Construction Industry Expansion Fuels Growth In The Flat Steel Market Emerges as a Core Driver of the Flat Steel Market in 2025

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What Is the Expected CAGR for the Flat Steel Market Through 2025?
The growth of the flat steel market has been consistent over the past few years. The market value is projected to rise from $602.3 billion in 2024 to $626.97 billion in 2025, with a compound annual growth rate (CAGR) of 4.1%. The historic increase is due to the expansion in construction and infrastructure, the automobile industry, the manufacturing and machinery sector, shipbuilding operations, and consumer goods manufacturing.

What's the Projected Size of the Global Flat Steel Market by 2029?
In the succeeding years, a significant increase is anticipated in the flat steel market size, which is projected to reach $796.94 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%. The surge during the forecast period can be linked to trends in global urbanization, renewed investments in infrastructure, innovations in the automotive industry, and a rise in renewable energy projects. The forecast period also sees a growing focus on sustainable and recyclable flat steel, custom-tailored flat steel products, an enhanced role for digitization in managing supply chains, and the impact of industry 4.0 on flat steel production.

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Top Growth Drivers in the Flat Steel Industry: What's Accelerating the Market?
The flat steel market is projected to expand along with the growth of the construction industry in the foreseeable future. Defined as the economic sector responsible for the design, planning, construction, and maintenance of structures and infrastructure, the construction industry includes operations ranging from residential to commercial, industrial, and civil engineering projects. Flat steel, being a fundamental component in the construction of structural elements such as beams, columns, and girders, offers necessary strength and load-bearing capabilities, ideal for supporting structures such as buildings and bridges. In 2022, the construction industry in the United States grew from $1.916 trillion in 2021 to $2.016 trillion, as reported by the Bureau of Economic Analysis (BEA), a U.S. government statistics organization. As such, the expansion of the construction industry propels the growth of the flat steel market.

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What Trends Will Shape the Flat Steel Market Through 2029 and Beyond?
Leading enterprises in the flat steel industry are focusing on developing innovative new products, such as color steel sheets, to maintain their market standing. Color steel sheets are adaptable, pre-coated metal sheets that are utilized in construction and manufacturing for applications like roofing, siding, and decoration, and they come in a variety of colors and finishes. For instance, Jindal India Limited, a steel product manufacturer based in India, unveiled NEUCOLOR+ premium color steel sheets in June 2023. These sheets are formulated to be a high-quality solution with a 15-year warranty, guaranteeing durability and long life for roofing and cladding uses. This product launch is a significant accomplishment for Jindal India Limited, signifying the company's commitment to innovation and customer fulfillment.

What Are the Main Segments in the Flat Steel Market?
The flat steel market covered in this report is segmented -

1) By Product: Sheet And Strips, Plates
2) By Material: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel
3) By Process: Basic Oxygen Furnace, Electric Arc Furnace
4) By End User: Building And Infrastructure, Mechanical Equipment, Automotive And Other Transport, Other End Users

Subsegments:
1) By Sheets And Strips: Hot Rolled Sheets And Strips, Cold Rolled Sheets And Strips, Galvanized Sheets And Strips, Coated Sheets And Strips
2) By Plates: Hot Rolled Plates, Cold Rolled Plates, Alloy Plates, Stainless Steel Plates

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Which Top Companies are Driving Growth in the Flat Steel Market?
Major companies operating in the flat steel market include ArcelorMittal S.A., POSCO Holdings Inc, Ansteel Group Corporation Limited, Nippon Steel Corporation, HBIS Group, Jiangsu Shagang Group Company Limited, Nucor Corporation, ThyssenKrupp AG, JFE Steel Corporation, Tata Steel Limited, Angang Steel Company Limited, Shougang Group Co. Ltd., JSW Steel, United States Steel Corporation, Novolipetsk Steel, Voestalpine AG, Hyundai Steel Company, Evraz Group S.A., Gerdau S.A., Steel Authority of India Limited, SSAB AB, Severstal, Outokumpu, Allegheny Technologies, Ezz Steel, Metals USA Holdings, Acerinox, Essar Steel, Yieh Corp.

Which Regions Will Dominate the Flat Steel Market Through 2029?
Asia-Pacific was the largest region in the flat steel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flat steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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