Structural Steel Market By Product Type (Alloy Structural Steel, Carbon Structural Steel, Low-Alloy Structural Steel, Heat-Resistant Steel), By Application (Residential (Industrial, Commercial, Office, and Institutional) and Non-Residential), and By Region - Trends, Analysis, and Forecast till 2030

The global structural steel market accounted for USD 104.7 Billion in 2020 and is estimated to be USD 174.80 Billion by 2030 and is anticipated to register a CAGR of 5.3%.

Structural Steel is a category steel used in making construction materials in different shapes. These materials are made from specific grades of steel and formed in a range of industry-standard cross-sectional shapes. It is designed with specific chemical composition and mechanical properties formulated for particular applications.  For making construction materials in a variety of shapes, structural steel is a category of steel used. I-beam, hollow structural section (HSS) shape, Z-shape, angle (L-shape), and T-shaped are various type structural steel used. Structural steels are manufactured in section and plate shapes and are generally used in buildings, bridges, ships, and pipelines. Structural steel is classified as carbon-manganese steels, high-strength low-alloy steels, and high-strength tempered and quenched alloy steels. Raw iron is usually used in making of structural steel which has various properties such as high strength, toughness, stiffness, and ductile properties. Structural Steel is 100% recyclable and one of the most reused materials in the world. Steel can be classified as carbon steel, high-strength low alloy steel, heat-treated carbon steel and heat-treated construction alloy steel.

Rising industrialization and construction industry

Growing residential & non-residential buildings along with rising number of manufacturing facilities in developed and developing region is the major factor to drive global structural steel market. The rise in disposable income coupled with technological advancements in the prefabricated and pre-engineered building projects in the overall construction industry are the factors which enhances the growth of target market. The structural steel market is strict norms and regulations associated with Carbon Dioxide (CO2) emissions led to propel the global structural steel market. Steel products can be recycled again and again which helps reduce energy consumption and boost up the target market.

However, structural steel as compared to concrete has very less resistance to fire and if it loses its ductility property, then there is chance of the steel becoming brittle which is the major factor which will propel the global structural steel market. Fluctuations in raw material prices are another factor inhibiting growth of the global structural steel market.

The global structural steel market has been segmented on the basis of product type, application, and region.

On the basis of product type, the global market is classified into alloy structural steel, carbon structural steel, low-alloy structural steel, heat-resistant steel. On the basis application, the target market is divided into residential and non-residential.

Regional Insights:

In region the global structural steel market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific held the largest share in the structural steel market due to rapid industrial growth coupled with technological advancements in construction industry in the region.  The market in North America and Europe is expected to register moderate growth over the forecast period, owing to increasing use of structural steel for construction of residential and non-residential buildings in countries in the region followed by Latin America and Middle East & Africa

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global structural steel market report based on product type, application, and region.

Global Structural Steel Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the global structural steel market includes Arcelor Mittal Pvt Ltd., Nippon Steel & Sumitomo Metal Corporation, POSCO Corp, Wuhan Iron & Steel (Group) Corp., Bohai Steel Group Co., Ltd., Tata Steel Limited, Anshan Iron and Steel Group Corporation, Anyang Chemical Industry Group Co., Ltd., Hyundai Steel Company, Gerdau S.A. Corp.

• Arcelor Mittal Pvt Ltd.
• Nippon Steel & Sumitomo Metal Corporation
• POSCO Corp
• Wuhan Iron & Steel (Group) Corp.
• Bohai Steel Group Co., Ltd.
• Tata Steel Limited
• Anshan Iron and Steel Group Corporation
• Anyang Chemical Industry Group Co., Ltd.
• Hyundai Steel Company
• Gerdau S.A. Corp.