Flat Steel Market – Market Overview
Flat steel is referred as the sheet, coils or other flat-rolled steel product. Flat steels are known for their hardness, deformation and resistance to abrasion. Flat steel provides certain benefits such as high resistance to wear, good thermal conductivity and good hardenability, cost-effective machinability and excellent polishing and acid-treatment properties. These properties makes flat steel suitable for use by various end use industries including Automotive industry, Mechanical and plant engineering, Power-generation, Aviation, Food and packaging industry, Structural and civil engineering and Mining, thereby driving the growth of the market. One of the key emerging trends in steel service industry is the need to eliminate internal stresses in sheet and plate.Developing economies such as India, China, Indonesia and Brazil have a wide
opportunity for the use of tools. Indonesia is emerging as one of the leading economies of Asia with a substantial growth rate and fast paced development. In order to sustain stable growth and development in infrastructure sector, the government has started investing in this sector. This will lead to huge development in infrastructure projects. The increase in infrastructure sector will create an increased opportunity in developing nation for flat steel market. The Flat Steel Market size was valued at around USD 380 Billion in 2015 and is expected to grow at CAGR of 6% by
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.
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Flat Steel Market – Competitive Analysis
Flat steel market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, manufacturers strive to develop products that can deliver optimal adhesion, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of products for flat steels for every application.
Industry/ Innovation/ Related News:
6 October 2015: United States Steel announced possible consolidation of flat-rolled operations. The company worked closely with its customers and continued to operate its steelmaking operations in Indiana, Michigan and Pennsylvania.
5 MAY 2017: Essar Steel, signed a long-term supply agreement with global major Posco for the supply of 1.1 million tonne of flat steel products during the current financial year.
20 September 2017: ThyssenKrupp AG and Tata Steel Ltd. reached a tentative deal to merge their European steel businesses to create the continent’s No.2 steelmaker after ArcelorMittal.
5 January 2017– Brazilian flat steel producers have notified distributors they are raising prices of hot- and cold-rolled steel between 8 percent and 10 percent.
Market Research Analysis
The market is highly application based. The factors contributing to the growth of the flat steel market are, surge in construction & infrastructural activities, and growing transport & renewable energy sector. The market is expected to have higher growth rate as compared to the previous years. Asia-Pacific is the largest region for the flat steel market, followed by Europe.
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