The South Africa steel market size reached USD 6.82 Billion in 2024. Looking forward, the market is expected to reach USD 9.48 Billion by 2033, exhibiting a growth rate (CAGR) of 3.35% during 2025-2033. Infrastructure growth, industrialization, and rising demand from important industries like construction and automotive are some of the drivers propelling the market. Government regulations, international investments, and the transition to sustainable steel production also boost the market's expansion and increase South Africa market share.
Report Attribute
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Key Statistics
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Base Year
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2024
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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 6.82 Billion |
Market Forecast in 2033 | USD 9.48 Billion |
Market Growth Rate 2025-2033 | 3.35% |
Infrastructure Development
Infrastructure development is one of the primary drivers of the South African steel market's growth. The country's growing emphasis on large infrastructure projects, such roads, bridges, and trains, particularly in the construction and transportation sectors, is driving up demand for steel products. The government's infrastructure expenditure under the National Development Plan (NDP) has spurred a number of development projects, which calls for a significant supply of steel. The rising demand for residential, commercial, and industrial buildings brought on by urbanization in South Africa's major cities further increases the use of steel. As South Africa focuses on infrastructure development and economic recovery, it is expected that steel demand would rise in sectors such residential, commercial, and industrial construction, increasing the competitiveness and market share of the country's steel industry. For example, in May 2025, the International Trade Administration Commission (Itac) recommended that South Africa's Department of Trade, Industry and Competition (dtic) put safeguard charges on imports of hot-rolled steel. The taxes, which begin at 13% in the first year, are intended to shield domestic industries—which are essential to infrastructure projects—from the import boom, which Itac claims is seriously harming the regional steel industry.
Automotive Industry Growth
The expansion of the South Africa steel market growth has been significantly influenced by the automotive industry. Major international automakers including BMW, Toyota, and Volkswagen operate in South Africa, making it one of the continent's most significant automotive production hubs. For the construction of vehicles, these firms need high-quality steel materials, especially for the chassis, body structures, and automotive parts. The need for sophisticated steel materials that meet lightweight, high-strength standards has increased due to the move towards electric vehicles (EVs) and more environmentally friendly automotive solutions. South Africa's steel market share is growing as a result of the automobile industry's increasing demand for steel, which is fueled by both domestic production and export needs. For instance, in November 2024, Scaw Metals produced its first hot-rolled coil at its new R5-Billion Germiston mill in South Africa. This marks a significant milestone for the country's steel industry, reintroducing competition into the flat-steel market. The expansion, which increases production capacity to 750,000 tons per year, is expected to replace about R4 billion worth of steel imports annually. The project also supports South Africa’s manufacturing sector by providing steel for downstream manufacturing industries, including automotive component production.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and provincial levels 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.
Provincial Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Gauteng, KwaZulu-Natal, Western Cape, Mpumalanga, Eastern Cape, and others.
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 |
Provinces Covered | Gauteng, KwaZulu-Natal, Western Cape, Mpumalanga, Eastern Cape, 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:
Key Benefits for Stakeholders: