Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Canada Steel Market Size
The Canada steel market is projected to grow at a CAGR of 4.95% between 2024 and 2032.
Canada Steel Market Outlook
- According to industry reports, in 2022, the Canadian steel sector employed around 23,600 workers and contributed more than USD 4.5 billion to Canada's GDP.
- Prominent Canadian steel producers include Algoma Steel Inc., AltaSteel, and ArcelorMittal Long Products Canada.
- The Canadian steel market is constantly investing in technology to reduce its climate emissions by at least 6 million tonnes by 2030. This is expected to help the domestic steel industry gain a larger market share compared to high-carbon, offshore steel.
Canada Steel Market Growth
Canadian steel producers are significant employers and are crucial contributors to the country’s economic growth. They are also critical suppliers of steel to the manufacturing, energy, infrastructure, and transportation sectors in the country. Offshore imports of steel into Canada have significantly grown from 19% in 2014 to 39% in 2022. The Steel Import Monitoring Program is a program in Canada that supports the timely publication of data on the type, quantity, origin, and value of imported steel. In 2023, the program monitored over 373,000 steel import transactions. According to international benchmarking studies, Canadian steel is amongst the greenest steel across the globe. Stakeholders in the steel market are continuously investing in projects and technologies to lower their carbon emissions to achieve more than 45% reduction of GHG emissions by 2030. The steel sector also aims at achieving net-zero emissions by 2050.
According to the Canada steel market analysis, the Canadian automotive sector is a crucial consumer of steel. Five major automakers in Canada include Ford, General Motors, Stellantis Honda and Toyota. On average, the automotive sector consumes around 900 kg of steel per vehicle. In 2022, the automotive sector produced over 1.2 million vehicles that were sold in Canada and around the world. The automotive sector is also Canada’s second-largest export sector, with USD 63 billion generated as export revenue in 2022.
Canada Steel Industry Segmentation
Canada Steel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Product
- Flat Steel
- Long Steel
Market Breakup by Type
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Tool Steel
Market Breakup by End Use
- Construction
- Mechanical Engineering
- Automotive
- Domestic Appliances
- Metalware
- Agricultural
- Others
Market Breakup by Region
- British Columbia
- Alberta
- The Prairies
- Central Canada
- Atlantic Canada
Canada Steel Market Share
Carbon steel is increasingly being used because it is possible to produce carbon steel with less carbon footprinting. It is anticipated that this will promote their adoption. End users are starting to favor carbon steel because of low carbon emissions from steel. The demand for carbon steel is predicted to increase as it is used more often in automotive, construction, and other industries. Carbon steel's strength, formability, machinability, recyclability, and adaptability will increase the range of applications for it. Steel producers will be compelled by this to increase the range of products they provide in carbon steel.
Leading Companies in Canada Steel Market
The key players in the market are investing in strategies to boost their steel production while lowering carbon emissions.
- Algoma Steel Inc.
- ArcelorMittal Dofasco
- Stelco Inc.
- Gerdau S/A
- Rolled Alloys
- Canam Group Inc.
- LMS Reinforcing Steel Group
- Walters Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
The steel market is expected to grow at a CAGR of 4.95% between 2024 and 2032.
Canada produces its steel at 13 plants in five provinces, including Alberta, Manitoba, Ontario, Saskatchewan, and Quebec. The industry is largely concentrated in Ontario, with six plants operating there.
High-carbon steel has a high resistance to wear and tear, which makes it suitable tools and metal automotive fasteners. Manufacturers in automotive sector use high-carbon steel to produce bushings, chassis, vehicle frames, and door panels.
The major drivers of the market include growing demand for steel, the significance of steel manufacturing to the country’s economy, and increasing domestic production of steel to reduce reliance on imports.
Key trends aiding market expansion rising residential and commercial construction, a growing demand for automobiles, and manufacturers investing in research to reduce the emissions of steel production.
Major countries in the market are British Columbia, Alberta, The Prairies, Central Canada, and Atlantic Canada.
The key products of steel are flat steel and long steel.
Key players in the market are Algoma Steel Inc., ArcelorMittal Dofasco, Stelco Inc., Gerdau S/A, Rolled Alloys, Canam Group Inc., LMS Reinforcing Steel Group, Walters Inc., and others.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Our Offices
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
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124