Coated Steel Market - By Type (Metallic Coated Steel [Hot-dip Galvanized (HDG), Electrogalvanized (EG)], Organic Coated Steel, Tinplate), By Application (Building & Construction, Appliances, Automotive) & Forecast, 2024 - 2032
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Chemical | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCoated Steel Market - By Type (Metallic Coated Steel [Hot-dip Galvanized (HDG), Electrogalvanized (EG)], Organic Coated Steel, Tinplate), By Application (Building & Construction, Appliances, Automotive) & Forecast, 2024 - 2032
Coated Steel Market Size
Coated Steel Market was valued at over USD 57.5 billion in 2023 and is estimated to register a CAGR of over 1.7% between 2024 and 2032, driven by advances in research and development (R&D) activities. Innovations in coating technology have resulted in improved performance characteristics, such as durability, corrosion resistance, and enhanced aesthetics. These developments are important for industries, such as construction, automotive, and electronics, where durability and reliability are paramount.
To get key market trends
For instance, in March 2024, researchers at Georgia Tech developed a lead-coated stainless steel (nSS) surface designed to prevent infection, making it ideal for use in most shared spaces. This new surface uses nano-sized needle-like materials on stainless steel for physically binding bacterial cell membranes on copper and enhancing antimicrobial activity.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Coated Steel Market Size in 2023 | USD 57.5 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 1.7% |
| 2032 Value Projection | USD 82.9 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 226 |
| Segments covered | Type, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Construction projects in particular are benefiting from innovative coating systems that provide better weather stability and durability for building components. The rapid advances in metallic coatings in the automotive industry are contributing towards making vehicle interiors lighter and more fuel efficient by improving environmental resilience. The enhanced supply chain resulting from these innovations along with R&D investments is making metal coatings more attractive in various industries, thereby driving the market expansion.
However, despite the uprising product adoption, there are several factors hindering its growth. Regulatory limitations and environmental challenges associated with recycling are leading to high production costs, environmental concerns and fluctuating prices in metal coatings. Moreover, the rising competition from new materials, such as aluminum and plastics will further limit the market expansion.
Coated Steel Market Trends
The market will further witness remarkable transformation driven by the increasing focus by leading companies on sustainability and recyclability. Environmental concerns and stringent regulations are pushing manufacturers to develop environmentally friendly coatings that do not emit volatile organic compounds (VOCs) and products with reduced visibility. Innovations in green technologies are leading to water-based and bio-based coatings, which significantly reduce the environmental footprint.
Businesses are increasingly turning to reusable, coated metals, seeing their potential to fit in with the idea of a circular economy. Coated steel not only cuts down on waste but also saves natural resources, making it a sustainable choice for industries like construction and auto manufacturing. Big players in the industry are also putting money into research and development to make durable coatings even better, which is driving growth in the market. For example, in November 2023, Dongkuk Coated Metal Company (Dongkuk CM), which is owned by Dongkuk Steel Mill Company, a cold rolling steel mill, said it had come up with the world's first way to make paint-coated steel sheets out of recycled plastic waste.
Coated Steel Market Analysis
Learn more about the key segments shaping this market
Get ready, because the popularity of super-strong, shiny steel is about to skyrocket! By 2032, experts believe that these steel superheroes will be worth over 63.4 billion dollars. Why the hype? Because they're like armor for your buildings, cars, and other stuff that needs to stand the test of time. Coatings like zinc and aluminum create a shield that protects against rust and corrosion, making these steel titans last longer and cost less to maintain. Not only that, but these coated steels look amazing and are packed with fancy features that architects and car designers love. They meet all the tough standards and regulations, so you can trust them to be top-notch. And the cherry on top? As we get smarter about coating technologies and taking care of the environment, these coated steels are only going to get even better and more popular. So, if you're looking for something that's both tough and stylish, coated steel is your go-to choice!
Learn more about the key segments shaping this market
Hey there! Get ready, because the construction business is booming! By 2032, they're saying it'll be worth over 49 billion bucks. Coated steel is like the superhero of construction materials, because it can deal with anything Mother Nature throws at it. It's perfect for roofs, walls, and other building parts because it lasts forever, saves you money on maintenance, and makes your buildings look sharp. Not only that, but technology has made coated steel available in all sorts of fun colors and styles, so it's not just good for your building, it looks amazing too. And because it's lightweight and easy to put up, you can build faster and cheaper. As we start caring more about saving the planet and making our buildings work better, the need for coated steel is only going to go up. It's like the perfect fit for green building and energy-saving goals.
Looking for region specific data?
The Asia Pacific region's coated steel industry is a huge player, with a market value of over $23 billion in 2023. And it's projected to keep growing, hitting an impressive $35 billion by the end of 2032. This rapid growth is being fueled by a number of factorsConstruction boomCountries like China, India, and Japan are investing heavily in construction projects, leading to a surge in demand for coated steel. Automotive and manufacturing industries These industries also rely on coated steel for their products, boosting the market's growth even further. Rising population and disposable incomesAs these countries' populations grow and their incomes rise, people are demanding more durable and visually appealing building materials like coated metals. Government support Governments in the region are also pushing for sustainable and resilient infrastructure, encouraging the use of coated steel for its durability and corrosion resistance. Advancements in technology New manufacturing processes are making it more cost-effective to produce coated steel, further supporting the market's growth. All these factors are driving the rapid expansion of the Asia Pacific coated steel market, and it's a trend that's expected to continue for years to come.
Coated Steel Market Share
The coated steel industry is witnessing an exponential growth in demand driven by the concerted efforts of key companies in the industry. Companies like ArcelorMittal, POSCO and Tata Steel are investing heavily in R&D to advance coating technology. Innovations, such as environmentally friendly coatings durable materials, high performance, and advanced corrosion resistance are highlighted by these companies. Additionally, they are meeting stringent industry standards and environmental regulations, leading to more product demand.
Coated Steel Market Companies
Major companies operating in the coated steel industry include
- ArcelorMittal
- Baosteel Group
- ChinaSteel
- Essar Steel
- JFE Steel Corporation
- JSW
- Kobe Steel Ltd.
- Nippon Steel Corporation
- Nucor
- OJSC Novolipetsk Steel
- POSCO
- Severstal
- SSAB AB
- Tata Steel
- Voestalpine AG
Coated Steel Industry News
- In May 2024, Tata Metal Lestari presented a sustainable coated steel at Sydney Build Expo 2024, Australia’s premier construction and design show which focuses on innovation, sustainability and diversity,
- In January 2024, at their launch event in Pune, Tata Bluescope Steel, a leader in color coated steel, launched its 'Shelter for All' scheme. This was a significant step to expose the company’s corporate responsibility with compassion.
- In February 2024, Wheeling Nippon Steel and its employees commemorated a remarkable accomplishment in the company and the industry history. The company reached a milestone by placing a coating on its 20 millionth steel plate, which equates to a staggering 40 billion pounds of steel, to date.
The coated steel market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2021 to 2027 for the following segments
By Type
- Metallic Coated Steel
- Hot-dip Galvanized (HDG)
- Electrogalvanized (EG)
- Others
- Organic Coated Steel
- Tinplate
By Application
- Building & Construction
- Appliances
- Automotive
- Others
The above information is provided on a regional and country basis for the following
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Vietnam
- Thailand
- Latin America
- Brazil
- Mexico
- Chile
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
- UAE
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Key manufacturers
3.1.2 Distributors
3.1.3 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing demand in the construction Industry
3.2.1.2 Growth in the automotive Industry
3.2.1.3 Technological advancements and innovation
3.2.2 Market challenges
3.2.2.1 Environmental and regulatory compliance
3.2.3 Market opportunity
3.2.3.1 New opportunities
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.2 Technology evolution
3.3.2.1 Sustainable manufacturing
3.3.2.1.1 Green practices
3.3.2.1.2 Decarbonization
3.3.3 Sustainability in raw materials
3.3.4 Pricing trends (USD/Ton)
3.3.4.1 North America
3.3.4.2 Europe
3.3.4.3 Asia Pacific
3.3.4.4 Latin America
3.3.4.5 Middle East & Africa
3.4 Regulations & market impact
3.5 Porter’s analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Type, 2021-2032 (USD Million, Tons)
5.1 Key trends
5.2 Metallic coated steel
5.2.1 Hot dip galvanized (HDG)
5.2.2 Electrogalvanized (EG)
5.2.3 (Galfan, Galvalume &Aluminized)
5.3 Organic coated steel
5.4 Tinplate
Chapter 6 Market Size and Forecast, By Application, 2021-2032 (USD Million, Tons)
6.1 Key trends
6.2 Building & construction
6.3 Appliances
6.4 Automotive
6.5 Others
Chapter 7 Market Size and Forecast, By Region, 2021-2032 (USD Million, Tons)
7.1 Key trends
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 France
7.3.4 Italy
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.4.5 Australia
7.4.6 Rest of Asia Pacific
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Argentina
7.5.4 Rest of Latin America
7.6 MEA
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 South Africa
7.6.4 Rest of MEA
Chapter 8 Company Profiles
8.1 ArcelorMittal
8.2 Essar Steel
8.3 POSCO
8.4 Voestalpine AG
8.5 JFE Steel Corporation
8.6 Nippon Steel Corporation
8.7 OJSC Novolipetsk Steel
8.8 Baosteel Group
8.9 SSAB AB
8.10 Severstal
8.11 JSW
8.12 ChinaSteel
8.13 Kobe Steel Ltd
8.14 Nucor
8.15 Tata Steel
- ArcelorMittal
- Baosteel Group
- ChinaSteel
- Essar Steel
- JFE Steel Corporation
- JSW
- Kobe Steel Ltd.
- Nippon Steel Corporation
- Nucor
- OJSC Novolipetsk Steel
- POSCO
- Severstal
- SSAB AB
- Tata Steel
- Voestalpine AG
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