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Global Structural Steel Market: By Application: Non-Residential, Residential; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand, EMR’s Key Indicators for Price; Competitive Landscape; Industry Events and Developments

Global Structural Steel Market Outlook

The global structural steel market stood at a value of around USD 96 billion in 2020. The market is further expected to grow at a CAGR of 5.70% in the forecast period of 2023-2028 to attain a value of USD 134 billion by 2026.

 

Global Structural Steel Market

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Non-Residential Segment to Account for a Substantial Market Share of the Global Structural Steel Industry

Based on application, the non-residential segment is predicted to occupy a substantial market share in the structural steel  industry. The segment growth can be associated with the increasing infrastructural developments of non-residential buildings globally, such as institutional, commercial, and industrial buildings. Moreover, the increasing construction of other building structures such as highways and bridges is also driving the demand for structural steel. In addition, government initiatives and increasing investments in the construction of smart cities are also expected to aid the market growth in the forecast period.

 

The Asia Pacific to Dominate the Global Structural Steel Industry

The Asia Pacific is expected to lead the global market for structural steel in the forecast period. This growth can be attributed to the rising population in the region. In order to meet the housing requirements of the increasing population, the governments are devising housing strategies and the construction of smart cities in the region. The growing population  is also leading to an increased demand for non-residential buildings such as commercial buildings for employment purposes. These factors are expected to catalyse the market growth of the global structural steel  industry in the Asia Pacific.

In April 2021, Anshan Iron & Steel Group, a leading steel manufacturer based in China, announced a potential merger underway with Benxi Iron & Steel Group. Such developments are expected to further increase the penetration and global reach of key players operating in the industry.

 

Structural Steel: Market Segmentation

Structural steel is a carbon steel used in a variety of shapes in the critical infrastructure construction process. It is mainly used as a reinforcement material along with concrete to counter its low tensile strength: the resistance to lengthwise stress and ductility, which is the extent to which a material can sustain deformation under tensile stress, which allows the steel to redistribute stress. Appropriate industry standards define structural steel based on its chemical composition and tensile properties, which can be altered to meet specific building requirements. Major shapes of structural steel include universal beams, angled sections, and universal columns, among others.

 

Global Structural Steel Market by Segment

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By application, the market is categorised into:

  • Non-Residential
  • Residential

Among these, the non-residential segment is further divided into industrial, commercial, offices, and institutional.

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Structural Steel Market by Region

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Rapid Urbanisation and Increased Housing Demands to Drive the Market Growth of the Global Structural Steel Industry

The rapid population growth is being observed worldwide, leading to an increased demand for residential and non-residential infrastructure construction. According to UN statistics, the world population is expected to increase from 7.7 billion to 9.7 billion by 2050. Among these, 61% of the world's population resides in Asia, with China and India accounting for more than 1 billion people. As a result, the growing urbanisation is furthering the demand for infrastructural development for housing and commercial buildings. Similarly, the growing trends for the construction of high-rise buildings and skyscrapers are also expected to increase the demand for structural steel in the forecast period. These factors are estimated to impact the market growth positively in the forecast period.

 

Key Industry Players in the Global Structural Steel Market

The report gives a detailed analysis of the following key players in the global structural steel market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Anshan Iron & Steel Group Corporation
  • Anyang Iron & Steel Group Co. Ltd.
  • Arcelor Mittal S.A.
  • Tata Steel Limited
  • McFarlane Mfg.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region
Breakup by Application Non-Residential, Residential
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Anshan Iron & Steel Group Corporation, Anyang Iron & Steel Group Co. Ltd., Arcelor Mittal S.A., Tata Steel Limited, McFarlane Mfg., 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.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Structural Steel Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Structural Steel Historical Market (2018-2022) 
    8.3    Global Structural Steel Market Forecast (2023-2028)
    8.4    Global Structural Steel Market by Application
        8.4.1    Non-Residential
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Industrial
                    8.4.1.4.1.1    Market Share
                    8.4.1.4.1.2    Historical Trend (2018-2022)
                    8.4.1.4.1.3    Forecast Trend (2023-2028)
                8.4.1.4.2    Commercial
                    8.4.1.4.2.1    Market Share
                    8.4.1.4.2.2    Historical Trend (2018-2022)
                    8.4.1.4.2.3    Forecast Trend (2023-2028)
                8.4.1.4.3    Offices
                    8.4.1.4.3.1    Market Share
                    8.4.1.4.3.2    Historical Trend (2018-2022)
                    8.4.1.4.3.3    Forecast Trend (2023-2028)
                8.4.1.4.4    Institutional
                    8.4.1.4.4.1    Market Share
                    8.4.1.4.4.2    Historical Trend (2018-2022)
                    8.4.1.4.4.3    Forecast Trend (2023-2028)
        8.4.2    Residential
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)    
    8.5    Global Structural Steel Market by Region
        8.5.1    North America
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022) 
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Europe
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022) 
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Asia Pacific
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022) 
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Latin America
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022) 
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Middle East and Africa
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2022) 
            8.5.5.3    Forecast Trend (2023-2028)
9    North America Structural Steel Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Structural Steel Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Structural Steel Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Structural Steel Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle  East and Africa Structural Steel Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Anshan Iron & Steel Group Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Anyang Iron & Steel Group Co. Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Arcelor Mittal S.A.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Tata Steel Limited
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    McFarlane Mfg.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Structural Steel Market: Key Industry Highlights, 2018 and 2028
2.    Global Structural Steel Historical Market: Breakup by Application (USD Billion), 2018-2022
3.    Global Structural Steel Market Forecast: Breakup by Application (USD Billion), 2023-2028
4.    Global Structural Steel Historical Market: Breakup by Region (USD Billion), 2018-2022
5.    Global Structural Steel Market Forecast: Breakup by Region (USD Billion), 2023-2028
6.    North America Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
7.    North America Structural Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
8.    Europe Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
9.    Europe Structural Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
10.    Asia Pacific Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    Asia Pacific Structural Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Latin America Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Latin America Structural Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Middle East and Africa Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Middle East and Africa Structural Steel Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Global Structural Steel Market Structure

Key Questions Answered in the Report

In 2020, the global structural steel market attained a value of nearly USD 96 billion.

The market is projected to grow at a CAGR of 5.70%  between 2023 and 2028.

The major drivers of the industry such as the increased population growth,  increased private and public investments in the research and development of the structural steel industry growing urbanisation, increasing investments in the construction of smart cities, and increasing construction of highways and bridges are expected to aid the market growth.

The key market trends guiding the growth of the industry include the increasing  industrialisation and increased demand for residential and non-residential infrastructure construction.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The market is divided based on application into non-residential and residential. Among these, the non-residential segment is further distributed into industrial, commercial, offices, and institutional.

The major players in the industry are Anshan Iron & Steel Group Corporation, Anyang Iron & Steel Group Co. Ltd., Arcelor Mittal S.A., Tata Steel Limited, and McFarlane Mfg., among others.

Analyst Review

The global structural steel market attained a value of USD 96 billion  in 2020, driven by increased demand for residential and non-residential infrastructure construction. Aided by the increased housing demands due to the growing population and the rapid industrialisation, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 5.70%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By application, the market can be distributed into non-residential and residential. Among these, the non-residential segment is further distributed into industrial, commercial, offices and institutional. The major regional markets for structural steel are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Anshan Iron & Steel Group Corporation, Anyang Iron & Steel Group Co. Ltd., Arcelor Mittal S.A., Tata Steel Limited, and McFarlane Mfg., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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