Steel rose to 3,117 CNY/T on December 2, 2025, up 0.23% from the previous day. Over the past month, Steel's price has risen 1.30%, but it is still 7.09% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on December of 2025.

Monthly and long-term steel (usa) price data (US$/mt): historical series and analyst forecasts curated by FocusEconomics.

HRC Steel fell to 891.06 USD/T on December 2, 2025, down 0.88% from the previous day. Over the past month, HRC Steel's price has risen 5.08%, and is up 29.14% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for HRC Steel.

Monthly and long-term steel (europe) price data (US$/mt): historical series and analyst forecasts curated by FocusEconomics.

This statistic shows the monthly prices of U.S. flat rolled steel throughout 2018, with a breakdown by main product type. Flat rolled steel is often used in pipe work, boilers, and construction. Plate steel, which is a relatively thick product and used in shipbuilding, cost *** U.S. dollars per short ton at the start of 2018 in January.

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Steel Market Size 2025-2029

The steel market size is valued to increase USD 307.4 billion, at a CAGR of 4.5% from 2024 to 2029. Urbanization and infrastructure development will drive the steel market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 67% growth during the forecast period.
By Type - Flat steel segment was valued at USD 797.80 billion in 2023
By Application - Structural steel segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 28.76 billion
Market Future Opportunities: USD 307.40 billion
CAGR from 2024 to 2029 : 4.5%

Market Summary

The market is a significant player in the industrial sector, with a current size of over 1,300 million metric tons in annual production. This market's expansion is primarily driven by urbanization and infrastructure development, as steel is a crucial component in constructing buildings, bridges, and transportation systems. Additionally, there is a growing trend toward sustainable steel production, as companies seek to reduce their carbon footprint and meet increasing environmental regulations. However, the market faces challenges from trade barriers and protectionist policies, which can disrupt global supply chains and impact pricing. These issues can lead to volatility in the market and create uncertainty for businesses.
Despite these challenges, the steel industry continues to evolve, with innovations in production methods and materials driving efficiency and cost savings. As the world's population grows and urbanizes, the demand for steel is expected to remain strong, making it an essential commodity for businesses across various industries.

What will be the Size of the Steel Market during the forecast period?

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How is the Steel Market Segmented ?

The steel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Flat steel
  Long steel


Application

  Structural steel
  Automotive steel
  Electrical steel
  Packaging steel


End-user

  Construction
  Transportation
  Machinery
  Metal goods
  Others


Method

  Basic oxygen furnace
  Electric arc furnace
  Open hearth furnace


Geography

  North America

    US
    Mexico


  Europe

    Germany
    Italy
    Russia


  Middle East and Africa

    Turkey


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The flat steel segment is estimated to witness significant growth during the forecast period.

In the ever-evolving market, flat steel, a significant sector, is characterized by its versatility and robustness. This category includes hot-rolled coils (HRC), cold-rolled coils (CRC), galvanized steel, tinplate, and steel plates, each designed to meet specific industrial demands. Hot-rolled steel sheets offer high yield strength and tensile strength, while cold-rolled steel sheets provide improved surface finish and formability. Galvanized steel coatings ensure corrosion resistance, making them ideal for harsh environments. The steel industry continues to innovate, with advancements in heat treatment processes, steel weldability, and microalloyed steel grades. Ductile iron properties and stainless steel grades cater to high-strength applications, while steel forming processes enhance production efficiency.

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The Flat steel segment was valued at USD 797.80 billion in 2019 and showed a gradual increase during the forecast period.

Steel quality control is ensured through non-destructive testing and microstructure analysis. The steel industry's focus on research and development has led to the emergence of high-strength low-alloy steel, which boasts impressive strength-to-weight ratios. A notable example of flat steel's impact is its extensive use in the automotive sector, where it contributes to the manufacturing of body panels and structural components. In fact, the automotive industry accounts for approximately 16% of global steel consumption. As the market continues to evolve, the demand for advanced materials and processing technologies will persist, driving innovation and growth within this essential industry.

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Regional Analysis

APAC is estimated to contribute 67% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Asia-Pacific (APAC) region is experiencing significant growth, fueled by industrial expansion, infrastructure devel

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Steel Manufacturing Market Size 2025-2029

The steel manufacturing market size is valued to increase USD 455.4 billion, at a CAGR of 4.5% from 2024 to 2029. Upsurge in consumption of high-strength steel will drive the steel manufacturing market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 54% growth during the forecast period.
By End-user - Construction segment was valued at USD 793.30 billion in 2023
By Type - Flat segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 35.51 billion
Market Future Opportunities: USD 455.40 billion
CAGR : 4.5%
APAC: Largest market in 2023

Market Summary

The market encompasses the production and distribution of primary steel products, including iron, alloy, and specialty steel. This dynamic industry is driven by several key factors. The upsurge in consumption of high-strength steel, particularly in automotive and construction sectors, is a major growth catalyst. According to the World Steel Association, global steel demand reached 1.8 billion metric tons in 2020, with automotive and construction accounting for approximately 50% of the total consumption. Core technologies, such as electric arc furnaces and continuous casting, are transforming the manufacturing landscape, enabling increased efficiency and productivity. The market also faces challenges, including excess production capacity and growing demand for steel and stainless steel scrap.
Regulations, including environmental and safety standards, continue to evolve, shaping the competitive landscape. In 2021, the European Union's Green Deal aims to make Europe carbon neutral by 2050, potentially impacting the steel industry's production methods and raw material sourcing. Despite these challenges, opportunities abound, particularly in emerging markets and innovative applications. For instance, the increasing adoption of electric vehicles is expected to boost demand for high-strength steel. In 2020, the electric vehicle market share was approximately 3% of global vehicle sales, with projections indicating significant growth in the coming years. As the market continues to unfold, stakeholders must stay informed of these trends and adapt to the evolving landscape.

What will be the Size of the Steel Manufacturing Market during the forecast period?

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How is the Steel Manufacturing Market Segmented and what are the key trends of market segmentation?

The steel manufacturing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Construction
  Machinery
  Automotive
  Metal products
  Others


Type

  Flat
  Long


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Russia
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.

The market is a significant global industry, with the construction sector being its largest consumer in 2024. This sector's growth is driven by the construction of various infrastructure projects such as skyscrapers, tech parks, roads, motorways, and bridges. Steel's popularity in the building industry is due to its exceptional properties, including durability, strength, affordability, and adaptability for prolonged weather exposure. In the manufacturing process, material testing procedures ensure product quality and consistency. Annealing processes refine the steel's microstructure, enhancing its mechanical properties. Robotics in steelmaking streamline production, increasing efficiency and reducing labor costs. Surface treatments protect steel from corrosion and improve its appearance.

Waste management strategies minimize environmental impact, aligning with industry sustainability goals. Stainless steel production represents a growing segment due to its resistance to corrosion and high strength. Heat treatment processes further refine the steel's properties, while inventory management systems optimize production schedules. Basic oxygen furnaces and electric arc furnaces are essential in steel production, with the latter offering increased flexibility and energy efficiency. Defect detection methods employ advanced technologies like digital twin technology and mechanical properties testing to minimize production downtime and improve product quality. Alloy steel production caters to various industries, with process optimization techniques ensuring optimal yield and energy efficiency.

Energy efficiency metrics are crucial in the industry, with galvanizin

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Stainless Steel Market Size 2023-2027

The stainless steel market size is forecasted to increase by 10,299.64 thousand tons at a CAGR of 3.38% between 2022 and 2027. Market growth relies on various factors, notably the increased consumption of high-strength stainless steel, propelled by its corrosion resistance and excellent mechanical properties. Additionally, economic expansion in China and India contributes significantly to market growth. As these nations continue to develop industrially and infrastructurally, the demand for stainless steel, particularly for construction and manufacturing applications, is expected to rise. This confluence of factors positions the market for substantial growth in the foreseeable future. Furthermore, the stainless steel market analysis report includes historic market data from 2017 to 2021. The stainless steel market forecast indicates robust expansion, driven by increasing demand for steel across various industries. The stainless steel market size growth is propelled by advancements in production technologies and the rise of sustainable manufacturing practices. Current stainless steel market trends show a surge in applications, particularly in construction and automotive sectors, underscoring its vital role in modern infrastructure.

What will be the Size of the Stainless Steel Market During the Forecast Period?

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Stainless Steel Market Segmentation

The stainless steel market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Million' for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments

End-user Outlook 

  Metal products
  Mechanical engineering
  Automobile and transportation
  Infrastructure and construction
  Electrical engineering





Product Outlook

  Flat
  Long





Region Outlook

  North America

    The US
    Canada


  Europe

    The UK
    Germany
    France
    Rest of Europe


  APAC

    China
    India


  Middle East and Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East and Africa


  South America

    Argentina
    Brazil
    Chile

By End-user

The market share growth by the metal products segment will be significant during the forecast period. The use of stainless steel in metal products provides an aesthetic appeal, extensive textures, strength, functionality, corrosion resistance properties, and ease of cleaning properties such products, driving the growth of steel manufacturing. The demand for stainless steel for manufacturing metal products is high due to its ease of fabrication and mechanical properties.

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The metal products segment showed a gradual increase in the market share of 20,426.71 thousand t in 2017. Stainless steel is used in jewelry, belt buckles, clips, casings, watch straps and backs, cooker hoods, outdoor kitchen cabinets, worktops, drainers, sinks, and others. It is also used in kitchen vessels due to its hygiene properties, durability, and resilience to food discoloration and spoilage. The shift in consumer preference toward hygienic and easy-to-clean products is likely to increase the demand for stainless steel in metal products during the forecast period.

By Region

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APAC is estimated to account for 76% of the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC has some of the largest stainless steel-producing countries in the world, such as China, Japan, South Korea, and India. China was the largest producer and consumer of stainless steel in 2020. Manufacturers are shifting to the consumption of scrap steel and stainless steel as raw materials to reduce pollution as well as manufacturing costs. These factors will drive the growth of the market in APAC during the forecast period.

Stainless Steel Market Dynamics

The market plays a vital role across various sectors, including residential housing, building & construction, railways, and automotive & transportation. Its resistance to corrosion surpasses that of carbon steel, making it a preferred choice. Renowned companies like Jindal Steel and Daido Steel contribute to its production capacities. Stainless steel finds applications in diverse architectural elements such as railings, roofing, and staircases, offering both pliability and appealing aesthetic properties. Moreover, it serves industrial needs like heat exchangers and tubulars, alongside providing swimming pool shades, canopies, and atriums with durability and low maintenance cost during repair and renovation. The stainless ste

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TMT Steel Bar Market Size 2025-2029

The TMT steel bar market size is forecast to increase by USD 91 billion, at a CAGR of 4.3% between 2024 and 2029.

Major Market Trends & Insights

APAC dominated the market and accounted for a 77% growth during the forecast period.
By the End-user - Residential segment was valued at USD 164.10 billion in 2023
By the Grade Type - Fe 415 segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 37.18 billion
Market Future Opportunities: USD 91.00 billion 
CAGR : 4.3%
APAC: Largest market in 2023

Market Summary

The TMT (Thermo-Mechanically Treated) steel bar market demonstrates a significant role in various industries, including construction and infrastructure. According to industry reports, the market's growth is driven by the increasing adoption of TMT steel bars due to their superior strength, durability, and resistance to corrosion. Compared to traditional steel bars, TMT steel bars exhibit a higher yield strength and tensile strength, making them an attractive choice for structural applications. Moreover, the demand for seismic resistance is a key factor fueling the market's expansion. In regions prone to earthquakes, the use of TMT steel bars is becoming increasingly popular due to their ability to withstand seismic forces.
For instance, in India, the Bureau of Indian Standards (BIS) mandates the use of TMT steel bars in earthquake-prone areas. Despite these growth drivers, the market faces challenges such as fluctuating raw material costs for making TMT steel bars. However, advancements in production technologies and the increasing focus on energy efficiency are expected to mitigate these challenges. The market is expected to continue evolving, with a focus on innovation and sustainability.

What will be the Size of the TMT Steel Bar Market during the forecast period?

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The market exhibits a steady expansion, with current sales accounting for approximately 120 million metric tons worldwide. Looking forward, growth is anticipated to persist, with forecasts suggesting a 5% annual increase in demand. Notably, Asia Pacific is a significant contributor to the market's expansion, accounting for over 60% of global sales. In contrast, Europe and North America represent smaller yet growing markets, with a combined share of around 25%.
This regional disparity underscores the importance of effective supply chain management and cost-effective manufacturing strategies for market participants. Additionally, stringent regulatory compliance, quality control processes, and production process optimization remain essential to ensure the market's continuous growth and competitiveness.

How is this TMT Steel Bar Industry segmented?

The tmt steel bar industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Residential
  Commercial
  Infrastructure


Grade Type

  Fe 415
  Fe 500 and 500D
  Fe 550 and 550D
  Fe 600
  Others


Diameter Size

  6-8 mm
  8-12 mm
  12-20 mm
  Above 20 mm


Distribution Channel

  Direct Sales
  Dealers & Distributors
  Online Sales
  Retail Hardware Stores


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The residential segment is estimated to witness significant growth during the forecast period.

TMT steel bars play a pivotal role in the residential construction sector, offering numerous advantages due to their superior properties and durability. These bars are widely utilized in various types of residential structures to ensure structural integrity and safety. TMT bars boast high tensile strength and excellent ductility, making them suitable for withstanding the stresses and loads that residential buildings encounter throughout their lifespan. Their superior strength-to-weight ratio enables the construction of safer and more reliable structures. Moreover, TMT bars exhibit good elongation properties, which enable them to deform without breaking during seismic events. This property is essential for maintaining a building's structural integrity during earthquakes and preventing catastrophic collapses.

Inventory management in steel production is a critical aspect of TMT bar manufacturing, ensuring efficient production and minimal waste. Rebar splicing techniques and dimensional tolerances are essential for ensuring seamless integration of TM

According to Cognitive Market Research, the global Ferro Niobium market size was USD 3125.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1250.20 million in 2024 and will rise at the compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 937.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 718.87 million in 2024 and will rise at the compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 156.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 62.51 million in 2024 and will rise at the compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The briquettes category is the fastest growing segment of the Ferro Niobium industry

Market Dynamics of Ferro Niobium Market

Key Drivers for Ferro Niobium Market

Increasing Demand for Renewable Energy Infrastructure to Boost Market Growth

The shift towards renewable energy and clean technologies is another key driver for the Ferro Niobium market. Ferro niobium plays an essential role in producing high-strength alloys used in energy generation equipment, inclusive of wind turbines, solar panels and energy storage systems. In wind turbine manufacturing, niobium is used to produce steel alloys that can withstand extreme environmental conditions, enhancing turbine longevity and efficiency. Additionally, niobium-based alloys are increasingly being used in the production of power generation turbines and other infrastructure involved in renewable energy systems. As governments and industries prioritize sustainable energy solutions, the demand for these durable, high-performance alloys continues to rise. This trend, coupled with the global focus on reducing carbon emissions and increasing the deployment of renewable energy infrastructure, has significantly contributed to the growing demand for Ferro niobium in the energy sector. For instance, CBMM invested USD 80 million to grow its niobium oxide capacity from 500 tons to 3,000 tons by the year 2024. Collaborating with Echion Technologies, CBMM proposes to establish a niobium oxide facility at its Araxá plant in Brazil, aligning with its goal of attaining a niobium oxide capacity of 40,000 tons by 2030.

Rising Demand for High-Performance Steel to Drive Market Growth

A key driving factor for the Ferro Niobium market is the growing demand for high-performance steel, particularly in the automotive, aerospace, and construction industries. Ferro niobium is a crucial alloying element that enhances the strength, durability, and resistance to corrosion of steel. As industries focus on developing lighter, stronger, and more fuel-efficient materials, especially for vehicles and aircraft, the demand for niobium-containing steel increases. Additionally, the trend towards using high-strength steel for structural applications, including bridges and buildings, further boosts Ferro niobium demand. The automotive sector, in particular, relies on niobium for manufacturing advanced lightweight materials that contribute to fuel efficiency and emission reductions. As global infrastructure projects and manufacturing activities expand, Ferro niobium's role in improving the performance of steel will continue to drive market growth.

Restraint Factor for the Ferro Niobium Market

Environmental and Regulatory Challenges Will Limit Market Growth

The ferro niobium market also faces significant restraining factors due to environmental concerns and strict regulations governing the extraction and production processes. Niobium mining and ferro niobium production involve significant environmental impacts, like deforestation, land degradation, and pollution. With increasing global focus on sustainability, stricter environmental regulations are being enforced, particularly in countries with high niobium production. These regulations can result in surged operational costs for manufacturers, especially for compliance ...