Cold Rolled Steel Coil Market Size, Share, Trends, Growth and Forecast 2030

Cold Rolled Steel Coil Market

Cold Rolled Steel Coil Market By Application (Industrial Equipment, Automotive, Construction, and Others), By Product Type (Panel & Decks and Individual Structural Framing Members), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Chemical & Materials Report Format : PDF Pages: 230 Report Code: ZMR-7302 Published Date: Jun-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 143.26 Million USD 165.02 Million 1.78% 2022

Cold Rolled Steel Coil Industry Prospective:

The global cold rolled steel coil market size was worth around USD 143.26 million in 2022 and is predicted to grow to around USD 165.02 million by 2030 with a compound annual growth rate (CAGR) of roughly 1.78% between 2023 and 2030.

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The report analyzes the global cold-rolled steel coil market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the cold-rolled steel coil industry.

Cold-Rolled Steel Coil Market: Overview

The cold-rolled steel coil is a type of coil that has undergone a cold-rolling procedure. Typically, steel coils are produced using the hot-rolled form. This means that they are formed using extremely high temperatures and are later cooled. This means that cold-rolling is a subsequent process that is undertaken to enhance or further the properties, dimensions, and characteristics of the steel. During cold-rolling, the hot-rolled steel coil is made to pass through a series of rollers which are kept at room temperature or slightly lower. This procedure helps in reducing coil thickness and improving the surface finish of the steel. Furthermore, it also assists in imparting specific mechanical properties to the steel including hardness and strength. One of the main characteristics of cold-rolled steel is its clean and smooth surface along with uniform thickness and precise dimension allowing it to be used in several end-user verticals. The cold rolled steel coil industry deals with the production and distribution of cold-rolled steel coils.

Key Insights:

  • As per the analysis shared by our research analyst, the global cold-rolled steel coil market is estimated to grow annually at a CAGR of around 1.78% over the forecast period (2023-2030)
  • In terms of revenue, the global cold-rolled steel coil market size was valued at around USD 143.26 million in 2022 and is projected to reach USD 165.02 million, by 2030.
  • The cold rolled steel coil market is projected to grow at a significant rate due to the growing demand in the automotive sector
  • Based on application segmentation, automotive was predicted to show maximum market share in the year 2022
  • Based on product type segmentation, individual structure framing members was the leading type in 2022
  • On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Cold-Rolled Steel Coil Market: Growth Drivers

Increasing demand in the automotive sector to drive market growth

The global cold-rolled steel coil market is projected to grow owing to the increasing demand in the automotive sector which is one of the fastest-growing industries. It is currently one of the largest consumers of cold-rolled steel coils. The demand in the sector is influenced by rising requirements and consumption of light-weight vehicles which also promote fuel efficiency. Factors such as rising disposable income, innovation by automotive manufacturers, growing financial assistance, and the presence of a large number of options are causing growth in the automotive industry. This has subsequently resulted in higher demand and consumption of cold-rolled steel coils to manufacture several automotive parts. Furthermore, they are also considered more environmentally friendly when compared to other materials. This could lead to a gradual shift toward cold-rolled forms of steel coil since the production consumes less energy than hot-rolled steel.

Cold-Rolled Steel Coil Market: Restraints

Changing prices of raw materials to restrict market expansion

The cold-rolled steel coil industry is expected to face growth restrictions owing to the changing prices of raw materials used during the production of cold-rolled steel coils. Some of these materials include energy sources and iron ore. They are highly sensitive to political, economic, and social factors. The high price volatility can make it challenging for the industry players to maintain stable pricing and obtain profit. This is especially applicable in this decade since many countries are witnessing changes in political power dynamics and global order.

Cold-Rolled Steel Coil Market: Opportunities

Increasing demand for electric vehicles (EVs) to provide growth opportunities

The global cold rolled steel coil market is projected to come across higher growth opportunities owing to the rising demand for electric vehicles. Cold-rolled steel coils are highly essential components for producing an efficient EV. They are used to produce structural parts, body frames, and battery enclosures to name a few of the larger applications. With the growing demand for EVs driven by the rising shift toward reducing fuel dependency, growing emphasis on environmental sustainability, and large-scale government initiatives to promote the use of green energy, the sales volume for cold-rolled steel coil is projected to grow at a steady rate.

Cold-Rolled Steel Coil Market: Challenges

Intense competition to challenge market growth

The global sales volume of the cold rolled steel coil industry may be limited due to the existence of intense competition as the number of players providing services related to cold-rolled steel coils continues to grow. This can lead to price wars or margin pressure. Moreover, to achieve product differentiation, companies will have to invest higher in research & development or product innovation leading to added costs.

Cold-Rolled Steel Coil Market: Segmentation

The global cold-rolled steel coil market is segmented based on application, product type, and region.

Based on application, the global market segments are industrial equipment, automotive, construction, and others. The market was led by the automotive sector in 2022 since cold-rolled steel coils are used extensively for the production of automotive parts and components. This includes body panels, chassis, and several other structural parts. As the automotive industry is always seeking lightweight materials exhibiting high strength, cold-rolled steel coils exactly fit the requirements. Growing demand for safety, fuel efficiency, and vehicle aesthetics could lead to higher consumption of this form of steel as compared to hot-rolled steel coils. According to a report, nearly 2.86 million cars were sold in the US in 2022. In the construction sector, cold-rolled steel coils are used for producing components such as trusses, columns, and beams. This segment is also crucial to the overall market expansion strategy.

Based on product type, the global market is segmented into panels & decks, and individual structural framing members. The highest CAGR was observed in the individual structural framing members segment in 2022 due to the greater application of cold-rolled steel coils in the production of these components. They are responsible for providing support, stability, and load-bearing capacity to buildings or other structures. Individual structural framing members are crucial in the construction sector as they bear the loads and the weight of the structure. This ensures the maintenance of structural integrity and stability. Cold-rolled steel coils are preferred in the production of these products owing to their high strength, dimensional accuracy, and consistency in material properties. Cold-rolled steel exhibits a tensile strength of 85000 psi while that of hot-rolled steel is 67,000 psi.

Recent Developments:

  • In February 2023, Tata Steel, India’s leading steel supplier, announced the signing of an agreement with Wuppermann, BILSTEIN Group, Grupo Arania, and EMW Stahl Service. As per the agreement, Tata Steel will supply the companies with Zeremis Carbon Lite steel. This also comes with an allocated carbon footprint reduction of a maximum of 90%. The company plans to become a producer of green, clean, and circular steel
  • In June 2021, Metinvest, a leading Ukrainian steel producer, awarded Danieli, an Italy-based supplier of physical plants and equipment, a contract for building a cold-rolled, galvanized, and color-coated coil production complex which will be built in Mariupol, Ukraine. The complex is expected to run at a capacity of 1.6 Mtpy

Cold-Rolled Steel Coil Market: Report Scope

Report Attributes Report Details
Report Name Cold Rolled Steel Coil Market
Market Size in 2022 USD 143.26 Million
Market Forecast in 2030 USD 165.02 Million
Growth Rate CAGR of 1.78%
Number of Pages 230
Key Companies Covered ArcelorMittal, Nippon Steel Corporation, POSCO, Baosteel Group Corporation, Thyssenkrupp AG, JFE Steel Corporation, Tata Steel, SSAB AB, United States Steel Corporation, AK Steel Holding Corporation, Severstal, Nucor Corporation, Voestalpine AG, China Steel Corporation, BlueScope Steel Limited, Hyundai Steel Company, Marcegaglia Group, Novolipetsk Steel (NLMK), JSW Steel Limited, Essar Steel, SAIL (Steel Authority of India Limited), Shougang Group, Evraz Group, Gerdau S.A., and Outokumpu Oyj.
Segments Covered By Application, By Product Type, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Cold-Rolled Steel Coil Market: Regional Analysis

Asia-Pacific to lead with the highest CAGR during forecast period

The global cold-rolled steel coil market is expected to be led by Asia-Pacific during the forecast period. Currently, China is considered the largest market for the production of cold-rolled steel coils and it dominates over 43.9% of the total revenue share. This is primarily due to the presence of key suppliers of steel in China, South Korea, and India among other regional countries. Moreover, the consumption rate for infrastructure development projects in these countries is surging at a rapid rate. The regional expansion is further strengthened by the presence of a robust manufacturing sector along with rising demand in the automotive sector. This is led by an increasing urban population and the availability of vehicles, including commercial and personal, across the price range. North America may also register significant CAGR primarily led by the construction industry. The US and Canada are anticipated to lead regional growth due to rising commercial and residential building projects.

Cold-Rolled Steel Coil Market: Competitive Analysis

The global cold-rolled steel coil market is led by players like:

  • ArcelorMittal
  • Nippon Steel Corporation
  • POSCO
  • Baosteel Group Corporation
  • Thyssenkrupp AG
  • JFE Steel Corporation
  • Tata Steel
  • SSAB AB
  • United States Steel Corporation
  • AK Steel Holding Corporation
  • Severstal
  • Nucor Corporation
  • Voestalpine AG
  • China Steel Corporation
  • BlueScope Steel Limited
  • Hyundai Steel Company
  • Marcegaglia Group
  • Novolipetsk Steel (NLMK)
  • JSW Steel Limited
  • Essar Steel
  • SAIL (Steel Authority of India Limited)
  • Shougang Group
  • Evraz Group
  • Gerdau S.A.
  • Outokumpu Oyj.

The global cold-rolled steel coil market is segmented as follows:

By Application

  • Industrial Equipment
  • Automotive
  • Construction
  • Others

By Product Type

  • Panel & Decks
  • Individual Structural Framing Members

By Region

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

Table Of Content

Methodology

FrequentlyAsked Questions

The cold-rolled steel coil is a type of coil that has undergone a cold-rolling procedure. Typically, steel coils are produced using the hot-rolled form.

The global cold-rolled steel coil market is projected to grow owing to the increasing demand in the automotive sector which is one of the fastest-growing industries.

According to study, the global cold-rolled steel coil market size was worth around USD 143.26 million in 2022 and is predicted to grow to around USD 165.02 million by 2030.

The CAGR value of cold-rolled steel coil market is expected to be around 1.78% during 2023-2030.

The global cold-rolled steel coil market is expected to be led by Asia-Pacific during the forecast period.

The global cold-rolled steel coil market is led by players like ArcelorMittal, Nippon Steel Corporation, POSCO, Baosteel Group Corporation, Thyssenkrupp AG, JFE Steel Corporation, Tata Steel, SSAB AB, United States Steel Corporation, AK Steel Holding Corporation, Severstal, Nucor Corporation, Voestalpine AG, China Steel Corporation, BlueScope Steel Limited, Hyundai Steel Company, Marcegaglia Group, Novolipetsk Steel (NLMK), JSW Steel Limited, Essar Steel, SAIL (Steel Authority of India Limited), Shougang Group, Evraz Group, Gerdau S.A., and Outokumpu Oyj.

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