The global Structural Steel Market is forecasted to grow at a rate of 5.4% in terms of value, from USD 99.79 billion in 2019 to reach USD 152.57 billion by 2027. The structural steel market is driven by rising construction investment internationally, as both developed and developing counties aim to improve public infrastructure due to the rapidly growing population. The product provides a range of advantages such as strength, elasticity, lightweight, recyclability, uniformity, durability, and ease of manufacturing. The product’s typical applications include long-range structures, towers, multi-story and high-rise buildings, bridges, heavy-duty plants, portal frames, sports stadiums, complexes, and buildings.
Some of the leading players in the global Structural Steel market:
Tata Steel Limited, JSW Steel Limited, Arcelor Mittal S.A., Nippon Steel Sumitomo Metal Corporation (NSSMC), Benxi Beiying Iron Steel Group Co. Ltd., Baosteel Group Corporation, Hyundai Steel Co. Ltd. (HSC), Anshan Iron Steel Group Corporation, POSCO, and Hunan Valin Iron Steel Group Co. Ltd.
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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Structural Steel market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Structural Steel market?
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Structural Steel Market Segmentation:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Alloy Structural Steel
- Carbon Structural Steel
- Heat-Resistant Steel
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Heavy Structural Steel
- Light Structural Steel
- Rebar
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Residential
- Non-Residential
- Commercial
- Institution
- Offices
- Industrial
- Energy Development
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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