Stratview Research on the Flat Steel Market provides a thorough analysis of the market that can help users to understand the competitive dynamics and different factors driving or restraining industry growth.
The Flat steel market is likely to witness a healthy CAGR of 5.3% during the forecast period. An expected increase in demand for flat steel products is attributed to their increasing usage and applications in various end-use industries, such as shipbuilding and automotive body panels, building & infrastructure, transportation, and industrial sectors.
The global Flat Steel Market throws light on the major insights that offer the users a comprehensive addition of several factors such as global distribution, supply chain, market size, manufacturers, and market factors that affect the global contributions. In addition, the Flat Steel Market study also shifts its attention to the users with an in-depth competitive landscape, growth opportunities, market share along with product type and applications, key companies active in the market, and growth strategies practiced by the leading players.
Key players in the Flat Steel Market
- ArcelorMittal S.A.
- China Baowu Steel Group Corp., Ltd.
- Nippon Steel Corporation
- Hesteel Group Company Limited
- POSCO
- Shougang Group Co., Ltd.
- JFE Steel Corporation
- Tata Steel Limited
- SSAB AB
- ThyssenKrupp AG
- Voestalpine AG.
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Segment-wise analysis
Based on the process type, the market is segmented into basic oxygen furnaces and electric arc furnaces. Basic oxygen furnaces held the larger share of the market in 2019, owing to their wider usage in steel production across the world due to their higher production rates, lower-residual element, and more powerful and effective process.
Based on the product type, the flat steel market is segmented into sheets & strips, and plates. Sheets & strips are expected to remain the larger product type of the market during the forecast period, owing to their wider applications, such as in automotive body panels, domestic white goods, roofing and cladding materials, etc.
Based on the end-user type, the market is segmented as building & infrastructure, mechanical equipment, transportation, and others. The building & infrastructure segment is expected to remain the largest and the fastest-growing end-user of the market during the forecast period, owing to rapid growth in the construction industry with increasing usage of flat steel products in constructing residential & commercial buildings and in roads, ports, airports, and railways.
In terms of regions, Asia-Pacific is expected to remain the dominant region in the market in the coming five years owing to the largest and the fastest-growing construction market in the region. Industrialization, urbanization, and increasing disposable income in emerging economies will continue to propel the demand for flat steel in the region over the next five years. Organic growth of the automotive industry with increasing penetration of electric vehicles to reduce carbon emissions is also likely to boost the demand for flat steel products in the region. The region is also the largest exporter of crude steel along with flat steel products in the world with China and India being the top two producers in the world.
The Flat Steel Market report further exhibits an outline of in-depth analysis gathered from reliable sources. The report also focuses on market revenue streams, Covid effect analysis on the market with an approach to upcoming market trends, and the complete progress of the market.
Moreover, the Flat Steel Market report is Segmented by Process Type (Basic Oxygen Furnace, Electric Arc Furnace), by Product Type (Sheets & Strips, Plates), by End-User Type (Building & Infrastructure, Mechanical Equipment, Transportation, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Research Methodology
The study incorporates a wide range of analytical resources along with primary and secondary research methodologies.
Frequently Asked Questions (FAQs)
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