Flat Steel Market Share | Global Industry Analysis, Size, Growth, Trends and Forecast, 2022 - 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 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 Share 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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