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Date Submitted: 01/12/2016 10:20 PM
Forecast on Steel Market in ASEAN Countries
Bharat Book Bureau provides the report, on “ Forecast on Steel Market in ASEAN Countrieshttps://www.bharatbook.com/metals-minerals-market-research-reports-742073/steel-asean-countries.html market research analyst predicts the ASEAN steel market to witness moderate growth at a CAGR of around 6% during the forecast period. The infrastructure and construction sector accounts for more than 52% of the global steel consumption.
13th Jan2016 Mumbai, India: Bharatbook.com announces a report on “ Forecast on Steel Market in ASEAN Countries ". Report also disscussed the 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.
Outlook of the ASEAN steel market
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....