DUBLIN--(BUSINESS WIRE)--The "Turkey Steel Market, By Type (Flat and Long), By Product (Structural Steel, Prestressing Steel), By Application (Building & Construction, Automotive, Electrical Appliance, Others), By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Turkey steel market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the rising investments by leading authorities for infrastructural development. Besides, supportive government policies for boosting the construction sector and technological advancements in steel production are supporting the market growth during the forecast period. Additionally, high-end investments by market players are expected to contribute to the growth of the Turkey steel market in the coming five years.
Turkey is one of the world's leading players in steel manufacturing and exportation. The country takes pride in manufacturing high-quality steel products and makes large investments in growing flat-product production capacity and developing unique technology. Turkey's unique geographical location, which includes a lengthy Mediterranean coastline, allows it to supply European steel markets more efficiently and rapidly. Turkey has 24 electric arc furnace mills, two induction furnaces with capacities ranging from 200,000 to 5 million tonnes, and three BOF units. All steel businesses in Turkey are privately owned, and market participants are constantly striving for technological breakthroughs to remain competitive on a national and worldwide scale.
The iron and steel industry is Turkey's third-largest contributor to the economy and one of its most developed sectors. In addition, market participants are seeking to increase their steel manufacturing capacity. They have begun many projects in the flat products market, including introducing new production facilities and modernizing existing ones. Continuous efforts by industry participants and the implementation of modern technologies in the manufacturing process are likely to boost the expansion of the Turkey steel market throughout the forecast period.
According to World Steel Association data, Turkey produced 40.4 million tonnes of crude steel, increasing the percentage to 12.7 percent by 2020. Market participants are trying to boost output and exports to record levels in 2021 and improve production capacity in the next years. The severe depreciation of the Turkish lira has raised the cost of basic commodities. It forced small steel producers to deal in domestic markets, benefiting medium and large exporters who exported steel. Furthermore, the abrupt spike in shipping costs has caused steel consumers to seek locations close to home and convenient, boosting demand for Turkey's steel sector in neighboring nations.
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope
Turkey Steel Market, By Type:
- Flat
- Long
Turkey Steel Market, By Product:
- Structural Steel
- Prestressing Steel
Turkey Steel Market, By Application:
- Building & Construction
- Automotive
- Electrical Appliance
- Others
Turkey Steel Market, By Region:
- Marmara
- Central Anatolia
- Aegean
- Mediterranean
- Black Sea Region
- South-Eastern Anatolia
- Eastern Anatolia
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Turkey Steel Market
4. Executive Summary
5. Voice of Customers
6. Turkey Steel Market Outlook
7. Turkey Flat Steel Market Outlook
8. Turkey Long Steel Market Outlook
9. Market Dynamics
10. Market Trends & Developments
11. Policy & Regulator Landscape
12. Turkey Economic Profile
13. Company Profiles
14. Strategic Recommendations
Companies Mentioned
- Eregli Demir ve Celik Fab. T.A.S. (Erdemir)
- KOCAER STEEL
- Kroman Celik
- Asil Celik
- Tosyali Holding
- Kardemir Haddecilik Sanayi ve Ticaret A.S
- ISIK CELIK SANAYI VE TICARET A.S.
- Yildizlar Demir Celik
- Marcegaglia Turkey
- Somal Sac Sanayi ve Ticaret Ltd. Sti.
For more information about this report visit https://www.researchandmarkets.com/r/ohmhv8
