The Australia steel market size reached USD 19.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 25.8 Billion by 2033, exhibiting a growth rate (CAGR) of 3.16% during 2025-2033. The market is driven by strong demand from the construction, infrastructure, and mining sectors, supported by government investments in renewable energy projects and transportation networks. Rising domestic manufacturing, technological advancements in steel production, and export growth to Asian markets further contribute to the industry's expansion and resilience.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 19.5 Billion |
Market Forecast in 2033 | USD 25.8 Billion |
Market Growth Rate 2025-2033 | 3.16% |
Increasing Demand for Infrastructure Development
The Australian demand for steel is also largely influenced by massive infrastructure development projects like roads, bridges, and rail transport, which are necessary to cater to population growth, urbanization, and economic expansion. Owing to the government's high investment in infrastructure and prioritization of increasing public transport and renewable energy projects, the demand for construction materials such as steel increases. Steel's durability, strength, and flexibility make it the preferred material for these projects. Moreover, the construction sector, which accounts for 52% of global steel demand, relies heavily on steel for sustainable development. As Australia is changing towards a more sustainable style of infrastructure, more focus on green building principles is being implemented. Not only does this fulfill the environmental objective but also energizes the continued high demand for steel throughout Australia.
Fluctuating Steel Prices Due to Global Supply Chain Disruptions
Australian steel prices have experienced dramatic ups and downs on account of supply chain disruptions at the international level, catalyzed by geopolitical tensions as well as the COVID-19 pandemic. Trade wars between prominent steel-producing countries, as well as supply chain blockages, have resulted in volatility in steel production as well as prices. Iron ore and coking coal are two important raw resources that are necessary for the production of steel, and their prices have been impacted by supply chain interruptions. Consequently, the Australia steel market is subject to regular price increases and unpredictability. This volatility is problematic for local producers, who have to navigate the unstable pricing landscape to remain competitive in domestic and foreign markets. Therefore, adjusting to these fluctuations is critical to the viability and development of the Australian steel industry.
Advancements in Steel Recycling and Sustainability
Steel recycling is a key component of Australia's steel industry's growing emphasis on sustainability and minimizing its negative environmental effects. Over 90% of steel in Australia is recycled into new products, showcasing the sector’s commitment to resource efficiency and minimizing carbon footprints. Steel recycling is more energy-efficient than manufacturing virgin steel, hence a greener alternative. Australian businesses are making investments in sophisticated technologies to enhance recycling, and this lowers the dependence on raw materials while providing a steady supply of steel. Such a change is not only beneficial to environmental objectives but also fosters a circular economy through reusing rather than disposing of materials. With the continued increase in demand for green steel, this emphasis on recycling will be expected to propel the Australian steel market as part of worldwide efforts to reduce emissions and ensure sustainable development.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on type, product, and application.
Type Insights:
The report has provided a detailed breakup and analysis of the market based on the type. This includes flat steel, and long steel.
Product Insights:
A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes structural steel, prestressing steel, bright steel, welding wire and rod, iron steel wire, ropes, and braids.
Application Insights:
The report has provided a detailed breakup and analysis of the market based on the application. This includes building and construction, electrical appliances, metal products, automotive, transportation, mechanical equipment, and domestic appliances.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Types Covered | Flat Steel, Long Steel |
Products Covered | Structural Steel, Prestressing Steel, Bright Steel, Welding Wire and Rod, Iron Steel Wire, Ropes, Braids |
Applications Covered | Building and Construction, Electrical Appliances, Metal Products, Automotive, Transportation, Mechanical Equipment, Domestic Appliances |
Regions Covered | Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, Western Australia |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |