Asia Pacific Steel Market Size & Outlook, 2023-2030
The steel market in Asia Pacific is expected to reach a projected revenue of US$ 1,503,032.4 million by 2030. A compound annual growth rate of 2.3% is expected of Asia Pacific steel market from 2024 to 2030.
Revenue, 2023 (US$M)
$1,285,566.3
Forecast, 2030 (US$M)
$1,503,032.4
CAGR, 2024 - 2030
2.3%
Report Coverage
Asia Pacific
Asia Pacific steel market, 2018-2030 (US$M)
Asia Pacific steel market highlights
- The Asia Pacific steel market generated a revenue of USD 1,284.0 million in 2023.
- The market is expected to grow at a CAGR of 2.3% from 2024 to 2030.
- In terms of segment, building & construction was the largest revenue generating end use in 2023.
- Consumer Goods is the most lucrative end use segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,284.0 million |
| Market revenue in 2030 | USD 1,501.0 million |
| Growth rate | 2.3% (CAGR from 2024 to 2030) |
| Largest segment | Building & construction |
| Fastest growing segment | Consumer Goods |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Building & Construction, Automotive & Transportation, Heavy Industry, Consumer Goods |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 72.3% of the global steel market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 52.0 million by 2030.
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Steel Market Scope
Steel market segmentation & scope
Countries
U.S.
Canada
Mexico
Germany
UK
France
Spain
Italy
Russia
China
India
Japan
South Korea
Brazil
Argentina
Iran
Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific steel market size, by country, 2018-2030 (US$M)
Asia Pacific Steel Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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