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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.
Africa Steel Market Regional Analysis
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Steel Market Overview
8.1 Key Industry Highlights
8.2 Global Steel Historical Market (2018-2023)
8.3 Global Steel Market Forecast (2024-2032)
8.4 Global Steel Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Africa Steel Market Overview
9.1 Key Industry Highlights
9.2 Africa Steel Historical Market (2018-2023)
9.3 Africa Steel Market Forecast (2024-2032)
10 Africa Steel Market by Product
10.1 Long Steel
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Wire Rod
10.1.3.2 Rebars
10.1.3.3 Merchant Bars
10.1.3.4 Heavy Sections
10.1.3.5 Others
10.2 Flat Steel
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Hot Rolled Wide Strip
10.2.3.2 Quarto Plate
10.2.3.3 Others
11 Africa Steel Market by Type
11.1 Carbon Steel
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Alloy Steel
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Stainless Steel
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Tool Steel
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Africa Steel Market by Application
12.1 Construction
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mechanical Engineering
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Automotive
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Metalware
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Domestic Appliances
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Agricultural
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 Africa Steel Market by Country
13.1 Egypt
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.1.3 Breakup by Product
13.1.4 Breakup by Type
13.1.5 Breakup by Application
13.2 South Africa
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.2.3 Breakup by Product
13.2.4 Breakup by Type
13.2.5 Breakup by Application
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.3.3 Breakup by Product
13.3.4 Breakup by Type
13.3.5 Breakup by Application
13.4 Kenya
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.4.3 Breakup by Product
13.4.4 Breakup by Type
13.4.5 Breakup by Application
13.5 Tanzania
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.5.3 Breakup by Product
13.5.4 Breakup by Type
13.5.5 Breakup by Application
13.6 Morocco
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.6.3 Breakup by Product
13.6.4 Breakup by Type
13.6.5 Breakup by Application
13.7 Namibia
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.7.3 Breakup by Product
13.7.4 Breakup by Type
13.7.5 Breakup by Application
13.8 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 7218, 7222, 7228, 7227)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 POSCO Co., Ltd.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Acerinox S.A.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Nippon Steel Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Outokumpu Oyj
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 African Industries Group
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Egyptian Steel Group
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 El Marakby Steel
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Libyan Iron and Steel Company
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Pacific Steel Market: Key Industry Highlights, 2018 and 2032
2. Africa Steel Market: Key Industry Highlights, 2018 and 2032
3. Africa Steel Historical Market: Breakup by Product (USD Million Tons), 2018-2023
4. Africa Steel Market Forecast: Breakup by Product (USD Million Tons), 2024-2032
5. Africa Steel Historical Market: Breakup by Type (USD Million Tons), 2018-2023
6. Africa Steel Market Forecast: Breakup by Type (USD Million Tons), 2024-2032
7. Africa Steel Historical Market: Breakup by Application (USD Million Tons), 2018-2023
8. Africa Steel Market Forecast: Breakup by Application (USD Million Tons), 2024-2032
9. Africa Steel Historical Market: Breakup by Country (USD Million Tons), 2018-2023
10. Africa Steel Market Forecast: Breakup by Country (USD Million Tons), 2024-2032
11. Major Exporting Countries by Value
12. Major Importing Countries by Value
13. Major Exporting Countries by Volume
14. Major Importing Countries by Volume
15. Africa Steel Market Structure
In 2023, the market reached an approximate volume of 39.49 million tons.
The market is expected to grow at a CAGR of 3.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 51.86 million tons by 2032.
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.
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