Flat steel market is projected to reach USD 757.15 billion by 2026
The flat steel market is projected to reach USD 757.15 billion by 2026, at a CAGR of 6.7% from 2016 to 2026. Increasing urban population, rapid industrialization, and increase in infrastructure investments are driving the demand for flat steel products. However, volatile prices of raw materials is expected to restrict market growth.
Based on type, the plates segment of the flat steel market is estimated to grow at a high rate during the forecast period
Plates are widely used for heavy and industrial activities such as construction of buildings, bridges, dams, ships, offshore structures, hydro power stations, storage tanks, boilers, pressure vessels, and machinery. Growing investments in building & infrastructure in emerging economies is expected to propel market growth for the plate segment of the flat steel market. In addition, introduction of high strength steel plate grades has increased the use of steel plates in the automotive sector.
Asia-Pacific projected to grow at the highest CAGR during the forecast period
The Asia-Pacific flat steel market is anticipated to grow at the highest CAGR between 2016 and 2026. Growth of this market can be attributed to the increasing demand for flat steel from China and India. China, with growth in construction and automotive industries, is a major consumer of flat steel in the Asia-Pacific region. The India flat steel market is expected to grow at the highest CAGR during the forecast period.
Breakdown Of Profile Of Primary Participants:
- By Company Type: Tier 1 –59%, Tier 2 –18%, and Tier 3 –23%
- By Designation: C Level –45%, Director Level –23%, and Others –32%
- By Region: Asia-Pacific –53%,Europe–21%,North America –16%, and Middle East & Africa–10%
Major companies profiled in this report are Arcelor Mittal (Luxembourg), POSCO (South Korea), Voestalpine AG (Austria), Essar Steel (India), ThyssenKrupp (Germany), United States Steel Corporation (U.S.), Nippon Steel & Sumitomo Metal Corporation (Japan), Allegheny Technologies Inc. (U.S.), SSAB (Sweden), Hyundai Steel Co., Limited (South Korea), Tata Steel Limited (India), SAIL (India), and Essar Steel (India).
This report offers an overview of market trends, drivers, and challenges with respect to the flat steel market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and Latin America. The report categorizes the flat steel market on the basis of type, end user, and region. A detailed analysis of leading players, along with key growth strategies adopted by them is also covered in the report.
Reasons to buy the report
This report covers the following key aspects:
- Market size by 2026and its growth rate
- Key market trend
- Factors expected to drive the market
- Challenges that are expected to impact market growth
- Key players in this market
- Global report covers key regions such as North America, Europe, and Asia-Pacific, including major countries in these regions such as the U.S., China, India, Russia, and Germany.