Players are heavily investing in development of new products to sustain in the market. Structural steel market share by non-residential application, Emerging economies of Asia Pacific including Hong Kong and China have witnessed rapid growth rate in non-residential segment over the past few years owing to the adoption of specialized novel construction techniques such as design-and-build and reclamation methods.
Presence of major manufacturers in this region is also driving the growth of the market in Europe. These products are considered as green construction material owing to its property of being able to be recycled and reused, continuous improvement in construction sector has led to the manufacturing of environmentally friendly products and reduced greenhouse gas emissions, thus propelling industry size.
Need for housing developments and improved infrastructure is projected to drive product demand in the region. S and access to cheaper energy is also likely to positively influence demand. Structural Steel Market, By Region Asia Pacific, led by South Korea, Japan, India and China structural steel market is estimated to surpass million tons in the estimated timeframe owing to growing consumer consciousness regarding safe construction.
Global construction spending is likely to surpass USD 10 trillion by Other products, namely precision strips, precision tubes, wires, rolled rings, and 3D forgings are typically used in the construction sector.
Increasing use of carbon fiber is estimated to restrain the growth over the forecast period. Major industry players are projected to integrate their business operation including extraction, processing, and distribution, thus stimulating product demand by Rise disposable income in India and China and has led to an increase in urban development projects.
Properties such as corrosion resistance, tensile strength, and aesthetic appearance make stainless steel an essential raw material in the automobile industry. Some types of market structure may be described using several recurrent types of descriptive organizational mechanism which may or may not dominate any particular market over time or at particular points in time, such as; 1.
The industrial revival driven by the shale gas deposits in U. Favorable government policies including Make-in-India along with significant rise in foreign direct investments are likely to remain the key drivers of market growth in South Asian economies.
Structural Steel Market, By Application Structural steel market size from residential application may exceed USD billion in forecasted timeframe Growing initiatives from governments to provide funds and subsidies to make housing affordable, especially for low income families, is likely to drive residential sector which in turn may drive product demand by It is most commonly used in industrial building since the immense strength is beneficial not only for structural integrity but also for subsiding potential impact of repairs.
Growing consumer spending and governmental investments in tourism, office buildings and retail space, and manufacturing facilities is anticipated to stimulate product market size. Increasing application in heavy industries is anticipated to drive its growth in the market. In terms of revenue, the duplex series is likely to witness a CAGR of 6.
Rising ecological trepidations are encouraging governments, manufacturers and customers to use sustainable and nature friendly products, which is projected to escalates demand for structural steel.
Regional Insights North Asia dominates the industry owing to, technological advancements, rapid industrial development, high GDP growth rates, and increasing construction spending. The non-residential emerged as the dominant application segment inowing to increasing demand for high-quality construction material in industrial, commercial, offices and institutional buildings.
It is most commonly used in industrial building since the immense strength is beneficial not only for structural integrity but also for subsiding potential impact of repairs. Structural steel homes are resistive to flood and earthquakes, up to a magnitude of 7. Steel sections such as I-beams, angles, channels and wide flanges are widely used in construction industry owing to their exceptional design flexibility and energy efficiency.
Increasing application scope in a wide range of non-residential applications including healthcare facilities, data centers, big box retail stores, airports and manufacturing facilities is expected to foster the demand.
Additionally, high fireproofing cost involved in product may affect product price trends. Industry Trends.
Structural Steel Market size was over USD billion in and industry expects consumption of above million tons by US Structural Steel Market Size, By Non-Residential Application, &(Million Tons) Increasing awareness among consumer about design and flexibility in construction materials is.
Steel Markets China report examines China's economic trends, investment environment, industry development, supply and demand, industry capacity, industry structure, marketing channels and major industry participants.
Historical data (, and ) and long-term forecasts through and are presented. Overview of steel and iron market Deloitte CIS Research Centre Moscow, 01 02 03 Contents 04 05 06 Introduction 3 Key findings 4 Global steel and iron market 5 From a strategic perspective, the steel and iron industry depends on.
First of all, they used data envelopment approach (DEA) measurements and analysis of iron and steel enterprise technical efficiency, pure technical efficiency and scale efficiency, and then from a business point of view of the system structure of the steel market, steel industry, firm size and the relationship between business efficiency.
According to IMARC Group’s latest report, titled “Saudi Arabia Prefabricated Building and Structural Steel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast ”, Saudi Arabia prefabricated building and structural steel market reached a value of nearly US$ 1 Billion in The global stainless steel market is categorized into four major applications: heavy industry, automotive and transportation, building and construction, and consumer goods.
Demand from heavy industries accounted for a revenue share of % inMarket structure of steel industry