Steel Building Materials Market is Estimated to Reach 998.6 Million by 2027
Steel Building Materials Market is Estimated to Reach 998.6 Million by 2027
The Global Steel Building Materials Market is projected to grow at a moderate CAGR and is estimated to reach 998.6 Million Tons by 2027 between 2020–2027.
Steel is an important material/alloy used in the construction sector for building strong and sustainable infrastructure. Steel is used in architectural cladding, roofing, frame, building foundation, electrical panels, among many other application areas owing to its excellent flexibility, durability, versatility, rigidity, and strength.
Steel Building Materials Market: Drivers & Challenges
Market Driver:
Growing Affluence of Middle Class Population
Globally, increasing disposable income is the prominent factor contributing towards expansion of middle class population. Increasing globalization, changing consumer preference patterns along with ongoing urbanization, favoring towards achieving higher wages than usual, is further supporting the expansion of middle class population. As per European Commission, the middle class population is projected to expand till 5.3 billion by 2030. Increasing middle class population, along with betterment in living standards is prominent contributor in consuming construction products and services, is projected to drive the demand for steel building material.
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Increasing Investment in Construction of Commercial Infrastructure
Ongoing industrialization, an outcome of booming economies worldwide is driving attention towards investment in the commercial infrastructure. Booming construction sector, increase in working population along with increasing Foreign Direct Investment (FDI) for construction of commercial spaces is fueling the growth of this market.
Market Restraint:
Fluctuating Cost of the Raw Materials
The growth of the steel building material market is mainly hampered by fluctuating price of raw materials. Additionally, economic growth, escalating zinc cost, overtakes the product demand from the actual supply pushing cost of steel upwards. Limited amount of resources such as scrap metal and iron ore for production of steel, escalates the overall steel prices due to the demand-supply gap.
Steel Building Materials Market: Key Segments
- Segmentation based on type: Mild Steel, Rebar Steel and Structural Steel
- Segmentation based on application: Structural Sections, Reinforcing Bars, Sheet Products, Non-structural Steel and Others
- Segmentation based on end-users: Residential, Commercial and Industrial
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Steel Building Materials Market: Report Scope
The report on the Steel Building Materials Market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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List of the leading companies operating in the Steel Building Materials Market include:
- ArcelorMittal (Luxembourg) (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- China Baowu Steel Group Corporation Limited (China)
- NIPPON STEEL CORPORATION (Tokyo)
- POSCO (South Korea)
- SHAGANG GROUP Inc. (China)
- China Ansteel Group Corporation Limited (China)
- JFE Steel Corporation (Japan)
- JIANLONG GROUP (China)
- Shougang Group (China)
- Tata Steel (India)
- Nucor Corporation (US)
- Hunan Valin Resources Trading Co., Ltd. (Valin Group) (China)
- Hyundai Steel (South Korea)
- Maanshan Iron & Steel Company Limited (China)
- NLMK (Russia)
- Other Key Companies
Steel Building Materials Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Steel Building Materials Market, by Type
- Mild Steel
- Rebar Steel
- Structural Steel
Steel Building Materials Market, by Application
- Structural Sections
- Reinforcing Bars
- Sheet Products
- Non-structural Steel
- Others
Steel Building Materials Market, by End-user
- Residential
- Commercial
- Industrial
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Steel Building Materials Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Table of Content
- INTRODUCTION
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- GLOBAL Steel Building Materials Market BY TYPE, Market Size in USD Million and Million Tons (2019–2027)
- GLOBAL Steel Building Materials Market BY APPLICATION, Market Size in USD Million and Million Tons (2019–2027)
- GLOBAL Steel Building Materials Market BY AIRCRAFT TYPE, Market Size in USD Million and Million Tons (2019–2027)
- GLOBAL Steel Building Materials Market BY REGION, Market Size in USD Million and Million Tons (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
- APPENDIX
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