Flat Steel Market trends growth - overview, revenue, global outlook, industry demand, key manufacturers and outlook 2027
Flat steel includes sheet, coils or other
flat-rolled steel product. Market Research Future (MRFR) has published a
research report about the global flat steel market that anticipates an increase
in the market with 6% CAGR (Compound Annual Growth Rate) for this market
between 2014 and 2022. Analyzing the market structure, this report offers
insights into factors affecting the market growth. Providing the historical and
forecast revenue, it evaluates market size. Profiling the key players in the
market, this report covers and observes their competitive developments that
include joint ventures, mergers and acquisitions, new product developments,
research and developments (R & D), and strategic alliances.
The key factors driving the growth of this market include
the growth of construction & infrastructure sector and the gsrowing need
for lightweight automobiles on a global level. However, the volatile the prices
of raw materials are likely to pose as a hindrance to the growth of this
market. The global flat steel market has been segmented on the basis of end
users, product types, and the region.
On the basis of end-users, this market has been segmented
into automobiles, construction & infrastructure, transport, and others. In
developed countries, flat steel products are always in demand in the automobile
sector. Due to the design flexibility, high strength, and increased durability,
flat steel is used in the building & infrastructure sector. It also reduces
the maintenance costs. In the energy sector, flat steel is used for building
infrastructure. By the product types, the market has been segmented into a
coated sheet; cold rolled sheet, hot rolled sheet, and plates. Flat steel
products like coated steel products, cold-rolled coil, heavy plate, hot-rolled
coil, slabs, and tinplate are used in construction.
The regional segmentation of the global flat steel market
has segmented the market into regional markets namely North America, Europe,
Asia Pacific, and the rest of the world (RoW). Asia Pacific region is the
biggest market for flat steel, followed by Europe. In countries like China,
India, and Japan, the construction & infrastructure sectors are growing
rapidly, thus creating a strong market for flat steel. After these three
countries, South Korea is the biggest market in this region. During the
forecast period, this market is expected to grow at the highest rate.
In Europe and North America, many key players of this
market are based in. In North America, maximum industrialization is in the
United States of America (USA). In Europe, strong economies and market for flat
steel (due to the presence of key players in this region) include Austria,
Germany, France, Luxembourg, Sweden, and the United Kingdom (UK). The
automobile sector is growing in both regions. Therefore, the flat steel market
is steadily growing in these regions.
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Key Players
The key players in the global flat steel market include
ArcelorMittal (Luxembourg), Essar Steel (India), Hyundai Steel Co. (South
Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), POSCO (South
Korea), SSAB (Sweden), Tata Steel Ltd (India), ThyssenKrupp (Germany), United
Steel Corporation (USA), and Voestalpine (Austria).
Latest Industry News
·
Nippon Steel & Sumitomo Metal Corp is set
to increase local production of automotive flat steel products in Indonesia in
order to meet the growing demand from Southeast Asia’s largest auto market. 14
Aug 2018
·
The National Company Law Appellate Tribunal
(NCLAT) has ruled that in favor of Tata Steel Ltd and Vedanta Ltd with regards
to their bid for Bhushan Steel Ltd and Electrosteel Steels Ltd, respectively.
10 Aug
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