Report Code: A13154 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Flat Steel Products Market
Request Now !Market Scope and Structure Analysis
Flat steel products are usually used in the form of semi-furnished products such as slabs and ingots. These are one of the main construction materials widely used by industries such as railways, grating manufacturing, and automobile manufacturing. Flat steel products help to increase reliability, toughness, and quality to products by enhancing performance with good shelf life and trouble-free processing. Iron and steel play an important role in the economy and the development of the country. Steel is one of the highly recyclable materials and also the most used material in the world.
COVID-19 Impact Analysis
Top Impacting Factors
Increase in demand in the construction sector drives flat steel products market growth. Similarly, rise in demand in the automobile industry is also playing a key role in driving the flat steel products market growth. However, high investment cost in flat steel manufacturing industries hampers the market growth. On the other hand, increase in technological advancements and demand for electric vehicles are expected to provide growth opportunities for the market in near future.
China is one of the key consumers of flat steel products globally. The market in Asia-Pacific is anticipated to experience growth owing to the surge in demand for flat steel products. The flat steel products market in India is projected to exhibit the highest CAGR in Asia-Pacific during the study period due to the rise in urban population and the expansion of end user industries including automotive and construction.
Market Trends
Key Benefits of the Report
Flat Steel Products Market Report Highlights
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Key Market Players | Sumitomo Metal Corporation, POSCO, ArcelorMittal, Shougang Group Co., Ltd., China Baowu Steel Group Corporation Limited, Tata Steel, SSAB AB, HBIS Group, ThyssenKrupp AG,, JFE Steel Corporation |
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