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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Africa Steel Market Share
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.
Africa Steel Market Report Snapshots
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.*
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Key Questions Answered in the Report
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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30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +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
+84865399124