What Has Been the Growth Trajectory of the Rolled And Drawn Steel Market?
The rolled and drawn steel market has seen considerable growth due to a variety of factors.
• The market for rolled and drawn steel has seen a substantial expansion in the past few years. It is projected to increase in size from $273.88 billion in 2024 to $293.96 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%.
The growth during the historical period can be credited to factors such as industrialization and infrastructure advancements, the expansion of the automotive industry, overall economic growth globally, trends towards urbanization, and developments within the energy sector.
What is the Forecasted Market Size and CAGR for the Rolled And Drawn Steel Market?
The rolled and drawn steel market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for rolled and drawn steel is anticipated to experience substantial growth in the coming years, escalating to a value of $365.53 billion in 2029, with a compound annual growth rate (CAGR) of 5.6%.
The enhancement during the forecasted period is derived from factors like the development of renewable energy infrastructure, the rise of electric vehicles (EV), emphasis on eco-friendly construction, the advent of intelligent cities, and the incorporation of the Internet of Things (IoT). The forecasted period will also witness key trends including the investment in infrastructure, technological breakthroughs in steel processing and production, the convergence of industry 4.0, and digitization of supply chains.
What Are The Leading Drivers Of Growth In The Rolled And Drawn Steel Market?
The expansion of the worldwide automobile sector is predicted to boost the rolled and drawn steel market's growth in the upcoming future. The rising automotive industry is escalating the demand for car parts that enhance the vehicle's internal and external appearances, longevity, and original quality, thereby leading to an increased requirement for rolled and drawn steel. For example, Marklines Co., a Japan-based marketing company, reported that in December 2023, the total car sales in the United States were at 15,608,386 units, showing a 12.3% rise from 13,905,195 units in 2022. As a result, the automotive industry's growth will ultimately act as a driving force for the expansion of the rolled and drawn steel market.
What Are The Principal Market Segments In The Global Rolled And Drawn Steel Healthcare Industry?
The rolled and drawn steel market covered in this report is segmented –
1) By Type: Color Coated Coil, Continuous Hot Dip Galvanized Steel Coil, Carbon Structural Steel Cold Rolled Coils, Deep Drawing Cold Rolled Coils
2) By Manufacturing Process: Basic Oxygen Furnace (BOF), Electric Arc Furnace (EAF)
3) By Application: Automotive, Construction, Home Appliance, Machinery, Other Applications
Subsegments:
1) By Color Coated Coil: Pre-Painted Galvanized Steel, Pre-Painted Aluminum
2) By Continuous Hot Dip Galvanized Steel Coil: Electro-Galvanized Steel, Hot-Dip Galvanized Steel
3) By Carbon Structural Steel Cold Rolled Coils: Cold Rolled Carbon Steel Sheets, Cold Rolled Carbon Steel Strips
4) By Deep Drawing Cold Rolled Coils: Deep Drawing Quality Sheets, Deep Drawing Quality Strips
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Which Emerging Market Trends Are Altering The Rolled And Drawn Steel
In the rolled and drawn steel market, product innovation is becoming an increasingly prevalent trend. In an effort to bolster their market standing, major players in this sector are putting a greater emphasis on creating new, innovative products. For instance, United States Steel Corporation, an entity based in the US, rolled out ZMAG coated steel in September 2022. Thanks to its zinc-aluminum-magnesium coating, this product boasts enhanced durability against environmental conditions, making it ideal for use within the solar, automotive, and construction industries. Furthermore, the ZMAG coated steel is produced using verdeX steel, which incorporates up to 90% recycled steel content.
Who Are the Key Players in the Rolled And Drawn Steel Market?
Major companies operating in the rolled and drawn steel market include:
• KG Dongbu Steel Co Ltd.
• China Baowu Steel Group Corp Ltd.
• ArcelorMittal S.A.
• Pohang Iron and Steel Company
• Nippon Steel Corporation
• Baosteel Group Co
• Jiangsu Shagang Group Co Ltd.
• ThyssenKrupp AG
• Shougang Group Co Ltd.
• Nucor Corporation
• Anyang Iron and Steel Group Co Ltd.
• JFE Holdings Inc.
• Jianlong Group
• Tata Steel Limited
• Ansteel Group
• Hesteel Group Company Limited
• JSW Steel Limited
• Hyundai Steel Co Ltd.
• Maanshan Iron and Steel Company Limited
• United States Steel Corporation
• NLMK Group
• Gerdau S.A.
• China Steel Corporation
• BlueScope Steel Limited
• Benxi Steel Group Corp Ltd.
• Steel Authority of India Limited
• Hunan Valin Steel Co Ltd.
• Yieh Phui Enterprise
• Rautaruukki Oyj
• MST Steel Corp
What are the Regional Insights into the Rolled And Drawn Steel Market?
Asia-Pacific was the largest region in the rolled and drawn steel market in 2024. The regions covered in the rolled and drawn steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
