Global Flat Steel Market: Snapshot
Rapid industrialization, increase in infrastructure investments, and increasing urban population are some of the key factors driving the global flat steel market, while on the other hand, volatile price of raw materials is restraining it from achieving its true potential. Among the most important end-use segments such as building and infrastructure, automotive, and mechanical equipment, the building and infrastructure sector continues to serve the maximum demand in the global flat steel market, owing to extensive use of flat steel in building construction, roads, railway tracks, factories, oil and gas and solar energy plants, bridges, and other engineering structures. Flat steel offers properties such as flexibility along with high strength and are durable, which in turn not only lowers the overcall cost of the constructed structure but also cuts down the maintenance cost in a long term.
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This report on the global flat steel market has been prepared to serve as a business tool for audiences such as the manufacturers of flat steel, distributors and suppliers of flat steel, end-use industries operating in the flat steel supply chain, environment support agencies, and research and consulting firms. The report provides projections on the future of the flat steel market until 2025, based on quantitative and qualitative assessment of the all major factors that may influence the demand in the coming years. In order to present a picture of the competitive landscape and the opportunities available for new players, the report contains profiles of a number of leading vendors operating in the global flat steel market, analyzing their recent strategic decisions and evaluating their shares in the overall market.
Global Flat Steel Market: Overview
Researchers have predicted a healthy growth for the global flat steel market. Driven by rapid industrialization in countries such as India, South Korea, and China, the global market for flat steel is forecast to report a positive CAGR between 2017 and 2025. For instance, with immense growth of the China construction sector on cards, the demand for flat-rolled products for extensive application in external walls, purlins, and cladding construction is expected to increase. This will help the market gain significant traction during the forecast period. Besides this, rising investments in infrastructure development and banning of iron-ore in countries such as India are bolstering opportunities for the flat steel market.
Construction, defense, packaging, infrastructure and transport, consumer goods, and automobile are the most crucial end users of flat steel. Trends affecting these industries thus have a considerable influence on the global flat steel market as well. While construction industry is currently at the fore due to real estate boon witnessed across emerging nations, the demand arising from the infrastructure and transport market will boost the flat steel market as well.
The report provides a detailed assessment of the global flat steel market. Besides primary research, information is sourced from directories, financial records of leading enterprises, and industry journals. Information obtained from trusted industrial sources has also found place in the report, which is aimed at providing better perspective of the global flat steel market to its readers. The effect of Porter’s five forces on the global flat steel market is studied in detail as well.
Global Flat Steel Market: Trends and Opportunities
The global flat steel market is chiefly gaining from the increasing application in the construction industry. As the trend is less likely to subside in the next few years, the demand from the construction sector will continue catapulting the market to greater heights. Steel is one of the most important engineering materials, however producing it involves extremely labor and energy-intensive processes. While the recent technological advancements have helped industries to reduce dependence on energy, the process at large continues to remain intensive. This is a key concern for the market.
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Nevertheless, step taken towards curbing greenhouse gases emission will promote the use of sustainable materials. This in turn is projected give impetus to the global flat steel market. Therefore, the increase use of flat steel as a sustainable material, will help the market generate higher revenue during the forecast period.
Global Flat Steel Market: Regional Outlook
Regionally, Asia Pacific holds strong opportunities for the global flat steel market and is expected to account for a major share by the end of the forecast period. The flat steel market in Asia Pacific is primarily driven by the increasing demand from its rapidly growing construction and automobile sectors. As the development witnessed in these industries has been immense in countries such as India and China, the demand for flat steel is projected to remain higher in Asia Pacific through the forecast period. Also the Asia Pacific flat steel market is expected to gain from the economic development in the aforementioned economies and their rising investment in the construction and automotive sectors.
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Global Flat Steel Market: Vendor Landscape
The global flat steel market exhibits a highly competitive vendor landscape, however, with no companies holding clear dominance. In addition, due to the entry of new suppliers, shares held by leading companies is declining further. To counter such intense competition, a majority of the enterprises operating in the global flat steel market are focusing on technological advancements to cater to the dynamic consumer preferences.
Some of the key vendors in the market are Shanghai Baosteel Group, ArcelorMittal, United States Steel, NSSMC, POSCO, and JFE Steel.