Over the five years to 2018, revenue for the Iron and Steel Smelting industry has fluctuated greatly, growing as much as 8.2% in 2013 and declining as much as 21.6% in 2015. Over the five years to 2018, revenue fell 3.0% annually to $176.2 billion.Total domestic demand has declined since 2012, but total output has increased gradually, thereby worsening supply surplus problems. Furthermore, the prices of steel products has been falling. In 2018, demand for pig iron and crude steel continued to decline, while production decreased.Industry revenue is forecast to increase at an annualized rate of 5.1% over the next five years to $225.5 billion in 2023. Despite China's continued urbanization and accompanying expansion of infrastructure projects, supply surplus problems persist...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Report - Starting a New Business Chapter

Investment scaleLarge investments are required to maintain and upgrade existing operations, and construct new steel mills.Integrated distribution channelsMost large-scale companies in the industry are vertically integrated, with most of the iron and crude steel produced further processed in other plants operated by the same company.Government regulationsThe government is raising entry barriers due to concerns about the lack of efficiency in this highly fragmented industry and environmental issues. Foreign companies are also not permitted to own controlling stakes in Chinese steel companies...purchase to read more.

Additional Insights for the Iron and Steel Smelting Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Iron and Steel Smelting Industry are

  • Economies of scale
  • Use of most efficient work practices
  • Availability of resource
  • IBISWorld analysts also discuss how external factors such as Domestic Goods Prices - Metals - Steel and Output of GDP - Secondary Industry Output in the Iron and Steel Smelting industry impact industry performance..

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    What's in this report

    What is the Iron and Steel Smelting Industry?

    The Iron and Steel Smelting industry in China includes firms that manufacture hot metal, pig iron, cast iron, and cast iron pipes. First, iron is extracted from iron ore in blast furnaces. Then, pig iron and scrap iron are refined, either in basic oxygen or electric arc furnaces, into crude steel. Besides iron ore, other materials like coke, refractory, and water are required in iron and steel smelting.

    Industry Products
  • Crude steel
  • Cast iron pipes
  • Pig iron
  • Industry Activities
  • Molten iron
  • Pig iron
  • Cast iron
  • Cast iron pipes
  • Continuous cast billets
  • Steel ingots
  • Crude steel
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Domestic Goods Prices - Metals - Steel
  • Output of GDP - Secondary Industry Output
  • Downstream Demand - Construction
  • World demand for steel
  • World Prices - Volatility - Minerals - Iron Ore

  • Current Performance
    Technological needsRevenue and output growthWages and employment
  • Chart: Revenue Growth

  • Industry Outlook
    International tradeIndustry concentrationIndustry trends
  • Table: Iron and Steel Smelting Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Iron and Steel Smelting Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Steel Rolling
  • Automobile Manufacturing
  • Building Construction

  • Key Selling Industries
  • Coal Mining
  • Electricity Transmission and Distribution
  • Iron Ore Mining

  • Products & Services
  • Crude steel
  • Cast iron pipes
  • Pig iron
  • Chart: Iron and Steel Smelting Industry Products and Services Segmentation

  • Demand Determinants
  • Demand for steel products
  • Domestic economic growth
  • Demand from downstream industries
  • Current steel consumption level

  • Major Markets
  • Construction sector
  • Machinery manufacturers
  • Light manufacturers
  • Automobile manufacturers
  • Other
  • Shipbuilding manufacturers
  • Chart: Major Market Segmentation for the Iron and Steel Smelting Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Depreciation
  • Wages
  • Utilities
  • Transportation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Iron and Steel Smelting

  • Basis of Competition
  • Price and quality
  • Foreign competition
  • Technical expertise
  • Industrial integration
  • Reliability
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Iron and Steel Smelting Industry

  • Industry Globalization
    China BaoWu Steel Group, HBIS Group Co. Ltd., Ansteel Group Corporation, Bohai Steel Group Co. Ltd.,
  • Table: China BaoWu Steel Group - financial performance
  • Table: HBIS Group Co. Ltd. - financial performance
  • Table: Ansteel Group Corporation - financial performance
  • Table: Bohai Steel Group Co. Ltd. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Iron and Steel Smelting Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Iron and Steel Smelting Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Total Assets (2009-2023)
  • Crude Steel Output (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Blast Furnace
  • A large structure, similar to an oven, in which iron ore is melted to extract the metal.
  • Crude Steel
  • Steel in the first solid state after melting, suitable for further processing or for sale.
  • Pig Iron
  • A form of iron that contains impurities.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Iron and Steel Smelting market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
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    This report on Iron and Steel Smelting:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Iron and Steel Smelting market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Iron and Steel Smelting, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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