Coated Steel Market Size was valued at USD 21.8 Billion in 2022 and is projected to reach USD 33.81 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00%
The market expansion for coated steel is being hampered by the fluctuating price of raw materials. The market was impacted by the unfavourable circumstances brought on by the covid-19 outbreak, but it was predicted that it would recover in the anticipated time frame. The domestic and electrical appliance industries’ growing demands are the primary driver of the coated steel market. Over the course of the forecast, the use of building and construction components is anticipated to dominate the global coated steel market. Steel that has been coated is recognised as the best and most efficient way to protect it from corrosive environments.
Regional Analysis :
The market in Asia-Pacific accounted for the highest proportion of the global coated steel market in 2017, and it is anticipated that throughout the review period, it will grow at a faster rate. The demand for the product is being driven by the region’s expanding infrastructure projects as well as the desire for economically viable and aesthetically appealing building materials for use in both interior and exterior applications. The demand for coated steel is anticipated to be driven by the region’s expanding automotive industry as well as the region’s expanding automotive aftermarket. In addition, the ASEAN region’s electrical and electronics industry is expanding rapidly, which is anticipated to drive coated steel demand throughout the projection period.
Due to the region’s abundance of automotive OEMs and the region’s recovering steel demand from a variety of end users, the European market is also anticipated to expand.
Due to the increasing demand for coated steel in important end-use industries like construction and automotive, the North American market is anticipated to experience a healthy CAGR.
Due to the expanding automotive industry and rising consumer goods demand, the Latin American market is anticipated to experience significant growth. Due to the region’s increasing industrialization and construction, the Middle East & Africa market is predicted to grow significantly during the review period.
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Market Segmentation :
The market for coated steel has been divided into segments based on type, type of coating, end-use sector, and region.
The global market has been divided into metallic-coated steel and color-coated steel based on type.
The polyester, polyvinylidene fluoride, epoxy, polyvinyl chloride, polyurethane, pure aluminium, aluminum-zinc, pure zinc, and other coating types are available on the global market according to coating type. The polyester market is further classified into three categories: ordinary modified polyester, silicone modified polyester, and polyester with extremely high durability.
The global market has been divided into building and construction, automotive, electrical and electronics, industrial machinery, consumer goods, and others based on end-use industry.
Five regions have been studied in relation to the global coated steel market: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players :
JSW (India), ArcelorMittal (Luxembourg), SSAB (Sweden), POSCO (South Korea), JFE Steel Corporation (Japan), NLMK (Russia), NIPPON STEEL & SUMITOMO METAL CORPORATION (Japan), Essar (India), Tata Steel (India), ThyssenKrupp AG (Germany), Salzgitter Flachstahl GmbH (Germany) and Uttam Galva Steels Limited (India)
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