Global Coated Steel Market – Industry Trends and Forecast to 2029

Coated Steel Market Analysis and Size

The global coated steel market is expected to witness significant growth during the forecast period. The major factor which is boosting the coated steel market is the growing ultimatum from the electrical appliance industry. The growth in the building and construction sector is expected to dominate the coated steel globally over the forecast period. Therefore, rising building and construction sector is one of the major factors which are expected to drive the growth of the global coated steel market during the forecast period of 2022-2029.

Data Bridge Market Research analyses that the coated steel market was valued at USD 28.23 billion in 2021 and is expected to reach USD 44.32 billion by 2029, registering a CAGR of 5.80 % during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Coated Steel Market Scope and Segmentation

Market Definition

Coated steel sheets have a metallic or non-metallic coating to prevent the steel form rust and corrosion that contamination and humidity can cause on the steel. Coated steel has an extra layer of paint, metal, or both to protect it from wear and rust.

Global Coated Steel Market Dynamics

Drivers

• Rise in demand due to their property

The coated steel provides immense strength which makes it more suitable for constructing buildings. Also the coated steel is stronger than other options it possesses unique characteristics, such as flexible, tensile, ductile and cost-effective and create desirable demand prospects for coated steels in the global market. These factors are projected to drive the growth of the coated steel market globally.

• Rise in the manufacturing of vehicle

The growing vehicle manufacture is directly proportional to the rising demand for the automotive parts such as coated steel, in the market. So, the growing demand for the production of vehicle is estimated to also propel the demand for the coated steel due to this it has become a standard in all type of vehicle in the global market which are expected to drive the growth of the coated steel market.

Opportunities

• Growing demand of coated steel in construction industry

Rise in demand for coated steel in the building and construction sector is increasing the growth rate of the global market. Construction activities have augmented all over the globe. According to Statistics Bureau Ministry of Internal Affairs and Communications of Japan, the country has spent US$ 30,380 Bn on building and construction in 2017, on residential buildings has spent, US$ 16,570 Bn and on non-residential buildings has spent US$ 13,810 Bn. Thus, growth in the construction industry is likely to create immense opportunities for the coated steel market in the near future.

Moreover, increasing strategic collaborations and rising the number of emerging new markets will also act as market drivers and create beneficial opportunities for the market’s growth rate.

Restraints/ Challenges

• Fluctuating prices  of raw material

Volatility in the prices of raw materials and high maintenance cost is posing a major issue to the growth of the coated steel market. Additional, uneven availability of the raw materials at one specific location is demeaning the growth of the market which are the major market restraint for the market.

This coated steel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the coated steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Coated Steel Market

The COVID-19 had a negative impact on the global economy. It has affected several industrial sectors such as coated steel by hindering their supply chain. The lockdown and shutdown has changed the behavior of retail business shuttered, international supply chains and purchase significantly across various sectors. This has adversely impacted the growth of the global coated steel market. The combination of domestic social distancing and extended lockdowns in developed market economies has deepened the adverse impact on the coated steel market. Thus, COVID-19 left a major impact on the growth of the coated steel market.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Coated Steel Market Scope

The coated steel market is segmented on the basis of type, resin type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Hot-Dip Galvanized Coated Steel
• Electro-Galvanized Coated Steel
•  Pre-Coated Steel

 Resin Type

• Polyester Color Coated Steel
• Fluoropolymer Color Coated Steel
• Siliconized Polyester Color Coated Steel
• Plastisol Color Coated Steel
•  Others

Application

• Building and Construction
• Appliances
• Automotive and Packaging
•  Fabrication

Coated Steel Market Regional Analysis/Insights

The coated steel market is analysed and market size insights and trends are provided by country, type, resin type and application, as referenced above.

The countries covered in the coated steel market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

Asia-Pacific dominates the coated steel market in terms of market share revenue. This is due to the largest coated steel market with the growing consumption from countries such as China, Japan and India.

North America will expect to fastest growing region during the forecast period of 2022-2029 due to the growing disposable income and changing lifestyle of the people along with growing priorities towards stronger parts for the vehicle for fuel efficiency.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Coated Steel Market Share Analysis

The coated steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to coated steel market.

Some of the major players operating in the coated steel market are:

• ArcelorMittal (Luxembourg)
• SSAB (Sweden)
• Salzgitter AG (Germany)
• NLMK. (Russia)
• Voestalpine AG (Austria)
• PJSC «MMK» (Russia)
• FLSmidth (Germany)
• Nippon Steel Corporation (Japan)
• United States Steel Corporation. (U.S.)
• Essar (India)
• Tata Steel (India)
• Lysvenskii Metallurgicheskii Zavod Zao (Russia)
• Jindal Steel & Power Limited (India)

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