The global steel industry continues to be a cornerstone of the world economy, providing essential materials for industries such as construction, automotive, energy, and manufacturing. As demand for steel remains strong in 2024, driven by infrastructure projects, industrial expansion, and technological advancements, the supply chain of steel suppliers has become increasingly diverse and competitive.

With a market valued at over $69 billion, the global steel industry plays a critical role in international trade, involving thousands of steel suppliers and millions of transactions across the world. In this article, we examine the top global steel suppliers in 2024, based on trade data from Tendata, to highlight the major players that are shaping the global steel supply landscape.

Global Steel Market Overview

The global steel suppliers market in 2024 is valued at over $69 billion, with key players from Russia, Indonesia, India, and Vietnam holding substantial market shares. The demand for steel continues to grow, driven by industrial expansion, infrastructure projects, and technological advancements in industries such as automotive, construction, energy, and manufacturing.

Steel is a critical component for large-scale projects, renewable energy systems, and manufacturing processes, making steel suppliers essential to meeting global needs. As the industry increasingly focuses on sustainability and green building practices, companies such as АКТЮБИНСКИЙ ЗАВОД ФЕРРОСПЛАВОВ, TUBOS ACERO MEXICO, and JSW STEEL LIMITED are at the forefront of producing steel in an environmentally responsible manner, ensuring the continued growth of the global steel supply market.

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Global Steel Suppliers in 2024

1. АКТЮБИНСКИЙ ЗАВОД ФЕРРОСПЛАВОВ ФИЛИАЛ АКЦИОНЕРНОГО ОБЩЕСТВА ТРАНСНАЦИОН (10.7%, $7.42 Billion)

АКТЮБИНСКИЙ ЗАВОД ФЕРРОСПЛАВОВ, a subsidiary of the Russian conglomerate Транснацион, holds a dominant position in the global steel market, with a 10.7% share valued at $7.42 billion. The company is known for its production of ferroalloys and steel products, which are essential for sectors like manufacturing and construction. As one of the leading steel suppliers globally, its substantial market share underscores its critical role in meeting the growing steel demand worldwide.

2. АКСУСКИЙ ЗАВОД ФЕРРОСПЛАВОВ ФИЛИАЛ АКЦИОНЕРНОГО ОБЩЕСТВА ТРАНСНАЦИОНАЛ (4.34%, $3.01 Billion)

Another key player under the Транснацион umbrella, АКСУСКИЙ ЗАВОД ФЕРРОСПЛАВОВ, accounts for 4.34% of the global steel market, valued at $3.01 billion. This supplier is renowned for producing ferroalloys and steel products used in a range of industries, including construction and automotive. Its ability to provide high-quality steel products continues to make it a preferred choice among steel suppliers in the global market.

3. TUBOS ACERO MEXICO (3.9%, $2.71 Billion)

TUBOS ACERO MEXICO, based in Mexico, holds a 3.9% market share in the global steel supply chain, valued at $2.71 billion. The company specializes in the production of steel pipes, tubes, and other products used in industries like oil and gas, construction, and infrastructure. With its strategic location and strong export network, Tubos Acero Mexico is one of the leading steel suppliers in the Americas and is expanding its presence globally.

4. PT INDONESIA RUIPU NICKEL AND CHROME ALLOY (3.12%, $2.16 Billion)

PT Indonesia Ruipu Nickel and Chrome Alloy, based in Indonesia, is a major supplier in the steel market, holding a 3.12% market share valued at $2.16 billion. Specializing in nickel and chrome alloys, the company supplies materials essential for the production of stainless steel. As demand for stainless steel grows globally, especially in the automotive, construction, and household appliance sectors, PT Indonesia Ruipu plays a key role as one of the leading steel suppliers in the international market.

5. PT DEXIN STEEL INDONESIA (3.02%, $2.09 Billion)

PT Dexin Steel Indonesia, with a 3.02% market share and valued at $2.09 billion, is a significant player in the Southeast Asian steel market. The company produces high-quality stainless steel products, which are used in industries such as automotive, energy, and consumer goods. As one of the largest steel producers in Indonesia, PT Dexin Steel continues to meet growing global demand and strengthen its position as a top steel supplier.

6. PT INDONESIA GUANG CHING NICKEL AND STAINLESS STEEL INDUSTRY (2.59%, $1.80 Billion)

PT Indonesia Guang Ching holds a 2.59% market share valued at $1.80 billion, making it one of the key steel suppliers in Indonesia. The company specializes in producing stainless steel, a material widely used in industries like automotive, electronics, and construction. With its robust production capacity and focus on high-quality stainless steel, PT Indonesia Guang Ching continues to serve the growing demand for stainless steel in the global market.

7. CÔNG TY TNHH GANG THÉP HƯNG NGHIỆP FORMOSA HÀ TĨNH (2.37%, $1.64 Billion)

CÔNG TY TNHH GANG THÉP HƯNG NGHIỆP FORMOSA HÀ TĨNH, a major steel producer from Vietnam, holds a 2.37% share of the global market, valued at $1.64 billion. The company is known for producing steel used in construction and infrastructure projects. As demand for steel continues to rise in Southeast Asia and beyond, Formosa Ha Tinh remains a key player among global steel suppliers, ensuring a steady supply of high-quality steel products.

8. PT INDONESIA TSINGSHAN STAINLESS STEEL (2.37%, $1.64 Billion)

Similar to Formosa Ha Tinh, PT Indonesia Tsingshan Stainless Steel also holds a 2.37% share of the global steel market, valued at $1.64 billion. The company is one of the world’s largest producers of stainless steel, focusing on products that cater to the automotive, construction, and energy sectors. As a leading steel supplier, PT Indonesia Tsingshan continues to expand its capacity and meet the growing global demand for stainless steel.

9. JSW STEEL LIMITED (1.99%, $1.38 Billion)

JSW Steel Limited, based in India, holds a 1.99% share of the global steel market, valued at $1.38 billion. The company produces a wide range of steel products, including flat and long steel, which are used in sectors such as automotive, construction, and appliances. Known for its focus on innovation and sustainability, JSW Steel is a vital player among steel suppliers in the global market, continuing to meet the evolving needs of industries worldwide.

10. CÔNG TY CỔ PHẦN THÉP HÒA PHÁT DUNG QUẤT (1.6%, $1.11 Billion)

CÔNG TY CỔ PHẦN THÉP HÒA PHÁT DUNG QUẤT, based in Vietnam, has a 1.6% share of the global steel market, valued at $1.11 billion. Specializing in construction-grade steel products, including hot-rolled coils and long products, the company plays a significant role in the steel supply chain in Southeast Asia. As the demand for steel continues to rise, Hoa Phat Dung Quat remains a key steel supplier in the region.

Conclusion

In 2024, the global steel market is driven by leading steel suppliers such as АКТЮБИНСКИЙ ЗАВОД ФЕРРОСПЛАВОВ, TUBOS ACERO MEXICO, JSW STEEL LIMITED, and PT DEXIN STEEL INDONESIA. These companies are shaping the future of the industry by meeting the growing demand for steel products used in construction, automotive, infrastructure, and manufacturing. With a continued focus on innovation, sustainability, and high-quality production, these steel suppliers will play a pivotal role in ensuring that the global steel market remains strong and resilient in the years ahead.