Rolled And Drawn Steel Market: Major Trends Reshaping the Future of the Industry

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What Will the Rolled And Drawn Steel Industry Market Size Be by 2025?
The market for rolled and drawn steel has been experiencing steady growth in the past few years. The market is set to expand from $246.96 billion in 2024 to $257.98 billion in 2025, implying a compound annual growth rate (CAGR) of 4.5%. The historical growth of this market is associated with factors like industrialization and infrastructure growth, the surge of the automobile industry, the overall global economic growth, urbanization trajectories, and development in the energy sector.

What's the Long-Term Growth Forecast for the Rolled And Drawn Steel Market Size Through 2029?
Expectations are that the rolled and drawn steel market size will experience consistent growth in the coming years. The market valuation is projected to reach $311.55 billion in the year 2029, escalating at a compound annual growth rate (CAGR) of 4.8%. Factors contributing to the growth during the forecast period encompass the development of renewable energy infrastructure, expansion of electric vehicles (EV), emphasis on sustainable construction, evolution of smart cities, and the integration of IoT, as well as more restrictive environmental regulations. The forecast period will also witness key trends such as investments in infrastructure, innovations in steel processing technology, advancements in steel production technology, integration with industry 4.0 and the digitization of supply chains.

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What Are the Key Growth Drivers Fueling the Rolled And Drawn Steel Market Expansion?
The upsurge in the global automotive industry is set to drive the expansion of the market for rolled and drawn steel in the upcoming era. The burgeoning automotive sector augments the demand for auto parts to preserve the vehicle's internal and external appearance, enhance its lifespan, and maintain its pristine quality, thereby boosting the demand for rolled and drawn steel. For example, as reported by Marklines Co., a Japanese advertising company, in December 2023, total car sales in the United States for 2023 stood at 15,608,386 units, marking a 12.3% rise from 13,905,195 units in 2022. Hence, this uptick in the automotive industry will spur the growth of the rolled and drawn steel market.

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Which Fast-Growing Trends Are Poised to Disrupt the Rolled And Drawn Steel Market?
The primary trend gaining traction in the rolled and drawn steel market is product innovation. Major players in this market are concentrating on the creation of novel products to solidify their market standing. For example, in September 2022, United States Steel Corporation, a firm based in the US, introduced ZMAG coated steel. This product, thanks to its zinc-aluminum-magnesium coating, is better suited to withstand environmental conditions, making it ideal for use in the solar, automotive, and construction industries. The ZMAG coated steel is produced using verdeX steel, which includes up to 90% recycled steel content.

How Is the Rolled And Drawn Steel Market Segmented?
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

Subsegments:
1) By Color Coated Coil: Pre-Painted Galvanized Steel, Pre-Painted Aluminum
2) By Continuous Hot Dip Galvanized Steel Coil: Electro-Galvanized Steel, Hot-Dip Galvanized Steel
3) By Carbon Structural Steel Cold Rolled Coils: Cold Rolled Carbon Steel Sheets, Cold Rolled Carbon Steel Strips
4) By Deep Drawing Cold Rolled Coils: Deep Drawing Quality Sheets, Deep Drawing Quality Strips

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Which Companies Are Leading the Charge in Rolled And Drawn Steel Market Innovation?
Major companies operating in the rolled and drawn steel market include 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, MST Steel Corp

Which Regions Are Leading the Global Rolled And Drawn Steel Market in Revenue?
Asia-Pacific was the largest region in the rolled and drawn steel market in 2024. The regions covered in the rolled and drawn steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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