Flat steel includes sheet, coils or other flat-rolled steel product. Market Research Future (MRFR) has published a research report about the global flat steel market that anticipates an increase in the market with 6% CAGR (Compound Annual Growth Rate) for this market between 2014 and 2022. Analyzing the market structure, this report offers insights into factors affecting the market growth. Providing the historical and forecast revenue, it evaluates market size. Profiling the key players in the market, this report covers and observes their competitive developments that include joint ventures, mergers and acquisitions, new product developments, research and developments (R & D), and strategic alliances.
The key factors driving the growth of this market include the growth of construction & infrastructure sector and the gsrowing need for lightweight automobiles on a global level. However, the volatile the prices of raw materials are likely to pose as a hindrance to the growth of this market. The global flat steel market has been segmented on the basis of end users, product types, and the region.
On the basis of end-users, this market has been segmented into automobiles, construction & infrastructure, transport, and others. In developed countries, flat steel products are always in demand in the automobile sector. Due to the design flexibility, high strength, and increased durability, flat steel is used in the building & infrastructure sector. It also reduces the maintenance costs. In the energy sector, flat steel is used for building infrastructure. By the product types, the market has been segmented into a coated sheet; cold rolled sheet, hot rolled sheet, and plates. Flat steel products like coated steel products, cold-rolled coil, heavy plate, hot-rolled coil, slabs, and tinplate are used in construction.
The regional segmentation of the global flat steel market has segmented the market into regional markets namely North America, Europe, Asia Pacific, and the rest of the world (RoW). Asia Pacific region is the biggest market for flat steel, followed by Europe. In countries like China, India, and Japan, the construction & infrastructure sectors are growing rapidly, thus creating a strong market for flat steel. After these three countries, South Korea is the biggest market in this region. During the forecast period, this market is expected to grow at the highest rate.
In Europe and North America, many key players of this market are based in. In North America, maximum industrialization is in the United States of America (USA). In Europe, strong economies and market for flat steel (due to the presence of key players in this region) include Austria, Germany, France, Luxembourg, Sweden, and the United Kingdom (UK). The automobile sector is growing in both regions. Therefore, the flat steel market is steadily growing in these regions.
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The key players in the global flat steel market include ArcelorMittal (Luxembourg), Essar Steel (India), Hyundai Steel Co. (South Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), POSCO (South Korea), SSAB (Sweden), Tata Steel Ltd (India), ThyssenKrupp (Germany), United Steel Corporation (USA), and Voestalpine (Austria).
Latest Industry News
- Nippon Steel & Sumitomo Metal Corp is set to increase local production of automotive flat steel products in Indonesia in order to meet the growing demand from Southeast Asia’s largest auto market. 14 Aug 2018
- The National Company Law Appellate Tribunal (NCLAT) has ruled that in favor of Tata Steel Ltd and Vedanta Ltd with regards to their bid for Bhushan Steel Ltd and Electrosteel Steels Ltd, respectively. 10 Aug
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