Global Structural Steel Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|全球結構鋼市場：2021-2028 Global Structural Steel Market - 2021-2028|
|出版日期: 2021年08月12日||內容資訊: 英文 180 Pages||
本報告調查了全球結構鋼市場，按細分/地區對市場規模和增長率的市場、趨勢和預測、新型冠狀病毒感染 (COVID-19) 的影響分析以及市場增長進行了概述。它提供了分析促進因素和限制因素、市場機會、競爭條件、主要公司的概況等。
Structural Steel Market Overview
The structural steel market size was worth US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Structural steel is widely used to construct residential & commercial buildings, warehouses, aircraft, hospitals, school buildings, metro stations, stadiums, bridges, etc. Structural steel also offers applications in freight cars, construction equipment, truck parts, machinery, crane booms, transmission towers, truck frames. The structures used in the construction projects need structural steel design components such as channels, angles, beams, and plates. Structural steel is gaining high emphasis due to its ductility, variety of shapes, thicknesses and customization to meet specific building needs. Structural steel offers numerous advantages over others, such as ease of design, enhanced productivity, sustainability, accelerated schedules, future adaptability, quality and predictability.
Structural steel materials are segmented based on the strength, compositions and yield pressure in the countries. U.S specifies steel grades based on ASTM International. Likewise, Asia and Europe have their regulating bodies and standards.
Structural Steel Market Dynamics
The global structural steel market growth is driven by the construction of tall buildings and stadiums, increasing urbanization in developing countries, statutory standards on structural steel and high demand from the renovation of buildings.
The construction of tall buildings and stadiums are expected to drive market growth
The rapid growth of tall buildings and stadiums will create a high demand for the structural steel market. According to the American Institute of Steel Construction report, structural steel contains 47% of all construction materials for designing structures, buildings, stadiums or bridges. In 2020, the American Institute of Steel Construction had selected nine winning projects for Innovative Design in Architecture and Engineering with Structural Steel Awards, regarded as the highest honor in the U.S. structural steel industry.
Structural steel has been used at high rates for constructing stadiums and structures globally, such as the World's largest stadium has been constructed in India named Sardar Patel Stadium in 2021. The stadium has used 11,000 tons of steel rebars to construct roofs, primary radial beam, vomitory staircases. In 2020, Allegiant Stadium, the new home to the Raiders football team, completed its structural steel topping construction milestone. Also, upcoming sports events such as FIFA World Cup 2022 will create opportunities for the structural steel market over the coming years in the Middle Eastern region.
The continuous hike in steel prices is likely to hinder the structural steel market growth
The structural steel market is impacted by the shortage of supplies and high demand from the industry resulting in high steel prices. Various countries observed a hike in steel prices for more than 160% in 2020 and the hike is expected to remain by 2022, is one of the major factor responsible for restraining the market growth.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the structural steel industry have seen a notable impact as all the production work, factories and other activities were closed. The production was hindered by halts and supply chain disruption globally. After the pandemic, the governments still imposed various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market. The losses in the structural steel sector are incorporated with the reduced demand from construction, transportation, energy and other associated industries.
After the pandemic, structural steel is expected to encounter high demand to recover from the covid-19 losses. But the market has been restrained by the lower production due to the government norms and high demand from China, India, US and other emerging markets resulting in the all-time unprecedented high steep increase in the prices.
Structural Steel Market Segment Analysis
By grade, the structural steel market is broadly classified into low carbon grade, medium carbon grade and high carbon grade steel.
The low carbon grade steel is expected to grow at the fastest CAGR during the forecast period (2020-2027)
The low carbon grade is expected to hold the largest market for the structural steel market due to the high tensile points, ductility and presence of alloys resulting in the increased strength and machinability. According to the ASTM standards, A36 and A572 structural steel grades are primarily used in building construction. The structural steel with 0.04% to 0.30% carbon content can cover a great diversity of shapes from structural beams to flat sheets, depending on the demand. With the increasing construction sector and demand for innovative structural steel shapes, the demand for low-grade structural steel is also expected to grow. For instance, the global construction sector is forecasted to grow by 85% to $15.5 trillion worldwide by 2030, China, US and India leading the market. Rebar is the most common material for the construction industry.
Structural Steel Market Geographical Analysis
Asia Pacific region holds the largest market for global structural steel globally
Asia Pacific region holds the largest market share for the structural steel market globally and is expected to continue its dominance in the forecast period. China has been the largest steel producer globally every year, producing more than half of the world's steel. According to World Steel Association, China produced 996.3 Mt of steel in 2019, contributing 53.3% to the global steel market. India has also replaced Japan as the world's second-largest steel producing country due to increasing urbanization in the country. The region posses a high demand for structural steel due to high investments in construction activities. The leading market players have been investing in the region to mark presence in region. For instance, in 2019, ArcelorMittal and Nippon Steel's joint venture completed the acquisition of Essar Steel India Limited worth $5.7 billion.
The growing construction of high-rise buildings in the region is also a significant factor in the spike in demand for structural steel. According to the Council on Tall Buildings and Urban Habitat, 18 new skyscrapers were built in 2018, 76% of the completion of the building was observed in Asia, wherein China was the leading country for such buildings with the construction of around 23000 meters height.
Structural Steel Competitive Landscape
The structural steel market is highly competitive and consolidated with the presence of global companies, contributing to the significant share in the market growth. In addition, some of the key players contributing to the growth of the market are SteelFab Inc, Arcelor Mittal S.A., Benxi Beiying Iron & Steel Group Co. Ltd., Baogang Group, Bohai Steel Group Co. Ltd, Gerdau S.A, Hebei Steel Group, Nippon Steel & Sumitomo Metal Corporation JSW Steel Limited, Tata Steel Limited, Baosteel Group Corporation and others. The major players are adopting various new strategies to dominate the market, such as providing additional services, acquisitions and collaborations, contributing to the growth of the structural steel market globally.
Overview: SteelFab Inc is an AISC certified fabricator providing structural steel and taking both small & large projects in the U.S. The company has more than 1,200 employees working in 15 locations across the Southeast, Texas and Oregon.
Product Portfolio: The Company offers resources and expertise to handle challenging projects including project delivery methods, fabrications, connection designs, BIM, project management and subcontract erection.
Key Development: In 2020, SteelFab Inc. plans to expand its structural steel facility in east Alabama with a $23.6 million project for future growth. The company will expand the plant's fabrication building by 40,000 square feet, add 11,000 square feet.
The global structural steel market report would provide access to an approx: 77 market data table, 85 figures and 240 pages.
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