Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Flat Steel Market Size is Expected to Grow from USD 435.29 Billion in 2023 to USD 692.83 Billion by 2033, at a CAGR of 4.76% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Flat Steel Market Size, Share, and COVID-19 Impact Analysis, By Product (Sheets & Coils and Plates), By End-User (Buildings & Construction, Railways & Highways, and Automotive & Aerospace), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The manufacturing and distribution of flat steel products, such as sheets, plates, strips, and foils, are part of the global flat steel market. These products have a wide range of industrial uses because of their great performance, flexibility, and durability. They are rolled from semi-finished materials such as slabs, billets, or ingots. The market for flat steel is expected to grow due to the increasing focus on infrastructure development and demand from sectors like manufacturing, automotive, and construction. The demand for high-quality steel for infrastructure projects and the shift towards lightweight, fuel-efficient vehicles in the automobile industry further fuels the demand for flat steel. As these industries expand globally, the market's growth will continue due to its adaptability and strength. Flat steel adoption is expected to grow due to increased steel acceptance in various applications, cost reduction, and technical developments. Rapid infrastructure construction in developing nations like India and China will further fuel the growth of the flat steel market. However, steel prices fluctuate due to supply and demand laws, manufacturing costs, and geopolitical events, affecting production costs and product prices, and potentially hindering market expansion.
The plates segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the product, the flat steel market is classified into sheets & coils and plates. Among these, the plates segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Steel plates are crucial in heavy industries like construction, shipbuilding, and energy, producing large structures like bridges and tanks. Their versatility and ability to withstand extreme conditions drive high demand. The growing need for infrastructure development and industrial expansion further strengthens the plates segment in the flat steel market.
The building & construction segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the end-user, the flat steel market is divided into buildings & construction, railways & highways, and automotive & aerospace. Among these, the building & construction segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR during the forecast period. Flat steel is a popular choice in structural applications like bridges, buildings, and infrastructure projects due to its high strength, durability, and versatility. With rapid urbanization, infrastructure investments, and sustainable building materials, demand for flat steel in the construction sector is increasing.
Asia Pacific is estimated to hold the largest share of the flat steel market over the forecast period.
Asia Pacific is estimated to hold the largest share of the flat steel market over the forecast period. The Asia Pacific region, driven by industrialization, key sector demand, and steel production capacity, is a significant global market contributor. China, Japan, and India are major contributors, while infrastructure projects and the automotive industry further fuel the demand for high-quality flat steel.
North America is predicted to have the fastest CAGR growth in the flat steel market over the forecast period. The North American flat steel market is expected to grow due to strong demand from key industries like automotive, construction, and manufacturing, as well as infrastructure development projects and advanced manufacturing technologies, and North America's focus on reshoring manufacturing activities.
Company Profiling
Major key players in the flat steel market include ArcelorMittal, POSCO, Jiangsu Shagang Group, ChinaSteel, Jianlong Group, ThyssenKrupp AG, JFE Steel Corporation, Albawardi Steel Industries, NIPPON STEEL CORPORATION, Tata Steel, Nucor Corporation, SABIC, Hyundai Steel, AGIS, Voestalpine AG, Severstal Russian Steel, NLMK, Essar Steel, ShaabanSteel, ATI, CITIC LIMITED, Baosteel Group, Hebei Puyang Iron and Steel Group, SSAB AB, SAIL, METINVEST HOLDING LLC, and Others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the flat steel market based on the below-mentioned segments:
Global Flat Steel Market, By Product
Global Flat Steel Market, By End-User
Global Flat Steel Market, By Regional Analysis
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