The global coated steel market is expected to register a CAGR of over ~5% during the forecast period to cross ~USD 30 billion by 2023
Coated steel refers to the steel products with a layer of coating which can be either metallic or colored. Polyester is the most commonly used resin for color-coated steel products, whereas aluminum-zinc is widely used in metallic-coated steels products. Coated steels are used across an array of end-use industries for applications such as roofing and cladding, furniture, sandwich panels, light fittings, and others.
JSW (India), ArcelorMittal (Luxembourg), SSAB (Sweden), POSCO (South Korea), JFE Steel Corporation (Japan), NLMK (Russia), NIPPON STEEL & SUMITOMO METAL CORPORATION (Japan), Essar (India), Tata Steel (India), thyssenkrupp AG (Germany), Salzgitter Flachstahl GmbH (Germany), and Uttam Galva Steels Limited (India)
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The prime factor expected to drive the growth of the global coated steel market is its increasing demand in the end-use industries such as construction, automotive and electrical and electronics industries. Also, the increasing preference for color-coated steel over metallic-coated steel in the construction industry for roofing and cladding application is expected to drive the product demand. The latter demand is attributed to the various advantages of coated steel such as longevity, handling, aesthetics, and resistance to varying weather conditions. Hence, the increasing investments in infrastructural developments and residential constructions across the globe are expected to drive the demand for coated steel.
The global coated steel market has been segmented based on type, coating type, end-use industry, and region. By type, the global market has been divided into color-coated steel and metallic-coated steel. The color-coated steel segment accounted for the largest market share and is expected to register the highest CAGR during the forecast period. The demand is attributed to its increasing demand in the construction industry for both exterior and interior applications.
Based on coating type, the global market has been divided into polyester, polyvinylidene fluoride, epoxy, polyvinyl chloride, polyurethane, pure aluminum, aluminum-zinc, pure zinc, and others. The polyester segment is further sub-divided into regular modified polyester, silicone modified polyester, and super durable polyester. The polyester segment accounted for the largest market share in the global coated steel market in terms of tonnage and value due to its excellent resistance to different weather conditions and has smooth surface finishing.
Based on end-use industry, the global market has been segregated into building and construction, automotive, industrial machinery, electrical and electronics, consumer goods, and others. The building and construction industry accounted for the largest market share in terms of tonnage and value. The latter is followed by the automotive segment in 2017. The increasing demand for color-coated steel in applications such as roofing, cladding, and other applications in residential and commercial construction is expected to drive the market.
The global coated steel market has been classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific is expected to account for the largest share of the global coated steel market on account of the growing end-use industries in the region, especially the construction, automotive and electrical appliances.
North America and Europe are expected to be the prominent markets for coated steel due to the increasing demand in the automotive, and construction. The regional markets are expected to maintain close demands during the forecast period.
The Latin American and the Middle East & African markets are likely to register healthy growth during the review period as a result of the growing end-use industries in the regions.
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- Coated Steel Manufacturers
- Traders and Distributors of Coated Steel
- Research and Development Institutes
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratories
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