, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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