What Transformation Has the Architectural And Structural Metals Market Undergone?
The architectural and structural metals market has seen considerable growth due to a variety of factors.
• In recent times, there has been significant growth in the size of the architectural and structural metals market. It is projected to expand from a market size of $643.22 billion in 2024 to $682.81 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.2%. Factors like construction and infrastructure development, urbanization, population growth, industrial and commercial construction, architectural trends, and government investment in infrastructure have contributed to the historical period's growth.
What Is The Forecast For The Architectural And Structural Metals Market?
The Architectural And Structural Metals market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of architectural and structural metals is projected to witness consistent growth in the upcoming years. It is anticipated to escalate to $827.69 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 4.9%.
The upslope during the forecast timeframe is due to sustainable constructions, projects related to renewable energy, innovative smart building technologies, worldwide urbanization patterns, resilience and enhancements in infrastructure. Key trends during the forecast period involve emphasis on building information modeling (BIM), energy-saving building enclaves, urbanization and infrastructure evolution, utilization of upcycled and recycled metals, and the influence of global architectural trends.
What Are The Essential Drivers Behind The Growth Of The Architectural And Structural Metals Market?
The expansion of the construction industry is anticipated to fuel the progress of the architectural and structural metals market in the future. Construction entails constructing, altering, fixing, refurbishing, or demolishing infrastructure. It also means creating or building something. Architectural and structural metals are indispensable to the construction industry for the creation of durable and striking buildings, due to their resistance to corrosion, ductility, and lightness. Consequently, an expanding construction sector propels market growth. For example, the Office of National Statistics, a UK-based statistical authority, reported in November 2023 that total new construction work soared by 15.8%, reaching an unprecedented milestone with a 2023 value of £132,989 million. Furthermore, in 2022, the new work total grew by £18,161 million, with the private sector expanding at 16.8% and 13.1% growth in the public sector. Thus, these developments are driving the architectural and structural metals market forward.
How Is The Global Architectural And Structural Metals Market Divided Into Key Segments?
The architectural and structural metals market covered in this report is segmented –
1) By Type: Plate Work And Fabricated Structural Products, Ornamental And Architectural Metal Products
2) By Application: Construction, Manufacturing, Other Applications
Subsegments:
1) By Plate Work And Fabricated Structural Products: Steel Plates, Beams And Columns, Frames And Trusses
2) By Ornamental And Architectural Metal Products: Railing And Fencing, Gates And Grilles, Decorative Metalwork, Roof And Facade Systems
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What Trends Are Reshaping The Future Of The Architectural And Structural Metals Market?
The push for technological innovation is an escalating trend in the architectural and structural metals market. To solidify their standing in the market, principal firms are making a conscious effort to adopt such advancements. For example, in December 2022, CYPE, a company from Spain that develops technical software for professionals in the fields of architecture, engineering, and construction, rolled out a new tool called StruBIM Steel. This tool, designed specifically for creating structural steel detailing drawings, has a unique ability to construct and manage BIM (building information model) models for steel detailing, and with just a single click, produce all the necessary structural drawings for manufacturing. It also enables continuous revisions and updates to the production and assembly drawings, which can be sent directly to the manufacturing workshops.
Who Are the Key Players In The Architectural And Structural Metals Market?
Major companies operating in the architectural and structural metals market include:
• NCI Building Systems Inc.
• Gibraltar Industries Inc.
• Valmont Industries Inc.
• Arconic Inc.
• Nucor Corporation
• United States Steel Corporation
• ArcelorMittal SA
• China Baowu Steel Group
• JFE Steel Corporation
• Nippon Steel Corporation
• Tata Steel Ltd.
• Larson Manufacturing Company Inc.
• Jeld Wen Inc.
• Defiance Metal Products Co.
• TrueNorth Steel Inc.
• DuraVent Inc.
• Worthington Industries Inc.
• Steel Dynamics Inc.
• AK Steel Holding Corporation
• Carpenter Technology Corporation
• Allegheny Technologies Incorporated
• Commercial Metals Company
• Reliance Steel & Aluminum Co.
• Mueller Industries Inc.
• The Timken Company
• Olympic Steel Inc.
• Universal Stainless & Alloy Products Inc.
• A.M. Castle & Co.
• Ryerson Holding Corporation
• Schnitzer Steel Industries Inc.
What Are The Regional Insights Into The Architectural And Structural Metals Market?
North America was the largest region in the architectural and structural metals market in 2024. The regions covered in the architectural and structural metals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
