The Western U.S. flat steel market size is expected to reach USD 42.31 billion by 2030, expanding at a CAGR of 5.6% over the forecast period. The growth of the industry is attributed to the rising infrastructural developments in the Western U.S. states, which in turn are boosting the demand for flat steel products in construction-related applications.
Flat steel is obtained after rolling steel slabs. Based on product, the market is segmented into HRC, CRC, coated steel, and others and in terms of volume, HRC dominates the market. Its low cost and high strength nature make it useful in applications such as structures, closed sections, pipes, and enclosures in construction, automotive, railways, machinery, shipbuilding, and other end-use industries.
Based on application, the market is segmented into building & construction, automotive & transportation, machinery & equipment, energy, and others. The automotive & transportation segment is anticipated to witness rapid growth owing to the recent developments in transportation facility projects along with rising investments in the automotive sector in the Western U.S. region.
For instance, in February 2022, Ford Motor Company announced its plan to invest USD 20.0 billion in developing EVs. The company has planned to invest USD 50.0 billion in the EV business by 2027 to compete with the market players and aims to manufacture 20.0 million EVs annually by 2026.
The market is competitive in nature due to the presence of various small and established players. Furthermore, the shifting focus of steel companies toward a sustainable future has led them to adopt new technologies to optimize their production processes with improved efficiency and capacity enhancements. For instance, in January 2022, the United States Steel Corporation announced the allocation of USD 3.00 billion for its new advanced mill equipped with next-generation sustainable technology. It is located in Arkansas, Osceola near the Big River Steel plant of the company.
Flat steel is obtained after rolling steel slabs. Based on product, the market is segmented into HRC, CRC, coated steel, and others and in terms of volume, HRC dominates the market. Its low cost and high strength nature make it useful in applications such as structures, closed sections, pipes, and enclosures in construction, automotive, railways, machinery, shipbuilding, and other end-use industries.
Based on application, the market is segmented into building & construction, automotive & transportation, machinery & equipment, energy, and others. The automotive & transportation segment is anticipated to witness rapid growth owing to the recent developments in transportation facility projects along with rising investments in the automotive sector in the Western U.S. region.
For instance, in February 2022, Ford Motor Company announced its plan to invest USD 20.0 billion in developing EVs. The company has planned to invest USD 50.0 billion in the EV business by 2027 to compete with the market players and aims to manufacture 20.0 million EVs annually by 2026.
The market is competitive in nature due to the presence of various small and established players. Furthermore, the shifting focus of steel companies toward a sustainable future has led them to adopt new technologies to optimize their production processes with improved efficiency and capacity enhancements. For instance, in January 2022, the United States Steel Corporation announced the allocation of USD 3.00 billion for its new advanced mill equipped with next-generation sustainable technology. It is located in Arkansas, Osceola near the Big River Steel plant of the company.
Western U.S. Flat Steel Market Report Highlights
- Based on product, CRC held a revenue share of more than 36.0% in 2022. The share is attributed to growing consumer preference for superior quality, strength, and smooth finish in end-use products. The demand for precision steel from automotive is increasing, which is benefitting segment growth
- Based on application, the building & construction is anticipated to register a CAGR of 6.0%, in terms of revenue, during the forecast period. The growth is attributed to the increasing contribution of the construction industry to GDP in Western states of the U.S.
- The Western U.S. flat steel industry is fragmented with the presence of various prominent players in the market such as California Steel Industries, Steel Dynamics, U.S. Steel Corp, Commercial Metals Company, and Steelco USA
- The market is integrated across certain stages of the value chain. For instance, Clevelands-Cliffs Inc. is engaged in the production of ferrous scrap, which is further utilized in the manufacturing of finished steel products
- Ferrous scrap is one of the key raw materials for the market, which has witnessed price-hike in recent years owing to its growing demand in green steel and EAF route.
Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.4.1. Data Analysis Models
1.4.2. Market Formulation & Data Visualization
1.4.3. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. U.S. Steel Industry Trends
3.1.2. Western U.S. Flat Steel - Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.3.1. Raw Material Trends
3.4. Regulatory Framework
3.5. Technology Trends
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Market Opportunities
3.6.4. Industry Challenges
3.7. Industry Analysis- Porter’s Five Forces
3.8. PESTEL Analysis
Chapter 4. Western U.S. Flat Steel Market: Product Estimates & Trend Analysis
4.1. Definition & Scope
4.2. Product Movement Analysis & Market Share, 2022 & 2030
4.3. Hot Rolled Coil
4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.4. Cold Rolled Coil
4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.5. Coated Steel
4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.6. Others
4.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Western U.S. Flat Steel Market: Application Estimates & Trend Analysis
5.1. Definition & Scope
5.2. Application Movement Analysis & Market Share, 2023 & 2030
5.3. Building & Construction
5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4. Automotive & Transportation
5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5. Machinery & Equipment
5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6. Energy
5.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.7. Others
5.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Competitive Analysis
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Market Ranking
6.3. Heat Map Analysis
6.4. Vendor Landscape
6.4.1. List of Prospective End-Users
6.4.2. List of Raw Material Suppliers
6.4.3. List of Distributors
6.4.4. List of Other Prominent Manufacturers
6.5. Strategy Mapping
6.6. Company Profiles/Listings
6.6.1. California Steel Industries
6.6.1.1. Company Overview
6.6.1.2. Product Benchmarking
6.6.1.3. Strategic Initiatives
6.6.2. Commercial Metals Company
6.6.2.1. Company Overview
6.6.2.2. Financial Performance
6.6.2.3. Product Benchmarking
6.6.2.4. Strategic Initiatives
6.6.3. Steel Dynamics
6.6.3.1. Company Overview
6.6.3.2. Financial Performance
6.6.3.3. Product Benchmarking
6.6.3.4. Strategic Initiatives
6.6.4. United States Steel Corporation
6.6.4.1. Company Overview
6.6.4.2. Financial Performance
6.6.4.3. Product Benchmarking
6.6.4.4. Strategic Initiatives
6.6.5. Phoenix Steel Service, Inc.
6.6.5.1. Company Overview
6.6.5.2. Financial Performance
6.6.5.3. Product Benchmarking
6.6.5.4. Strategic Initiatives
6.6.6. Rolled Steel Products Corporation
6.6.6.1. Company Overview
6.6.6.2. Product Benchmarking
6.6.6.3. Strategic Initiatives
6.6.7. Steelco USA
6.6.7.1. Company Overview
6.6.7.2. Product Benchmarking
6.6.7.3. Strategic Initiatives
List of Tables
Table 1 Western U.S. flat steel market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
Table 2 Western U.S. flat steel market estimates and forecasts, by hot rolled coil, 2018 - 2030 (USD Million) (Kilotons)
Table 3 Western U.S. flat steel market estimates and forecasts, by cold rolled coil, 2018 - 2030 (USD Million) (Kilotons)
Table 4 Western U.S. flat steel market estimates and forecasts, by coated steel, 2018 - 2030 (USD Million) (Kilotons)
Table 5 Western U.S. flat steel market estimates and forecasts, by other products, 2018 - 2030 (USD Million) (Kilotons)
Table 6 Western U.S. flat steel market estimates and forecasts, by building & construction, 2018 - 2030 (USD Million) (Kilotons)
Table 7 Western U.S. flat steel market estimates and forecasts, by automotive & transportation, 2018 - 2030 (USD Million) (Kilotons)
Table 8 Western U.S. flat steel market estimates and forecasts, by machinery & equipment, 2018 - 2030 (USD Million) (Kilotons)
Table 9 Western U.S. flat steel market estimates and forecasts, by energy, 2018 - 2030 (USD Million) (Kilotons)
Table 10 Western U.S. flat steel market estimates and forecasts, by others, 2018 - 2030 (USD Million) (Kilotons)
List of Figures
Fig. 1. Western U.S. flat steel market segmentation
Fig. 2. Market snapshot, 2022
Fig. 3. Segment outlook
Fig. 4. Competitive outlook
Fig. 5. U.S. crude steel production and ferrous scrap demand, 2022 (Million Tons)
Fig. 6. U.S. crude steel production, by route, 2022 (%)
Fig. 7. Western U.S. flat steel market, 2018 - 2030 (USD Million) (Kilotons)
Fig. 8. Penetration & growth prospect mapping, by application
Fig. 9. Value chain analysis
Fig. 10. U.S. iron ore production volume, (2017-21) (Million Tons)
Fig. 11. Market dynamics
Fig. 12. EV registrations in the U.S. state-wise, 2021
Fig. 13. Porter’s Analysis
Fig. 14. PESTEL Analysis
Fig. 15. Western U.S. flat steel market, by product: Key takeaways
Fig. 16. Western U.S. flat steel market, by product: Market share, 2022 & 2030
Fig. 17. Western U.S. flat steel market, by application: Key takeaways
Fig. 18. Western U.S. flat steel market, by application: Market share, 2022 & 2030
Companies Mentioned
- California Steel Industries
- Commercial Metals Company
- Steel Dynamics
- United States Steel Corporation
- Phoenix Steel Service, Inc.
- Rolled Steel Products Corporation
- Steelco USA
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 70 |
| Published | February 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 27.31 Billion |
| Forecasted Market Value ( USD | $ 42.31 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | United States |
| No. of Companies Mentioned | 7 |
