The recovery of automobile and construction industries will trigger steel demand in the US to grow at a CAGR of around 4% during 2010-2012, says RNCOS.
Online PR News – 11-June-2010 – – According to our new market research report, “US Steel Industry Outlook”, the US steel industry is currently facing the post recession effects. The complications started in H2 2008 when the US saw a complete failure of its financial market owing to the subprime mortgage crisis. The government has taken some corrective steps in order to revive the overall economy and infuse steel demand in the country. The impact of government stimulus package and recovering industrial demand are expected to transform into steel consumption growth at a CAGR of 4% by 2012.
The study has identified that the automobile industry is one of the largest consumers of steel in the US. The sector accounts for approximately 20% of entire steel consumption. In 2008, the direct steel purchases from US mills were around 4.1 Million Tons. We expect the automobile productions to recover in the late 2010 and a rejuvenated performance is anticipated from 2011 onwards. This will ultimately uplift steel demand in the country and will support the industry to regain its fast growth momentum.
“US Steel Industry Outlook” is an outcome of extensive research and thorough analysis of the steel industry, its components and supporting raw material market trends. The report also discusses the market structure, current and past market performance and factors critical to the success of the steel industry. We have also identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile and provides SWOT analysis of the leading players operating in the sector.
Additionally, the report has given emphasis on the steel consumption trends in all prominent vertical industry segments including automobile, construction and energy. The evaluation provides sector-wise steel industry developments and facilitates deep understanding of steel demand prospects in these sectors enabling a balanced market understanding.
Most importantly, the report has given the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the US steel industry and will prove decisive for clients.
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