Flat Steel Market Trends 2022, Global Industry Demand, Top Players, Industry Size, Future Growth by 2030
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 trends 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 growing 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 Trend 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 Trends 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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