MALAYSIA STEEL MARKET

INTRODUCTION

For Malaysia's industrial and economic development to flourish, steel is essential. The steel industry, one of the top industries in the nation, is essential to Malaysia's building and manufacturing sectors. Various significant characteristics define the function of steel in Malaysia.

Above all, steel is the foundation of Malaysia's building sector. It is the main component utilized in the construction of buildings, transportation networks, and infrastructure. Steel is a necessary material for high-rise structures, bridges, highways, and other vital infrastructure projects because of its strength, resilience, and adaptability. The capacity of the steel industry to deliver a consistent and affordable supply of steel products is intrinsically linked to the building industry's sustained expansion in Malaysia.

Moreover, Malaysia's steel industry makes a substantial economic contribution to the country. It offers a significant number of people work opportunities in everything from steel manufacturing and processing to sales and distribution. In addition to creating jobs, this business promotes the growth of adjacent industries including engineering, logistics, and metalworking.

Additionally, steel is necessary for Malaysia's manufacturing industry. It is employed in the manufacturing of numerous pieces of consumer items, machinery, and equipment. As a result, having access to high-quality steel products is crucial for preserving the competitiveness of the industrial sector both domestically and internationally. In Malaysia, steel plays a variety of roles. It promotes economic expansion, helps the manufacturing industry, and serves as the foundation for infrastructure development and building. Not only is the steel sector essential to the nation's growth, but it also makes a substantial contribution to employment and trade balance. Malaysia's steel sector is and will be a vital component of the country's industrial and economic development.

MALAYSIA STEEL MARKET SIZE AND FORECAST

The Malaysia Steel Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

MALAYSIA STEEL MARKET RECENT DEVELOPMENT

The second blast furnace, which can generate millions of tons of steel annually, has been formally inaugurated by Malaysian steel manufacturer Eastern Steel. According to Steel Orbis, this is anticipated to result in a rise in the supply of slabs. The unit was in experimental manufacturing not so long ago. In the summer, Eastern Steel also opened a coke chemical unit and a sinter facility. Before then, the Kem Aman steel plant utilized a single blast furnace that could process thousands of tons of steel annually.

While both billets and slabs are produced by Eastern Steel, the latter is prioritized due to its greater export market. The opening of the company's second blast furnace was anticipated by market participants, who believed it would boost the supply of slabs. The second stage of the development project for the steel factory is the activation of the second blast furnace. The installation of a hot rolling line with an annual capacity of over two million tons is scheduled for the third stage.  

THIS MALAYSIA STEEL MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How much Steel is manufactured per annum in Malaysia? Who are the sub-component suppliers in the region?
2. Cost breakup of Malaysia Steel and key vendor selection criteria
3. Where is the Steel manufactured? What is the average margin per unit?
4. Market share of Malaysia Steel market manufacturers and their upcoming products
5. The cost advantage for OEMs who manufacture Malaysia Steel  in-house
6. key predictions for the next 5 years in the Malaysia steel market
7. Average B-2-B Steel market price in all segments
8. Latest trends in the Steel market, by every market segment
9. The market size (both volume and value) of the Steel market in 2024-2030 and every year in between?
10. Production breakup of the Steel market, by suppliers and their OEM relationship