Steel Industry Analysis is an important aspect of steel industries around the globe because the needs and the technologies are subject to rapid change with the passage of time. Steel Industry Analysis is required for maintaining the competitive advantage of a country over the other.
The demand for steel is always on the upside because of constant increased want for steel in the following sectors :-
- Construction sector
- Infrastructure sector
- Automobile sector
Steel Industry Analysis is mostly concerned about making the steel more user friendly such as making it light weighted, etc. Another important aspect associated with the Steel Industry Analysis is the constant concern for environment. The analysis helps the industry experts to evaluate the aspects for reduction of pollution related with the production of steel.
The invention of the recycling process of steel is the outcome of Steel Industry Analysis. This analysis also helps the experts in identifying the market share of each country in the production of steel. It shows that after the end of World War 2, the position of USA in the world arena slid slowly but steadily from the largest single producer of steel. Its place was taken over by China after the 1980s.
Steel Industry Analysis is generally performed by consultancy firms where the professionals and experts in this field perform all sorts of physical and economic analysis on different forms of steel and alloys. Some of the aspects on which the Steel Industry Analysis is done involve :-
- Consumption pattern of steel in the domestic as well as foreign market
- Demand structure of steel in different countries
- Existence of market for steel for the intermediary goods
- Existence of market for steel for the final goods
- Cost of production of steel by each firm on a country wise stratification
- Prospect of trade in the steel industry all over the world
- Comparative analysis of the price variation of steel between different countries