Base Year
Historical Year
Forecast Year
The Singapore steel market is projected to grow at a CAGR of 3.2% between 2024 and 2023.
The Singapore steel market is boosted by applications in the construction industry along with use cases in the automotive industry, metalware, and domestic appliances among others.
In the construction industry steel is used for structural frameworks, components, and infrastructure. It offers strength, malleability, durability, and versatility. Steel finds application in skyscrapers, bridges, stadiums, residential buildings, and industrial facilities. Frameworks provide the necessary strength and stability while allowing for innovative architectural designs and efficient construction techniques.
Growth in the steel market in Singapore is largely led by massive infrastructure and construction projects that are at the helm of the country's development plans. Behemoth national and foreign corporations are shaping the industry while keeping in mind sustainability. In December 2023 Singapore-based Meranti Green Steel set up a production plant in Thailand and announced green steel plans in Australia, these plans were joint ventures with local players.
The automotive industry relies heavily on steel for production due to its strength, malleability, versatility, and cost-effective nature. Steel is used in chassis, engine components, suspension systems, breaks and safety features like airbags and seatbelts. Advanced steels are increasingly used in modern vehicles to enhance crash resistance, reduce weight, and improve fuel efficiency while maintaining safety protocols.
Singapore Steel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Type
Market Breakup by Application
Long steel products lead the steel market of the country owing to the wide range of applications that it has in infrastructure and manufacturing. Products made using long steel typically include bars, rods, beams, and structural sections commonly used in construction projects for structural framing and reinforcement due to their strength, durability, and versatility.
Major players in the market are expanding their reach through investments in advanced manufacturing technologies to enhance efficiency and productivity along with green steel initiatives aimed at achieving environmental sustainability.
| 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:
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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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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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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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The market is projected to grow at a CAGR of 3.2% between 2024 and 2032.
The construction market is categorised into carbon steel, alloy steel, stainless steel, and tool steel.
The steel market key players are ArcelorMittal S.A., Toyota Tsusho Corp., SSAB AB, Outokumpu Oyj, Sumitomo Corporation, Hyundai Steel Co., Japan Steel Works, Ltd., Chuan Eu International Pte Ltd., Kobe Steel Ltd., and Tata Steel Limited among others.
The market is broken down into long steel and flat steel.
The market is divided between construction, mechanical engineering, automotive, metalware, domestic appliances, and others.
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Australia
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India
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+91-858-608-1494
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
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
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