The Flat Steel Global Market Report 2023, provides comprehensive information on the flat steel market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global flat steel market size is expected to grow from $559.92 billion in 2022 to $584.26 billion in 2023 at a compound annual growth rate (CAGR) of 4.35%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of flat steel market is expected to reach $700.54 billion in 2027 at a CAGR of 4.64%.
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Product innovation is a key trend gaining popularity in the flat steel market. Major companies operating in the flat steel market are working on new product innovations to sustain their position in the market. For instance, ArcelorMittal S.A. a Luxembourg-based steel manufacturing company, introduced Granite HDXtreme, a new pre-painted flat steel for roofs and façades with UV and corrosion protection designed for extremely harsh situations. Granite HDXtreme is a highly sustainable steel that is devoid of chromates and heavy metals and is 100% recyclable, resulting in a smaller CO2 footprint when compared to alternative solutions such as aluminum. Its strength stems from its 75m three-layer coating technique. Each layer has a distinct yet essential role, in which the primer layer is critical in corrosion protection, and on top of it is a basecoat, which protects the durability of the steel and provides the final color. A varnish layer is applied to the coating to enhance texture, increase lifespan, surface robustness, and improve UV weathering potential.
The flat steel market is segmented:
1) By Product: Sheet And Strips, Plates
2) By Material: Carbon Steel, Alloy Steel, Stainless Steel, Tool 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
Asia-Pacific was the largest region in the flat steel market in 2022.
The table of contents in TBRC’s flat steel market report includes:
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