CEMAC Steel Market Size - By Steel Product (Steel Rebar, Structural Steel and Others), By Grade, By Thickness, By End Use, By Distribution Channel, Forecast 2024 – 2032

CEMAC Steel Market Size

CEMAC Steel Market was valued at USD 5.6 billion in 2023 and is anticipated to register a CAGR of 4.9% between 2024 and 2032, influenced by regional infrastructure development initiatives. As countries within the CEMAC region, such as Cameroon, Chad, the Central African Republic, Equatorial Guinea, Gabon, and the Republic of Congo, pursue modernization and expansion of their infrastructure, the demand for steel has surged. Investments in transportation networks, energy projects, and urbanization efforts are major drivers of this growth. The push for enhanced connectivity and the development of public facilities necessitates substantial amounts of steel, boosting local production and importation of steel products to meet the rising demand.
 

Government policies and regional trade pacts are pivotal in propelling the steel market's growth in the CEMAC region. Policies advocating for industrialization and economic diversification have spurred investments in the steel sector. Furthermore, trade agreements among CEMAC member states, by facilitating the seamless movement of goods, steel included, across borders, have not only enhanced market accessibility but also bolstered competitiveness, thereby further growing the market.
 

Inadequate infrastructure stands out as a key challenge, directly impacting the efficiency and cost-effectiveness of steel production and its distribution. According to the World Steel Association, subpar transportation networks, erratic energy supplies, and antiquated manufacturing facilities not only escalate production costs but also lead to delays. Adding to the complexity are the competitive pressures from cheaper imported steel and the volatility in global steel prices, making it arduous for local producers to sustain profitability and market share.
 

CEMAC Steel Market Trends

One prominent trend is the heightened emphasis on sustainable and eco-friendly steel production methods. With mounting global and regional environmental concerns, the industry is pivoting towards greener technologies to slash carbon footprints and boost energy efficiency. According to the World Steel Association, the global steel industry aims to reduce CO2 emissions by 30% by 2030, a goal that CEMAC countries are actively contributing.
 

Simultaneously, there's a mounting appetite for top-tier steel, customized to meet precise industrial demands. This appetite is fueled by the region's burgeoning infrastructure projects and a thriving construction sector. The African Development Bank reports that infrastructure investments in Central Africa are expected to grow by 5% annually over the next decade, driving demand for high-quality steel.
 

CEMAC Steel Market Analysis

Based on steel products, the structural steel segment was worth about USD 2.6 billion in 2033 and is expected to reach USD 4.1 billion by 2032. Structural steel stands out in the CEMAC steel industry, lauded for its versatility, strength, and durability. With the CEMAC region intensifying its urbanization efforts, bolstering transportation networks, and expanding industrial setups, the demand for structural steel has seen a significant uptick. According to the African Union of Architects, the use of structural steel in construction projects has increased by 15% annually over the past five years. Its capacity to bear heavy loads and weather harsh conditions positions it as the go-to choice for bridges, high-rises, and expansive industrial plants.
 

Based on end use, the industrial construction segment was recorded USD 1.9 billion in 2023 and is predicted to hit USD 2.8 billion by 2032. Structural steel stands out in the CEMAC steel market, lauded for its versatility, strength, and durability. These qualities render it indispensable for a range of construction and infrastructure projects. With the CEMAC region intensifying its urbanization efforts, bolstering transportation networks, and expanding industrial setups, the demand for structural steel has seen a significant uptick.
 

According to the African Union of Architects, the use of structural steel in construction projects has increased by 15% annually over the past five years. Its capacity to bear heavy loads and weather harsh conditions positions it as the go-to choice for bridges, high-rises, and expansive industrial plants.
 

Based on distribution channel, the indirect distribution channel was crossed USD 5 billion in 2023 and is expected to reach USD 7.8 billion by 2032. In the CEMAC steel market, the indirect distribution channel is preferred due to its ability to effectively reach a wider customer base across diverse geographical areas. Indirect channels, which involve intermediaries such as wholesalers, distributors, and retailers, allow steel manufacturers to leverage the established networks and market knowledge of these intermediaries. This approach is particularly advantageous in the CEMAC region, where logistical challenges and varying market conditions can make direct distribution less efficient.  
 

Country-Level Analysis

Cameroon: In CEMAC steel market, Cameroon dominated with revenue of around USD 1.2 billion in 2023 and with a CAGR of 6.3% from 2024 to 2032. The steel market in Cameroon is witnessing notable expansion, fueled by the nation's robust infrastructure initiatives and economic diversification endeavors. According to the Cameroonian Ministry of Public Works, the government has allocated over USD 1 billion for infrastructure projects in 2024, including roads, bridges, ports, and urban housing, all of which are driving up the demand for steel. Additionally, the Cameroon Construction Industry Association reports a 15% annual growth in the construction sector, backed by a mix of public and private investments, further amplifying this demand.
 

Republic of Congo: In CEMAC steel market, Republic of Congo, dominated with revenue of around USD 773 million in 2023 and will showcase about 5.3% CAGR through 2032. The Republic of Congo's steel market is experiencing substantial growth, fueled by a dual emphasis on infrastructure expansion and economic diversification. Noteworthy investments in transportation, spanning roads, railways, and ports, alongside ambitious urban construction ventures, are amplifying the demand for steel.

According to the Congolese Ministry of Infrastructure, the government allocated USD 1.2 billion in 2023 for transportation projects. Furthermore, the government's initiatives to revamp and enlarge the energy domain, particularly in oil and gas infrastructure, are further bolstering the demand for steel products. The National Oil Company reported a 15% increase in oil and gas infrastructure investments last year.
 

Central African Republic: In CEMAC steel market, Central African Republic, also dominated with revenue of around USD 1 billion in 2023 and with a CAGR of 4.5% up to 2032. With a notable emphasis on bolstering transportation networks, urban construction, and industrialization, the demand for steel is witnessing a notable uptick. According to the Central African Republic's Ministry of Public Works, infrastructure projects have increased by 15% over the past year. Additionally, efforts to revamp the energy infrastructure are further underpinning this demand. Notwithstanding challenges like political volatility and logistical hurdles, the government's initiatives to nurture local industries and curtail import reliance are pivotal in propelling the steel sector's expansion.
 

CEMAC Steel Market Share

The CEMAC steel industry is fragmented, with prominent players, such as African Foundries Limited, Metafrique Group, Nippon Steel Corporation, Lake Group, Zamil Steel holding a market share of 5-10%. These companies dominate the market due to their extensive research and development capabilities, strong global distribution networks, and strategic partnerships within the industry.

CEMAC Steel Market Companies

Major players operating in the CEMAC steel industry include:

• African Foundries Limited
• Bangui Metal Fabricators
• Bimbo Steel Production
• Good Time Steel
• Kankan Iron and Steel
• Lake Group
• LES ACIERIES DU CAMEROUN SARL
• Metafrique Group
• METALCO
• Nippon Steel Corporation
• Sotrafer SARL
• Trimble Inc.
• Yaoundé Steel Manufacturing
• Zamil Steel
• Zenith Steel Fabricators LTD
   

CEMAC Steel Plant Market News

• In January 2024, the African Foundries Limited announced a USD 50 million investment to expand its steel production capacity in Nigeria. In August 2023, they launched a new product line targeting the construction sector. In March 2023, they reported a 10% increase in annual revenue.
   
• In November 2023, Bangui Metal Fabricators secured a government contract to supply steel for a major bridge construction project in the Central African Republic. In July 2023, they expanded their production facility.
   
• In October 2023, Bimbo Steel Production launched a new line of eco-friendly steel products aimed at reducing carbon emissions.
   

This CEMAC steel market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Tons) from 2018 to 2032, for the following segments:

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Market, By Steel Product  

• Steel Rebar
  • CRS (Corrosion Resistant TMT Bars)
  • Earthquake Resistant TMT Bars
  • Ribbed TMT Bars
  • Micro-alloyed TMT Bars
  • Low-relaxation TMT Bars
  • Dual-grade TMT Bar
• Structural Steel
  • Heavy Structural Steel
    • Angle (L Shaped)
    •  Bearing Pile (H Shaped)
    • Channel (C Shaped)
    •  I Beam (I Shaped)
    •  Tee (T Shaped)
    • Pipe
    • Hollow Steel Section
      •  Square Hollow Section
      •  Rectangular Hollow Section
      • Circular Hollow Section
  • Light Structural Steel
    • Angle (L Shaped)
    •  Bearing Pile (H Shaped)
    • Channel (C Shaped)
    •  I Beam (I Shaped)
    •  Tee (T Shaped)
    • Pipe
    • Hollow Steel Section
      •  Square Hollow Section
      •  Rectangular Hollow Section
      • Circular Hollow Section
• Others

Market, By Grade

• Steel Rebar (TMT Bar) 
  • Fe 415
  • Fe 500
  • Fe 550
  • Fe 600
• Structural Steel
  • ASTM A36
  • ASTM A572
  • ASTM A992
  • ASTM A500
  • EN 10025
  • BS 4360
  • JIS G3101
  • DIN 17100
• Others

Market, By Thickness

• Steel Rebar (TMT Bar)
• 8mm -12mm
• 12mm – 16mm
• 16mm – 25mm
• 25mm – 32mm
• 32mm – 50mm

Market, By End Use

• Residential Construction
• Commercial Construction
  • Institutions
  •  Offices
  • Health Building
  • Others
• Industrial Construction
  • Building Construction
  • Industrial Structures
  •  Marine Applications
  • Heavy Equipment
  • Automotive
  • Others
• Infrastructure
  • Dam & Water Channels
  • Bridges and Roadways
  • Transportation Facilities
  • Others

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following countries:

• Cameroon
• Central African Republic
• Chad
• Equatorial Guinea
• Gabon
• Republic of Congo