Major markets of ArcelorMittal
In 2022, the United States and Brazil were the most significant markets of ArcelorMittal, with 8.83 and 8.71 billion U.S. dollars in sales, respectively. Specifically, the company generated a 2.25 billion net profit from its operations in Brazil. Brazil segment of ArcelorMittal operates flat, long, and tubular steel operations for Brazil and neighboring countries: Argentina, Costa Rica, Trinidad and Tobago, and Venezuela.
The biggest competitor of ArcelorMittal based on production volume was China Baowu Group. As of 2022, Baouwu Group produced roughly 132 million metric tons of crude steel, by far the largest output registered. Another important competitor, Nippon Steel Corporation, manufactured approximately 44.4 million tons of crude steel that year.