Structural Steel Market is set for rapid growth and is expected to $179.92 Billion By 2032

Zion Market Research  has published a new report titled “Structural Steel Market: by Product (Heavy Sectional Steel, Light Sectional Steel, and Rebar), by Application (Residential, Non-Residential, and Industrial), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032” According to the report, the Structural Steel market accounted for USD 111.45 billion in 2023 and is predicted to grow to around USD 178.92 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.4%

According to studies, the demand for steel products around the world has been recovering gradually since 2015. Global steel demand in 2017 reached 1587.4 million metric tonnes (MMT), exceeding the previous peak attained in 2014 (1545.8 MMT). This represents a 4.7% increase compared to 2016. The increase in global steel demand was supported by China (which recorded an 8.3% growth rate), the North American Free Trade Agreement (NAFTA) region (6.3%), the Commonwealth of Independent States (CIS) region (6.2%), Central and South America (3.8%) and the E.U. (2.5%). On the other hand, steel demand remained almost unchanged in the Middle East (increasing by only 0.4%), and decreased in Africa (6.6%) and Oceania (5.9%).

Market data suggest that steel consumption growth stalled in most economies in 2018 and that the 2017 recovery may be losing momentum. Downside risks to the outlook include increased trade frictions and a weakening global economy, which suggests that without further action large structural imbalances are likely to persist.

Browse the full “Structural Steel Market: by Product (Heavy Sectional Steel, Light Sectional Steel, and Rebar), by Application (Residential, Non-Residential, and Industrial), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032” Report at https://www.zionmarketresearch.com/report/structural-steel-market

Structural steel has long been considered the premier green construction material, and the structural steel industry continues to improve its leading environmentally-friendly position by further reducing greenhouse gas emissions. While numerous legislative and regulatory efforts in recent years have targeted emissions, energy efficiency, and related environmental concerns, the structural. The steel industry has been proactive in pursuing measures of its own that typically exceed regulatory requirements. A recent structural steel utilization survey, including HSS, indicated 40% of domestic consumption of structural steel is utilized in building projects under roof, 45% in nonbuilding structures and 15% for nonstructural applications.

Based on the product, the global structural steel market has been classified into heavy sectional steel, light sectional steel, and rebar. The heavy sectional steel segment has anticipated gaining substantial growth over the forecast period. Heavy structural steel possesses excellent chemical & physical properties of seismic resistance and high strength, which are helpful in construction activities. Moreover, the increasing use of heavy structural steel in the construction of airports, data centers, and healthcare facilities has strengthened the demand for the segment.

Structural Steel Market: Competitive Space

The Structural Steel market is highly united with major players including

• Tata Steel
• Baosteel Company
• Anyang Iron & Steel Group Co.Ltd.
• Steel Authority of India Limited
• VISA Steel
• POSCO
• Nippon Steel & Sumitomo Metal Corporation
• Hesteel Group Company Limited
• Shagang Group Company Limited
• ArcelorMittal S.A.

This report segments the global structural steel market as follows:

Global Structural Steel Market: Product Segment Analysis

• Heavy Sectional Steel
• Light Sectional Steel
• Rebar

Global Structural Steel Market: Application Segment Analysis

• Residential
• Non-Residential
• Industrial

Global Structural Steel Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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