Global Flat Steel Market Share 2024, Forecast To 2033
8 Mar, 2024
The flat steel market (5) demonstrated steady growth from $584.26 billion in 2023 to $611.03 billion in 2024, with a 4.6% CAGR, driven by construction, automotive, and machinery sectors. Anticipated growth projects a market size of $743.01 billion by 2028, with a 5.0% CAGR, fueled by global urbanization, infrastructure investments, and innovations in the automotive industry. Major trends include sustainability efforts, customization of products, digitalization in supply chain management, and Industry 4.0 influence.
Global Flat Steel Market Key Driver
The flat steel market is poised for growth driven by the expansion of the construction industry. With construction activities on the rise, particularly in the United States, there is a growing demand for flat steel in structural components such as beams and columns. Flat steel's strength and load-bearing characteristics make it an ideal choice for construction projects, thus driving the growth of the market.
Get A Free Sample Of The Global Flat Steel Market ReportGlobal Flat Steel Market Segments
The flat steel market covered in this report is segmented –
1) Product:Sheet And Strips, Plates
2) Material:Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel
3) Process:Basic Oxygen Furnace, Electric Arc Furnace
4) End User:Building And Infrastructure, Mechanical Equipment, Automotive And Other Transport, Other End Users
By Geography: The countries covered in the flat steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the flat steel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flat steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Flat Steel Industry Players
ArcelorMittal S.A.; POSCO Holdings Inc; Ansteel Group Corporation Limited; Nippon Steel Corporation; HBIS Group; Jiangsu Shagang Group Company Limited; Nucor Corporation; ThyssenKrupp AG; JFE Steel Corporation; Tata Steel Limited; Angang Steel Company Limited; Shougang Group Co. Ltd.; JSW Steel; United States Steel Corporation; Novolipetsk Steel; Voestalpine AG; Hyundai Steel Company; Evraz Group S.A.; Gerdau S.A.; Steel Authority of India Limited; SSAB AB; Severstal; Outokumpu; Allegheny Technologies; Ezz Steel; Metals USA Holdings; Acerinox; Essar Steel; Yieh Corp.
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Flat Steel Market Overview
Flat steel is a type of processed metal that is formed in flat sheets or strips with consistent thickness and width properties by melting and stretching under an applied force. It is produced by rolling a slab or billet through a series of rolling mills, compressing and shaping the steel into a flat form.