Africa Iron, Steel, and Cast-Iron Market: Demand Analysis & Opportunity Outlook 2029

Research Nester has released a report titled “Africa Iron, Steel, and Cast-Iron Market: Demand Analysis & Opportunity Outlook 2029” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

The real GDP growth in Africa, according to the statistics by the African Development Bank (ADB), witnessed -2.1% in the year 2020, and is further estimated to touch 4.6% in the year 2022.

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The statistics portray the growing GDP of the African continent, backed by the growing infrastructural development across the countries in the continent. Countries, such as Nigeria, South Africa, Egypt, Algeria, and Morocco among others, have been witnessing a large number of construction projects, which is driving the demand for iron, steel, and cast-iron products. Besides this, the construction industry is one of the most booming industrial sectors in the continent and is contributing generously to the continent’s GDP. Such factors are projected to drive the growth of the Africa iron, steel, and cast-iron market.

The Africa iron, steel, and cast-iron market is anticipated to grow with a CAGR of 6.3% over the forecast period, i.e., 2020–2029. The market is estimated to garner a revenue of USD 32789.7 Million by the end of 2029. Moreover, the market generated a revenue of USD 18908.6 Million in the year 2020. The market is segmented by product type into steel, cast-iron, and others. Amongst these, by the end of 2029, the steel segment is expected to generate the largest revenue of USD 30804.4 Million, up from a revenue of USD 17608.4 Million in the year 2020.

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The Africa iron, steel, and cast-iron market is segmented on the basis of region into Northern Africa, Southern Africa, Central Africa, Western Africa, and Eastern Africa. By the end of 2029, the market in Northern Africa is anticipated to garner the largest revenue of USD 17718.4 Million. Further, the market registered a revenue of USD 10243.7 Million in the year 2020.

However, the fluctuation in the price of iron ore is one of the major factors estimated to hinder the market growth in the coming years.

This report also provides the existing competitive scenario of some of the key players of the Africa iron, steel, and cast-iron market, which includes company profiling of ArcelorMittal South Africa Limited, African Industries Group, Steelmor Industries, Ezz Steel, MD IRON STEEL FOUNDRY, Beshay Steel, Scaw Metals Group, Libyan Iron and Steel Company, Maghreb Steel, Suez Steel, and others.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Africa Iron, Steel, and Cast-Iron Market: Demand Analysis & Opportunity Outlook 2029”, analyses the overall Africa iron, steel, and cast-iron industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Africa iron, steel, and cast-iron market in the near future.

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