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Understanding How Latest Trends Can Offer Growth Opportunities for Companies in the Steel Market – SpendEdge

May 24, 2019
Key Trends in the Steel Market. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 24, 2019--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the key trends impacting the steel market.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190524005264/en/

Key Trends in the Steel Market. (Graphic: Business Wire)

Owing to the strong demand from sectors such as automotive and construction, the experts are predicting steady growth for the steel market. The infrastructure initiatives taken by the emerging economies possess the potential to boost the revenues of companies in the steel industry. However, companies need to be well informed about the latest market trends to gain a competitive edge in the steel market.

At SpendEdge, we understand that conducting a market analysis is imperative for companies to be aware of the upcoming trends and challenges. And to help companies leverage the benefits of this analysis, we have compiled the list of latest trends and challenges influencing the growth of the steel market.

Conducting a market analysis is crucial for companies to understand the happenings in the market. Request a free demo  to access real-time dashboards for free.

Key Trends in the Steel Market:

Trend 1: Rise in the Utilization of Iron Scrap

Companies are expanding the utilization of iron scrap to reduce their carbon footprint. They are focusing on enhancing business’ economic viability to lessen the ecological impact. This is eliminating the need for iron ore extraction and driving subsequently resulting in the growth of the stainless-steel market.

Trend 2: Pre-engineered Buildings

The use of steel for pre-engineered buildings (PEB) is increasing and the PEB market is estimated to surpass almost USD 15 billion by 2020. Also, PEB producers are building their own logistics capabilities predicting a positive growth for steel market.

Wondering how these trends can impact the revenues of steel companies? Request a free proposal to gain complimentary access to our solution portfolio.

Trend 3: Rationalization of Capacity

The Chinese steel industry is expected to change its financial model to address excess steel capacity. They are also concentrating on increasing their capacity utilization. This is going to impact the global steel market as China owns the biggest excess steel capacity in the world.

To access the complete list of trends and challenges influencing the steel market, get in touch with our analysts here!

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Want more information ? We’re happy to help! Tell us more about your business challenges.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190524005264/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING STEEL

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 05/24/2019 11:49 AM/DISC: 05/24/2019 11:49 AM

http://www.businesswire.com/news/home/20190524005264/en

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