The Asia Pacific Cold Rolled Steel Coil Market is projected to witness market growth of 3.4% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 79,863.79 tonnes, showcasing a growth of 22.7% (2020-2023).
Quarter Hard steel is particularly suited for applications that require moderate bending and forming without cracking or compromising the material's integrity. Its mechanical properties make it ideal for manufacturing components such as automotive parts, appliances, and certain construction materials, where a higher degree of hardness than soft annealed steel is needed, but without the brittleness of higher temper levels like Half Hard or Full Hard. Thus, the China market would utilize 5,895.37 tonnes of Quarter Hard steel Coil by 2031.
The China market dominated the Asia Pacific Cold Rolled Steel Coil Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $26.76 millions by 2031. The Japan market is registering a CAGR of 2.7% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 4.1% during (2024 - 2031).
The cold rolled steel coil is a steel product that has undergone the cold rolling process. Cold rolling is a manufacturing method that reduces the thickness and improves the surface finish of steel sheets and strips. The method provides hot-rolled steel with several significant properties by passing it through room-temperature rollers.
Additionally, Cold-rolled steel coils are preferred in the automotive industry due to their high strength-to-weight ratio, allowing manufacturers to produce lighter vehicles without compromising safety and performance. Automakers are increasingly working on reducing vehicle weight to increase fuel efficiency and meet rigorous pollution rules, and cold-rolled steel coils aid in this effort.
India is experiencing growing demand for passenger, commercial, and two-wheelers, driven by rising income levels, urbanization, and infrastructure development. Cold-rolled steel coils are used in manufacturing vehicle bodies, chassis, structural components, and other automotive parts, driving demand for steel in India. The Indian government has announced ambitious targets for electric vehicle adoption to reduce pollution and dependence on fossil fuels. Cold-rolled steel coils produce EV components, including battery casings, chassis, and structural reinforcements, driving demand for steel materials in India.
Quarter Hard steel is particularly suited for applications that require moderate bending and forming without cracking or compromising the material's integrity. Its mechanical properties make it ideal for manufacturing components such as automotive parts, appliances, and certain construction materials, where a higher degree of hardness than soft annealed steel is needed, but without the brittleness of higher temper levels like Half Hard or Full Hard. Thus, the China market would utilize 5,895.37 tonnes of Quarter Hard steel Coil by 2031.
The China market dominated the Asia Pacific Cold Rolled Steel Coil Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $26.76 millions by 2031. The Japan market is registering a CAGR of 2.7% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 4.1% during (2024 - 2031).
The cold rolled steel coil is a steel product that has undergone the cold rolling process. Cold rolling is a manufacturing method that reduces the thickness and improves the surface finish of steel sheets and strips. The method provides hot-rolled steel with several significant properties by passing it through room-temperature rollers.
Additionally, Cold-rolled steel coils are preferred in the automotive industry due to their high strength-to-weight ratio, allowing manufacturers to produce lighter vehicles without compromising safety and performance. Automakers are increasingly working on reducing vehicle weight to increase fuel efficiency and meet rigorous pollution rules, and cold-rolled steel coils aid in this effort.
India is experiencing growing demand for passenger, commercial, and two-wheelers, driven by rising income levels, urbanization, and infrastructure development. Cold-rolled steel coils are used in manufacturing vehicle bodies, chassis, structural components, and other automotive parts, driving demand for steel in India. The Indian government has announced ambitious targets for electric vehicle adoption to reduce pollution and dependence on fossil fuels. Cold-rolled steel coils produce EV components, including battery casings, chassis, and structural reinforcements, driving demand for steel materials in India.
List of Key Companies Profiled
- Tata Steel Limited (TATA Group) (Tata Sons Pvt. Ltd.)
- ArcelorMittal S.A.
- JFE Steel Corporation (JFE Holdings, Inc.)
- Nippon Steel Corporation
- China Steel Corporation
- AK Steel International B.V. (Cleveland-Cliffs Inc.)
- Nucor Corporation
- Hyundai Steel Company (Hyundai Motor Company)
- SSAB AB
- Voestalpine AG
Market Report Segmentation
By Hardness (Volume, Tonnes, USD Million, 2020-2031)- Half-hard
- Full Hard
- Quarter Hard
- Others
- Automotive
- Construction
- Aerospace
- Oil & Gas
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Cold Rolled Steel Coil Market by Hardness
Chapter 5. Asia Pacific Cold Rolled Steel Coil Market by End-User
Chapter 6. Asia Pacific Cold Rolled Steel Coil Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Tata Steel Limited (TATA Group) (Tata Sons Pvt. Ltd.)
- ArcelorMittal S.A.
- JFE Steel Corporation (JFE Holdings, Inc.)
- Nippon Steel Corporation
- China Steel Corporation
- AK Steel International B.V. (Cleveland-Cliffs Inc.)
- Nucor Corporation
- Hyundai Steel Company (Hyundai Motor Company)
- SSAB AB
- Voestalpine AG
Methodology
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