Flat Steel Market

The Global Flat Steel Market is valued at USD 485.43 Billion in 2021 and is expected to reach USD 737.17 Billion by 2028 with a CAGR of 6.15% over the forecast period.

Global Flat Steel Market Global Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Factors such as rapid growth in the building & construction sector and urbanization and rising growth of the automotive industry are some of the major factors driving the growth of the Global Flat Steel Market.

Scope of Global Flat Steel Market Report:

Steel is an alloy, which is made up of ingots, billets, slabs, consisting of some percent carbon to improve steel strength & fracture resistance. Flat steel is used for consumer durable, construction, white goods, and automotive sector. Also, flat steel is used by many manufacturers for cable trays, light bars industries, truck trailers, railways, automotive industries. The demand for flat steel is increased in construction, building bridges, sports stadiums, offices, security fencing, flood defenses because of its properties like low maintenance cost, durability, long term life spam. These are available in the form of plates, strips, and sheets. There are different categories of flat steel are available in the steel market that is, carbon steel, alloy steel, stainless steel, and tool steel. In 1574, the production of steel by Cementation was described in the treatise Prague and actually used from 1601 in Nuremberg.

Covid-19 has shown a negative impact on the growth of the global flat steel market. As the Coronavirus is troubling may businesses and industries, including building and construction, automotive sector, and so on owing to the lockdown, social distancing regulations, labour shortage and raw material procurement complexity and others factors. It also highly impacted the automotive industry after the building and construction sector. Thus, the market growth of flat steel is also affected by Covid-19 pandemic.

Global Flat Steel Market Segmentation Analysis:

The global flat steel market is segmented based on product, material, application, and region & country level. Based on products, the global flat steel market is classified into sheets & strips and plates. Based on material, the global flat steel market is classified into carbon steel, alloy steel, stainless steel and tool steel. On basis of application, the global flat steel market is classified into building & infrastructure, automotive & other transport, mechanical equipment, and others.

By Product:

• Sheet & strips
• Plates

By Material:

• Carbon steel
• Alloy steel
• Stainless steel
• Tool steel

By Application:

• Building & infrastructure
• Automotive & other transport
• Mechanical equipment
• other

The regions covered in this global flat steel market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global flat steel is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Flat Steel Manufacturers

Some of the key players for global flat steel are:

• ArcelorMittal
• Nippon Steel & Sumitomo Metal Corporation
• Tata Steel
• POSCO
• China Baowu Steel Group Corporation Limited
• Shougang Group Co., Ltd.
• SSAB AB
• JFE Steel Corporation
• HBIS Group
• ThyssenKrupp AG
• Voestalpine Group
• others

News: Domestic Flat Steel Prices Unlikely to Go Up Anytime Soon: Tata Steel CEO

On August 16^th, 2021- A few months ago, the prices of flat steel were increased vastly, but from now same prices will be not increased with the same momentum for that reason, for sustaining their investment Tata Steel was on banking before interest, tax, depreciation, and amortization. T.V. Narendran, chief executive officer and managing director of Tata Steel said with the conservation of Aditi Divekar, in the year 2021-22 Tata company focused their European flat steel export business, which was self-sufficient with business operations, and discussed the domestic demand scenario amid an anticipated third wave of coronavirus. 

Rapid Growth in the Building and Construction Sector and Urbanization Drive the Growth of the Market

The vast application of flat steel seen over days in the building and construction sector increases the market value. Rapid industrialization and urbanization play a key role in market growth & flat steel is getting popular due to its features, such as durability, long life span, low maintenance cost and corrosion resistance. For that reason, they are widely used in the building and construction sectors. With increased urbanization, people are investing in changing lifestyles with increased income capita which is also supplementing the market growth. So numbers of companies are investing in the new technological advancement in their steel products which is also fostering the market growth. For instance; in November 2019, POSCO launched advanced steel products for the construction industry, to increase the standard of steel products for construction, named INNOVILT. The use of flat steel is helpful to the user with lower maintenance reduces the long-term maintenance cost of the building. So, rapid industrialization and urbanization & also technological advancements in the products are driving the growth of the market.

In addition, increased growth of automotive industry is also fuelling the growth of the global flat steel market. In the automotive industry, flat steel is used for various applications like manufacturing panels, automobile parts, gears, fuel tanks, engine blocks, doors, and breaking systems. Advanced high-strength steel is light in weight, that’s why adoption of high-strength steel is increased in the automotive sector. For instance; according to Joint Plant Committee; by using flat steel in an automotive vehicle about 20-25% of vehicle weight will be reduced as compared to other steel. Additionally, the use of flat steel in the electrical vehicle reduces the vehicle emission life cycle by 70%.

However, the high cost of blast furnace production and high investment cost may hinder the growth of the global flat steel market. Despite that, growth of population, high investment, economic growth, infrastructure, development, and rise in tourism may offer more opportunities for the further growth of the global flat steel market.

Global Flat Steel Market Regional Analysis:

Geographically, North America is expected to account for the largest share in the global flat steel market. U.S. and Canada are investing in the growing construction industry. For instance; in North America, according to the National Bureau of Statistics, about 35-40 % of the region applies flat steel market in the construction and building sector. e In addition, a large number of automotive manufacturers are present in this region, that’s why there is a high demand for flat steel is for commercial vehicle manufacturing, which is also fueling the growth of the market.

Europe is expected to witness a significant growth in the global flat steel market owing to the rapid industrialization & developing economics. Also, in Europe, the market for flat steel is driven by the construction, automotive, transportation, machinery industry in this region. Germany and the U.K. are driving countries of the flat steel market in Europe. For instance; According to World Steel Association; German manufacturers export flat steel product volume about 13.1 million metrics which was 50 % more than total European region steel exports.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2028
Market Size in 2021:	USD 485.43 Billion
Base year considered	2020
Forecast Period CAGR %:	6.15%
Market Size Expected in 2028:	USD 737.17 Billion
Tables, Charts & Figures:	175
Pages	200
Flat Steel Manufacturers	ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Tata Steel, POSCO, China Baowu Steel Group Corporation Limited, Shougang Group Co., Ltd., SSAB AB, JFE Steel Corporation, HBIS Group, ThyssenKrupp AG, Voestalpine Group, others
Segments Covered	By Product, By Material, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits of Global Flat Steel Industry Report:

• Global Flat Steel Industry report covers in-depth historical and forecasts analysis.
• Global Flat Steel Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global Flat Steel Industry report helps to identify opportunities in the marketplace.
• Global Flat Steel Industry report covers an extensive analysis of emerging trends and competitive landscape.

On Special Requirement Flat Steel Market Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA