Africa Steel Market Report and Forecast 2026-2032

Africa Steel Market Insights & Analysis

The Africa Steel Market reached a value of nearly USD 41.21 million tons in 2025. The market is assessed to grow at a CAGR of around 4.06%, during the forecast period of 2026-2032 to attain a value of around USD 52.32 million tons in 2032. The industry is likely to grow steadily over the following years due to the region's developing industrialization, infrastructure, and building activity.

The Africa Steel Market is growing, owing to the rising demand for steel in varied industries, such as equipment, energy, automotive, and construction. Likely, enormous infrastructure projects, including the construction of Kenya's LAPSSET corridor, Nigeria's railway expansion, and Egypt's New Administrative Capital, are consuming a lot of steel. Also, domestic production and demand are being further augmented by advantageous government initiatives, such as the African Continental Free Trade Area (AfCFTA), which are refining regional supply chains & simplifying trade laws.

Africa Steel Market FY32

• Study Period: 2020- 2032


• Base Year: 2024


• CAGR(2026-2032): 4.06%


• Market Value 2032: USD 52.32 Million tons


• Fastest Growing Market: Egypt


• Major Players: African Industries Group, Egyptian Steel Group, Nippon Steel Corporation, POSCO Co., Ltd., Acerinox S.A., Outokumpu Oyj, El Marakby Steel, Suez Steel Company, The Libyan Iron & Steel Company, and Others. 

Moreover, Africa's increasing prominence in industrial production & renewable energy is another significant economic driver that raises demand for stainless & alloy steel in several applications.  Additionally, nations like South Africa & Egypt are escalating their capacity & advancing their production due to smart partnerships with global steel giants & continuous foreign direct investments (FDIs), hence enhancing the Africa Steel Market share.

Furthermore, future anticipation indicates that the Africa Steel Market would thrive due to urbanization, a youthful workforce, and increasing demand for reasonably priced housing & transportation. Also, sustainability objectives & technical advancements in steel production, together, are possibly going to be fundamental in determining the growth of the market in the future years.

Africa Steel Market Upgrades & Recent Developments

2024:

• African Industries Group extended its steel rolling mill in Nigeria to improve production capacity for construction-grade steel.
• Egyptian Steel Group introduced its eco-friendly billet production unit, focused on decreasing carbon emissions & improving sustainable manufacturing.

2025:

• POSCO Co., Ltd. declared a joint venture with a local partner in South Africa to launch a cold-rolled steel plant targeting the automotive sector.
• Acerinox S.A. signed a strategic agreement with El Marakby Steel to supply high-grade stainless steel to North African industries.

Africa Steel Market Dynamics

Driver: Upgrade in Infrastructure Across Africa to Instigate Industry Growth

Africa is observing substantial investments in public infrastructure, such as commercial complexes, transportation networks, and urban housing. This expansion surge is hastening the demand for structural steel, specifically in nations like Egypt, Nigeria, and Kenya.

Challenge: Availability of Limited Raw Material Processing Facilities to Impede Market

The region's capability to manufacture steel self-sufficiently & economically is hindered by its poor processing infrastructure & reliance on imports for final goods, even with ample iron ore reserves.

Opportunity: Inclination toward Green Steel & Sustainable Manufacturing

The worldwide thrust for decarbonization provides African steelmakers with an exceptional opportunity to accept green steel manufacturing practices. Also, leveraging renewable energy for electric arc furnaces could position Africa as an exporter of low-carbon steel in the future.

Trend – Incorporating Technology in Steel Plants

Digital technologies, like IoT-enabled production lines & predictive maintenance, are progressively being assimilated into African steel plants, enhancing efficacy, quality, and price management.

Africa Steel Market Segment-wise Analysis

By Type:

• Carbon Steel
• Alloy Steel
• Stainless Steel
• Tool Steel

The Carbon Steel segment is projected to grab the largest share of the Africa Steel Market. Its widespread usage in manufacturing, pipelines, and building is the aspect making it one of the leading steel types.  Owing to its unlimited strength, low cost, and effortlessness of production, it is a prevalent material for urban & rural infrastructure projects. Also, the continuously expanding construction sector relies heavily on structural beams and rebar, both of which are made of carbon steel.  Throughout the projection period, the demand for carbon steel is expected to continue to be strong due to the growth of public infrastructure & expanding industrial zones in nations like Ethiopia and Nigeria.

By Application:

• Construction
• Mechanical Engineering
• Automotive
• Metalware
• Domestic Appliances
• Agricultural
• Others

The Construction Sector captures the potential market share in the Africa Steel Market, compelled by urbanization & megaprojects. Steel is an indispensable component of highways, railroads, bridges, and tall buildings. Also, specifically in Egypt, Kenya, and South Africa, governments are making noteworthy investments in smart cities, reasonable housing, and transportation infrastructure throughout the region. Moreover, steel is still broadly utilized in construction due to its strength, flexibility, and affordability, which makes this industrial sector a key driver of market growth.

Country Projection of Africa Steel Industry

Africa Steel Market is geographically diversified, covering:

• Egypt
• South Africa
• Nigeria
• Kenya
• Tanzania
• Morocco
• Namibia
• Others

Egypt arises as a prominent country in the Africa Steel Market, accounting for a significant market share. Several leading steel manufacturers, such as Suez Steel Company and Egyptian Steel Group, are based in the country. Steel consumption has been augmented due to the New Suez Canal Zone's construction & smart city initiatives, including the New Administrative Capital. Moreover, Egypt's position as a regional center for steel producers is reinforced by its beneficial geographic location, enabling effective export logistics to Europe & the Middle East. Also, Egypt is estimated to maintain its leadership position in Africa's steel production & consumption with further investments & regulatory support.

What Does Our Africa Steel Market Research Study Entail?

• The Africa Steel Market Research Report highlights the forecast growth rate (CAGR) by anticipating market size and share.
• The market analysis puts light upon the primary industry trends, driving aspects, potential opportunities, growth challenges, and other major factors.
• The Africa Steel Market Research Report entails details about the most critical shifts in market share in the prominent regions.
• Considering the statistics & the developments by the primary market competitors, our report also strives to demonstrate the most sought-after strategies of the key players.