Turkey steel market is
anticipated to grow at a steady CAGR during the forecast period, 2023-2027. The
rise in the investments by the leading authorities for the development of the
infrastructure sector of the country and supportive government policies are the
primary factors driving the growth of the Turkey steel market. Also, the
technological advancements in steel production and processing process and
high-end investments by the market players are expected to further support the
Turkey steel market growth in the forecast period.
Flourishing Steel Industry
Drives the Market Growth
Turkey is among the top
leading players in steel production and exportation across the globe. It boasts
of producing quality products and invests significant amounts in expanding flat
products production capacity and developing novel technology. Turkey's unique
geographical location has a long Mediterranean coastline to serve European
steel markets more efficiently and quickly. Turkey accounts for 24 electric arc
furnace mills and two induction furnaces with a capacity ranging between
200,000 to 5 million tonnes and 3 BOF plants. All the steel companies in Turkey
are privately owned, and the market players are making continuous efforts for
technological advancements to stay ahead in the market at the country and
global level. The iron & steel industry is the third-largest contributor to
the Turkish economy and has become one of the most developed sectors in Turkey.
Also, the market players are working on increasing their steel production
capacity. They have started several projects in the flat products segment and
are introducing new production facilities and modernizing the existing
facilities. The continuous efforts by the market players and the use of
advanced technologies in the production process are expected to accelerate the
Turkey steel market growth over the forecast period.
Strong Economic Position of
Turkey Supports the High Market Demand
According to the data
generated by World Steel Association, Turkey churned out 40.4 million tons of
crude steel, which increased the percent up to 12.7% by 2020. Market players
are working to fuel their production and export to record levels in 2021, and
further increase their production capacity in the coming years. The dramatic
devaluation of the lira has increased the cost of raw materials. It pressured
the small steel producers to deal in domestic markets, while for the medium and
large exporters who exported the steel, it proved as a boon. Also, the sudden
increase in transportation costs has made the steel buyers look for near home
and convenient places, thereby bolstering the demand for Turkey steel industry
in the nearby countries over the forecast period. The Turkish government has
signed custom union agreements with the European Union and free trade
agreements with more than twenty countries, including Malaysia, Singapore,
Israel, the United Kingdom, and Egypt. Turkey is also planning to use
relatively low carbon intensity steel to meet the demands of the companies that
aim to achieve net-zero emissions. Therefore, the rise in the efforts by the
leading authorities to support the steel industry and the strong economic
position of Turkey is expected to propel the growth of Turkey steel market in
the next five years.

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Market Segmentation
Turkey steel market is
segmented into type,
product, application, regional distribution, and company. Based on type, the market is
divided into flat and long. Based on product, the market is divided into structural
steel and prestressing steel. Based on application, the market is divided into building
& construction, automotive, electrical appliance, and others. Turkey
steel market is studied in major regions namely Marmara, Central Anatolia,
Aegean, Mediterranean, Black Sea, South-Eastern Anatolia, and Eastern Anatolia.
Market Players
Erdemir Group, Habas, Icdas,
Diler Group, Colakoglu Metalurji, ArcelorMittal, POSCO, NSSMC Group, HBIS
Group, Nucor Corporation, are the major market players operating in the Turkey steel
market.
Attribute
|
Details
|
Base Year
|
2021
|
Historic Data
|
2017 – 2020
|
Estimated Year
|
2022
|
Forecast Period
|
2023 – 2027
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2017-2021
and 2022-2027
|
Report coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
Segments covered
|
·
Type
·
Product
·
Application
|
Regional scope
|
Marmara , Central Anatolia, Aegean, Mediterranean, Black Sea, South-Eastern
Anatolia, Eastern Anatolia
|
Key companies profiled
|
Erdemir Group, Habas, Icdas, Diler Group,
Colakoglu Metalurji, ArcelorMittal, POSCO, NSSMC Group, HBIS Group, Nucor
Corporation
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to regional & segment scope.
|
Pricing and purchase options
|
Avail customized purchase options to meet
your exact research needs. Explore purchase options
|
Delivery Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, Turkey steel
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Turkey Steel Market,
By Type:
- 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
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Turkey steel market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Turkey steel market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]