Chemical and Material

Structural Steel Market Size is Forecasted to Reach US$ 226.91 Billion by 2030

The global structural steel market size is forecasted to reach from US$ 130.63 billion in 2021 to US$ 226.91 billion by 2030 and is anticipated to grow at compounded annual growth rate (CAGR) of 6.3% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The structural steel market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decision to sustain growth through the assessment period.

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The structural steel is a type of steel that is welded in various forms and grades for usage in the construction sector. It resembles an extended beam with various cross-sectional forms. Most of the countries have a standard that governs its shapes, sizes, chemical composition, and qualities.

The high strength, ease of manufacturing, the disaster resistance, ductility, and quick erection speed are some of the few of the advantages of the structural steel. The airports, manufacturing plants, the healthcare institutions, and retail outlets are few of the examples of non-residential structures where the structural steel is used on the large scale.

The global structural steel market is expected to increase steadily in the next upcoming years, due to rising disposable income and technological advancements in building and construction projects. The structural steel market is predicted to increase significantly during the forecast period, due to rising infrastructure demand in emerging markets such as India and China.

One of the construction industries trends that is predicted to increase demand for structural steel building designs throughout the forecast period is a greater focus on innovation in green construction materials. These materials are recyclable, eco-friendly, and help to cut down on greenhouse gas emissions.

Scope of the Structural Steel Market

Report Coverage Details
Market Size in 2021 US$ 130.63 Billion
Growth Rate From 2021 to 2030 CAGR of 6.3%
Revenue Projection in 2030 US$ 226.91 Billion
Largest Market Asia-Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, Application, Geography

Competitive Landscape Analysis:

Some of the leading companies operating in the structural steel market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

Major companies operating in this report are

  • Baogang Group
  • Gerdau S.A.
  • Nippon Steel Corporation
  • Tata Steel
  • ArcelorMittal
  • Evraz PLC
  • JSW Steel
  • POSCO
  • SAIL
  • Anshan Iron & Steel Group Corporation

Market Dynamics

Drivers

Rapid urbanization and industrialization

The urbanization and industrialization in developing regions such as Asia-Pacific and South Africa is creating new opportunities for the rising adoption of structural steel in the market. This has led to certain infrastructure projects which will help into the development of underdeveloped regions. The manufacturing industry has seen growth in recent years due to rapid rise in urbanization and industrialization. The increasing construction of manufacturing facilities, factories, and production units is boosting the market growth. Thus, the rapid urbanization and industrialization is driving the growth of structural steel market.

Restraints

Structural steeleasily gets corroded

The structural steel can easily be corroded. The corrosion of structural steel can be caused when it reacts to hydrogen or oxygen and bacteria or dust particles. The condensation of water vapor and humidity on structural steel surfaces can also lead to corrosion. The corrosive gases such as ammonia, chlorine, hydrogen oxides, and Sulphur oxides can cause corrosion of electronic equipment parts made up of structural steel. The oxygen and hydrogen exposure can also lead to corrosion of structural steel. As a result, the corrosion of structural steel is restricting the growth of structural steel market during the forecast period.

Opportunities

High demand from various end-users

The structural steel is highly demanded for the construction of buildings, ships, bridges, houses, cafes, restaurants, and hotels. The structural steel helps the construction with ease and efficiency. The demand for structural steel is increasing due to infrastructure development in the developing countries. Thus, the high demand from various end-users is creating lucrative opportunities for the growth of the structural steel market.

Challenges

High maintenance costs

The structural steel requires high maintenance cost. The reason for this is that the structural steel can easily be corroded. The exposure of certain chemical, gases, and bacteria leads to the corrosion of metals. To avoid this, the industries such as construction, transportation, and shipbuilding need to take utmost care of the equipment which is made of structural steel. As a result, the high maintenance costs are a huge challenge for the growth of structural steel market during the forecast period.

Report Highlights

  • Based on the product, the high sectional steel segment dominated the global structural steel market in 2020 with highest market share. The high strength of high sectional steel helps in the construction of ships and buildings to great extent.
  • Based on the application, the non-residentialsegment is estimated to be the most opportunistic segment during the forecast period. This is attributed to the increased spending on healthcare facilities, data centers, big-box retail outlets, airports, stadiums, and manufacturing facilities. The structural steel is used in construction of commercial buildings on a large scale.

Regional Snapshot

Asia-Pacific is the largest segment for structural steel market in terms of region. The Asia-Pacific structural steel market growth is expected to be aided by increased investments in the housing and commercial sectors of rising nations such as India and China.

North America region is the fastest growing region in the structural steel market. The U.S. is the largest market in the North America structural steel market. The rising investments on construction and transportation projects are propelling the growth of the structural steel market in North America region.

Segments Covered in the Report

By Product

  • High sectional steel
  • Light sectional steel
  • Rebar

By Application

  • Residential
  • Non-Residential
    • Industrial
    • Commercial
    • Institutional
    • Offices

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global structural steel market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for structural steel are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Structural Steel Market 

5.1. COVID-19 Landscape: Structural Steel Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Structural Steel Market, By Product

8.1. Structural Steel Market, by Product Type, 2021-2030

8.1.1. High sectional steel

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Light sectional steel

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Rebar

8.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Structural Steel Market, By Application

9.1. Structural Steel Market, by Application, 2021-2030

9.1.1. Residential

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Non-Residential (Industrial, Commercial, Institutional, Offices)

9.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Structural Steel Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

Chapter 11. Company Profiles

11.1. Baogang Group

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Gerdau S.A.

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Nippon Steel Corporation

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Tata Steel

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. ArcelorMittal

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Evraz PLC

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. JSW Steel

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. POSCO

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. SAIL

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Anshan Iron & Steel Group Corporation

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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