Increasing use of product in construction of residential and non-residential building in Mexico, China, India, Japan and Middle East countries are major factor driving product demand.
Strong recovery of construction industry in developed markets of the U. Steel sections such as I-beams, angles, channels and wide flanges are widely used in construction industry owing to their exceptional design flexibility and energy efficiency.
Exponential technological advancements in industry for cost reduction and production maximization has fostered the demand of high performance structural steel. Increasing application scope in a wide range of non-residential applications including healthcare facilities, data centers, big box retail stores, airports and manufacturing facilities is expected to foster the demand.
Emergence of private sector construction firms in India, Mexico and UAE is expected to further contribute in construction spending, positively influencing the market growth.
Application Insights The market has been segmented into residential and non-residential segments. The non-residential emerged as the dominant application segment inowing to increasing demand for high-quality construction material in industrial, commercial, offices and institutional buildings.
It is most commonly used in industrial building since the immense strength is beneficial not only for structural integrity but also for subsiding potential impact of repairs.
It is also ideal for building large bridges owing to its high level of durability and excellent strength-to weight ration which ensures withstanding the weight of cars and pedestrians. Structural steel market share by non-residential application, Emerging economies of Asia Pacific including Hong Kong and China have witnessed rapid growth rate in non-residential segment over the past few years owing to the adoption of specialized novel construction techniques such as design-and-build and reclamation methods.
A wide application scope in residential buildings ranging from a single family house to a mixed-space building is leading to augmented demand.
Regional Insights North Asia dominates the industry owing to, technological advancements, rapid industrial development, high GDP growth rates, and increasing construction spending. China is expected to emerge as the dominant country in the region due to population expansion along with high GDP growth.
Increasing number of public-private partnership PPP projects are further expected to compliment the demand. Favorable government policies including Make-in-India along with significant rise in foreign direct investments are likely to remain the key drivers of market growth in South Asian economies.
An increase in the number of building permits released by the U. S Census Bureau has led to a rise in the construction of residential and no-residential buildings.
The industrial revival driven by the shale gas deposits in U. S and access to cheaper energy is also likely to positively influence demand. This innovation is considered to be a result of growing interest on earthquake-resistant reinforcing bars that delay the collapse of building structures and minimize damages when an earthquake hits.Nov 15, · Competitive Landscape: Structure Steel Fabrication Market.
Comprehensive research findings inked in this section of the report allow readers to evaluate the effectiveness of marketing strategies in fostering holistic growth in structured steel fabrication market, besides triggering favorable market growth.
Flat Steel Market size is expected to grow at a significant CAGR during the forecast period owing to increasing product usage in packaging, manufacturing and home appliances; Global steel market was valued at over USD billion in while China is the major producer and accounted for over 45% of the total market share.
According to IMARC Group’s latest report, the global prefabricated building market reached a value of US$ Billion in , whereas the structural steel market reached a value of US$ Billion in .
Market Size of Flat Steel Market by Regions (USD Billion) Key Players The key players of Flat Steel Market report include- United Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Essar Steel, Tata Steel Ltd, Hyundai Steel Co., POSCO, SSAB, ArcelorMittal, Voestalpine, and ThyssenKrupp.
Global Hot Rolled Structural Steel Market Report analyze the key factor like market status, market share, growth rate, future trends, market drivers, opportunities, challenges and more.
Global Hot. MARKET STRUCTURE >> Research and Analysis. Data Highlights are periodically prepared by SEC staff based on MIDAS data snapshots when new data series are created or noteworthy changes or developments occur.
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