According to the latest report by IMARC Group, titled “Flat Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global flat steel market size reached US$ 444.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 613.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.6% during 2022-2027.
Market Overview:
Flat steel is a thin steel sheet, or plate, which is rolled from semi-finished rectangular billets, ingots, and slabs. It is widely utilized for manufacturing trailers, trucks, strips, cable trays and consumer durables. It is further used for improving design flexibility, durability, ductility, anti-corrosion properties, strength, quality, and overall shelf life of various products. Consequently, flat steel finds extensive applications in different industrial verticals, such as automotive, manufacturing, construction, and packaging.
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Market Trends:
The widespread adoption of flat steel in various commercial sectors due to its several advantageous properties, such as durability, strength, quality, flexibility and corrosion and the rising inclination of manufacturers toward energy-efficient, cost-effective, and eco-friendly commodities are primarily driving the flat steel market growth. In addition to this, the growing utilization of flat steel for producing panels, doors, engines, blocks, wheels, fuel tanks, and automobile structures is creating a positive outlook for the market. Other factors, such as the rising demand for advanced high-strength steel (AHSS) for improving fuel efficiency and the increasing infrastructural developments in various countries, are contributing to the market growth.
Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global flat steel market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
- Allegheny Technologies Incorporated
- Arcelormittal
- China Steel Corporation
- Hyundai Steel Co. Ltd
- JFE Steel Corporation
- Nippon Steel Corporation
- POSCO
- SSAB AB
- Tata Steel Limited
- thyssenkrupp AG
- United States Steel Corporation
- voestalpine Stahl GmbH
Market Segmentation:
The report has segmented the global flat steel market on the basis of product, material, application and region.
Based on Product:
- Sheet and Strips
- Plates
Based on Material:
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Tool Steel
Based on Application:
- Building and Infrastructure
- Automotive and Other Transport
- Mechanical Equipment
- Others
Based on Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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