Asean’s Appetite for Steel Rising

• 10 July 2016
• Local News
• 978 Views

ASEAN countries\’ steel market consumption is expected to exceed 90 million tons by 2019, a growth of 6 percent, according to a new study entitled ASEAN Countries Steel Market Outlook 2015-2019.

Steel consumption for infrastructure and construction is likely to exceed 47 million tons by 2019 with governments funding construction of road, rail, and airport infrastructure driving the growth. The mechanical machinery market is also likely to grow by 5 percent, exceeding 12 million tons by 2019.

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EN-US;mso-fareast-language:EN-US;mso-bidi-language:KHM\”>“Moreover, the growing middle-class population in emerging economies will lead to an increase in demand for residential properties. All these factors will drive steel demand during the forecast period,” says Chandrakumar Badala Jaganathan, lead research analyst at report publisher Technavio.