Allied Market Research

2024

Flat Steel Market

Flat Steel Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Sheet strips, Plates, Carbon steel, Alloy steel, Stainless steel, Tool steel) and by Industry Vertical (Chemical petrochemical, Oil gas, Energy power, Automotive, Food beverages, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Eswara Prasad
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Flat Steel Market Analysis :

Flat steel is available in the market in the form of rolls, sheets, plates, strips, and structural beams, which are extensively used in building & infrastructure, transportation, electrical appliances, construction, energy, industrial machinery, and packaging industries. Flat steel exhibits features such as anti-corrosion, ductility & reliability, versatility, and recyclability, which help improving environmental performance of buildings. Rapid industrialization and wide spread of applications of flat steel have significantly contributed toward the growth of the global flat steel market. However, raw material procurement risk and fluctuations in prices of other materials hinder the growth of the market. 

Presently, flat steel sheets and strips are used in construction of residential and commercial buildings, owing to properties such as weightlessness, enhanced safety, prolonged durability, and stability. Mergers, joint ventures, and acquisitions are the key strategies adopted by the giants operating in the global market to strengthen their foothold in the competitive market.

COVID 19 impact analysis

  • The global market for flat steel is severely impacted by the outbreak of the COVID-19 pandemic,  leading to decline in economy.
  • Owing to the lockdown implemented across various countries, national and international transport has been hampered. Moreover, the manufacturing sites have been shut down, , which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
  • In addition, dearth of manpower in steel manufacturing industries has restrained the market growth, globally. 

Top impacting factors: market scenario analysis, trends , drivers and impact analysis

The use of flat steel has allowed automobile manufacturers to reach the expected levels of power and protection of their vehicles at much lower cost. 

Flat steel exhibits features such as cryogenic rigidity, high thermal power, superior corrosion resistance, enhanced sensitivity, and improved strength & toughness. Owing to such properties, the adoption of flat steel is expected to increase significantly in the automotive sector, thereby boosting the growth of the global market.

However, volatility in prices of raw materials needed for the production of flat iron is anticipated to hamper the market growth. In addition, increase in demand for bio-based products is likely to hinder the growth of the market.

The for flat iron is projected to grow rapidly, due to availability of raw materials, human capital, and rapid technological development in regions such as Asia-Pacific, North America, and Europe. Latin America is witnessing high growth rate due to technological advancements.

Market participants

The major key players analyzed in the 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).

 

Key benefits of the report

  • This study presents the analytical depiction of the global flat steel market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global flat steel market.
  • The current market is quantitatively analyzed to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global flat steel market research report:

  • Which are the leading market players active in the global flat steel market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?

Flat Steel Market Report Highlights

Aspects Details
Flat Steel Market By Type
By Type
  • Sheet & strips
  • Plates
  • Carbon steel
  • Alloy steel
  • Stainless steel
  • Tool steel
Flat Steel Market By Industry Vertical
By Industry Vertical
  • Chemical & petrochemical
  • Oil & gas
  • Energy & power
  • Automotive
  • Food & beverages
  • Healthcare
  • Others
Flat Steel Market By Region
By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, rest of Europe)
  • Asia-Pacific  (China, Japan, India, rest of Asia-Pacific)
  • Latin America  (Brazil, Mexico, rest of LATAM)
  • the Middle East 
  • Africa 
Key Market Players
Key Market Players

HBIS Group (China), ThyssenKrupp AG (Germany), ArcelorMittal (Luxembourg), Tata Steel (India), POSCO (South Korea), Voestalpine Group (Austria), Shougang Group Co., Ltd., (China), China Baowu Steel Group Corporation Limited (China), JFE Steel Corporation (Japan), SSAB AB (Sweden), Nippon Steel & Sumitomo Metal Corporation (Japan)

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Flat Steel Market

Global Opportunity Analysis and Industry Forecast, 2023-2032