Reports
Global Structural Steel Market Size, Share, Trends, Growth: By Application: Non-Residential, Residential; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Structural Steel Market Outlook
The global structural steel market stood at a value of around USD 113.37 billion in 2023. The market is further expected to grow at a CAGR of 5.7% in the forecast period of 2024-2032 to attain a value of USD 186.87 billion by 2032.
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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.
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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.
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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 | 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- 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 (2018-2023)
8.3 Global Structural Steel Market Forecast (2024-2032)
8.4 Global Structural Steel Market by Application
8.4.1 Non-Residential
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Industrial
8.4.1.3.1.1 Historical Trend (2018-2023)
8.4.1.3.1.2 Forecast Trend (2024-2032)
8.4.1.3.2 Commercial
8.4.1.3.2.1 Historical Trend (2018-2023)
8.4.1.3.2.2 Forecast Trend (2024-2032)
8.4.1.3.3 Offices
8.4.1.3.3.1 Historical Trend (2018-2023)
8.4.1.3.3.2 Forecast Trend (2024-2032)
8.4.1.3.4 Institutional
8.4.1.3.4.1 Historical Trend (2018-2023)
8.4.1.3.4.2 Forecast Trend (2024-2032)
8.4.2 Residential
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Structural Steel Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Structural Steel Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Structural Steel Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Structural Steel Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Structural Steel Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Structural Steel Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 2032
2. Global Structural Steel Historical Market: Breakup by Application (USD Billion), 2018-2023
3. Global Structural Steel Market Forecast: Breakup by Application (USD Billion), 2024-2032
4. Global Structural Steel Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Structural Steel Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Structural Steel Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Structural Steel Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Structural Steel Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Structural Steel Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Structural Steel Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Structural Steel Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Global Structural Steel Market Structure
Key Questions Answered in the Report
In 2023, the global structural steel market attained a value of nearly USD 113.37 billion.
The market is projected to grow at a CAGR of 5.7% between 2024 and 2032.
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 113.37 billion in 2023, 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 2024-2032, growing at a CAGR of 5.7%.
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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