Steel Billets Industry Procurement Intelligence Report, 2027

Steel Billets Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 - 2027

  • Published Date: ---
  • Base Year for Estimate: 2020
  • Report ID: GVR-P-10526
  • Format: Electronic (PDF)
  • Historical Data: 2018-2019
  • Number of Pages: 0

Procurement Outlook

Steel billets are produced during the process of steel production. It is produced by smelting, refining, and continuous casting of steel scraps. Steel billets are used to make steel bars and poles. It is also used for metal casting. It can be categorized into the following types:

  • Slab billets:

  • Square billets

  • Round billets

  • Flat billets

  • Hexagonal billets

  • Hollow billets

Steel billets have a specific grain structure, which enables the metal to be processed more intricately. It is also known for its malleability and ductility, especially when it is exposed to varying temperatures during shaping and molding.

Demand Outlook

The global steel billets market was valued at ~USD 4 billion in 2020 and it is expected to grow at a CAGR of 3.5% from 2020 to 2027 due to increasing demand from construction industries across APAC and Middle East. APAC is the largest producer of steel billets with more than 60% of the overall market share followed by Europe and North America. Slab-type steel billets are the most commonly used billets across construction industries. It accounted for more than 50% of the global steel billets industry. Around 40% of the steel billets produced globally are used for rebar manufacturing.

Cost Drivers

Steel billets manufacturing costs can be categorized into two types; direct costs and indirect costs. Direct cost accounted for 70% of the overall cost of production. It includes steel scrap collection costs, transportation costs, storage costs, and the cost of smelting, refining, casting. Major indirect costs include labor costs and maintenance cost.

Constraints

The Covid-19 pandemic has slandered the global steel billets market. As many governments were forced to temporarily halt large-scale industrial operations, the demand for steel billets from the construction industry dropped drastically. Hence, billet manufacturers had to reduce the market price and incur losses to clear the old stocks. For instance, in June 2021, Iranian steel billet export price decreased by 2% due to lack of demand from the major consuming regions of Asia and the Middle East.

Supply Chain

ArcelorMittal, Baosteel, Shagang Group, Anshan Steel, Jianlong Group, Valin Group, Masteel, Benxi Iron & Steel, Rongmao Industrial Group, Rockcheck Group, Nucor Corp, Posco are some of the key manufacturers. The global steel billets industry features a highly fragmented landscape as the industry leaders contribute less than 30% of the overall market share. Leading suppliers are strengthening their presence through multiple mergers and acquisitions. Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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