This market research report presents a detailed segmentation of the global steel flat-rolled products market by end-user (construction, infrastructure and transport, automobile, consumer good, defense, packaging, and others), and by geography (the Americas, APAC, Europe, and MEA). The key leading vendors identified in the market are ArcelorMittal, JFE Steel, NSSMC, POSCO, Shanghai Baosteel Group, and United States Steel.
Technavio’s market research analysts estimate the global steel flat-rolled products market, to grow at a CAGR of around 6% between 2016 and 2020. The rapid increase in industrialization and development in APAC countries like India, China, and South Korea will boost the demand for steel flat-rolled products globally. Also, the rapid urbanization, substantial investments in the infrastructure sector, and the banning of iron-ore mining in India are expected to the drive the market for steel flat-rolled products over the forecast period. APAC is the largest market for steel flat-rolled products, owing to increasing demand coming from the automobile and construction sectors.
The new market research report from Technavio provides a breakdown and analysis of the steel flat-rolled products segments by technology.
“Steel is the most important engineering material, but its production is an extremely energy-intensive process. The recent technological advancements and extensive research and development has reduced the energy consumption and will eventually lead to the reduction in the emission of greenhouse gases. Hence, the use of steel as a sutanable material for industrial and commercial applications will boost the growth of the steel flat-rolled products market in the coming years,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research
The construction segment monopolizes the global steel flat-rolled products market and account for close to 33% of the overall market share. Flat-rolled products are mostly used in roofing, wall, and ceiling cladding applications. With the rapid increase in construction activities and industrialization, the market for flat-rolled products in the construction sector is expected to reach nearly 320 million metric tons on the basis of volume by 2020.
The leading vendors in the global steel flat-rolled products market are ArcelorMittal, JFE Steel, NSSMC, POSCO, Shanghai Baosteel Group, and United States Steel. This market is highly competitive with a few leading vendors in the market. However, with an increase in the number of new suppliers, the market share of the top vendors is declining. Intense competition, technological advancements, and changes in market preferences are some of the risk factors associated with this market.
A more detailed analysis is available in the Technavio report, Global Steel Flat-rolled Products Market 2016-2020.
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