The flat steel market is projected to reach USD 757.15 Billion by 2026, at a CAGR of 6.7% from 2016 to 2026. The key factor propelling the growth of the flat steel market is the increasing demand for flat steel from building & infrastructure, and automotive & other transport industries.
Major end users in the flat steel market are building & infrastructure, automotive & other transport, mechanical equipment, and others. Flat steel is used in the building & infrastructure sector as it offers design flexibility, strength, and durability. It not only lowers construction costs but also reduces long-term maintenance costs of buildings. In the automotive & transport industry, flat steel products not only lowers the overall weight of the vehicle but also provides optimum strength and fuel efficiency. Therefore, increase in infrastructural development, along with rise in automobile production is expected to propel the demand for flat steel.
Based on type, the flat steel market has been segmented into sheets & strips, and plates. The sheets & strips segment is estimated to account for the largest market share in 2016, in terms of value. Sheets & strips are extensively used in varied applications for manufacturing door & window hoods, wall ornaments, refrigerators, steel drums, steel furniture, dry batteries, automobiles, washing machines, gutters, downspouts, and roof ornaments, among others. The plates segment is projected to grow at the highest CAGR during the forecast period due to high growth in infrastructural development worldwide.
The flat steel market in the Asia-Pacific region is anticipated to grow at the highest CAGR between 2016 and 2026. This region has witnessed significant infrastructural development in recent years, which has led to the initiation of several housing projects. The region's construction industry is expected to grow at a significant rate of 7.1% from 2016 to 2026. In addition, high growth of the market in Asia-Pacific can be attributed to the increasing demand for flat steel to manufacture lightweight and fuel efficient vehicles.
- Allegheny Technologies
- Angang Steel Company Limited
- China Steel Corporation
- Essar Steel
- Gerdau S.A.
- Hadeed Saudi Iron & Steel Company
- Hebei Puyong Steel Group
- Hyundai Steel Co., Ltd
- Jfe Steel Corporation
- Jiangsu Shagang International Trade Co., Ltd.
- JSW Steel
- Metinvest Holding Llc
- Nippon Steel & Sumitomo Metal Corporation
- Novolipetsk Steel (NLMK)
- (10+ Others)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Flat Steel Market, by Type
8 Flat Steel Market, by End User
9 Regional Analysis
10 Competitive Landscape
11 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/t3wjzd/flat_steel_market
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SOURCE Research and Markets