£7.6bn
£XXX.Xm
25,073
259
£X.Xbn
Over the five years through 2024-25, revenue is expected to dip at a compound annual rate of 2.1% to £7.6 billion. Heaps of cheap steel on the global market have undercut British prices and caused big trade partners like the EU to institute import quotas. Unable to lower prices because of high labour costs and environmental charges, industry giants like British Steel and Tata Steel have stated a need for government intervention to continue operating. The industry has also been wracked by volatility. Metal prices initially dropped during the pandemic due to overproduction, but following a swell in demand, prices soared as metal production failed to keep up.
Industry revenue has declined at a CAGR of 2.1 % over the past five years, to reach an estimated £7.6bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2025 | Revenue (£m)
2025 |
---|---|---|
Tata Steel UK Ltd | 1,292.3 | |
British Steel Ltd | 1,077.4 | |
Celsa (UK) Holdings Ltd | 657.0 |
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Industry revenue is measured across several distinct product and services lines, including Sections, Rods and bars and Ingots. Sections is the largest segment of the Iron & Steel Manufacturing in the UK.
Restrictions hit sales of rods and bars on construction sites in the pandemic
Companies in this industry produce iron and steel in blast furnaces or reprocess steel in electric arc furnaces. They make a variety of basic steel products, including ingots, sheets, plates, bars, rods, girders and sections.
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SIC 24.10 - Iron & Steel Manufacturing in the UK
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Soaring iron prices inflate revenue. Iron and steel manufacturers’ revenue swelled significantly as soaring iron ore prices caused them to increase prices.
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Including values and annual change:
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Key data sources in the UK include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Iron & Steel Manufacturing in the UK industry in United Kingdom is £7.6bn in 2024.
There are 259 businesses in the Iron & Steel Manufacturing in the UK industry in United Kingdom, which has grown at a CAGR of 0.2 % between 2019 and 2024.
The market size of the Iron & Steel Manufacturing in the UK industry in United Kingdom has been declining at a CAGR of 2.1 % between 2019 and 2024.
Over the next five years, the Iron & Steel Manufacturing in the UK industry in United Kingdom is expected to decline.
The biggest companies operating in the Iron & Steel Manufacturing market in United Kingdom are Tata Steel UK Ltd, British Steel Ltd and Celsa (UK) Holdings Ltd
Sections and Wirecoil are part of the Iron & Steel Manufacturing in the UK industry.
The company holding the most market share in United Kingdom is Tata Steel UK Ltd.
The level of competition is moderate and steady in the Iron & Steel Manufacturing in the UK industry in United Kingdom.