World Steel Industries are undergoing a booming phase with all sorts of Mergers and Acquisitions taking place all around the world. The key market players are now subjected to fierce competition from the new companies from developing economies. From the early 1990s, China and South Korea have emerged significantly in the
World Steel Industries.
In the very recent years India is also on a winning streak in terms of M&A. First of all, it was NRI Laxmi Mittal's Mittal Steel (listed in Netherlands) to acquire Arcelor, many times greater than it. Then came the Indian big shot TATA Steel to acquire Corus, the fifth largest steel company in terms of production capacity. Thus, it is being observed that World Steel Industries is going at a very competitive pace and time where the OECD (Organization for Economic Cooperation and Development) countries don't have their monopoly on the steel market.
The main demand for
World Steel Industries comes from the construction industry. With the developmental works on a rise in both the developed and developing countries, the infrastructure industry along with real estate boom, the demand for steel is rising like anything. For example, more and more real estate companies are using steel frames for building houses. In USA, it had been observed in the early 1990s that the use of steel for house building has increased by nearly five times in just one year.
The automobile industry is also coming up fast as a potential demander for
World Steel Industries because from a research it has been found out that the use of steel in the vehicles would cause the weight of the same to lessen by almost twenty five percent.
The other industries who demand steel industries involve appliance industries, Oil and Gas industries and container industries.
On the technological front, the
World Steel Industries are making rapid improvement with the implementation of cutting-edge technologies like steel making through the utilization of electric furnace, continuous annealing, casting of thin slabs, and vacuum degassing.
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