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CEMAC Steel Market Trends

Report ID: GMI10604
Published Date: Aug 2024
Report Format: PDF

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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.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of CEMAC steel was worth over USD 5.6 billion in 2023 and is expected to register 4.9% CAGR from 2024 to 2032, owing to the rising regional infrastructure development initiatives.

CEMAC steel industry from the structural steel segment is expected to reach USD 4.1 billion by 2032, due to its versatility, strength, and durability, leading to its rising usage in the construction industry.

Cameroon steel industry is expected to register 6.3% CAGR from 2024 to 2032, due to the nation's robust infrastructure initiatives and economic diversification endeavors.

Kankan Iron and Steel, Lake Group, LES ACIERIES DU CAMEROUN SARL, Metafrique Group, METALCO, Nippon Steel Corporation, Sotrafer SARL, Trimble Inc., Yaound