Global steel demand to go up by 2.16% from 2015 to 2020

THE Asia-Pacific region is projected to be the fastest growing within this period. The growth in the construction, consumer appliances, and automotive industries has played a huge part in providing the necessary momentum to the global steel processing industry, after the economic slowdown between 2007 and 2009.

Research and Markets also said that the fact that there are less substitutes of steel has made steel indispensable from customers' lives. The recovery of global economy would also boost the demand for the steel processing market.

Meanwhile, leading steel processing products and service providers are focusing on emerging countries that are estimated to show potential for industrial development in the near future.