The global flat steel market is forecast to grow at a CAGR of 5.7%, from USD 433.60 Billion in 2019 to USD 657.90 Billion in 2027.

New York, NY -- (SBWire) -- 02/08/2021 --Flat Steel Market

Flat steel is a semi-finished steel product in the form of sheets and plates, which are rolled from slabs and have a wide range of industrial applications. The global flat steel market is forecast to grow at a CAGR of 5.7%, from USD 433.60 Billion in 2019 to USD 657.90 Billion in 2027.

Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.

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Market Drivers

The rapid urbanisation, industrialization, and investments in infrastructure and construction are fuelling the growth of the global flat steel market. Flat steels have numerous applications in the construction industry as they are used in the construction of skyscrapers, official buildings, malls, sports stadiums, bridge decks, harbours, roofing, etc.  Due to its properties, such as durability, low maintenance, long life, high strength, and reusability, the demand for flat steel is increasing. The growing population and the rising capacity of middle-class families in emerging countries to afford housing facilities is expected to increase the demand for flat steel as it is used as a major raw material used in the process. Flat steel is also used to make several other products, such as door and window hoods, wall ornaments, washing machines, gutters, downspouts, and roof ornaments.

Regional Landscape

North America, due to its investments in the infrastructure construction sector, had a market value of USD 60.03 billion in 2019. It is expected to grow gradually in the forecasted period. Europe was the third-largest market with a total share of 12.6% in 2019 owing to the growth of construction, automotive, transportation, and machine industries in developed countries. Asia Pacific is the fastest-growing region in the global flat steel market due to the massive demand from the large population.

Further key findings from the report suggest

The demand for metal coated steel sheets and strips is increasing due to their ability to provide high aesthetic value, durability, and environment friendly nature.

Strengthening government standards for the use of certain metals and alloys in the United States and Europe to improve environmental health is expected to strengthen the growth of the flat steel market.

Increased product penetration in electrical appliances, equipment, construction, and transport due to its light and superior mechanical properties to promote market growth.

The growing demand for heavy-duty materials from the construction industry in Asia-Pacific countries, including India and South Korea, which offer superior construction efficiency and help minimize the impact on the environment, provide lucrative market expansion opportunities.

The steelmakers focus on improving their technological innovations and use the technology of electric arc furnaces, which provide advanced and energy-efficient solutions.

Competitive Terrain:

The global Flat Steel market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Flat Steel market are listed below:

United States Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Tata Steel, POSCO, China Baowu Steel Group Corporation Limited, Shagang Group, SSAB AB, Ansteel Group Corporation Limited, ThyssenKrupp AG, and ArcelorMittal, among others.

End-Use Outlook (Revenue, USD Billion; 2017-2027)

Construction

Mechanical

Automotive

Others

Process Outlook (Revenue, USD Billion; 2017-2027)

Basic Oxygen Furnace

Electric Arc Furnace

Product Outlook (Revenue, USD Billion; 2017-2027)

Sheets and Strips

Plates

Material Outlook (Revenue, USD Billion; 2017-2027)

Carbon Steel

Alloy Steel

Stainless Steel

Tool

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Radical Features of the Flat Steel Market Report:

Valuable insights into the Flat Steel market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Flat Steel industry

Table Of Contents:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Flat Steel Market Segmentation & Impact Analysis

Chapter 5. Flat Steel Market, By Type Insights & Trends

Chapter 6. Flat Steel Market, By Application Insights & Trends

Chapter 7. Flat Steel Market, By End Use Insights & Trends

Chapter 8. Flat Steel Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

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