Press release
Rolled And Drawn Steel Market Size, Industry Analysis, Key Insights And Forecast To 2033
Rolled And Drawn Steel Market Analysis
The Business Research Company offers in-depth market insights through Rolled And Drawn Steel Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The rolled and drawn steel market size has grown strongly in recent years. It will grow from $252.51 billion in 2023 to $271.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to industrialization and infrastructure development, automotive industry growth, global economic expansion, urbanization trends, energy sector developments.
The rolled and drawn steel market size is expected to see strong growth in the next few years. It will grow to $346.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to renewable energy infrastructure, electric vehicles (EV) expansion, focus on sustainable construction, smart cities and IoT integration, stricter environmental regulations. Major trends in the forecast period include infrastructure investments, technological innovations in steel processing, technological advancements in steel production, industry 4.0 integration, digitalization of supply chains.
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Market Segmentation:
The rolled and drawn steel market covered in this report is segmented -
1) By Type: Color Coated Coil, Continuous Hot Dip Galvanized Steel Coil, Carbon Structural Steel Cold Rolled Coils, Deep Drawing Cold Rolled Coils
2) By Manufacturing Process: Basic Oxygen Furnace (BOF), Electric Arc Furnace (EAF)
3) By Application: Automotive, Construction, Home Appliance, Machinery, Other Applications
Major Driver - Global Automotive Industry Growth Fuels Expansion In The Rolled And Drawn Steel Market
The growing global automotive industry is expected to propel the growth of the rolled and drawn steel market in the coming future. The growing automotive industry is increasing the demand for automotive parts to maintain the interior and exterior look of the vehicle, improve longevity and the original quality of the vehicles, which in turn increases the demand for rolled and drawn steel. For instance, Forbes, an American business magazine, estimated that global auto sales will increase by 4% in 2023 to 89.7 million. Also, according to the India Brand Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, the automotive industry in India is expected to reach 282.8 billion by 2026. This growth in the automotive industry will drive the rolled and drawn steel market.
Competitive Landscape:
Major companies operating in the rolled and drawn steel market report are KG Dongbu Steel Co Ltd., China Baowu Steel Group Corp Ltd., ArcelorMittal S.A., Pohang Iron and Steel Company, Nippon Steel Corporation, Baosteel Group Co, Jiangsu Shagang Group Co Ltd., ThyssenKrupp AG, Shougang Group Co Ltd., Nucor Corporation, Anyang Iron and Steel Group Co Ltd., JFE Holdings Inc., Jianlong Group, Tata Steel Limited, Ansteel Group, Hesteel Group Company Limited, JSW Steel Limited, Hyundai Steel Co Ltd., Maanshan Iron and Steel Company Limited, United States Steel Corporation, NLMK Group, Gerdau S.A., China Steel Corporation, BlueScope Steel Limited, Benxi Steel Group Corp Ltd., Steel Authority of India Limited, Hunan Valin Steel Co Ltd., Yieh Phui Enterprise, Rautaruukki Oyj, Barclay & Mathieson Ltd., Sabre Steel Inc., MST Steel Corp
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Top Trend - Innovative Strategies In The Rolled And Drawn Steel Market
Major companies in the rolled and drawn steel market are focused on developing steel that is coated, such as antibacterial coating, for enhanced hygiene and to maximize their profits in the market. An antibacterial coating is a protective layer applied to surfaces to inhibit the growth of harmful microorganisms and promote hygiene. For instance, in May 2023, Novolipetsk Steel (NLMK), a Russia-based steel-making company, launched premium rolled steel featuring an antibacterial coating, with initial trials conducted by the company's partners. The coating safeguards the metal from harmful microorganisms, making it suitable for interior surfaces in sectors including food and healthcare industries.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Rolled And Drawn Steel Market Characteristics
3. Rolled And Drawn Steel Market Trends And Strategies
4. Rolled And Drawn Steel Market - Macro Economic Scenario
5. Rolled And Drawn Steel Market Size And Growth
…..
27. Rolled And Drawn Steel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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