The global structural steel market was valued at $ 106.37 billion in 2022, and is projected to reach $ 177.43 billion by 2032, registering a CAGR of 5.3% from 2023 to 2032.
Structural steel is a type of steel used in construction for creating load-bearing structures. It is a versatile and widely used material due to its high strength, durability, and flexibility in design.
According to the World Green Building Council, LEED-certified buildings consume 11% less water and 25% less energy in the U.S. Considering of its recyclability, structural steel is regarded as a green construction material, and an increase in the number of green buildings is expected to drive market development in the future. Green buildings assist in preventing negative environmental consequences, thus there is a growing emphasis on their construction throughout the country. California has the largest part of the entire green construction segment in the U.S., in terms of area, and the state is expected to attain zero net energy by 2030.
Some significant factors that impact the growth of the global Structural Steel market include, increase in construction and infrastructure activities in developed nations. Another significant driver of the structural steel industry is the growing number of high-rise structures being constructed. The product has a high strength-to-weight ratio, allowing it to withstand huge loads while resisting compression, tension, and bending forces, making it a suitable material for bearing the weight of tall structures and transmitting the load to the base. Moreover, a rise in demand for strong and advanced steel material in construction sector is expected to provide future growth opportunities in the market.
The heavy sectional steel sector has gained in popularity owing to its strength, load-bearing capacity, and ability to withstand massive loads while retaining structural stability. It is commonly employed in circumstances where structural integrity and durability are critical. Their cylindrical design offers high strength-to-weight ratios, making them suitable for multi-axis loading applications.
Structural steel structures have greater maintenance costs than conventional buildings. For instance, if a steel column is broken, the entire column must be replaced, whereas traditional columns may be repaired using certain processes. Similarly, steel buildings require anti-rusting coatings and paint more frequently to avoid rust. These anti-rust coatings and paints raise the cost of maintaining steel structures, stifling the structural steel market's growth. For Instance, In July 2021, British Steel Introduces Weathering Steel Structural Sections for Construction, which are self-protecting, robust, and beautiful. Weathering steel is suitable for a wide range of outdoor constructions in exposed places, including bridges, buildings, and catenary gantries on railway lines. Hence such factors are providing lucrative growth in the market.
The structural steel market is segmented on the basis of product type, type, application, and region. By product type, the market is categorized into high sectional steel, light sectional steel, and rebar. Depending on type, it is fragmented into hot-rolled steel, and cold-rolled steel. On the basis of application, it is categorized into residential, and non-residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Structural steel is a type of steel used in construction for creating load-bearing structures. It is a versatile and widely used material due to its high strength, durability, and flexibility in design.
According to the World Green Building Council, LEED-certified buildings consume 11% less water and 25% less energy in the U.S. Considering of its recyclability, structural steel is regarded as a green construction material, and an increase in the number of green buildings is expected to drive market development in the future. Green buildings assist in preventing negative environmental consequences, thus there is a growing emphasis on their construction throughout the country. California has the largest part of the entire green construction segment in the U.S., in terms of area, and the state is expected to attain zero net energy by 2030.
Some significant factors that impact the growth of the global Structural Steel market include, increase in construction and infrastructure activities in developed nations. Another significant driver of the structural steel industry is the growing number of high-rise structures being constructed. The product has a high strength-to-weight ratio, allowing it to withstand huge loads while resisting compression, tension, and bending forces, making it a suitable material for bearing the weight of tall structures and transmitting the load to the base. Moreover, a rise in demand for strong and advanced steel material in construction sector is expected to provide future growth opportunities in the market.
The heavy sectional steel sector has gained in popularity owing to its strength, load-bearing capacity, and ability to withstand massive loads while retaining structural stability. It is commonly employed in circumstances where structural integrity and durability are critical. Their cylindrical design offers high strength-to-weight ratios, making them suitable for multi-axis loading applications.
Structural steel structures have greater maintenance costs than conventional buildings. For instance, if a steel column is broken, the entire column must be replaced, whereas traditional columns may be repaired using certain processes. Similarly, steel buildings require anti-rusting coatings and paint more frequently to avoid rust. These anti-rust coatings and paints raise the cost of maintaining steel structures, stifling the structural steel market's growth. For Instance, In July 2021, British Steel Introduces Weathering Steel Structural Sections for Construction, which are self-protecting, robust, and beautiful. Weathering steel is suitable for a wide range of outdoor constructions in exposed places, including bridges, buildings, and catenary gantries on railway lines. Hence such factors are providing lucrative growth in the market.
The structural steel market is segmented on the basis of product type, type, application, and region. By product type, the market is categorized into high sectional steel, light sectional steel, and rebar. Depending on type, it is fragmented into hot-rolled steel, and cold-rolled steel. On the basis of application, it is categorized into residential, and non-residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competition Analysis
Key companies profiled in the structural steel industry include Arcelor Mittal S.A., Baogang Group, Evraz plc, Gerdau S.A, Nippon Steel Corporation, JSW Steel Limited, Tata Steel Limited, SAIL, Wuhan Iron & Steel (Group) Corp and Baosteel Group Corporation.Key Benefits for Stakeholders
- The report provides an extensive analysis of the current and emerging Structural Steel market trends and dynamics.
- In-depth Structural Steel market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
- Extensive analysis of the Structural Steel market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global Structural Steel market forecast analysis from 2022 to 2032 is included in the report.
- The key players within the structural steel market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the Structural Steel industry.
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- Reimbursement Scenario
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Product Type
- High Sectional steel
- Light Sectional Steel
- Rebar
By Type
- Hot-Rolled Steel
- Cold-Rolled Steel
By Application
- Residential
- Non-residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Nigeria
- Rest Of Mea
Key Market Players
- Arcelor Mittal
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: STRUCTURAL STEEL MARKET, BY PRODUCT TYPE
CHAPTER 5: STRUCTURAL STEEL MARKET, BY TYPE
CHAPTER 6: STRUCTURAL STEEL MARKET, BY APPLICATION
CHAPTER 7: STRUCTURAL STEEL MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Arcelor Mittal
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 254 |
| Published | January 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 106.37 billion |
| Forecasted Market Value ( USD | $ 177.43 billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
