The global structural steel market the size should be 291.2 billion USD in 2020 and reach 447.3 billion USD in 2027, growing at a CAGR of 7.42% in 2021-2027. The global structural steel market is primarily driven by growth in construction expenditure across the world as both developed and developing economies aim to improve public infrastructure due to rapid population growth and changing of their needs.

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Structural Steel Industry: Market Dynamics

Urbanization and infrastructure development have increased the demand for steel products including structural steel to provide the desired design. High quality is one of the key factors predicted for the growth of the structural steel market.

The companies are focusing on developing advanced and high quality products to increase the adoption of structural steel for various applications. Structural steel requires proprietary flame retardant treatment and is disposed to corrosion in outdoor atmospheres. This factor is expected to hamper the growth of the structural steel market.

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Report scope

The report outlines the study of the global structural steel market based on product type and application.

On the basis of product type, the structural steel market has been segmented into –

  • Light structural steel
    • Angle [L Shaped]
    • Carrying pile [H Shaped]
    • Channel [C Shaped]
    • I radiate [ I Shaped]
    • Tee [T Shaped]
    • Pipe
    • Steel hollow section [HSS]
      • 25*25mm to 40*40mm
      • >40*40mm to
      • >70*70mm to
      • >100*100mm to
      • >150*150mm to
      • >200*200mm to
      • Rectangular hollow section
      • 50*25mm to 60*40mm
      • >60*40mm to
      • >100*50mm to
      • >150*100mm to
      • >200*150mm to
      • >300*250mm to
      • 20mm to 40mm
      • >40mm to
      • >100mm to
      • >250mm to
      • >350mm to
  • Heavy structural steel
    • Angle [L Shaped]
    • Carrying pile [H Shaped]
    • Channel [C Shaped]
    • I radiate [ I Shaped]
    • Tee [T Shaped]
    • Pipe
    • Steel hollow section [HSS]
      • 25*25mm to 40*40mm
      • >40*40mm to
      • >70*70mm to
      • >100*100mm to
      • >150*150mm to
      • >200*200mm to
      • Rectangular hollow section
      • 50*25mm to 60*40mm
      • >60*40mm to
      • >100*50mm to
      • >150*100mm to
      • >200*150mm to
      • >300*250mm to
      • 20mm to 40mm
      • >40mm to
      • >100mm to
      • >250mm to
      • >350mm to
  • rebar

On the basis of application, the structural steel market has been segmented into –

  • Residential,
  • Non Residential
  • Commercial
    • Institution
    • Desks
    • Health buildings
  • Industrial
    • Energy development
      • land structure
      • structure at sea
  • Station and Hangers
  • Bridges
  • Others

Considering the application segment, residential application is gaining traction in the structural steel market owing to redevelopment of old buildings and increasing construction of civic amenities. In the commercial segment, skyscrapers fuel the demand for structural steel in the global market.

Structural Steel Market Regional Outlook

Based on region, the global structural steel market has been segmented into five geographical regions: North America, Europe, Asia-Pacific, South America, Middle East and Africa. In 2020, Asia-Pacific was estimated to be the largest market by revenue and accounted for a 55% market share in the global structural steel market. Regional growth is mainly driven by growth in housing construction activities in emerging economies such as China, India, Indonesia, Malaysia, Vietnam and Thailand. Unfractured projects in these countries are another promising area that is expected to drive the demand for structural steel products.

The trade war between China and the United States is likely to impact the dynamics of the structural steel market. For example, in September 2018, the US government imposed a 10% tariff on Chinese goods worth $200 billion, including aluminum and steel. Answer that; the Chinese government has imposed tariffs on US goods worth an additional $60 billion. This trade uncertainty between these two major countries has long impacted market growth. The impact of retaliation and tariffs could be significant and result in higher consumer prices and slower market investment.

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Key competitors in the global structural steel market include

Several market players are focusing on achieving economies of scale by reducing energy costs and other variable operational costs. Chinese and Asian manufacturers have created a massive impact on the market dynamics owing to the production of low cost structural steel owing to the high availability of labor. Emerging economies such as China, India, Mexico and Brazil are expected to be key for structural steel consumption in the coming years. The global structural steel market is fragmented, with the presence of key players across the globe. Major players operating in the structural steel industry are –

  • ArcelorMittal SA
  • Shagang Group Co.,Ltd
  • Hesteel Group Company Limited
  • Nippon Steel and Sumitomo Metal Corporation
  • POSCO
  • VISA Steel
  • Steel Authority of India Limited
  • Anyang Iron and Steel Group Co., Ltd
  • China BaoWu Steel Group Corporation Limited
  • Tata Steel
  • Chinese steel company
  • Novolipetsk Steel
  • Evraz Group
  • Hyundai Steel Co., Ltd. (HSC),
  • SHYAM STEEL INDUSTRIES LIMITED.

The structural steel market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of industry/regional outlook with market player’s presence in the respective segment and region/country. The information concluded in the report includes inputs from primary interviews with industry experts.

Structural Steel Market report covers comprehensive analysis on

  • Market Segmentation and Regional Analysis
  • 10 year market size
  • Price analysis
  • Supply and demand analysis
  • Product life cycle analysis
  • Porter’s Five Forces and Value Chain Analysis
  • Analysis of developed and emerging economies
  • PEST analysis
  • Factor analysis of the market and forecasts
  • Opportunities, risks and market trends
  • Conclusion and recommendation
  • Regulatory landscape
  • Patent analysis
  • Competition landscape
  • More than 15 company profiles

Regional Structural Steel Market Analysis includes

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA

Structural Steel Market Target Audience

  • Structural steel fabricators
  • Steel Manufacturers, Distributors and Suppliers
  • End-use companies
  • Entrepreneurs, exporters and traders
  • Government Regulatory Agencies and Authorities

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