Structural Steel Market Is Booming Worldwide by 2026 | ArcelorMittal, POSCO, Tata Steel, Nucor Corporation, Erdemir Group, Voestalpine, Severstal, British Steel

According to latest research report, Structural Steel Market was estimated at USD 285 Billion in 2019 and is projected to surpass USD 500 billion by the year 2026.

Structural steel market is anticipated to expand at a significant rate throughout the coming time period owing to increasing construction activities in residential, commercial, and industrial sectors. Structural steel is a steel construction material which is fabricated with a particular shape and chemical composition to suit the applicable specifications of a project.

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Massive growth in construction activities across the world will have a major impact on structural steel market forecast, in terms of production as well as consumption. Structural steel is essentially a type of steel construction material that is manufactured in a certain shape or cross-section, with some chemical composition and high values of strength. It is primarily used as a to counter the low ductility and tensile strength of the concrete.

Based on product, the market is classified light structural steel, heavy structural steel, and rebar. The heavy structural steel segment is further bifurcated into bearing pile (H shaped), channel (C shaped), angle (L shaped), I beam (I shaped), tee (Tee shaped), pipe, and hollow section steel. Among these, the angle (L shaped) segment is likely to exhibit over 6.0% CAGR since it is used in used in framing, brackets, trim and reinforcements. Channel (C shaped) segment will exhibit over 3.0% CAGR in the structural steel market through the projected duration.

Regional Growth Drivers are -
o North America: Growing Steel consumption and increasing residential housing units
o Europe: Growth in Residential and Non-Residential infrastructure
o Asia Pacific: Growing infrastructure and increasing number of skyscrapers

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The light structural steel segment is classified similarly into bearing pile (H shaped), angle (L shaped), tee (T shaped), channel (C shaped), I beam (I shaped), hollow section steel, and pipe. Among these, the angle (L shaped) segment is likely to exhibit over 4.0% CAGR in the structural steel market. These products are used in framing, brackets, trim and reinforcements. The channel (C shaped) segment is likely to exhibit over 2.5% CAGR in the structural steel market. These products are used in brackets, framing, trim and reinforcements.

The hollow section steel is used in highway signs, building construction, guard rails, power transmission towers, bridges, and oil rigs. This segment will rise over 2.9% by 2026. Rebar product segment accounted for nearly 66% of the global structural steel market share. These are used extensively in concrete beam, column, structural floor, or foundation.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

o ArcelorMittal S.A.
o Shagang Group Company Limited
o Nippon Steel & Sumitomo Metal Corporation
o POSCO
o VISA Steel
o Anyang Iron & Steel Group Co. Ltd.
o Baosteel Company
o Tata Steel
o China Steel Corporation
o Novolipetsk Steel
o Evraz Group
o Hyundai Steel Co. Ltd. (HSC)
o Steel Limited
o Nucor Corporation
o Erdemir Group
o Voestalpine AG
o Severstal
o Jindal Steel and Power Ltd.
o British Steel

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From a regional frame of reference, the Latin America structural steel market focuses on strengthening the value of regional integration, as well as technological innovation. This region accounted for a market revenue of $3.73 Bn in 2019. The Middle East region accounted for nearly 3.8% of the global structural steel market.

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