IBISWorld’s Iron and Steel Smelting market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.


Industry Analysis & Industry Trends

Over the five years to 2017, revenue for the Iron and Steel Smelting industry has fluctuated greatly, growing as much as 5.2% in 2013 and declining as much as 23.9% in 2015. Over the five years to 2017, revenue fell 4.8% annually to $130.5 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 2017, demand for pig iron and crude steel continued to decline, while production decreased.

Industry revenue is forecast to increase at an annualized rate of 1.1% over the next five years to $137.8 billion in 2022. Despite China's continued urbanization and accompanying expansion of infrastructure projects, supply surplus problems persist...

Industry Report - Industry Locations Chapter

Industry operations are mainly located in the North, East, and Middle South China regions. Hebei, Jiangsu, Shandong, Liaoning, and Tianjin accounted for about 53.7% of total industry revenue in 2017. Geographic locations tend to reflect the availability of markets and raw materials, such as iron ore and coke.

Prior to China's economic reforms in the 1980s, the North East China region was the largest producer of iron and steel. However, its share decreased in following years due to the rapid development of the steel industry in North China and coastal areas.


Since 2003, there has been significant expansion of industry revenue in North China due to its proximity to coal and iron ore resources. The..

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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    Industry Products

    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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    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 needs
  • Revenue and output growth
  • Wages and employment
  • Chart: Revenue Growth

  • Industry Outlook
  • International trade
  • Industry concentration
  • Industry 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

  • Products & Markets
    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
    Competitive Landscape
    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
    Major Companies
    Baosteel GroupHebei Iron and Steel Co., LtdAnshan Iron and Steel Group CorporationBohai Steel Group Co. Ltd.
  • Table: Baosteel Group - financial performance
  • Table: Hebei Iron and Steel Co., Ltd - financial performance
  • Table: Anshan Iron and Steel Group Corporation - financial performance
  • Table: Bohai Steel Group Co. Ltd. - financial performance

  • Operating Conditions
    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
    Key Statistics
    Table: Industry Data for the Iron and Steel Smelting Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Total Assets (2008-2022)
  • Crude Steel Output (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    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.
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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

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