Steel Flat

Jul 06, 2023

NEW YORK, Aug. 25, 2023 /PRNewswire/ -- The steel flat-rolled products market is forecast to increase by 309.07 million tons from 2022 to 2027, at a CAGR of 5.55%, according to the recent market study by Technavio. The growth of the market will be driven by Corrosion resistance and excellent mechanical properties, Upsurge in consumption of high-strength steel flat-rolled products, and Rising construction and infrastructure projects. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The free Sample Report

Steel Flat Rolled Products Market - Company Scope

Technavio has extensively analyzed 15 major companies, including Acerinox SA, Alliance Steel, ArcelorMittal SA, China BaoWu Steel Group Corp. Ltd., Danieli and C. Officine Meccaniche Spa, E United Group, Ezz Steel Co. S.A.E., HBIS Group Co. Ltd., JFE Holdings Inc., NIM Group, Nippon Steel Corp., Nucor Corp., Outokumpu Oyj, POSCO Holdings Inc., Reliance Steel and Aluminum Co., SSAB AB, Tata Steel Ltd., thyssenkrupp AG, United States Steel Corp., and voestalpine AG

Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of company inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and companies' product offerings.

The report also provides a qualitative and quantitative analysis of companies to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

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Steel Flat-Rolled Products Market - Segmentation Assessment

The market is segmented by product (Sheet and strips and Plates), end-user (Infrastructure and construction, Automobiles and transportation, Consumer goods, Machinery, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

The market share growth by the sheet and strips segment will be significant during the forecast period. Pickling is used in the production of flat-rolled steel products, especially sheet, and strip, mainly from hot-rolled strips. Cold rolling reduces the strip thickness to the required level. These products are widely used in military, pressure valves, automotive, electrical equipment, renewable energy, marine and offshore instruments, construction, and structural use. Additionally, they are essential in shipbuilding and marine applications, providing anti-corrosion properties. Hence, these factors are expected to drive segment growth during the forecast period.

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Steel Flat-Rolled Products Market - Market Dynamics

Key Driver

Corrosion resistance and excellent mechanical properties is a key factor driving market growth.

Major Trend

Increased penetration in industrial applications is a major trend in the market. The reliability, yield strength, and corrosion resistance of flat-rolled steel products contribute to their widespread use in industrial environments. They find wide applications in fields such as food and beverage, electrical engineering, chemical, petrochemical, mining and quarrying, and chemicals. In addition, flat-rolled steel products have outstanding strength, formability, and recyclability. Thus, such factors are expected to drive market growth during the forecast period.

Significant Challenge

Volatility in raw material prices is a significant challenge restricting market growth.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a free sample report!

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Steel Flat-Rolled Products Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.55%

Market growth 2023-2027

309.07 million tons

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.13

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 60%

Key countries

US, China, India, Japan, and Germany

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Acerinox SA, Alliance Steel, ArcelorMittal SA, China BaoWu Steel Group Corp. Ltd., Danieli and C. Officine Meccaniche Spa, E United Group, Ezz Steel Co. S.A.E., HBIS Group Co. Ltd., JFE Holdings Inc., NIM Group, Nippon Steel Corp., Nucor Corp., Outokumpu Oyj, POSCO Holdings Inc., Reliance Steel and Aluminum Co., SSAB AB, Tata Steel Ltd., thyssenkrupp AG, United States Steel Corp., and voestalpine AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End User

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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SOURCE Technavio