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What are the Growth Drivers of Structural Steel Market? ArcelorMittal, Nucor Corporation, Hesteel Group, Nippon Steel & Sumitomo Metal Corporation, POSCO, VISA Steel, Evraz Group, Hyundai Steel

04-19-2020 07:45 AM CET | Business, Economy, Finances, Banking & Insurance

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What are the Growth Drivers of Structural Steel Market?

The newly Added research report at Market Study Report titled "2020-2026 Global Structural Steel Report" provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.

Structural steel comprises a broad range of low carbon and manganese steels that are used for marine and civil engineering applications. These are manufactured in section as well as plate shapes and are generally used in ships, buildings, pipelines, and bridges.

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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.

Structural Steel is offered depending on an individual's needs, by different caregivers, at different places. Mostly it is provided at home by unpaid family members or friends. Structural Steel can also be given in a facility like nursing home, in the community, like in an adult day care center.
Structural steel is the ideal choice since it is the cost leader for most of the projects in design and materials. It requires less maintenance as compared to other traditional building methods and is inexpensive to manufacture.

Structural steel is primarily used for construction purposes because of its high strength to weight ratio and rigidity. It can also survive harsh weather conditions or extreme forces like hurricanes, heavy snow, strong winds, and earthquakes. They are also unreceptive to rust, and are not affected by fungi, bugs, termites, mold, and mildew.

The structural steel market is segmented in terms of product, application, and regional landscape.
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.

The hollow section steel segment is further classified into square hollow section, rectangular hollow section, and circular hollow section. Among these, the square hollow section segment is likely to exhibit over 2.5% CAGR in the structural steel market.

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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.

With respect to application, the market is classified into residential, non-residential, industrial, station & hangers, bridges, and others. The non-residential application segment is further classified into commercial, offices, institutions, and health buildings. Among these, the offices application segment will exhibit over 3.5% CAGR in the structural steel market. The station & hangers segment is likely to exhibit over 2.5% CAGR through the forecast period.

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.

Table of Content:
Chapter 1 Methodology & Scope

1.1 Methodology

1.2 Market definitions

1.3 Market estimation & forecast parameters

1.4 Data Sources

1.4.1 Primary

1.4.2 Secondary Paid Sources Public Sources

Chapter 2 Executive Summary

2.1 Structural Steel industry 360 degree synopsis, 2015 - 2026

2.1.1 Business trends

2.1.2 Regional trends

2.1.3 Product trends

2.1.4 Application trends

Chapter 3 Structural Steel Industry Insights

3.1 Industry segmentation

3.2 Industry landscape, 2015 - 2026

3.3 Industry ecosystem analysis

3.3.1 Vendor matrix

3.3.2 Distribution channel analysis Collaborations/Partnerships Distributors

3.4 Technology landscape

3.5 Raw material analysis

3.6 Regulatory landscape North America American Institute of Steel Construction Europe India

3.7 Pricing analysis

3.7.1 Heavy sectional steel L shaped H shaped Sheet pile C shaped I shaped T shaped Pipe HSS

3.7.2 Light sectional steel

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