Global Flat Steel Market to Grow at 4.6% During 2024-2032, Spurred by Expanding Construction and Automotive Industries

November 09, 2021 | Chemical & Materials

As per the latest report by IMARC Group, titled “Flat Steel Market Report by Product (Sheet and Strips, Plates), Material (Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel), Application (Building and Infrastructure, Automotive and Other Transport, Mechanical Equipment, and Others), and Region 2024-2032,” the global flat steel market reached a value of US$ 497.0 Billion in 2023. Flat steel refers to thin sheets or plates of steel rolled from semifinished steel slabs, billets and ingots. Some most commonly used flat steel products are hot-rolled and cold-rolled sheets, heavy plates, coated steel, slabs, billets, wire rods, blooms, and bars. Since these products are eco-friendly, cost-effective, and energy-efficient, they are widely utilized to manufacture consumer durables, truck trailers, electrical cable trays, strips, and structural beams. They also improve the durability, strength, quality, anti-corrosion properties, design flexibility, and ductility of the product while enhancing their overall service life. As a result, flat steel finds extensive applications across the construction, automotive, packaging and manufacturing industries.

Global Flat Steel Market Trends:

The expanding construction and automotive industries represent the primary factors driving the global market. With the rising residential and commercial construction activities, flat steel is extensively being used in high and low-rise buildings, security fencing, bridge deck plates, cladding and roofing, harbors, and coastal and flood defense systems. Additionally, the rising adoption of flat steel for manufacturing automobile structures, engine blocks, panels, doors, fuel tanks, gears, suspensions, braking systems, wheels, and steering, has catalyzed the market growth. Besides this, automobile manufacturers are increasingly utilizing flat and advanced high strength steel (AHSS) to reduce the overall weight and enhance the fuel efficiency of vehicles. This, in confluence with the growing usage of recycled steel scrap, is creating a positive market outlook. Furthermore, the implementation of favorable government policies, rising automobile sales, and increasing infrastructural development across the globe are some of the other factors bolstering the market growth. Looking forward, the market is projected to grow at a CAGR of 4.6% during the forecast period (2024-2032).

Market Summary:

  • Based on the product, the market has been bifurcated into sheets and strips, and plates.
  • On the basis of the material, the market has been divided into carbon, alloy, stainless and tool steel.
  • Based on the application, the market has been classified into building and infrastructure, automotive and other transport, mechanical equipment, and others.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Allegheny Technologies Incorporated, ArcelorMittal S.A. (Mittal Steel Company), China Steel Corporation, Hyundai Steel Co. Ltd., JFE Steel Corporation (JFE Holdings, Inc.), Nippon Steel Corporation, POSCO, SSAB AB, Tata Steel Ltd., ThyssenKrupp AG, United States Steel Corporation, and voestalpine Stahl GmbH (voestalpine Group).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Material, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Allegheny Technologies Incorporated, ArcelorMittal S.A. (Mittal Steel Company), China Steel Corporation, Hyundai Steel Co. Ltd., JFE Steel Corporation (JFE Holdings, Inc.), Nippon Steel Corporation, POSCO, SSAB AB, Tata Steel Ltd., ThyssenKrupp AG, United States Steel Corporation, and voestalpine Stahl GmbH (voestalpine Group)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Flat Steel Market to Grow at 4.6% During 2024-2032, Spurred by Expanding Construction and Automotive Industries
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More