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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Africa Steel Market Analysis by Region
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.
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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+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