NEW YORK, Jan. 12, 2016 /PRNewswire/ -- Technavio's market research analyst predicts the ASEAN steel market to witness moderate growth at a CAGR of around 6% during the forecast period. The automotive industry, mechanical machinery, and infrastructure and construction industries are the primary users of steel and have been driving the growth of the ASEAN steel market. The infrastructure and construction sector accounts for more than 52% of the global steel consumption. This research report predicts that the increase in the GDP in the ASEAN countries will lead to excess spending in the end-user industries, creating a high demand for steel manufacturing in this region.
The supply shortage in this region is anticipated to deter the growth of the market during the forecast period. Mining mills in this region have suffered from unsustainably high operating cost and the reliance on electric arc furnace steelmaking, which has limitations on the raw material used by steel makers. With the steel supply overhauling demand, this has resulted in reduced profit margins for steel manufacturers in the ASEAN region.
Segmentation by type and analysis of - carbon steel, alloy steel, stainless steel
Stainless steel mostly contains 10-20% of chromium as the main alloying element and have high corrosion resistance. It is further classified into austenitic, ferritic, and martensitic.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
Segmentation by end user and analysis of - automotive, infrastructure and construction, mechanical machinery
Infrastructure and construction accounted for nearly 52% of the overall market during 2014. Steel-intensive infrastructure such as roads, rail, ports, airports, marine, and power are the primary drivers for the increase in the demand for steel in ASEAN countries.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth –
Infrastructure and construction
Others (electrical equipment, domestic appliances, marine, and transportation)
Competitive landscape and key vendors - TISCO, Nat Steel, Gunung Steel, Lions Group, G Steel
The ASEAN steel market is highly fragmented with the presence of many international and regional vendors. The market is highly competitive resulting in lower steel prices and reduced profit margins. The report anticipates China's steel industry to consolidate, and excess steel producing capacity to be closed by the end of the forecast period.
The leading vendors in the market are –
Nat Steel Holding
PT Karkatau Steel
The Lions Group
Other prominent vendors in the market include Core Steel, Dragon Steel, GJ Steel, HoaPhat Steel, Jayapari Steel, Ji kang Dimensi, Lion Plate Mills, LPN Steel, PT Gunung Raja Steel, Tung Ho Steel, and Union Galvasteel.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the ASEAN steel market?
What are the key market trends impacting the growth of the ASEAN steel market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the ASEAN steel market?
What are the key outcomes of the five forces analysis of the ASEAN steel market?
Technavio also offers customization on reports based on specific client requirement.
Read the full report: http://www.reportlinker.com/p03546962-summary/view-report.html
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