What is Coated Steel Market?
Coated steel is steel surface is coated with an additional layer of organic or metallic materials to protect from rusting, is known as coated steel. This Coated steel is utilized in various applications where corrosion resistance, aesthetic appearance, or food safety is essential. The construction sector plays a major role as an end-user for metallic coated and organic coated steel. With the rapid growth in urbanization and rising population are developing new markets for coated steel products in the construction sector. As per the United Nations Department of Economic and Social Affairs, early 55% of the global population lives in urban areas.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Tata Steel (India), ArcelorMittal (Luxembourg), Safal Group (Kenya), JFE Steel (Japan), Shandong Guanzhou (China), Hysco (South Korea), Amcan (United Arab Emirates), ThyssenKrupp (Germany), Colourcoil Industries (Malaysia) and ESSAR Group (India) |
The market study is being classified by Type (Polyester, Fluoropolymer, Siliconized Polyester, Plastisol and Others), by Application (Building & Construction, Appliances, Automotive and Others) and major geographies with country level break-up.
The increasing demand from companies to draw innovative ways to market their products or services has led to the increasing popularity of the coated steel. Rising investments in manufacturing technology have also led to the growth of the coated steel market. Currently, the market of coated steel mostly is fragmented in North America. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Coated Steel market throughout the forecasted period.
Tata Steel (India), ArcelorMittal (Luxembourg), Safal Group (Kenya), JFE Steel (Japan), Shandong Guanzhou (China), Hysco (South Korea), Amcan (United Arab Emirates), ThyssenKrupp (Germany), Colourcoil Industries (Malaysia) and ESSAR Group (India) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Yieh Phui Enterprise (Taiwan), Dongkuk Steel Mill (South Korea) and Dongbu Steel (South Korea). Segment Analysis
Analyst at AMA Research have segmented the market study of Global Coated Steel market by Type, Application and Region.
On the basis of geography, the market of Coated Steel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Requirement from Various Industries
- Rigid Competition in the Color Coated Steel Industry
- Rapid Development in Construction, Automotive, and Appliance Industries
- Inexpensive than Electro Galvanizing Process
Market Trend
- Increase in Market Competencies
Restraints
- Disruption in Transportation
- Demand-Supply Gap Across Europe and Other Crisis Restraining the Color Coated Steel Market
Opportunities
- Growing Opportunities for Steel and Aluminum Protected Skyscrapers in the Middle East Countries
Challenges
- Cost Reduction
- Fluctuation in Prices of Raw Materials
In Apr 2021, Nippon Steel announced the launch of ZAM-EX, highly corrosion-resistant coated steel sheets for overseas markets. Through this initiative, the company is becoming more competent in the market, and gain major market share.