Flat Steel Market

Plastic Optic Fiber Market Report Thumbnail

Flat Steel Market by Product Type (Sheets, Plates, Strips, Foils, Bars, and Others), by Process (Basic Oxygen furnace, Electric Arc Furnace), by Material (Carbon Steel, Alloy Steel, Stainless Steel, and Tool Steel), by End-Use Industry (Building & Construction, Automotive & Transportation, Machinery, Electronics, Consumer Goods & Appliances, Oil & Gas, Energy, and Others) – Global Opportunity Analysis and Industry Forecast 2021-2030

  • Facebook
  • Linkedin
  • Whatsapp

Market Definition

The Flat Steel Market size was valued at USD 446.75 billion in 2020 and is predicted to reach USD 734.67 billion by 2030 with a CAGR of 5.1% from 2021-2030. 

Flat steel is rolled from a semi-furnished material such as slabs, and ingots or billets. It is extensively used in consumer durable, automotive as well as construction industry. It helps in improving the product shelf life, ensures trouble-free processing, maximizes yield, and improves the overall performance of the product. 

Also, it enhances the toughness, reliability, and quality of product apart from reducing the waste. Therefore, it is used in the manufacturing of light bars, truck trailers, cable trays, railways, grating manufacturers, automobile industry tippers, and other engineering products. In addition, it is also used in other applications including solar, thermal power, oil & gas, nuclear & wind energy, and hydro power plants.

Market Dynamics and Trends

The demand for flat steel is increasing due to its excessive use in the construction of building, bridges, offices, and sports stadium as it offers durability and low maintenance. Also, factors such as rapid urbanization, rising levels of disposable income of middle-class in emerging economies, greater investments towards infrastructure development, and growing industrialization, coupled with expanding global population are expected to propel the growth of the market during the forecast period.

However, fluctuations in the prices of iron, which is one of the important raw material of flat steel is a factor expected to restrain growth of the market to some extent. On the other hand, growing consumer awareness towards the adoption of flat steel to take various advantages such as flexible design, low maintenance, and high strength is expected to create lucrative growth opportunities for the flat steel market players in future.

 

Market Segmentations and Scope of the Study

The flat steel market size has been segmented based on product type, process, material, end-use industry, and geography. Based on the product type, the industry is classified into sheets, plates, strips, foils, bars, and others. The sheet segment is further classified into hot rolled sheets, electrical sheets, metallic coated sheet, and non-metallic coated sheet. The plates segment is further classified into rolled, normalized(N) and normalized rolled (NR). The strips segment is further classified into cold rolled, hot rolled, and hot dipped galvanized coil. Based on the process, the industry is bifurcated into basic oxygen furnace, and electric arc furnace. Based on material, the market is bifurcated into carbon steel, alloy steel, stainless steel, and tool steel. Based on end-use industry, the market is classified into building & construction, automotive & transportation, machinery, electronics, consumer goods & appliances, oil & gas, energy, and others. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

 

Geographical Analysis

Asia-Pacific holds the lion share of global flat steel market and is expected to continue dominating the market during the forecast period. This is attributed to factors such as growing economies, increasing per capita income of the people and accelerating construction activities in countries such as India, China, Thailand, and South Korea. Also, presence of major players such as POSCO, ThyssenKrupp AG, Tata Steel, Essar steel, SAIL, Met invest holding, and JSW, boosts the market growth in this region.

However, North America is expected to show a steady rise in the flat steel market due to the systematic efforts by government to make the adoption of lightweight steel materials more popular over conventional iron. Also, growing demand for commercial vehicles and passenger cars in the U.S. is boosting the demand for flat steel in this region. Countries in Europe and Latin America have also been witnessing significant growth due to the rising consumer base for flat steel.

 

Competitive Landscape

The market comprises of various players such as United States Steel Corporation, Clingan Steel, Inc., Essar Group ThyssenKrupp AG, Hascall Steel Co., Johnson Bros. Metal Forming Co., AK Steel Holding Corporation, Precision Brand Products, Inc., Steel Dynamics Inc, JSW Steel Ltd., Jindal Steel and Power Limited, Posco Co. Ltd.,Tata Steel Limited, Cleveland-Cliffs Inc., and Hyundai Steel Co. These manufacturers are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their product and increase their growth and geographical reach. 

For instance, in October 2021, Steel Dynamics Inc., has revealed its plans to acquire a metals solutions and distribution supply-chain management company named New Process Steel LP. Under the contract, Steel Dynamics Inc would acquire a share of 55% in New Process Steel LP and would also take all the business decisions related to steel purchasing and customer supply decisions. New Process Steel LP is Steel Dynamics' biggest single flat roll steel customer and has over 950 employees.

Also, in October 2021, Cleveland-Cliffs Inc. signed a contract of approximately USD 775 million with Ferrous Processing and Trading Company (FPT) to enter in the scrap metal business. The FPT is one of the largest processors and distributors of metal in the U.S. It registers for over 15% of the ferrous scrap market. Approximately three million tons of scrap metal is processed by the company every year, which is around half of the prime grade. Due to these collaborations and innovations done by various players, the market is expected to create rapid growth and enhance the overall performance of the product.

KEY BENEFITS:

  • The flat steel market report provides the quantitative analysis of the current market and estimations through 2021-2030 that assists in identifying the prevailing market opportunities to capitalize on.

  • The study comprises a deep dive analysis of the flat steel market trend including the current and future trends for depicting the prevalent investment pockets in the market.

  • The information related to key drivers, restraints and opportunities and their impact on the flat steel market is provided in the report.

  • The competitive analysis of the market players along with their market share in the flat steel market.

  • The SWOT analysis and Porters Five Forces model is elaborated in the study.

  • Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS:

By Product Type

  • Sheets

    • Hot Rolled Sheet

    • Electrical Sheet

    • Metallic Coated Sheet

    • Non-Metallic Coated Sheet

  • Plates

    • Rolled

    • Normalized(N)

    • Normalized Rolled (NR)

  • Strips

    • Cold Rolled

    • Hot Rolled

    • Hot dipped Galvanized Coil

  • Foils

  • Bars

  • Others

By Process

  • Basic Oxygen furnace

  • Electric Arc Furnace

By material

  • Carbon steel

  • Alloy steel

  • Stainless steel

  • Tool steel

By End-Use Industry

  • Building & Construction

  • Automotive & Transportation

  • Machinery

  • Electronics

  • Consumer Goods & Appliances

  • Oil & Gas

  • Energy

  • Others

By Geography

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • RoW

    • UAE

    • Saudi Arabia

    • South Africa

    • Brazil

    • Remaining Countries

KEY PLAYERS:

  • United States Steel Corporation

  • Clingan Steel, Inc.

  • Essar Group ThyssenKrupp AG

  • Hascall Steel Co.

  • Johnson Bros. Metal Forming Co.

  • AK Steel Holding Corporation

  • Precision Brand Products, Inc.

  • Steel Dynamics Inc

  • JSW Steel Ltd.

  • Jindal Steel and Power Limited

  • Posco Co. Ltd.

  • Tata Steel Limited

  • Cleveland-Cliffs Inc.

  • Hyundai Steel Co.

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Analysis Period

2020–2030

Base Year Considered

2020

Forecast Period

2021–2030

Market Size Estimation

Billion (USD)

Market Segmentation

By Product Type (Sheets, Plates, Strips, Foils, Bars, and Others), by Process (Basic Oxygen furnace, Electric Arc Furnace), by Material (Carbon Steel, Alloy Steel, Stainless Steel, and Tool Steel), by End-Use Industry (Building & Construction, Automotive & Transportation, Machinery, Electronics, Consumer Goods & Appliances, Oil & Gas, Energy, and Others)

Geographical Segmentation

North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Japan, South Korea, Australia, Rest of APAC), Rest of the World (UAE, Saudi Arabia, South Africa, Brazil, Remaining Countries)

Companies Profiled

United States Steel Corporation, Clingan Steel, Inc., Essar Group ThyssenKrupp AG, Hascall Steel Co., Johnson Bros. Metal Forming Co., AK Steel Holding Corporation, Precision Brand Products, Inc., Steel Dynamics Inc, JSW Steel Ltd., Jindal Steel and Power Limited, Posco Co. Ltd.,Tata Steel Limited, Cleveland-Cliffs Inc., and Hyundai Steel Co.

Bar chart Pie chart Pie chart

Download Free Sample

Please Enter Full Name

Please Enter Valid Email ID

Please enter Country Code and Phone No

Please enter message

Frequently Asked Questions

According to the report published by Next Move Strategy Consulting, the Flat Steel market business is expected to hit at $734.67 billion (USD) by 2030.

Asia-Pacific is expected to hold the highest market share in the global market. The region is expected to witness remarkable growth as it houses the major key players in the market.

United States Steel Corporation, Clingan Steel, Inc., Essar Group ThyssenKrupp AG, Hascall Steel Co., Johnson Bros. Metal Forming Co., AK Steel Holding Corporation, Precision Brand Products, Inc., Steel Dynamics Inc, JSW Steel Ltd., Jindal Steel and Power Limited, Posco Co. Ltd.,Tata Steel Limited, Cleveland-Cliffs Inc., and Hyundai Steel Co.

The global Flat Steel market share analysis is based on product type, process, material, end-use industry, and geography.

Currently (in 2020), the market value stands at USD 446.75 billion and it is anticipated to reach USD 734.67 billion by 2030.
popular
$4,975
$3,975
$6,975
$2,975

This website uses cookies to ensure you get the best experience on our website. Learn more