Market Research Report
Flat Steel Market by Process (Basic Oxygen Furnace, Electric Arc Furnace), Type (Sheets & Strips, Plates), End-Use Sector (Building & Infrastructure, Mechanical Equipment, Automotive & Other Transport), Region - Global Forecast to 2024
|Published by||MarketsandMarkets||Product code||925797|
|Published||Content info||166 Pages
Delivery time: 1-2 business days
|Flat Steel Market by Process (Basic Oxygen Furnace, Electric Arc Furnace), Type (Sheets & Strips, Plates), End-Use Sector (Building & Infrastructure, Mechanical Equipment, Automotive & Other Transport), Region - Global Forecast to 2024|
|Published: February 12, 2020||Content info: 166 Pages||
"The flat steel market is projected to grow at a CAGR of 5.9% between 2019 and 2024"
The flat steel market is estimated to be USD 434.8 billion in 2019 and is projected to reach USD 580.2 billion by 2024, at a CAGR of 5.9% from 2019 to 2024. The increasing urban population and increasing industrialization and infrastructure investment in emerging markets are major factors responsible for the growth of the flat steel market.
The building & infrastructure segment accounted for the largest share of the flat steel market in 2018. Flat steel offers design flexibility, strength, and durability and is hence, used in the construction of buildings, bridges, factories, and other engineering structures. It is also used for the development of infrastructure in the energy sector. Oil, gas, and nuclear energy plants use tubular, wire, and long carbon steel products. Solar, wind, and hydro energy plants demand high-strength steel plates, electrical steels, and flat steel sheets for the construction of structures.
The electric arc furnace is used to manufacture products using scrap steel. The process is less vulnerable to the price fluctuations of iron ore and coking coal. The growth of this segment can be attributed to the energy-efficient processing, cost-effectiveness compared to the basic oxygen furnace process, and the difference in the capital required.
Based on type, the sheets & strips segment is estimated to account for the largest share of the flat steel market in 2019. Flat steel sheets & strips are used in the manufacturing of automobiles, home appliances, housing materials, and beverage cans, among others. Increasing demand from the home appliances and electrical appliances sectors is the major contributor to the growth of the sheets & strips segment.
The Asia Pacific flat steel market has been studied for China, Japan, India, South Korea, Taiwan, Australia, and the Rest of Asia Pacific. The Asia Pacific region is a lucrative market for flat steel, owing to industrial development and improving economic conditions. Product innovations, new infrastructure projects, and increasing industrialization have generated demand for flat steel from the building & construction end-use sector in this region. Flat steel manufacturers in North America and Europe are expanding their business in the Asia Pacific region, and there is a significant knowledge transfer taking place between developed and emerging countries through active engagements in different forums.
Some of the leading manufacturers of flat steel profiled in this report include: ArcelorMittal (Luxembourg), Nippon Steel & Sumitomo Metal Corporation (Japan), Tata Steel (India), POSCO (South Korea), China Baowu Steel Group Corporation Limited (China), Shougang Group Co., Ltd., (China), SSAB AB (Sweden), JFE Steel Corporation (Japan), HBIS Group (China), ThyssenKrupp AG (Germany), and Voestalpine Group (Austria).
This report covers the flat steel market by process, type, end-use sector, and region. It aims at estimating the size and future growth potential of the market across various segments. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges in the flat steel market.
The report provides insights on the following:
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Winning Imperatives, Current Focus and Strategies, Threat from Competition, Right to Win)*
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Winning Imperatives, Current Focus and Strategies, Threat from Competition, Right to Win might not be captured in case of unlisted companies.