CEMAC Steel Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The CEMAC steel market size was valued at USD 5.6 billion in 2023 and is set to grow at a CAGR of 4.9% from 2024 to 2032.

One of the most significant trends in the industry is the increasing focus on sustainable and eco-friendly steel production methods. As global and regional environmental concerns intensify, the steel industry is shifting towards greener technologies. These efforts aim to reduce carbon footprints and enhance energy efficiency. The World Steel Association has set an ambitious target for the global steel industry with a 30% reduction in CO2 emissions by 2030. Notably, CEMAC countries are playing an active role in this initiative.

At the same time, there is a growing demand for premium steel tailored to specific industrial needs. This demand surge is largely driven by the region's expanding infrastructure projects and a booming construction sector. The African Development Bank forecasts a 5% annual growth in infrastructure investments in Central Africa over the next decade, further fueling the need for high-quality steel.

The CEMAC steel market is segmented based on steel product, grade, thickness, end use, distribution channel, and region.

In terms of steel product, the structural steel segment, valued at approximately USD 2.6 billion in 2023, is projected to reach USD 4.1 billion by 2032. Structural steel is a cornerstone of the CEMAC steel industry, celebrated for its versatility, strength, and durability. As the CEMAC region accelerates urbanization, enhances transportation networks, and expands industrial facilities, the demand for structural steel has surged. The African Union of Architects notes a 15% annual increase in the use of structural steel for construction projects over the last five years. Its robust nature makes it the preferred choice for bridges, high-rises, and large industrial plants.

In terms of end use, the industrial construction segment, valued at USD 1.9 billion in 2023, is anticipated to reach USD 2.8 billion by 2032. The qualities of structural steel make it essential for various construction and infrastructure endeavors. As urbanization efforts intensify and transportation networks expand in the CEMAC region, the demand for structural steel continues to rise.

Cameroon led the CEMAC steel market with revenue of approximately USD 1.2 billion in 2023, boasting a CAGR of 6.3% from 2024 to 2032. The country's steel market growth is largely attributed to its ambitious infrastructure projects and efforts towards economic diversification. The Cameroonian Ministry of Public Works has earmarked over USD 1 billion for 2024 infrastructure projects, spanning roads, bridges, ports, and urban housing. This significant investment is a primary driver of the nation's steel demand. Moreover, the Cameroon Construction Industry Association highlights a 15% annual growth in the construction sector, bolstered by both public and private investments, further intensifying the steel demand.

Product Code: 10604

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2018 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factors affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
3.2 Impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Increasing regional infrastructural initiatives
  - 3.2.1.2 Increased urbanization
  - 3.2.1.3 Favorable governmental policies and practices
  - 3.2.1.4 Technological advancements
- 3.2.2 Industry pitfalls and challenges
  - 3.2.2.1 Prevalence of inadequate infrastructure
  - 3.2.2.2 Intense competition from cheaper alternatives
3.3 Technology and innovation landscape
3.4 Consumer buying behavior analysis
- 3.4.1 Demographic trends
- 3.4.2 Factors affecting buying decision
- 3.4.3 Consumer product adoption
- 3.4.4 Preferred distribution channel
3.5 Growth potential analysis
3.6 Regulatory landscape
3.7 Pricing analysis
3.8 Porter's analysis
3.9 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Steel Product, 2021 - 2032, (USD Billion) (Thousand Tons)

5.1 Key trends
5.2 Steel Rebar
- 5.2.1 CRS (Corrosion Resistant TMT Bars)
- 5.2.2 Earthquake Resistant TMT Bars
- 5.2.3 Ribbed TMT Bars
- 5.2.4 Micro-alloyed TMT Bars
- 5.2.5 Low-relaxation TMT Bars
- 5.2.6 Dual-grade TMT Bar
5.3 Structural Steel
- 5.3.1 Heavy Structural Steel
  - 5.3.1.1 Angle (L Shaped)
  - 5.3.1.2 Bearing Pile (H Shaped)
  - 5.3.1.3 Channel (C Shaped)
  - 5.3.1.4 I Beam (I Shaped)
  - 5.3.1.5 Tee (T Shaped)
  - 5.3.1.6 Pipe
  - 5.3.1.7 Hollow Steel Section
    - 5.3.1.7.1 Square Hollow Section
    - 5.3.1.7.2 Rectangular Hollow Section
    - 5.3.1.7.3 Circular Hollow Section
- 5.3.2 Light Structural Steel
  - 5.3.2.1 Angle (L Shaped)
  - 5.3.2.2 Bearing Pile (H Shaped)
  - 5.3.2.3 Channel (C Shaped)
  - 5.3.2.4 I Beam (I Shaped)
  - 5.3.2.5 Tee (T Shaped)
  - 5.3.2.6 Pipe
  - 5.3.2.7 Hollow Steel Section
    - 5.3.2.7.1 Square Hollow Section
    - 5.3.2.7.2 Rectangular Hollow Section
    - 5.3.2.7.3 Circular Hollow Section
5.4 Others

Chapter 6 Market Estimates and Forecast, By Grade, 2021 - 2032, (USD Billion) (Thousand Tons)

6.1 Key trends
6.2 Steel Rebar (TMT Bar)
- 6.2.1 Fe 415
- 6.2.2 Fe 500
- 6.2.3 Fe 550
- 6.2.4 Fe 600
6.3 Structural Steel
- 6.3.1 ASTM A36
- 6.3.2 ASTM A572
- 6.3.3 ASTM A992
- 6.3.4 ASTM A500
- 6.3.5 EN 10025
- 6.3.6 BS 4360
- 6.3.7 JIS G3101
- 6.3.8 DIN 17100
- 6.3.9 Others

Chapter 7 Market Estimates and Forecast, By Thickness, 2021 - 2032, (USD Billion) (Thousand Tons)

7.1 Key trends
7.2 Steel Rebar (TMT Bar)
7.3 8mm -12mm
7.4 12mm - 16mm
7.5 16mm - 25mm
7.6 25mm - 32mm
7.7 32mm - 50mm

Chapter 8 Market Estimates and Forecast, By End Use, 2021 - 2032, (USD Billion) (Thousand Tons)

8.1 Key trends
8.2 Residential Construction
8.3 Commercial Construction
- 8.3.1 Institutions
- 8.3.2 Offices
- 8.3.3 Health Building
- 8.3.4 Others
8.4 Industrial Construction
- 8.4.1 Building Construction
- 8.4.2 Industrial Structures
- 8.4.3 Marine Applications
- 8.4.4 Heavy Equipment
- 8.4.5 Automotive
- 8.4.6 Others
8.5 Infrastructure
- 8.5.1 Dam and Water Channels
- 8.5.2 Bridges and Roadways
- 8.5.3 Transportation Facilities
- 8.5.4 Others

Chapter 9 Market Estimates and Forecast, By Distribution Channel, 2021 - 2032, (USD Billion) (Thousand Tons)

9.1 Key trends
9.2 Direct
9.3 Indirect

Chapter 10 Market Estimates and Forecast, By Countries, 2021 - 2032, (USD Billion) (Thousand Tons)

10.1 Key trends
10.2 Cameroon
10.3 Central African Republic
10.4 Chad
10.5 Equatorial Guinea
10.6 Gabon
10.7 Republic of Congo

Chapter 11 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

11.1 African Foundries Limited
11.2 Bangui Metal Fabricators
11.3 Bimbo Steel Production
11.4 Good Time Steel
11.5 Kankan Iron and Steel
11.6 Lake Group
11.7 LES ACIERIES DU CAMEROUN SARL
11.8 Metafrique Group
11.9 METALCO
11.10 Nippon Steel Corporation
11.11 Sotrafer SARL
11.12 Trimble Inc.
11.13 Yaounde Steel Manufacturing
11.14 Zamil Steel
11.15 Zenith Steel Fabricators LTD.