Industry Overview :

The global iron and steel market was valued at USD 1,599.4 billion in 2022 and is projected to reach USD 1,928.6 billion by 2027, with a compound annual growth rate (CAGR) of 3.8% during the forecast period from 2022 to 2027,The steel industry experienced sharp growth in the early 1990s owing to private entrepreneurs’ investment in the sector. This industry is now flourishing, mainly relying on the investment of large conglomerates, diversifying products, and transforming production. As per the World Steel Association, Bangladesh manufactured 5.2 million metric tons of steel in 2022, and its net import of steel decreased to 2.2 million metric tons, implying that the country’s consumption of steel was roughly 7.4 million metric tons, According to The Business Standard, there is an anticipated increase in the rate of expansion of factory capacity, with projections indicating a rise to 13 million metric tons by the year 2025. Currently, the steel industry in Bangladesh is worth BDT 55,000 crore (USD 6.2 billion), as per The Business Standard with per capita steel consumption forecast to increase from 45 KG in 2022 to more than 100 KG by 2030. Production capacity is experiencing a sharp rise along with demand at an annual growth rate of 10%. In 2012 we have almost 400 mills across the country