Global Rolled Steel Market Assessment, By Phase [Angle Sections, Channel Section, T-Section, Round Bars, Others], By Type [Hot-Rolled, Cold-Rolled], By Application [Construction, Automotive, HVAC, Industrial, Others], By Region, Opportunities and Forecast, 2017-2031F

Global Rolled Steel Market is projected to witness a CAGR of 3.8% during the forecast period 2024-2031, growing from USD 606.93 billion in 2023 to USD 817.93 billion in 2031.

Global Rolled Steel Market Size, Share, Trends And Growth Report, 2031

Global rolled steel market is projected to witness a&nbsp;CAGR of 3.8%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 606.93 billion&nbsp;in 2023 to&nbsp;USD 817.93 billion&nbsp;in 2031. The market thrives at a strong growth rate due to a wide range of applications and easy accessibility of rolled steel. The wide range of applications along with the new rolling techniques are expected to positively affect market growth.
Rolling mills are getting more automated, using advanced tools, such as simulation software or data-driven systems, to improve accuracy in production processes. For this reason, the steel rolling plant is transformed into an automated cyber-physical system with monitoring machinery such as industrial PCs and smart sensors. Consequently, adjusting rolling pressures or temperature regulation on the spot becomes possible. It includes finite element analysis and thermo-mechanical modeling, which assist in formulating the best possible roll pass schedules and control strategies before putting a physical mill to work. Therefore, it guarantees maximum productivity and accuracy.
Modernization efforts are mainly directed towards enhancing workplace safety using compacted ventilation hoods, isolation materials that reduce noise pollution, and ergonomic materials handling devices. Hence, higher sales of rolled steel are expected during the forecast period as rolled steel delivers better ventilation while limiting the excess noise. A long range of applications, including construction and automotive applications, are expected to add value to the market growth. Higher heating, ventilation, and air conditioning (HVAC) appliance consumption has transformed motors used. Higher consumption is leading to the expansion of rolled steel facilities globally.
For instance, in November 2023, Zaporizhstal PJSC's iron and steel work production facility was set up for the production of hot-rolled steel from structural steel grades. Extending the certificate's scope will include compliance of hot-rolled products with EN 10025-1 standards for steel grades S235-275 J0-J2 and S355 J0-J2.
<h2 style="text-align: justify;">Construction, Automotive, and Healthcare Industry to Fuel the Market Growth</h2>
New buildings, bridges, roads, and other construction applications utilize rolled steel. Also, in the construction of other structures, such as beams, columns, and grids, are built using rolled steel. In developing countries, the need for better infrastructure creates a huge demand for steel beams and columns. The major user of rolled steel is the automotive sector, which makes use of the production of body panels as well as frames and other car parts. The automotive industry has been developing, especially in emerging markets where many people have disposable incomes, which leads to an increase in demand for vehicles that rely on this metal.
The need for EV motors, particularly made from rolled steel, is fuelling the demand across all regions. The emphasis on electromobility in EVs is anticipated to grow, driving the demand for rolled steel motors. As it is more cost-effective and versatile than other materials, rolled steel is a popular choice in the automobile sector. The rising healthcare industry is helping the market expand its boundaries.
For instance, in May 2023, NLMK Group&nbsp;introduced rolled steel with antimicrobial coating, a new high-end product. NLMK partners Grand Line and Albes Production Association have successfully tested the first batches of the new product. The antibacterial coating shields the metal from dangerous microbes, which makes it ideal for interior finishing in various settings, including the food and healthcare industries.
<h2 style="text-align: justify;">Cost-effectiveness and Advancements in Metal Rolling Technology to Fuel the Market Growth</h2>
Various businesses look towards paying less while obtaining a high-standard product considering utilization of rolled steel since it is cheaper than any other type of steel available. Its scope of application varies from construction to manufacturing and other industries since rolled steel is affordable and can be used for many different tasks due to its flexible nature, enabling rolling into sheets or putting together pipes or other shapes, depending on the requirements. The higher strength, precision, and smoother surface increase its participation in construction, appliance manufacturing, and other applications.
The automotive industry is seeing the development of new steel grades and properties such as advanced high-strength steel (AHSS) to satisfy their strict needs. These grades have better strength-to-weight ratios which make them appropriate for lighter-weight and high-strength applications. There are new unique rolling mill designs specifically geared towards specialized products. Such mills will have inline mills combined with shears, slitters, and rollers that are coordinated together as well as into small-diameter rolls. New techniques for rolled steel are likely to deliver enhanced material.
For instance, in May 2024, Tosyali Algeria A.S. launched a new flat-rolled steel plant. With an annual capacity of 2.2 million tons, the new flat-rolled steel facility built on an electric arc furnace was recently put into operation by the Algerian steelmaker Tosyali Algeria, a division of Tosyal Holding in Turkey.
<h2 style="text-align: justify;">Agriculture, Mining, and Automotive Applications to Fuel Hot-Rolled Segmental Growth</h2>
The hot-rolled steel segment is expected to lead the global rolled steel market. The factors leading to the dominance of the segment are cost-effectiveness, higher availability, structural applications, and smoother surface. Cold rolling a steel sheet requires more operations, than hot rolling, making it more costly. Re-heating and reforming are some of the additional processes involved in the cold working of steel which cause an increase in cost. Cold-rolled steel has limited availability in the market while hot-rolled steel is widely available for selling. hot rolled steels are found in large quantities, they can be easily procured for different projects.
Furthermore, agricultural operations comprising equipment such as grouser bars, support beams, ladders, grinding balls, and light balls fuel the segmental growth. Companies are expanding their hot-rolled steel production due to the higher demand leading to the market growth.
For instance, in July 2023, Uzbek steel plant announced that it was going to launch a new line to produce hot-rolled steel in 2024. After the project completion, Uzbekistan will be able to produce enough hot-rolled coil independently. In the second half of 2024, Uzbek Steel Plant intends to open a new line in Bekabad which will produce a hot-rolled coil using an electric arc furnace.
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<h2 style="text-align: justify;">Asia-Pacific Dominates Global Rolled Steel Market Share</h2>
Based on region, Asia-Pacific is dominated the global rolled steel market share and is expected to continue in the forecast period as well. Rapid infrastructure development is taking place in the region due to the expansion of significant economies such as China, Japan, and India. Government programs, urbanization, and industrialization are the main drivers of the growth, which raises the need for rolled steel in building projects. Some of the emerging economies are found in Asia-Pacific, where nations, such as China and India, are propelling economic expansion along with industrial growth. Rapid urbanization and industrialization in the region are driving the demand for rolled steel across several industries, including manufacturing, automotive, and construction. The need for rolled steel is rising in tandem with the expansion across many industries, including manufacturing, automotive, and construction.
For instance, in August 2023, Nagarnar Steel Plant in India led at the feat of producing its final product&nbsp;HR (Hot Rolled) Coil, 9 days after the production of Hot Metal. Quick commercialization of the Plants' output are expected to cover for the losses which new steel plants typically incur in their first year of operation.
Future Market Scenario (2024 &ndash; 2031F)
Wide range of applications, and adoption of affordable and durable materials in automotive, agriculture, and healthcare applications are expected to fuel the&nbsp;global rolled steel market growth. &nbsp;Furthermore, automation and digitization along with the advanced steel grades along with shifting consumer preference including hybridization and sustainable construction is projected to fuel the market growth.
Report Scope
&ldquo;Rolled Steel Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global rolled steel market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 3.8% between 2024 and 2031
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Revenue Forecast in 2031
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USD 817.93 billion
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Segments Covered
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Phase, Type, Application
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Worthington Industries Inc., Shanghai Metal Corporation, GNEE Multinational Trade Co. Ltd., Runfei Steel Group, MESCO Steel, Xiaoxian Ruiyi Commercial Trade Co. Ltd., J.K. Steel Strips LLP, JMT Steel (Group of Doshi Steel), Ratner Steel Supply Company, Tata Steel Ltd., JSW Steel Ltd., Nippon Steel and Sumitomo Metal Corporation (NSSMC)
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global rolled steel market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Phase
<ul>
<li>Angle Sections</li>
<li>Channel Sections</li>
<li>T-Section</li>
<li>Round Bars</li>
<li>Others</li>
</ul>
</li>
<li>By Type
<ul>
<li>Hot-Rolled</li>
<li>Cold-Rolled</li>
</ul>
</li>
<li>By Application
<ul>
<li>Construction</li>
<li>Automotive</li>
<li>HVAC</li>
<li>Industrial</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
Key participants in global rolled steel market focus on expanding the manufacturing capacity, setting-up new plants, and adopting rolling techniques. Alongside, strategic partnerships, collaboration, acquisitions, and product launches are the major elements of the market&rsquo;s strategic landscape.
In February 2023, JSW Steel Ltd. declared it would establish a fully owned subsidiary, JSW Green Steel Ltd., to produce hot-rolled and cold-rolled steel products.
Key Players Operating in the Global Rolled Steel Market are:
<ul style="text-align: justify;">
<li>Worthington Industries Inc.</li>
<li>Shanghai Metal Corporation</li>
<li>GNEE Multinational Trade Co. Ltd.</li>
<li>Runfei Steel Group</li>
<li>MESCO Steel</li>
<li>Xiaoxian Ruiyi Commercial Trade Co. Ltd.</li>
<li>K. Steel Strips LLP</li>
<li>JMT Steel (Group of Doshi Steel)</li>
<li>Ratner Steel Supply Company</li>
<li>Tata Steel Ltd.</li>
<li>JSW Steel Ltd.</li>
<li>Nippon Steel and Sumitomo Metal Corporation (NSSMC)</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
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Global Rolled Steel Market Assessment, Opportunities and Forecast, 2017-2031F

Wide range of application, expanding steel production facilities, infrastructural development across Asia-Pacific, and thriving automotive production is likely to fuel the demand for advanced material such as rolled steel in the market during the forecast period.

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