Add 2 More Reports For 20% off

Report Overview

The global flat steel market value reached USD 951.89 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 3.7% to attain a value of USD 1,320.07 billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Flat Steel Market Growth

Global Flat Steel Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 951.89
Market Size 2032 USD Billion 1,320.07
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 3.7%
CAGR 2024-2032 - Market by Region Asia Pacific 4.1%
CAGR 2024-2032 - Market by Country India 4.3%
CAGR 2024-2032 - Market by Country Brazil 4.2%
CAGR 2024-2032 - Market by Product Sheets and Strips 4.4%
CAGR 2024-2032 - Market by Material Stainless Steel 4.7%
Market Share by Country 2023 Germany 4.5%

Flat steel refers to a type of processed metal that is generated by melting and stretching under an applied force. The force is applied to convert metal pieces in the form of sheets, strips, or tin plates. Flat steel is utilised in applications such as fencing, roofing, water tanks, garden sheds, and more. Additionally, carbon steel and alloy steel are key types of flat steel used in the industry, driving the flat steel market demand.

Carbon steel is a steel with carbon content which is used in railway tracks, crankshafts, gears, and machinery parts, whereas alloy steel is used in rods, wires, bars, and rails. For alloy steel, elements like molybdenum, manganese, nickel, and chromium are added to enhance the final product’s strength, wear resistance, and toughness. This process is contributing to the growth of the flat steel industry.

Global Flat Steel Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Flat Steel Market Analysis

The expansion of the global flat steel industry is fuelled by rising steel demand in sectors such as automotive and construction worldwide. Market growth is expected to be supported by increasing consumer demand for automobiles, driven by the growing global population and transportation needs. Additionally, the rising preference for lightweight vehicles, known for their fuel efficiency, is likely to boost the flat steel industry growth.

The flat steel market dynamics and trends are being driven by increased government investments in infrastructure development. The rapidly growing construction sector is expected to boost demand for flat steel in various building and infrastructure projects. Additionally, favourable government initiatives and advancements in flat steel technologies are estimated to boost the growth of the industry. Moreover, recyclability and reusability offered by flat steel are also expected to add to its overall popularity in the coming years.

Flat Steel Industry Outlook

According to the Society of Indian Automobile Manufacturers (SIAM), the domestic sales distribution in India for 2021-22 indicated a strong preference for two-wheelers, which comprised 77% of the market. Passenger vehicles represented 18% of sales, while commercial vehicles made up 4%. Three-wheelers made up 1% of the market, highlighting their particular use in various urban and rural areas. This niche application contributes to flat steel market revenue, as flat steel products like sheets and strips are crucial for manufacturing automotive components such as body panels, chassis, and structural parts.

China led global light vehicle production with a 9.1% increase from 2022 to 2023, reaching nearly 28 million units. The European Union followed, showing an 11.3% growth to approximately 12 million units. Japan saw a significant rise of 17.4%, producing around 7 million vehicles. The United States experienced an 8.5% increase, producing about 7 million cars, indicating stable growth. India's production grew by 6.8%, totalling around 4 million units. South Korea's production climbed by 13.6%, reaching approximately 3 million units. Mexico achieved a 19.0% growth, producing nearly 2 million units. Canada recorded the highest growth rate among the top producers with a 23.4% increase, producing over 1 million vehicles.

Germany led EU car production in 2023 with 3,959,322 units, reflecting an 18.7% increase from 2022. Spain produced 1,869,988 units, marking a 7.4% rise, while Czechia's output grew by 14.9% to 1,395,211 units. Slovakia's production increased by 9.5%, reaching 1,062,058 units. France's car production saw a modest 1.2% growth to 959,404 units, maintaining stable performance. Italy experienced a significant increase of 11.9%, producing 542,218 vehicles. Hungary's production also grew substantially by 11.6%, reaching 504,907 units. Belgium recorded an impressive growth of 18.1%, with 287,211 units produced. Sweden experienced a 9.8% rise in car production, reaching 276,070 units. Overall, car production in the European Union grew by 11.3%, with total units increasing from 10,896,821 in 2022 to 12,126,604 in 2023. This growth is boosting the flat steel industry revenue, as the EU automotive sector's emphasis on innovation and sustainability drives higher demand for high-quality flat steel.

Flat steel products are essential for construction and infrastructure, driving consistent flat steel demand growth.

  • Used in various industries, including automotive, appliances, and machinery, enhancing market reach.
  • Innovations in manufacturing processes improve quality and efficiency, attracting more buyers.

Fluctuating raw material costs can impact profit margins and market stability.

  • Strict environmental laws and regulations may increase production costs.
  • Intense competition among global producers can pressure prices and profit margins.

Increased investment in infrastructure development boosts demand for flat steel products.

  • Expanding markets in developing countries offer growth potential.
  • Adoption of eco-friendly manufacturing processes can enhance opportunities in the flat steel market.

Economic slowdowns can reduce demand for construction and manufacturing, impacting sales.

  • Tariffs and trade restrictions can affect international market access and supply chains.
  • Limited availability of key raw materials can disrupt production and increase costs.

Key Players in the Global Flat Steel Market and Their Key Initiatives

ArcelorMittal

  • Launched the XCarb initiative to promote carbon-neutral steel production to meet the growing demand of the flat steel market. 
  • Commissioned the Torero plant in Belgium.

PT KRAKATAU NIPPON STEEL SUMIKIN (KNSS)

  • Increased production capacity for high-strength automotive steel sheets. 
  • Opened a new Galvanizing, Annealing and Processing Line (GAPL) plant in Cilegon.

Baosteel Group Corporation

  • Committed to premiumisation, smart, and green production. 
  • Partnered with Aramco and PIF. 

Tata Steel Limited

  • Acquired Neelachal Ispat Nigam Limited to capture the flat steel market opportunities. 
  • Invested £1.25 billion in Electric Arc Furnace technology at Port Talbot, UK.

Global Flat Steel Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Flat Steel Industry Segmentation

“Global Flat Steel Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

  • Sheets and Strips
  • Plates

Market Breakup by Material

  • Carbon Steel
  • Alloy Steel
  • Stainless Steel
  • Tool Steel

Market Breakup by Application

  • Building and Infrastructure
  • Automotive and Other Transport
  • Mechanical Equipment
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
CAGR 2024-2032 - Market by Country
India 4.3%
Brazil 4.2%
China 4.0%
Mexico 3.9%
Canada 3.8%
USA XX%
UK 3.6%
France XX%
Italy XX%
Japan XX%
Australia XX%
Saudi Arabia XX%
Germany 3.3%

Flat Steel Market Share

The growth of the flat steel industry is driven by the versatility of sheets and strips, which are used in diverse sectors such as automotive and construction. Their customisable thickness and coating options make them adaptable to specific requirements, while their cost-effective production supports market expansion.

Plates, on the other hand, are known for their strength and durability, suitable for heavy-duty applications in construction and shipbuilding. They provide outstanding structural support and stability, enhancing safety and durability. Furthermore, plates are available in different grades and thicknesses, making them customisable for various needs, from structural strength to high-pressure applications, which further drives the flat steel market demand.

Global Flat Steel Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Leading Companies in the Flat Steel Market

The company’s focus is on manufacturing premium flat steel products, catering to various industries with cutting-edge technology and dependable solutions.

  • ArcelorMittal 
  • PT KRAKATAU NIPPON STEEL SUMIKIN (KNSS) 
  • Baosteel Group Corporation 
  • Tata Steel Limited 
  • JFE Steel Corporation

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!

Key Questions Answered in the Report

In 2023, the global flat steel market attained a value of nearly USD 951.89 billion.

The market is projected to grow at a CAGR of nearly 3.7% in the forecast period of 2024-2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 1,320.07 billion by 2032.

The major market drivers are the rising demand for flat steel products, increasing demand for flat steel in the automobile sector, and rising government investments in infrastructure development activities.

The key trends guiding the market include the surging demand for flat steel in the construction sector and technological advancements and innovations.

The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The market is broken into are sheets and strips and plates.

Carbon steel, alloy steel, stainless steel, and tool steel are the various materials of flat steel considered in the market report.

The market is broken down into building and infrastructure, automotive and other transport, mechanical equipment, and others.

The competitive landscape consists of ArcelorMittal, PT KRAKATAU NIPPON STEEL SUMIKIN (KNSS), Baosteel Group Corporation, Tata Steel Limited, and JFE Steel Corporation, among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Material
  • Application
  • Region
Breakup by Product
  • Sheets and Strips
  • Plates
Breakup by Material
  • Carbon Steel
  • Alloy Steel
  • Stainless Steel
  • Tool Steel
Breakup by Application
  • Building and Infrastructure
  • Automotive and Other Transport
  • Mechanical Equipment
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ArcelorMittal
  • PT KRAKATAU NIPPON STEEL SUMIKIN (KNSS)
  • Baosteel Group Corporation
  • Tata Steel Limited
  • JFE Steel Corporation
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

We’re here to help answer any questions about our products and services.

Contact us

Our Offices


Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124