- The growing construction industry significantly drives the flat steel market due to increased urbanization and infrastructure development. For instance, large-scale projects such as smart cities and high-rise buildings require substantial amounts of flat steel for building frames, roofing, and other structural elements
- In countries such as China and India, rapid urban growth and extensive infrastructure projects, such as highways and bridges, further boost the demand for flat steel products
- North America dominated the flat steel market with the largest revenue share of 39.7% in 2024, fueled by increasing demand from automotive, construction, and energy sectors, alongside strong investment in steel recycling and green steel production technologies
- Asia-Pacific is projected to register the fastest CAGR of 15.3% from 2025 to 2032, driven by rising steel consumption across construction, automotive, and industrial sectors in China, India, Japan, and Southeast Asia
- The Hot-Rolled Coil segment dominated the flat steel market with the largest revenue share of 34.6% in 2024, driven by its widespread use in automotive, construction, and industrial manufacturing due to its high strength, cost-effectiveness, and suitability for structural applications
