Coated Steel Market Growing Trend and Demand in Construction and Automotive Industry, Forecast 2027
The global Coated Steel market is forecast to reach USD 34.90 Billion by 2027, according to a new report by Reports and Data. The driving factors noted for the global coated steel market is increasing requirement from end-use sectors such as construction, automobile industries, and appliances; growing competition in the sector; relatively cheap than electro-galvanizing process; quality of products and differentiation; cutting edge durability; and fluoropolymer continues to expand in the renovation & construction market.
The demand for the market is expected to be powered mainly by the growth in the construction field. Expanded development of appliances in various regions, coupled with the advent of a phenomenal mobile aftermarket industry, is expected to lead to the growth of such materials in the coming years. Automation is effective; coating procedures are expected to improve demand over the projected period. Moreover, extensive R&D for the manufacture of advanced steel is anticipated to boost the market growth.
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Key participants include ArcelorMittal S.A., SSAB AB, Salzgitter AG, OJSC Novolipetsk Steel, Voestalpine AG, ThyssenKrupp AG, Nippon Steel, Sumitomo Metal Corporation, Essar Steel Ltd., Tata Steel Ltd., and Jindal Steel & Power Ltd., among others.
Further key findings from the report suggest
- The APAC is expected to intensify with an estimated 8.4% CAGR, due to the booming construction industry, the demand in emerging nations such as China and India is rising. The government has taken steps for urbanization, and industrialization has led to the rapid growth of the production sector in the country, which will have a significant impact on regional growth.
- North America is the second-biggest market trailed by the Asia Pacific due to rapidly increasing semiconductors and electronics. The U.S. soared as the largest market for the components in North America in 2019. This has been credited with the introduction of the country’s refurbishing business.
- The construction industry established as the most significant application segment, and in 2019 was valued at USD 5.16 billion.
- The furniture industry is a sector of low concentration. As the most preferred material for furniture has become wood, the market demand in the segment has moved as well, many new competitors enter this sector, and a substantial part of the demand accounted for by small businesses.
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Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Color Coated
- Metallic Coated
Resin Type Outlook (Revenue, USD Billion; 2017-2027)
- Polyester Color Coated Steel
- Fluro-Polymer Color Coated Steel
- Siliconized Polyester Color Coated Steel
- Plastisol Color Coated Steel
Application Outlook (Revenue, USD Billion; 2017-2027)
- Automotive Industry
- Domestic Appliances
- Construction Industry
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)
The Coated Steel market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Coated Steel market.
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Coated Steel market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Coated Steel market over the forecast years?
- Which are the leading players in the global Coated Steel market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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