Flat Steel - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Flat Steel market is accounted for $410.58 billion in 2018 and is expected to reach $787.17 billion by 2027 growing at a CAGR of 7.5% during the forecast period. Some of the key factors such as growing industrialization and infrastructure investment in emerging markets and increasing urban population are driving the market growth of the market. However, unpredictable worth of raw materials is the restraining factors for the growth of the market.
Flat steel is a type of steel which is rolled from steel slabs and is used in the manufacture of plates, sheets, structural beams and tiles. These goods are broadly served in building & infrastructure, transportation and electrical application industries owing to their exclusive properties. Flat steel products help get better the anti-corrosion properties of steel & enhance the excellence, ductility and consistency of the completed product.
By type, sheets segment is likely to have a huge demand in the forecast period. The growth is mainly attributed by its mounting applications in the home appliances, packaging, and electronics industries. They are broadly used in the built-up of door & window hoods, wall ornaments, dry batteries, steel drums, steel furniture, downspouts, automobiles, gutters, and roof ornaments, along with others.
On the basis of geography, Asia Pacific is estimated to have a lucrative growth due to China is one of the main clients of flat steel in the Asia Pacific region. The market at this time is witnessing development due to the rising demand for flat steel and a rise in the number of end-use sectors in rising economy such as India.
Some of the key players in Flat Steel Market include Arcelormittal, United States Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Tata Steel, China Baowu Steel Group Corporation Limited, Shagang Group, Shougang Group Co. Ltd, Ansteel Group Corporation Limited, JFE Steel Corporation, Bluescope Steel Limited, Thyssenkrupp AG, Voestalpine Group, Steel Authority of India Limited, Nucor Corporation and Hebei Puyong Steel Group.
• Electric Arc Furnace (EAF)
• Basic Oxygen Furnace (BOF)
• Blast Furnace (BF)
• Tool Steel
• Carbon Steel
• Alloy Steel
• Stainless Steel
• Mild steel
• Coated Steel
End Users Covered:
• Mechanical Equipment
• Building & Construction
• Gas Containers
• Automotive & Transportation
• Infrastructure & Energy
• Heavy Machinery
• Agricultural Equipment
• Consumer Goods & Appliances
• Oil & Gas
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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