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Flat Steel Market Analysis | 2025-2030
Flat Steel Market Size, Share, Trends, Dynamics, Forecast & Growth Analysis: 2025-2030
The flat steel market was estimated at USD 680 billion in 2024 and is likely to grow at a CAGR of 5.27% during 2025-2030 to reach USD 899.72 billion in 2030.
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Flat steel is one of the two types of steel construction products, made from steel slabs and includes plate, strip, hollow sections, large diameter welded pipe, and structural beams.
Flat steel products are classified into hot rolled sheets, cold rolled sheets, coated sheets, and plates. They are widely used for making various finished products in various industries including automobiles, domestic appliances, shipbuilding, and construction.
An expected increase in demand for flat steel products is attributed to their increasing usage and applications in various end-use industries, such as shipbuilding and automotive body panels, building & infrastructure, transportation, and industrial sectors.
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The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the major flat steel market (arranged alphabetically).
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Process Type Analysis |
Basic Oxygen Furnace, Electric Arc Furnace |
Basic oxygen furnace dominates the market during the forecast period. |
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Product Type Analysis |
Sheets & Strips, Plates |
Plates are expected to remain the largest product type of the market during the forecast period. |
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End-User Type Analysis |
Building & Infrastructure, Mechanical Equipment, Transportation, and Others |
The building & infrastructure segment is expected to remain the largest and the fastest-growing end-user of the market during the forecast period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is expected to remain the dominant region in the market during the forecast period. |
“Basic oxygen furnace dominates the market during the forecast period.”
The market is segmented into basic oxygen furnace and electric arc furnace. Basic oxygen furnaces held the larger share of the market in 2024, owing to their wider usage in steel production across the world due to their higher production rates, lower residual element, and more powerful and effective process.
“Sheets & strips segment dominates the market during the forecast period.”
The flat steel market is segmented into sheets & strips and plates. The plates are expected to remain the largest product type of the market during the forecast period due to their extensive application in heavy industries like construction, shipbuilding, and energy. Steel plates are vital for building large, durable structures such as bridges, ships, storage tanks, and industrial machinery. Their high strength, toughness, and ability to withstand extreme stress and environmental conditions make them ideal for these demanding sectors.
“The building & infrastructure segment dominates the market during the forecast period.”
The market is segmented into building & infrastructure, mechanical equipment, transportation, and others. The building & infrastructure segment is expected to remain the largest and the fastest-growing end-user of the market during the forecast period, owing to rapid growth in the construction industry with increasing usage of flat steel products in constructing residential & commercial buildings and in roads, ports, airports, and railways.
“Asia-Pacific is expected to remain the dominant region in the market during the forecast period.”
Owing to the largest and fastest-growing construction market in the region, industrialization, urbanization, and increasing disposable income in emerging economies will continue to propel the demand for flat steel in the region over the next five years. Organic growth of the automotive industry with increasing penetration of electric vehicles to reduce carbon emissions is also likely to boost the demand for flat steel products in the region. The region is also the largest exporter of crude steel along with flat steel products in the world with China and India being the top two producers in the world.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s flat steel market realities and future market possibilities for the forecast period of 2025 to 2030. After a continuous interest in our flat steel market report from the industry stakeholders, we have tried to further accentuate our research scope to the flat steel market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
Market Segmentation
This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The flat steel market is segmented into the following categories:
By Process Type
By Product Type
By End-User Type
By Region
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Flat steel is one of the two types of steel construction products, made from steel slabs and includes plate, strip, hollow sections, large diameter welded pipe and structural beams. Flat steel products are classified into hot rolled sheets, cold rolled sheets, coated sheets and plates. They are widely used for making various finished products in various industries including automobiles, domestic appliances, shipbuilding, and construction.
The flat steel market was estimated at USD 680 billion in 2024.
The forecasted value of the flat steel market is expected to be USD 899.72 billion in 2030.
The flat steel market is likely to grow at a CAGR of 5.27% during 2025-2030.
ArcelorMittal S.A., China Baowu Steel Group Corp., Ltd., Nippon Steel Corporation, Hesteel Group Company Limited, POSCO, Shougang Group Co., Ltd., JFE Steel Corporation, Tata Steel Limited, SSAB AB, ThyssenKrupp AG, and Voestalpine AG are among the key players in the market.
Asia-Pacific is expected to remain the dominant region in the market during the next five years.
The building & infrastructure segment is expected to remain the largest end-user in the market in the coming years.
An expected increase in demand for flat steel products is attributed to their increasing usage and applications in various end-use industries, such as shipbuilding and automotive body panels, building & infrastructure, transportation, and industrial sectors.
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