Hot-Rolled Steel Coil Market on Track for Strong Growth, Estimated to Grow at 4.3% CAGR Through 2029

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What Is the Expected CAGR for the Hot-Rolled Steel Coil Market Through 2025?
In the past few years, the hot-rolled steel coil market has seen consistent growth. The market size is projected to increase from $189.86 billion in 2024 to $198.67 billion in 2025, representing a 4.6% compound annual growth rate (CAGR). The notable growth witnessed during the historical period results from numerous factors such as the replacement of cold-rolled coils with hot-rolled ones in structural applications, greater acceptance of hot-rolled steel in oil and gas pipeline construction, increased demand within railway and transport infrastructure, heightened implementation in the manufacturing of agricultural equipment, and an upsurge in the utilization of hot-rolled coils in the production of containers and storage tanks.

What's the Projected Size of the Global Hot-Rolled Steel Coil Market by 2029?
The market for hot-rolled steel coil is projected to experience consistent growth over the next several years, reaching a total volume of $234.86 billion by 2029, reflecting a compound annual growth rate (CAGR) of 4.3%. This growth trajectory during the predicted period can be linked to an increase in demand stimulated by construction and infrastructure projects, a surge in the production of automobiles and the adoption of electric vehicles (EVs), improvements in steel manufacturing technology and automation, growing industrialization and urbanization in developing economies, along with supportive government policies and public infrastructure investments. Key market trends during the projection period are expected to be the growing acceptance of electric arc furnace (EAF) technology, the creation of highly durable, lightweight HRSC for use in automobiles and EVs, the application of automation and AI in enhancing production quality control, progress in eco-friendly steel production and carbon-cutting processes, and the growth of digital or e-commerce platforms for distribution expansion.

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Top Growth Drivers in the Hot-Rolled Steel Coil Industry: What's Accelerating the Market?
The growth of the hot-rolled steel coil market is projected to be stimulated by the rising need for construction and infrastructure projects. These projects encompass the creation and implementation of physical structures and systems essential for transportation, utilities, and public services. Increasing urban population and expanding cities necessitate better transportation systems, satisfactory housing, and improved public facilities to cater to burgeoning residential demands. Hot-rolled steel coil is advantageous for construction and infrastructure activities due to its capacity for mass production with consistent dimensions, rendering it ideal for structural requirements needing uniformity and scalability. For example, a report from the Department for Business and Trade, a government department in the UK, revealed that in the first quarter of 2024, the total new construction orders had a 15.9% ($1,926 million (£1,436 million)) boost compared to the last quarter of 2023. This surge in demand for construction and infrastructure projects is hence escalating the growth of the hot-rolled steel coil market.

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What Trends Will Shape the Hot-Rolled Steel Coil Market Through 2029 and Beyond?
Major firms in the hot-rolled steel coil market are focusing on facility expansion in a bid to incorporate new technologies and capabilities while ensuring consistency at the existing sites. Expanding facilities is a method used to broaden an existing location in order to accommodate larger operations or projected future growth. As an illustration in May 2025, Uzmetkombinat, a steel manufacturer from Uzbekistan, commenced operations at its freshly set up hot-rolled steel production facility in Bekabad. This facility expansion allows the new complex to produce over 1 million tons of hot-rolled steel annually, thereby lowering import reliance and boosting export capacity. The continuous production system in this facility enables semi-finished materials to directly advance to the rolling process, eliminating the need for reheating and maximising energy efficiency. Additionally, the facility includes a 120-ton electric arc furnace, a continuous casting system, and a rolling mill for large-scale production. Moreover, the facility incorporates cutting-edge filtration and energy-efficient technologies to limit environmental harm.

What Are the Main Segments in the Hot-Rolled Steel Coil Market?
The hot-rolled steel coil market covered in this report is segmented -

1) By Type: Hot Rolled Coils (Thickness Above 3mm), Hot Rolled Coils (Thickness Below 3mm)
2) By Grade: Low-Carbon Steel, Medium-Carbon Steel, High-Carbon Steel, Alloy Steel
3) By End-Use: Construction And Infrastructure, Oil And Gas Or Energy, Automotive, Industrial Equipment, Shipbuilding And Marine, Other End-Uses

Subsegments:
1) By Hot Rolled Coils (Thickness Above 3mm): Structural Steel Coils, Pressure Vessel Steel Coils, High Strength Low Alloy (HSLA) Coils, Boiler Quality Coils, Shipbuilding Grade Coils
2) By Hot Rolled Coils (Thickness Below 3mm): Commercial Quality Coils, Drawing Quality Coils, Deep Drawing Quality Coils, Automotive Grade Coils, Pipe And Tube Grade Coils

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Which Top Companies are Driving Growth in the Hot-Rolled Steel Coil Market?
Major companies operating in the hot-rolled steel coil market are ArcelorMittal SA, Toyota Tsusho Corporation, Pohang Iron And Steel Company, China Baowu Steel Group Corp., Nippon Steel And Sumitomo Metal Corporation (NSSMC), Baosteel Group Corp. Ltd., ThyssenKrupp AG, Japan Future Enterprise Steel Corporation, Shougang Group, Tata Steel Ltd., United States Steel Corporation, Jindal South West Steel Ltd., Hyundai Steel Co., Hebei Iron And Steel Group, Ternium Group, Ansteel Group, Essar Steel Inc., Novolipetsk Metallurgical Combine Group, Hesteel Group Company Ltd., Jiangsu Shagang Group Co. Ltd., Gerdau S.A., Jindal Stainless Hisar Limited

Which Regions Will Dominate the Hot-Rolled Steel Coil Market Through 2029?
Asia-Pacific was the largest region in the hot-rolled steel coil market in 2024. The regions covered in the hot-rolled steel coil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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