Structural Steel Market, Demand In-Depth sight Report, Key Developments, Top Competitors by Fact MR

0
4KB

The global structural steel market is anticipated to expand at a CAGR of 4.8% from 2023 to 2033, reaching a valuation of US$ 166 billion by the end of 2033. Further, the valuation of the global structural steel market is US$ 103.8 billion in 2023.

Structural Steel Market Overview

The global structural steel market is projected to grow at a CAGR of 4.8% from 2023 to 2033, reaching a value of $166 billion by 2033. Structural steel is extensively used in construction due to its high strength, recyclability, and adaptability. Demand is driven by rapid urbanization and industrialization, particularly in non-residential construction sectors like commercial buildings, factories, and bridges.

Key Players

Major companies include:

  • Anshan Iron & Steel Group Corporation
  • JSW Steel Limited
  • Hyundai Steel Co.
  • Hebei Steel Group
  • Baosteel Group Corporation

These firms are heavily investing in supply chain expansion, technological upgrades, and sustainability initiatives, such as zero-carbon emission plants and new product development. For example, Nippon Steel's acquisition of Essar Steel and ArcelorMittal’s sustainable steel production ventures highlight the market’s focus on innovation and expansion.

Future Opportunities

Structural steel's role in green construction is growing as it is 100% recyclable and key to reducing environmental impacts. The market for green buildings certified by LEED is increasing, driving demand for sustainable materials like structural steel. Additionally, government infrastructure projects, particularly in Asia-Pacific, and innovations in high-strength, low-alloy steel present new growth opportunities.

Market Analysis

The non-residential sector, accounting for over 52% of revenue, dominates the market, driven by increased investments in hospitals, airports, data centers, and manufacturing facilities. The residential sector is also growing at a 5.1% CAGR, bolstered by structural steel’s use in high-rise buildings. Regional analysis shows Asia-Pacific leading the market, with rapid industrial growth and increased construction activities in China and India.

Latest Industry News

Key industry developments include:

  • ArcelorMittal's zero-carbon plant upgrade in Spain
  • POSCO's launch of its premium INNOVILT brand
  • Mergers such as Nippon Steel and ArcelorMittal’s acquisition of Essar Steel

These initiatives underscore a strong industry focus on sustainability and technological advancements, positioning structural steel as a critical material for future construction needs.

Read More -

The global stone paper market is set to estimate a valuation of US$ 972.6 million in 2023 and it is estimated to grow at a CAGR of 8.0% to reach US$ 2,096.9 million by the end of 2033.

The global vehicle roadside assistance market is estimated to expand at a CAGR of 4.8% from 2023 to 2033. The market is valued at US$ 25 billion in 2023 and is expected to reach US$ 40 billion by the end of 2033.

Revenue from the global worm reduction gearbox market is estimated at US$ 2.35 billion in 2024 and has been forecasted to rise at 5.8% CAGR over the next ten years to increase to US$ 4.13 billion by the end of 2034.

The global load break switches market is valued at US$ 2.4 billion in 2023 and is projected to reach US$ 4.1 billion by 2033, expanding at a CAGR of 5.5% over the next ten years.

Presently, the global market for oleoresins stands at a value of US$ 1.5 billion and is predicted to surpass US$ 2.5 billion in sales revenue by the end of 2032. This is because worldwide demand for oleoresins is slated to increase at 6% CAGR from 2022 to 2032

 

Rechercher
Catégories
Lire la suite
Jeux
Unlock Exclusive Rewards at the Monopoly GO Gold Card Event: Collect Stickers and Win Big!
Unlock Exclusive Rewards at the Monopoly GO Gold Card Event: Collect Stickers and Win Big! The...
Par Casey 2025-01-12 13:59:10 0 2KB
Literature
Rummy Nabob
Rummy Nabob APK: A Complete Review Introduction The rise of mobile gaming has sparked a...
Par chm123 2024-09-14 03:21:31 0 3KB
Food
Skirted Hovercrafts Market:
Skirted Hovercrafts Market: Revolutionizing Transport with Versatile All-Terrain Vehicles The...
Par balajikal 2024-12-07 07:40:56 0 2KB
Jeux
Die besten Spielerpreise in EA FC 25: So kaufen Sie die Top-Spieler!
Die besten Spielerpreise in EA FC 25 In der aufregenden Welt von EA FC 25 ist es für...
Par Casey 2024-11-03 23:32:26 0 2KB
Jeux
YYGames:暢玩娛樂,盡享無限樂趣!
在如今的數位娛樂時代,線上遊戲不僅是娛樂消遣的主要方式,還成為了全球玩家交流互動的平台。YYGames作為領先的線上遊戲平台,以其豐富的遊戲選擇和極致的遊戲體驗,贏得了大量玩家的青睞。不論是競技...
Par Jhony89 2025-04-21 09:23:53 0 1KB