Summary

Steel Market Growth & Trends

The global steel market size is expected to reach USD 1,158.15 billion by 2030, registering a CAGR of 2.8% during the forecast period, according to a new report by Grand View Research, Inc.. Growing inclination of contractors towards sustainable, low cost and durable building materials is driving steel demand in upcoming residential projects & industrial infrastructure.

Technological advancements have made pre-engineered metal buildings with high structural integrity a reality, where steel plays an essential function in lending stability, aesthetic appeal and design flexibility. Stringent regulations promoting green & energy-efficient buildings is also contributing to steel demand, especially in industrial structures.

The Asia Pacific market is relatively subdued, but displays high growth owing to exponential growth in the Indian market on account of protectionist measures & rising demand. About 1/3rd of Chinese exports are shipped to countries in Southeast Asia owing to anti-dumping policies by western countries, which has contributed to economic growth and infrastructure development in these countries.

Hot rolled products dominated the steel market with over 74.6% of the volume share in 2022. These products are widely utilized in automobile structures such as frames, wheel and other parts as well as welding and construction trades among others.

Steel Market Report Highlights

• The global steel market size was valued at USD 927.66 billion in 2022 and is expected to grow at a CAGR of 2.8% from 2023 to 2030.

• Steel tubes are anticipated to grow at above 3.8% CAGR in terms of volume, owing to high demand for underground pipelines in fuel & water transportation.

• In 2022, hot rolled steel segment accounted for the largest revenue share of 74.6%, owing to its relatively economical production and exceptional characteristics such as superior weldability, formidability, high residual strain during baking, and good adhesion ability.

• Pre-engineered metal building (PMB) structures are increasingly replacing other conventional structures since they are over 30% lighter, providing simpler and lightweight designs.

• The steel panels segment is expected to expand at a CAGR of 2.9% during the forecast period.

• North America & Europe are expected to remain dominant yet mature steel-consuming regions, owing to market saturation and low construction spending as compared to emerging economies; however, rising housing starts in the U.S. may offer lucrative opportunities for innovative producers & distributors.

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Product
1.1.2. End-use
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product outlook
2.2.2. End-use outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Steel Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Steel Market Analysis Tools
3.6.1. Industry Analysis - Porter’s Five Forces
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Steel Market: Product Estimates & Trend Analysis
5.1. Steel Market: Key Takeaways
5.2. Steel Market: Product Movement & Market Share Analysis, 2022 & 2030
5.3. Hot Rolled Steel
5.3.1. Hot rolled steel market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
5.4. Cold Rolled Steel
5.4.1. Cold rolled steel market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
5.5. Direct Rolled Steel
5.5.1. Direct rolled steel market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
5.6. Tubes
5.6.1. Tubes market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
5.7. Other Profiles
5.7.1. Other profiles market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
Chapter 6. Steel Market: End-use Estimates & Trend Analysis
6.1. Steel Market: Key Takeaways
6.2. Steel Market: End-use Movement & Market Share Analysis, 2022 & 2030
6.3. Pre-Engineered Metal Buildings
6.3.1. Pre-engineered metal buildings market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
6.3.1.1. Primary Members
6.3.1.1.1. Primary members market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
6.3.1.2. Secondary Members
6.3.1.2.1. Secondary members market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
6.3.1.3. Roofs & Walls
6.3.1.3.1. Roofs & walls market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
6.3.1.4. Panels
6.3.1.4.1. Panels market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
6.4. Bridges
6.4.1. Bridges market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
6.5. Industrial Structures
6.5.1. Industrial structures market estimates and forecasts, 2018 to 2030 (Kilo tons, USD Million)
Chapter 7. Steel Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Steel Market by Region: Key Takeaways
7.3. North America
7.3.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.3.4. Mexico
7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.4. Europe
7.4.1. Germany
7.4.1.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.4.2. UK
7.4.2.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.4.3. France
7.4.3.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.4.4. Italy
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.4.5. Spain
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5. Asia Pacific
7.5.1. China
7.5.1.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5.2. India
7.5.2.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5.3. Japan
7.5.3.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5.4. South Korea
7.5.4.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5.5. Thailand
7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5.6. Indonesia
7.5.6.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5.7. Malaysia
7.5.7.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.5.8. Australia
7.5.8.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.6. Central & South America
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.6.2. Argentina
7.6.2.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.7.2. UAE
7.7.2.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.7.3. Oman
7.7.3.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.7.4. Qatar
7.7.4.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.7.5. Egypt
7.7.5.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
7.7.6. South Africa
7.7.6.1. Market estimates and forecasts, 2018 - 2030 (Volume, Kilo Tons; Revenue, USD Million)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. NIPPON STEEL CORPORATION
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Product benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Baosteel
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Product benchmarking
8.2.2.4. Strategic initiatives
8.2.3. POSCO
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Product benchmarking
8.2.3.4. Strategic initiatives
8.2.4. ArcelorMittal S.A.
8.2.4.1. Company overview
8.2.4.2. Financial performance
8.2.4.3. Product benchmarking
8.2.4.4. Strategic initiatives
8.2.5. Hyundai Steel Co., Ltd.
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Product benchmarking
8.2.5.4. Strategic initiatives
8.2.6. JFE Steel Corporation
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Product benchmarking
8.2.6.4. Strategic initiatives
8.2.7. Jiangsu Shagang Group Co., Ltd.
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Product benchmarking
8.2.7.4. Strategic initiatives
8.2.8. Tata Steel Ltd.
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Product benchmarking
8.2.8.4. Strategic initiatives
8.2.9. ThyssenKrupp AG
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Product benchmarking
8.2.9.4. Strategic initiatives