The US represents one of the world's largest steel industries that have recorded fast growth rates in both production and consumption over the past few years. The industry has benefitted from soaring steel demand in the automobile and construction sectors. Moreover, the cost effective and highly efficient steel making technologies worked as a catalyst and uplifted the US steel demand in the Middle East and Asian countries.
According to our new 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 amid subprime mortgage crisis. The crude steel production dropped around 6.7% in 2008 over the previous year and consumption witnessed a steep decline of 10.6%. The downtrend continued in 2009, but the recovery is expected in late 2010.
The government has taken some corrective steps in order to revive the overall economy and infuse steel demand in the country. Out of US$ 787 Billion stimulus package, around 14.6% of the amount is expected to be spent on infrastructural projects requiring steel as an essential construction raw material. This will transform in the consumption of around 11 Million short tons of steel in various federal governments supported projects. Along with the government support, the recovering industrial sector is expected to further infuse steel demand in the US
The report is an outcome of comprehensive research and unbiased analysis of the US steel industry and its various segments to give a clear picture of the past and present market trends. It evaluates the existing market opportunities in relation of factors driving steel demand. The report also contains information about steel pricing and government stimulus package to bring the industry back on growth track.
In addition, the report has made projection for steel demand in different vertical industries to give a rough direction in which the steel industry is likely to move in coming years. The competitive landscape segment is mainly focused on key industry players and provides valuable information about their business description, strategies together with SWOT analysis.