Southeast Asia’s economic growth has led to an increase in construction projects, infrastructure development, and manufacturing activities, all of which require steel products. Our research indicates that the steel industry in Southeast Asia is expected to grow at a CAGR of 6.2% from 2021 to 2026. This presents a significant opportunity for our company to establish a foothold in the market and grow our business.

We plan to target construction companies, manufacturers, and infrastructure development firms in Southeast Asia. Our strategy involves developing relationships with key decision- makers in these companies and providing them with high-quality steel products at competitive prices. Our sales team will work closely with these companies to understand their specific needs and requirements and provide them with customized solutions.

Rising Steel Prices: ongoing since 2021, steel prices have been on the rise due to a number of factors, including increased demand and supply chain disruptions. This has had a ripple effect on the prices of steel raw materials, such as iron ore and coking coal.

Supply Chain Disruptions: The COVID-19 pandemic has caused significant disruptions to global supply chains, including those in the steel industry. This has led to shortages of raw materials and delays in production, as well as higher costs for companies operating in the sector.

Innovation in Materials Science: There is ongoing innovation in materials science that is driving the development of new steel alloys and composites with enhanced properties, such as strength, durability, and resistance to corrosion. This is expected to open up new markets and applications for steel in the years ahead.

Growth in Steel Scrap Recycling: The recycling of steel scrap is becoming increasingly important as a source of raw material for the steel industry. This is driven by a desire to reduce costs, improve sustainability, and minimize the environmental impact of steel production.