Flat Steel Global Market Report 2026

Flat steel is a type of processed metal crafted into flat sheets or strips, maintaining consistent thickness and width properties through a process involving melting and stretching under applied force. The production involves rolling a slab or billet through a series of rolling mills, exerting pressure to shape the steel into a flat form.

The primary flat steel products include sheets, strips, and plates. Sheet metal encompasses metals that can be fashioned into flat, varied-thickness pieces, while a metal strip is a narrow, thin stock with a thickness of 3/16 inches or less and a width of fewer than 24 inches. These are manufactured to specific thicknesses and/or widths, finding applications in various industries due to their strength, durability, and suitability for lightweight creations. Examples of applications include manufacturing car bodies and roofing materials in construction. The materials utilized in this process include carbon steel, alloy steel, stainless steel, and tool steel. The manufacturing processes involve basic oxygen furnaces and electric arc furnaces. End users span diverse industries such as building and infrastructure, mechanical equipment, automotive and other transport, and other sectors.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on flat steel have affected global supply chains, raising costs for carbon steel, alloy steel, stainless steel, and tool steel sheets and plates. Regions such as North America, Europe, and Asia-Pacific face the most impact across building, automotive, and mechanical equipment sectors. Positive outcomes include promoting local production, encouraging supplier diversification, and driving innovation in high-quality and cost-efficient flat steel products.

The flat steel market research report is one of a series of new reports from The Business Research Company that provides flat steel market statistics, including flat steel industry global market size, regional shares, competitors with a flat steel market share, detailed flat steel market segments, market trends and opportunities, and any further data you may need to thrive in the flat steel industry. This flat steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The flat steel market size has grown steadily in recent years. It will grow from $610.18 billion in 2025 to $638.98 billion in 2026 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to growth in construction and building infrastructure, rising demand from automotive manufacturing, expansion of mechanical equipment production, increasing use in industrial applications, advancements in flat steel rolling and processing technology.

The flat steel market size is expected to see strong growth in the next few years. It will grow to $783.84 billion in 2030 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to rising demand for galvanized and coated steel products, growth in automotive and transport sectors, adoption in smart infrastructure and high-rise construction, increasing use of alloy and tool steels, expansion of mechanical and industrial equipment manufacturing. Major trends in the forecast period include adoption of hot rolled and cold rolled sheets and strips, use of galvanized and coated flat steel products, integration of electric arc furnace and basic oxygen furnace processes, development of alloy, stainless, and tool steel variants, implementation of flat steel in automotive, infrastructure, and mechanical equipment.

The flat steel market is expected to experience growth due to rapid industrialization in the future. Industrialization is the transformative process that shifts an economy or society from agrarian and craft-based activities to a structure centered on industrial and manufacturing activities. Flat steel, known for its versatility, strength, and formability, is extensively used in various industrial applications. It serves as a foundational material, contributing to the structural integrity and efficiency of diverse applications crucial for the growth and development of industrial sectors. As of August 2023, industrial production in the euro area and the EU increased by 0.5% and 0.4%, respectively, compared to May 2023, according to Eurostat. Therefore, rapid industrialization is anticipated to drive the growth of the flat steel market.

Major companies in the flat steel market are strategically embracing partnerships and collaborations to enhance their market presence and gain a competitive advantage. These strategic alliances enable companies to leverage each other's strengths, mitigate risks, and enhance competitiveness in the market. For example, in June 2023, Primetals Technologies Limited, a UK-based engineering and plant construction company, entered into a partnership with Hydnum Steel, a Europe-based steel company, aiming to contribute to the green transition of the European flat steel market. The collaboration reflects the shared commitment of both companies to environmental responsibility, paving the way for sustainable steelmaking practices.

In November 2024, Cleveland Cliffs Inc., a US-based steel company, acquired Stelco Holdings Inc. for approximately $2.5 billion. Through this acquisition, Cleveland Cliffs aims to expand its flat steel production capacity in North America and strengthen its portfolio of hot-rolled, cold-rolled, and coated steel products for automotive, construction, and industrial applications. Stelco Holdings Inc. is a Canada-based integrated steel company that produces flat-rolled steel products, including hot-rolled, cold-rolled, and coated steel sheets.

Major companies operating in the flat steel market report are ArcelorMittal S.A., POSCO Holdings Inc, Ansteel Group Corporation Limited, Nippon Steel Corporation, HBIS Group, Jiangsu Shagang Group Company Limited, Nucor Corporation, ThyssenKrupp AG, JFE Steel Corporation, Tata Steel Limited, Angang Steel Company Limited, Shougang Group Co. Ltd., JSW Steel, United States Steel Corporation, Novolipetsk Steel, Voestalpine AG, Hyundai Steel Company, Evraz Group S.A., Gerdau S.A., Steel Authority of India Limited, SSAB AB, Severstal, Outokumpu, Allegheny Technologies, Ezz Steel, Acerinox, Essar Steel, Yieh Corp.

Asia-Pacific was the largest region in the flat steel market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flat steel market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the flat steel market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The flat steel market consists of sales of metallic coated steel, hot rolled coil (HRC), reversing mill plate, cold rolled coil (CRC), organic coated steel, and coil plate. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Flat Steel Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses flat steel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for flat steel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The flat steel market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product: Sheet And Strips; Plates
• 2) By Material: Carbon Steel; Alloy Steel; Stainless 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
• Subsegments:
• 1) By Sheets And Strips: Hot Rolled Sheets And Strips; Cold Rolled Sheets And Strips; Galvanized Sheets And Strips; Coated Sheets And Strips
• 2) By Plates: Hot Rolled Plates; Cold Rolled Plates; Alloy Plates; Stainless Steel Plates
• Companies Mentioned: ArcelorMittal S.A.; POSCO Holdings Inc; Ansteel Group Corporation Limited; Nippon Steel Corporation; HBIS Group; Jiangsu Shagang Group Company Limited; Nucor Corporation; ThyssenKrupp AG; JFE Steel Corporation; Tata Steel Limited; Angang Steel Company Limited; Shougang Group Co. Ltd.; JSW Steel; United States Steel Corporation; Novolipetsk Steel; Voestalpine AG; Hyundai Steel Company; Evraz Group S.A.; Gerdau S.A.; Steel Authority of India Limited; SSAB AB; Severstal; Outokumpu; Allegheny Technologies; Ezz Steel; Acerinox; Essar Steel; Yieh Corp.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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