Flat Steel Market to Record a Moderate CAGR of 4.6% from 2023-2030; Superior Attributes of Flat Steel Extend Shelf Life and Durability of End-Use Products Fueling Market Expansion

The global flat steel market size was valued at USD 515.6 billion in 2024 and is predicted to reach USD 546.0 billion in 2025. The market is anticipated to touch USD 838.1 billion, recording a CAGR of 6.3% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Flat Steel Market Size, Share & Industry Analysis, By Type (Hot Rolled Coil (HRC), Cold Rolled Coil (CRC), Sheets, and Others), By Application (Construction, Automotive & Transportation, Mechanical Equipment, Energy, Packaging, and Others), and Regional Forecast, 2025-2032”.

Flat steel is a category of steel that is mainly manufactured using scrap steel, iron ore, and coal. It increases the dependability, uniformity, durability, and quality of finished products while minimizing waste. Furthermore, it boosts product performance for consumers and enables smooth processing, improving yield and prolonging product lifespan. These aspects contribute to the demand in the automotive and construction sectors.

The COVID-19 pandemic significantly disrupted supply chains, enforced containment measures, and halted consumption activities, leading to shortages of raw materials and skilled labor. Factory closures resulted in decreased steel production, affecting automotive companies such as Tata Industries, Tesla, and Maruti Suzuki. However, demand in emerging nations rebounded faster than in developed countries, driven by increased steel use in the mechanical sector.

Nippon Steel Corporation Introduced a Warranty Program with a Service Life of 30 Years for ZEXEED

In June 2022, Nippon Steel Corporation introduced a warranty program with a service life of 30 years for ZEXEED, the company's highly resistant coated steel against corrosion-related perforation in products that meet specific criteria. This advancement will enable the company to better meet the needs of its customers.

Wide Applications of Flat Steel to Stimulate Market Growth

Flat steel is commonly utilized in structural components such as beams, columns, and braces because of its remarkable tensile strength, which allows it to carry substantial loads and endure external forces such as wind and seismic activity. It is also frequently used in roofing and cladding for both residential and commercial structures, providing resistance to weather, durability, and visual attractiveness. With a variety of profiles and coatings available, these steel sheets accommodate diverse architectural styles and climates. Moreover, steel panels enhance building facades and curtain walls, adding to the visual appeal while satisfying design requirements. The lightweight characteristic of steel facilitates innovative design possibilities without compromising structural integrity. Flat steel plays a vital role in creating safe, long-lasting, and aesthetically pleasing buildings, with expected advancements in the steel industry likely to stimulate the flat steel market growth.

However, steel prices have experienced substantial rises due to significant shifts in demand and geopolitical factors, which could impede market growth during the projected period.

Companies Focus on Innovation in Products and Making Strategic Acquisitions to Respond to Evolving Market Conditions

Major companies such as ArcelorMittal, POSCO, ThyssenKrupp Steel Europe, Tata Steel, and Nippon Steel Corporation focus on innovation in products, expanding capacity, and making strategic acquisitions. Nippon Steel utilizes both hot and cold-rolled processes to produce a diverse range of steel products and is committed to research and development. Mergers and acquisitions within the steel sector improve efficiencies and production capacities, enabling companies to respond to evolving market conditions.

Notable Industry Development

• April 2021: Nippon Steel Corporation (Nippon Steel) revealed the introduction of its latest product, ZAM-EX, which consists of coated steel sheets with exceptional corrosion resistance aimed at the global market. This new product development is expected to enhance the company's competitiveness in the market.

List of the Companies Profiled in the Report:

• ArcelorMittal (Luxembourg)
• NIPPON STEEL CORPORATION (Japan)
• Ezz Steel (Egypt)
• Tata Steel (India)
• HBIS Group (China)
• Voestalpine Group (Austria)
• ThyssenKrupp Steel Europe (Germany)
• Metals USA (U.S.)
• POSCO (South Korea)
• Yieh Corp. (Taiwan)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/flat-steel-market-102911

Further Report Findings

• The Asia Pacific region accounted for the largest flat steel market share, valued at USD 262.6 billion in 2024. The region's growth in steel technology is influenced by rapid industrialization and advancements. China holds the largest portion of the market, propelled by an increase in steel production and a burgeoning construction sector.
• The North America region is experiencing growth due to rising infrastructure development and the growth of the automotive industry. The U.S. has implemented tariffs to support its domestic steel sector, which is aiding the expansion of companies such as Steel Dynamics.
• In terms of type, the HRC segment is projected to maintain its leadership in the global market in the near future, driven by the growing demand for applications in industries such as agricultural equipment, construction, machinery, and piping.

Table of Segmentation: