Indonesia Steel Market 2033

Indonesia Steel Market Size, Share, Trends and Forecast by Type, Product, Application, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A38095

Indonesia Steel Market Overview:

The Indonesia steel market size reached USD 12,587.62 Million in 2024. The market is projected to reach USD 16,582.52 Million by 2033, exhibiting a growth rate (CAGR) of 3.11% during 2025-2033. The market is driven by rapid infrastructure development, fueled by government projects like Nusantara and ongoing urbanization. The growing automotive and manufacturing industries increase demand for quality steel in vehicles, machinery, and construction. Additionally, government policies promoting import substitution, local content requirements, and investment incentives support domestic steel production. Moreover, strong construction demand, industrial growth, and favorable regulations are transforming Indonesia into a key regional steel hub, enhancing self-sufficiency and attracting both local and foreign investment is aiding the Indonesia steel market share.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 12,587.62 Million
Market Forecast in 2033	USD 16,582.52 Million
Market Growth Rate 2025-2033	3.11%

Indonesia Steel Market Trends:

Infrastructure Development and Urbanization

Indonesia's fast urbanization and large infrastructure drive are among the primary drivers of steel consumption. The government's "National Strategic Projects" and construction of the new capital, Nusantara, necessitate huge amounts of steel for bridges, roads, ports, railways, and skyscrapers. Importantly, Nusantara's initial construction phase alone would use 0.5–0.7 million tonnes of steel, with approximately 1 million tonnes for every following phase. Expanding urbanization also fuels demand for residential and commercial building, fueling long and flat steel product consumption. Public expenditure, private investment, and large doses of foreign direct investment by countries such as China and Japan finance the infrastructure outlays. Such projects guarantee consistent, long-term demand for steel, bolstering local production as well as imports. Moreover, the growth of the middle class puts pressure on housing and transport markets, hence infrastructure and urban development sustaining Indonesia's steel market growth.

Automotive and Manufacturing Industry Growth

Indonesia’s automotive and manufacturing sectors are pivotal in driving steel consumption. As the largest car market in Southeast Asia, Indonesia’s demand for automotive-grade steel has surged alongside rising vehicle ownership. The government's focus on becoming a regional automotive manufacturing hub, supported by incentives for electric vehicle (EV) production and local content requirements, has prompted increased investment in domestic manufacturing. Steel is essential for car bodies, engines, and components, driving demand for high-quality flat products. Additionally, the broader manufacturing sector, including machinery, electronics, and consumer goods, requires various steel forms for production and packaging. Growth in these sectors also boosts demand for value-added and specialty steels, stimulating technological upgrades in domestic steel production. As supply chains localize and industrialization expands beyond Java, regional steel demand is becoming more diversified and robust, ensuring sustained consumption within the manufacturing ecosystem.

Government Policy and Import Substitution

Government policy plays a central role in shaping Indonesia’s steel market trends. Through measures like import restrictions, anti-dumping duties, and local content mandates, the government aims to promote domestic production and reduce reliance on imported steel. Initiatives under “Making Indonesia 4.0” support industrial self-sufficiency and encourage technological advancements in steel manufacturing. The development of domestic steel giants, such as Krakatau Steel, is backed by state investment and restructuring efforts to enhance competitiveness. Policies encouraging foreign partnerships and investment in smelters and processing plants (especially for nickel and stainless steel) have created a stronger upstream supply chain. These strategies aim to support local production, stabilize prices, and ensure supply security. By fostering a favorable regulatory environment and protecting the local industry, government policy acts as a key driver for market growth, import substitution, and the development of an integrated, resilient steel sector.

Indonesia Steel Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, product, and application.

Type Insights:

Flat Steel
Long Steel

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:

Structural Steel
Prestressing Steel
Bright Steel
Welding Wire and Rod
Iron Steel Wire
Ropes
Braids

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:

Building and Construction
Electrical Appliances
Metal Products
Automotive
Transportation
Mechanical Equipment
Domestic Appliances

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:

Java
Sumatra
Kalimantan
Sulawesi
Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Java, Sumatra, Kalimantan, Sulawesi, and Others.

Competitive Landscape:

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.

Indonesia Steel Market News:

In August 2024, Jindal Stainless commissioned its Nickel Pig Iron (NPI) smelter in Indonesia’s Halmahera Islands, eight months ahead of schedule. Developed through a joint venture with New Yaking Pte. Ltd., the project secures a long-term nickel supply for stainless steel production. With a 49% equity stake worth USD 157 million, Jindal aims to reduce exposure to volatile global nickel prices and ensure raw material stability outside India, which lacks domestic nickel resources.
In August 2024, Indonesia plans to launch its own Metal Exchange for nickel trading in 2025 to strengthen price control and reduce reliance on China. The initiative, led by the Indonesian Nickel Miners Association (APNI), aims to establish Indonesia as a price-setting authority in the global nickel market. APNI’s General Secretary, Meidy Katrin Lengkey, stated that controlling domestic nickel prices is essential, as the country holds one of the world’s largest nickel reserves, vital for battery and EV industries.
In July 2024, Indonesia launched an online tracking system, SIMBARA, to monitor the movement of nickel and tin from mines to local processing plants, aiming to boost transparency and government revenue. Initially introduced in 2022 for coal, SIMBARA is now expanded to cover other key minerals. Authorities expect this system to improve resource accountability, curb illegal mining activities, and strengthen control over the country’s critical mineral supply chain, essential for industries like stainless steel and electric vehicles.

Indonesia Steel Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type Product Application Region
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	Java, Sumatra, Kalimantan, Sulawesi, Others
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)

Key Questions Answered in This Report:

How has the Indonesia steel market performed so far and how will it perform in the coming years?
What is the breakup of the Indonesia steel market on the basis of type?
What is the breakup of the Indonesia steel market on the basis of product?
What is the breakup of the Indonesia steel market on the basis of application?
What is the breakup of the Indonesia steel market on the basis of region?
What are the various stages in the value chain of the Indonesia steel market?
What are the key driving factors and challenges in the Indonesia steel market?
What is the structure of the Indonesia steel market and who are the key players?
What is the degree of competition in the Indonesia steel market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Indonesia steel market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Indonesia steel market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Indonesia steel industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Purchase Options Discount
Offer

Inquire Before Buying

Speak to an Analyst

Request Brochure

Request Customization

Benefits of Customization

Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.