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Iron and Steel Smelting in China Industry Data and Analysis
Revenue for the Iron and Steel Smelting industry has fluctuated over the past five years, growing 5.6% in 2020 and declining 2.5% in 2021. Industry revenue is expected to increase at an annualized 0.4% over the five years through 2025, to $64.6 billion. Profit margins are expected to increase to 3.5% of industry revenue in 2025.Total domestic demand has declined since 2012, but total output has gradually increased, thereby worsening oversupply conditions. Furthermore, the prices of steel products have fluctuated over the five past years. In 2021 and 2022, there was a decrease in production.There are many small and medium-sized enterprises in the industry. However, in the issue of environmental protection, the fuel efficiency of small factories is low, small enterprises will be slowly eliminated with high costs. It is expected that by 2025, some industry enterprises that have completed the transformation will gain more market share. Industry concentration has declined.In the context of the dual carbon target, the industry will also develop towards green. Industry enterprises are working to develop more efficient production methods to reduce the emission of pollutants. In addition, the Government encourages industry enterprises to transition to intelligence. IoT, 5G, visualization, GIS and other related technologies will be introduced into the industry. Intelligent factories can help industry enterprises to obtain more added value of products to improve profit margins.Industry revenue is forecast to increase at an annualized 1.3% over the five years through 2030, to $68.8 billion. Despite China's continued urbanization and accompanying expansion of infrastructure projects, supply surplus problems persist. The number of enterprises operating in the industry will decline over the next five years due to consolidation and greater production efficiency.
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What's included in this industry analysis
IBISWorld's research coverage on the Iron and Steel Smelting industry in China includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Iron and Steel Smelting industry in China operates under the industry code 3210. The Iron and Steel Smelting industry in China includes firms that manufacture hot metal, pig iron, cast iron, and cast-iron pipes. Iron is extracted from iron ore in blast furnaces. Pig iron and scrap iron are refined, either in basic oxygen or electric arc furnaces, into crude steel. Besides iron ore, other materials like coke, refractory, and water are required in iron and steel smelting. Related terms covered in the Iron and Steel Smelting industry in China include pig iron, crude steel and blast furnace.
What's included in this industry?
Products and services covered in Iron and Steel Smelting industry in China include Crude steel, Cast iron pipes and Pig iron.
What companies are included in this industry?
Companies covered in the Iron and Steel Smelting industry in China include China Baowu Steel Group Corporation Limited, Ansteel Group Corporation Limited and Bohai Steel Group Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Iron and Steel Smelting industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Iron and Steel Smelting industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Iron and Steel Smelting industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Iron and Steel Smelting industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Iron and Steel Smelting industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Iron and Steel Smelting industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Iron and Steel Smelting industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Iron and Steel Smelting industry in China.
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Frequently Asked Questions
What is the market size of the Iron and Steel Smelting industry in China in 2026?
The market size of the Iron and Steel Smelting industry in China is $64.6bn in 2026.
How many businesses are there in the Iron and Steel Smelting industry in China in 2025?
There are 137 businesses in the Iron and Steel Smelting industry in China, which has declined at a CAGR of 1.3 % between 2020 and 2025.
How may import tariffs affect the Iron and Steel Smelting industry in China?
The Iron and Steel Smelting industry in China is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Iron and Steel Smelting industry in China?
The Iron and Steel Smelting industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Iron and Steel Smelting industry in China grown or declined over the past 5 years?
The market size of the Iron and Steel Smelting industry in China has been growing at a CAGR of 0.4 % between 2020 and 2025.
What is the forecast growth of the Iron and Steel Smelting industry in China over the next 5 years?
Over the next five years, the Iron and Steel Smelting industry in China is expected to grow.
What are the biggest companies in the Iron and Steel Smelting industry in China?
The biggest companies operating in the Iron and Steel Smelting industry in China are China Baowu Steel Group Corporation Limited, Ansteel Group Corporation Limited and Bohai Steel Group Co., Ltd.
What does the Iron and Steel Smelting industry in China include?
Crude steel and Cast iron pipes are part of the Iron and Steel Smelting industry in China.
Which companies have the highest market share in the Iron and Steel Smelting industry in China?
The company holding the most market share in the Iron and Steel Smelting industry in China is China Baowu Steel Group Corporation Limited.
How competitive is the Iron and Steel Smelting industry in China?
The level of competition is low and steady in the Iron and Steel Smelting industry in China.
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