Coated Steel Market: Information by Type (Color-Coated Steel, Metallic-Coated Steel), Coating (Polyester, Epoxy, Polyurethane, Pure Zinc, Pure Aluminum, Aluminum Zinc), End-Use Industry (Automotive, Electrical and Electronics, Building & Construction), and Region — Global Forecast till 2030
ID: MRFR/CnM/6149-HCR | February 2021 | Region: Global | 140 pages
Speak to Analyst
Request a Free Sample
Market Overview
The global coated steel market is expected to register a CAGR of over ~5% during the forecast period to cross ~USD 30 billion by 2027
Coated steel refers to the steel products with a layer of coating which can be either metallic or colored. Polyester is the most commonly used resin for color-coated steel products, whereas aluminum-zinc is widely used in metallic-coated steels products. Coated steels are used across an array of end-use industries for applications such as roofing and cladding, furniture, sandwich panels, light fittings, and others.
The prime factor expected to drive the growth of the global coated steel market is its increasing demand in the end-use industries such as construction, automotive and electrical and electronics industries. Also, the increasing preference for color-coated steel over metallic-coated steel in the construction industry for roofing and cladding application is expected to drive the product demand. The latter demand is attributed to the various advantages of coated steel such as longevity, handling, aesthetics, and resistance to varying weather conditions. Hence, the increasing investments in infrastructural developments and residential constructions across the globe are expected to drive the demand for coated steel.
Automotive is another prominent end-user of coated steel, metallic coated steels are widely used in the automobile industry in the production of various components such as body and closure panels, interiors, crash components, structural reinforcements, and others. The various advantages of metallic coated steel in automobiles include good structural integrity of components, resistance against corrosion, and others. With steel still being the most preferred material in automobile production across the globe, increasing vehicle production is expected to drive the demand for coated steel during the forecast period.
Furthermore, increasing consumption of coated steel in consumer goods and electrical appliances is expected to drive the demand during the forecast period considering the increasing populace and growth of latter end-use industries, especially in the developing markets.
However, the fluctuations in coated steel prices and supply–demand imbalance is expected to hamper the global market growth during the forecast period.
Global Coated Steel Market Share, by Type, 2017 (%)
Source: MRFR Analysis
Regional Analysis
The market in Asia-Pacific held the largest share of the global coated steel market in 2017 and is expected to register a higher CAGR during the review period. The increasing infrastructural developments in the region along with the need for cost-effective and aesthetically promising construction materials for interiors and exterior applications is driving the product demand. The expanding automotive industry in the region coupled with the growth of the automotive aftermarket in the region is the other market impetus factors expected to drive the demand for coated steel. Besides, the electrical and electronics industry is growing significantly in the ASEAN region, which is expected to propel the demand for coated steel during the forecast period.
The European market is also expected to grow under the purview of recovering demand steel among different end-users and presence of large number of automotive OEMs in the region.
The North American market is expected to register a healthy CAGR due to the rising demand for coated steel in major end-use industries, such as construction and automotive.
The Latin American market is expected to witness considerable growth due to the growing automotive industry and demand for consumer goods. The market in the Middle East & Africa is likely to exhibit considerable growth during the review period on account of growing construction and industrialization in the region.
Segmentation
The global coated steel market has been segmented by type, coating type, end-use industry, and region.
Based on type, the global market has been segmented into metallic-coated steel and color-coated steel.
By coating type, the global market has been divided into polyester, poly vinylidene fluoride, epoxy, polyvinyl chloride, polyurethane, pure aluminum, aluminum-zinc, pure zinc, and others. The polyester segment is further sub-divided into regular modified polyester, silicone modified polyester, and super durable polyester.
On the basis of end-use industry, the global market has been segregated into building and construction, automotive, electrical and electronics, industrial machinery, consumer goods, and others.
The global coated steel market, by region, has been studied concerning five regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
Some of the key players operating in the global coated steel market are JSW (India), ArcelorMittal (Luxembourg), SSAB (Sweden), POSCO (South Korea), JFE Steel Corporation (Japan), NLMK (Russia), NIPPON STEEL & SUMITOMO METAL CORPORATION (Japan), Essar (India), Tata Steel (India), thyssenkrupp AG (Germany), Salzgitter Flachstahl GmbH (Germany), and Uttam Galva Steels Limited (India).
Intended Audience
- Coated Steel Manufacturers
- Traders and Distributors of Coated Steel
- Research and Development Institutes
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratories
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 5%(2022-2030 |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Coating type, End-use industry, and Region |
| Geographies Covered | Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa |
| Key Vendors | JSW (India), ArcelorMittal (Luxembourg), SSAB (Sweden), POSCO (South Korea), JFE Steel Corporation (Japan), NLMK (Russia), NIPPON STEEL & SUMITOMO METAL CORPORATION (Japan), Essar (India), Tata Steel (India), thyssenkrupp AG (Germany), Salzgitter Flachstahl GmbH (Germany), and Uttam Galva Steels Limited (India) |
| Key Market Opportunities | Automotive is another prominent end-user of coated steel, metallic coated steels are widely used in the automobile industry |
| Key Market Drivers | Increasing demand in the end-use industries such as construction, automotive and electrical and electronics industries |
Frequently Asked Questions (FAQ) :
The valuation of the global coated steel market is estimated to reach approximately USD 30 BN by 2023.
At what CAGR is the global coated steel market projected to grow in the forecast period (2018-2023)?
coated steel market is expected to register approximately 5% CAGR during the assessment period (2018-2023).
By type, the color-coated steel segment and by coating type, the polyester segment accounts for the major share in the global coated steel market.
Asia Pacific holds the largest share in the global coated steel market, followed by North America and Europe, respectively.
ArcelorMittal (Luxembourg), JSW (India), SSAB (Sweden), JFE Steel Corporation (Japan), POSCO (South Korea), NLMK (Russia), Essar (India), NIPPON Steel & SUMITOMO Metal Corporation (Japan), Thyssenkrupp AG (Germany), Tata Steel (India), Salzgitter Uttam Galva Steels Limited (India), and Flachstahl GmbH (Germany), are some of the major players operating in the coated steel market.
