The global Flat Steel Market was worth USD 580.31 billion in 2021 and is expected to be worth USD 817.32 billion by 2030, increasing at a 5.8% CAGR from 2023 to 2030.
The global Flat Steel market is expected to grow at a sound pace in the times to follow. Flat steel finds the largest applications across several industries, including automobile and transportation, building and infrastructure, packaging, consumer goods, and defense. There will be a huge demand for flat steel in buildings and infrastructure globally. It is used in the construction of railway tracks, bridges, roads, factories, buildings, and other engineering structures. Additionally, the growing awareness regarding the advantages of flat steel such as high durability, strength, and design flexibility, and low construction and maintenance cost is boosting its adoption across various sectors. Each of these factors is anticipated to have a definite impact on the global Flat Steel market throughout the forecast period.
Furthermore, the rapid growth in infrastructural expansion in the Asia Pacific owing to rapid urbanization and industrialization is working in favor of the global flat steel market. The construction industry in countries such as India, China, and South Korea has recorded phenomenal growth in the past few years. Since flat-rolled products are broadly used in the construction of cladding, internal walls, and purlins, the development of the construction sector is translating into the higher uptake of flat steel. All these crucial aspects are significantly contributing to the growth of the global Flat Steel market. Additionally, with the increasing investments in the infrastructure sector and the growing strictness on iron-ore mining, many countries are anticipated to enlarge the growth of the market in the forecast period.
On the downside, instability in prices of raw materials required for the production of flat steel can hamper the growth of the market. Furthermore, the growing demand for bio-based products and changes in technologies are expected to hinder the growth of the flat steel market.
Covid-19 Impact on Flat Steel Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Flat Steel Market Segment Overview
Based on Type, the Sheets segment has the maximum share of the Flat Steel market and is projected to expand over the forecast period. This is because of the widespread use of sheets in refrigerators, steel furniture, doors, steel drums, and automobiles. In addition, the Plates segment is expected to expand at a significant rate due to the growth of the building & construction sector wherein flat steel plates are used.
According to End-Use, the Building & Construction and Automotive are the largest segments in the market. The Building & construction segment held a significant share of the market. Flat steel offers design flexibility, durability, and strength to the building. As well, the usage of flat steel in building and construction activities reduces the cost of construction. Additionally, flat steel not only decreases the overall weight but also offers fuel efficiency and strength to the vehicle. The rising the production of automobiles is expected to enhance the growth of the flat steel market during the forecast period.
Flat Steel Market, By Type
· Sheets
· Strips
· Plates
Flat Steel Market, By End-Use
· Mechanical Equipment
· Building & Construction
· Automotive
· Packaging
· Others
Flat Steel Market Regional Overview
Region-wise, Asia Pacific accounts for a major share in the Flat Steel market. This can be mainly attributed to the various factors such as availability of raw materials, growth of consumer and working population, and rapid technological developments in the region. Additionally, the growth of the building & construction industry in the region in terms of housing, corporate, and other projects and expansion of automotive industry in the region is likely to escalate the demand for flat steel in the region. Similarly, the flat steel market in North America is anticipated to increase at a rapid pace, due to the rising automotive industry in the region. The market in Latin America is projected to show high growth, due to the developing manufacturing industry in the region. Further, the market for flat steel in Middle East & Africa is estimated to enlarge at a substantial rate, owing to its large consumer base.
Flat Steel Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Flat Steel Market, Key Players
· Essar Steel
· Hyundai Steel Co., Ltd.
· Tata Steel
· United States Steel
· ArcelorMittal
· Nippon Steel & Sumitomo Metal Corporation
· POSCO
· China Baowu Steel Group Corporation Limited
· Shougang Group Co., Ltd.
· JFE Steel Corporation
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Flat Steel Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Sheets
- 5.2.2. Strips
- 5.2.3. Plates
- 5.3. Market Analysis, Insights and Forecast – By End-Use
- 5.3.1. Mechanical Equipment
- 5.3.2. Building & Construction
- 5.3.3. Automotive
- 5.3.4. Packaging
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Flat Steel Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Sheets
- 6.2.2. Strips
- 6.2.3. Plates
- 6.3. Market Analysis, Insights and Forecast – By End-Use
- 6.3.1. Mechanical Equipment
- 6.3.2. Building & Construction
- 6.3.3. Automotive
- 6.3.4. Packaging
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Flat Steel Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Sheets
- 7.2.2. Strips
- 7.2.3. Plates
- 7.3. Market Analysis, Insights and Forecast – By End-Use
- 7.3.1. Mechanical Equipment
- 7.3.2. Building & Construction
- 7.3.3. Automotive
- 7.3.4. Packaging
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Flat Steel Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Sheets
- 8.2.2. Strips
- 8.2.3. Plates
- 8.3. Market Analysis, Insights and Forecast – By End-Use
- 8.3.1. Mechanical Equipment
- 8.3.2. Building & Construction
- 8.3.3. Automotive
- 8.3.4. Packaging
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Flat Steel Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Sheets
- 9.2.2. Strips
- 9.2.3. Plates
- 9.3. Market Analysis, Insights and Forecast – By End-Use
- 9.3.1. Mechanical Equipment
- 9.3.2. Building & Construction
- 9.3.3. Automotive
- 9.3.4. Packaging
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2021
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Essar Steel
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Hyundai Steel Co., Ltd.
- 10.6. Tata Steel
- 10.7. United States Steel
- 10.8. ArcelorMittal
- 10.9. Nippon Steel & Sumitomo Metal Corporation
- 10.10. POSCO
- 10.11. China Baowu Steel Group Corporation Limited
- 10.12. Shougang Group Co., Ltd.
- 10.13. JFE Steel Corporation
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
