$580+ Billion Flat Steel Market by Process, Type, End-Use Sector and Region - Global Forecast to 2024
Feb 21, 2020, 16:45 ET
DUBLIN, Feb. 21, 2020 /PRNewswire/ -- The "Flat Steel Market by Process (Basic Oxygen Furnace, Electric Arc Furnace), Type (Sheets & Strips, Plates), End-Use Sector (Building & Infrastructure, Mechanical Equipment, Automotive & Other Transport), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The flat steel market is estimated to be USD 434.8 billion in 2019 and is projected to reach USD 580.2 billion by 2024, at a CAGR of 5.9% from 2019 to 2024.
The increasing urban population and increasing industrialization and infrastructure investment in emerging markets are major factors responsible for the growth of the flat steel market.
The building & infrastructure segment is expected to hold the largest share of the flat steel market during the forecast period
The building & infrastructure segment accounted for the largest share of the flat steel market in 2018. Flat steel offers design flexibility, strength, and durability and is hence, used in the construction of buildings, bridges, factories, and other engineering structures. It is also used for the development of infrastructure in the energy sector. Oil, gas, and nuclear energy plants use tubular, wire, and long carbon steel products. Solar, wind, and hydro energy plants demand high-strength steel plates, electrical steels, and flat steel sheets for the construction of structures.
The electric arc furnace segment is expected to grow at the highest CAGR during the forecast period
The electric arc furnace is used to manufacture products using scrap steel. The process is less vulnerable to the price fluctuations of iron ore and coking coal. The growth of this segment can be attributed to the energy-efficient processing, cost-effectiveness compared to the basic oxygen furnace process, and the difference in the capital required.
The sheets & strips segment is expected to lead the flat steel market during the forecast period
Based on type, the sheets & strips segment is estimated to account for the largest share of the flat steel market in 2019. Flat steel sheets & strips are used in the manufacturing of automobiles, home appliances, housing materials, and beverage cans, among others. Increasing demand from the home appliances and electrical appliances sectors is the major contributor to the growth of the sheets & strips segment.
Asia Pacific is projected to grow at the highest CAGR of the flat steel market during the forecast period
The Asia Pacific flat steel market has been studied for China, Japan, India, South Korea, Taiwan, Australia, and the Rest of Asia Pacific. The Asia Pacific region is a lucrative market for flat steel, owing to industrial development and improving economic conditions. Product innovations, new infrastructure projects, and increasing industrialization have generated demand for flat steel from the building & construction end-use sector in this region. Flat steel manufacturers in North America and Europe are expanding their business in the Asia Pacific region, and there is a significant knowledge transfer taking place between developed and emerging countries through active engagements in different forums.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Flat Steel Market
4.2 Flat Steel Market, By Type
4.3 Flat Steel Market, By Process
4.4 Flat Steel Market, By End-Use Sector
4.5 Flat Steel Market By End-Use Sector and Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Urban Population
5.2.1.2 Increasing Industrialization and Infrastructure Investment in Emerging Markets
5.2.2 Restraints
5.2.2.1 Volatile Price of Raw Materials
5.2.3 Opportunities
5.2.3.1 High Recyclability of Steel Scrap
5.2.3.2 Relaxed Credit Policy in Emerging Economies
5.2.4 Challenges
5.2.4.1 Eliminating Excess Capacity
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6 Flat Steel Market, By Process
6.1 Introduction
6.2 Basic Oxygen Furnace
6.2.1 High Production Rate, Low Nitrogen Content, and Low Labor Requirement Expected to Drive Demand for Basic Oxygen Furnace
6.3 Electric Arc Furnace
6.3.1 Lower Capital Requirement Compared to Basic Oxygen Furnace Will Fuel the Market for Electric ARC Furnace
7 Flat Steel Market, By Type
7.1 Introduction
7.2 Sheets & Strips
7.2.1 Increasing Demand From Home Appliance and Electrical Appliance Sectors Will Drive the Market for Flat Steel Sheets & Strips
7.3 Plates
7.3.1 Increasing Infrastructure Projects in Emerging Economies Projected to Trigger Market Growth for Flat Steel Plates
8 Flat Steel Market, By End-Use Sector
8.1 Introduction
8.2 Building & Infrastructure
8.2.1 Increase in Demand for Flat Steel From Real Estate Sector Expected to Drive the Market
8.3 Mechanical Equipment
8.3.1 Rapid Industrialization has Led to an Increase in the Consumption of Flat Steel for Manufacturing Mechanical Equipment
8.4 Automotive & Other Transport
8.4.1 Increase in Demand for High-Strength and Lightweight Steel in Automobiles is Projected to Drive the Market
8.5 Others
8.5.1 Increasing Consumption of Flat Steel in Other End Uses is Expected to Drive the Market
9 Regional Analysis
9.1 Introduction
9.2 Asia Pacific
9.3 Europe
9.4 North America
9.5 Middle East & Africa
9.6 South America
10 Competitive Landscape
10.1 Introduction
10.1.1 Visionary Leaders
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
10.2 Strength of Product Portfolio
10.3 Business Strategy Excellence
10.4 Share of Key Players in the Flat Steel Market
11 Company Profiles
11.1 Arcelormittal
11.2 United States Steel Corporation
11.3 Nippon Steel & Sumitomo Metal Corporation
11.4 Tata Steel
11.5 POSCO
11.6 China Baowu Steel Group Corporation Limited
11.7 Shagang Group
11.8 Shougang Group Co. Ltd.
11.9 Ansteel Group Corporation Limited
11.10 SSAB AB
11.11 JFE Steel Corporation
11.12 Bluescope Steel Limited
11.13 HBIS Group
11.14 Thyssenkrupp AG
11.15 Voestalpine Group
11.16 Steel Authority of India Limited
11.17 Other Key Market Players
11.17.1 Hebei Puyong Steel Group
11.17.2 Nucor Corporation
11.17.3 China Steel Corporation
11.17.4 Metinvest Holding LLC
11.17.5 Severstal JSC
11.17.6 Jsw Steel
11.17.7 Novolipetsk Steel (NLMK)
11.17.8 Gerdau S.A.
11.17.9 Citic
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