Market Research Future Published a Half-Cooked Research Report on Flat
Steel Market Research Report – Forecast to 2022
Market Overview:
Flat steel products refer to
semi-finished steel products such as sheets and plates. The global flat steel
market is expected to capture a modest CAGR of 6% over the forecast period of
2014-2022, asserts Market Research Future (MRFR) in an in-depth study. The
global flat steel market was valued at USD 380 Bn in 2015.
Flat steel products are of
immense importance to steelmakers since they are used in diverse applications
across various end-use industries. Application in automobiles, construction,
shipbuilding, industrial machinery, and domestic appliances are among the
primary uses of flat steel.
Booming construction industry
acts as a major drive behind the growth of the global flat steel market. Hot
rolled flat steel sheets are extensively used in the construction industry
since they can be used to form large-sized structures. Lower cost and
malleability make them more desirable for mass applications. Rebound in
constructional activities in the US and across Europe has initiated solid
growth within the global flat steel market.
The automotive industry too is a
key end user of the global flat steel market. Flat steel products such as hot
rolled coils & sheets find their application in wheel-disc in the
automotive segment. Typical applications of cold rolled steel sheets involve
automotive bodies since they can be painted better than hot rolled steel. Growth
in the consumer durable sector will also support demand for steel products.
Rise in infrastructural
activities across the globe, especially in the emerging economies is
responsible for shaping the growth of the global flat steel market.
Construction of highways, bridges, airports, ports, water transportation,
pre-fabricated buildings, and power projects purveyed by government funding for
the same induces high demand within the global flat steel market. Other factors
substantiating the growth of the market include robust growth in demand for
flat steel products used in the manufacturing industry.
On the other hand, the growth of
the global flat steel products market might be affected negatively by
fluctuations in the price of raw materials.
Competitive Landscape
·
POSCO
·
SSAB
·
Essar Steel
·
Nippon Steel & Sumitomo Metal Corporation
·
United Steel Corporation
·
ArcelorMittal
·
Hyundai Steel Co.
·
ThyssenKrupp
·
Voestalpine
·
Tata Steel Ltd
Market Segmentation
The global flat steel market has
been segmented based on end user and product type.
By end-user, the global flat
steel 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. Flat steel is
extensively used in the building & infrastructure sector due to advantages
associated with flat steel such as design flexibility, high strength, and
increased durability. It also reduces maintenance costs. In the energy sector,
flat steel is used for the development of infrastructure.
By product type, the global flat
steel market has been segmented into coated sheet, cold rolled sheet, hot
rolled sheet, and plates.
Regional Analysis
The key markets for flat steel
include Asia Pacific (APAC), Europe, North America, and the Rest of the World
(RoW).
The global flat steel market is
dominated by APAC. The booming construction industry and ongoing extensive
infrastructural activities taking place in the developing economies of the
region such as China, India, and Japan have created favorable growth
opportunities for the flat steel market. South Korea too is a significant
market in the region.
Europe is the second largest
market for flat steel driven by the existence of various key players in the
region. The steadily growing automotive industry is a key growth influencer of
the Europe flat steel market. Austria, Germany, France, Luxembourg, Sweden, and
the UK are the key contributors to the Europe market. However, some key players
are hiking the price of flat steel in the region which might affect the growth
of the market adversely.
North America market is driven by
similar factors as Europe and is expected to showcase substantial growth over the
forecast period. The reviving construction industry in the region is likely to
augur well for the growth of the market.
Browse key industry insights spread across 123 pages with data
tables and figures of the report “Steel Market: Information by Type (Flat
and Long), Product (Structural Steel, Prestressing Steel), Application
(Building & Construction, Automotive, Electrical Appliance), and Region
(Asia-Pacific, Europe, North America, Latin America, and the Middle East &
Africa)—Forecast till 2023” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/flat-steel-market-1885
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