The Flat Steel Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company's Flat Steel Global Market Report 2024, the flat steel market has demonstrated consistent growth in recent years, progressing from $584.26 billion in 2024 to an anticipated $611.03 billion in 2024, reflecting a commendable compound annual growth rate (CAGR) of 4.6%. This upward trajectory in the historical period is ascribed to the robust expansion in construction and infrastructure, burgeoning automotive industry, escalating demand in the manufacturing and machinery sector, heightened shipbuilding activities, and the dynamic consumer goods manufacturing landscape.
Projections for the flat steel market suggest a robust trajectory in the coming years, poised to ascend to $743.01 billion by 2028, propelled by a notable CAGR of 5.0%. Anticipated drivers of growth in the forecast period encompass global urbanization trends, renewed vigor in infrastructure investments, groundbreaking innovations within the automotive industry, and the surge in renewable energy projects. Notable trends on the horizon include a growing emphasis on sustainable and recyclable flat steel, bespoke customization of flat steel products, an augmented role of digitalization in supply chain management, and the pervasive influence of Industry 4.0 in flat steel production.
Expansion of the construction industry is expected to propel the growth of the flat steel market in the coming future. The construction industry refers to the economic sector that is involved in the planning, designing, building, and maintenance of structures and infrastructure that includes a wide range of operations, such as residential, commercial, industrial, and civil engineering construction projects. Flat steel is widely utilized in the construction of structural components such as beams, columns, and girders, which offers strength and load-bearing characteristics that make it perfect for carrying the weight of buildings, bridges, and other structures. For instance, in 2022, according to the Bureau of Economic Analysis (BEA), a US-based government organization for industry statistics, the size of the United States construction industry increased from $1.916 trillion in the 2021 to $2.016 trillion in the 2022. Therefore, the expansion of the construction industry is driving the steel flat market.
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The flat steel market covered in this report is segmented –
1) By Product: Sheet And Strips, Plates
2) By Material: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel
3) By Process: Basic Oxygen Furnace, Electric Arc Furnace
4) By End User: Building And Infrastructure, Mechanical Equipment, Automotive And Other Transport, Other End Users
Eminent in the landscape of the flat steel market is the pivotal trend of product innovation, garnering significant attention from major industry players. Leading companies, such as ArcelorMittal S.A., a distinguished Luxembourg-based steel manufacturing entity, are fervently engaged in pioneering new products to fortify their market standing. Case in point, ArcelorMittal introduced Granite HDXtreme, an avant-garde pre-painted flat steel tailored for roofs and façades, boasting UV and corrosion protection designed for the harshest environmental conditions. This highly sustainable steel is free of chromates and heavy metals, ensuring 100% recyclability and a substantially smaller CO2 footprint compared to alternatives like aluminum. The strength of Granite HDXtreme emanates from its intricate 75m three-layer coating technique, with each layer playing a distinct yet indispensable role. The primer layer is paramount for corrosion protection, followed by a basecoat preserving steel durability and providing the final color. A varnish layer is meticulously applied to enhance texture, bolster lifespan, fortify surface robustness, and elevate UV weathering resistance. This exemplifies the industry's commitment to cutting-edge solutions that align with environmental consciousness and performance excellence.
The flat steel market report table of contents includes:
1. Executive Summary
2. Flat Steel Market Characteristics
3. Flat Steel Market Trends And Strategies
4. Flat Steel Market - Macro Economic Scenario
5. Global Flat Steel Market Size and Growth
.....
32. Global Flat Steel Market Competitive Benchmarking
33. Global Flat Steel Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Flat Steel Market
35. Flat Steel Market Future Outlook and Potential Analysis
36. Appendix
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