Flat Steel Market Is Expected To Grow At A CAGR of 3.6% from 2014 to 2025 | Grand View Research, Inc.
The global flat steel market is expected to
reach USD 1,015.7 billion by 2025, growing at a CAGR of 3.6%, according to a
new report by Grand View Research, Inc. The rapid industrialization, increase
in infrastructural investment and growing global population has been a major
factor driving the global market.
Building & infrastructure application segment has
been witnessing significant growth in the flat steel market. Steel is one of
the vital requirements during construction on account of durability, low
maintenance, long life period, high strength, and reusability. This is likely
to have a positive impact on the demand for the flat products in this sector.
Volatile price of raw material is expected to be the
major market restraint over the forecast period. Instability of raw material
prices is anticipated to keep the whole sector under pressure in future.
Companies have been trying to improve competitiveness
by optimizing existing processes and developing new processes to reduce
environmental impact, improve quality, and reduce cost. Companies including
ArcelorMittal have been trying to develop products which can provide steel
solution to engine powertrains and low-cost cars.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/flat-steel-market
Further
key findings from the study suggest:
- Plates segment is expected to grow at fastest
CAGR of 4.0% from 2017 to 2025, in terms of revenue, due to its wide range
of application in construction industry
- Building & infrastructure segment emerged as
the largest application in 2016 and is expected to grow at fastest CAGR of
4.1% from 2017 to 2025 on account of high demand for sustainability,
durability, and economically efficient materials.
- Mechanical equipment segment is expected to grow
at fastest CAGR of 3.6% from 2017 to 2025 in terms of revenue in North
America region on account of growing agricultural and construction
machinery sector.
- Europe accounted for the market share of 18.56%
in 2016 and is expected to grow at a CAGR of 3.0% from 2017 to 2025 in
terms of revenue due to massive production in the economies of this
region. Germany is the world’s fifth largest exporter in 2016, exported
24.8 million metric tons in more than 200 countries.
- The Asia Pacific market is expected to witness
fastest CAGR from 2017 to 2025 on account of high GDP growth, rising
population, and rapid industrialization & urbanization in the region
- Market players have been adopting mergers &
acquisition, expansion, and agreement & partnership as their key
strategic initiatives over the past years. For instance, in February 2017,
ArcelorMittal entered into a joint venture with Cellino to form Steel
Came. The company held a share of 35.0% in the new venture.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global flat
steel market on the basis of product, material, application, and region:
Flat Steel Product Outlook
(Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
- Sheet & strips
- Plates
Flat Steel Material Outlook
(Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
- Carbon steel
- Alloy steel
- Stainless steel
- Tool steel
Flat Steel Application Outlook
(Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
- Building & infrastructure
- Automotive & other transport
- Mechanical equipment
- Others
Flat Steel Regional Outlook
(Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-flat-steel-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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