The total revenue of steel framing market in 2017 was estimated to be $111.59 mn and it is expected that it will rise at a CAGR of 3.4% till 2023.
Residential, non-residential and new infrastructure projects, such as bridges and airports, railway stations along with the growth of commercial/industrial businesses are driving the need for steel construction. Steel framing is applied in various functional needs commercial and residential buildings. With both the infrastructure and real estate sectors demanding construction solutions that offer a combination of economy, strength and speed, while also wanting aesthetically pleasing buildings, light steel construction solutions offered by element have come as a boon.
What is Steel Framing?
Steel framing may be defined as a building technique having a skeleton frame that is made up of vertical steel columns and horizontal I-beams, constructed in a rectangular grid to support the floors, roof and walls of a building which are all attached to the frame. Steel framing is a helps to overcome many of the limitations that builders face today while using traditional building materials due characteristics such as non-combustibility, termite resistance, and dimensional stability can lower construction and home ownership costs. Multistory steel frame construction is common feature in high towering structures.
What are the major applications for Steel Framing?
Steel frame structures are very well suited to build dwellings of the highest standards as it offers thermal insulation as well as acoustical insulation. Due to high durability of steel frames and availability of prefabricated steel frames quality and speed of construction are very high as compared to conventional framings. Architectural freedom of steel frames allows the designs to be specifically made for various applications. Besides construction steel framing techniques are used to build furniture. Galvanized steel frames are preferred to erect mobile communication towers due to strength and inertness. Automotive manufacturing units and solar structure designers are also incorporating steel framing in their designs these days due to flexibility and ease of handling.
Steel Framing Market
Market Research and Market Trends of Steel Framing Ecosystem
The versatile demand from customers has forced the manufacturers to concentrate on designs by incorporating BIM.BIM technology has assisted in incorporation of precise information on wall elements and design properties, such as UL assemblies based on fire-rating requirements, STC sound ratings and limiting height design in an intelligent way. Manufacturing advancements coupled with redesigns of the basic stud profile have resulted in products that have attained the same or greater limiting heights as standard thickness members. Steel studs are now available for complex structures such as curved walls also.
EQ Coatings that are specialized, high-performance coatings are among the biggest advancements to cold-formed steel members in recent years. They are added to the corrosion resistance of the existing base coating of steel framing members; in many cases exceeding the performance of traditional G40 steel. In support of the mission of sustainable construction EQ studs studs can now be produced using less steel with improved yield strength than that of traditional steel. Even, the industry’s currently most recognized name in steel framing, the ProSTUD® Drywall Framing System is an EQ stud.
Pre-engineered systems such as RedHeader PRO reduce the number of components needed to frame rough openings. Such innovations have significantly leaded to reduction of the on-site labor for assembling multiple window or door structures. Integrated steel framing systems, such as those developed with passive fire-stop technology are also being incorporated into the steel framing members. They save time and help ensure enhanced safety to inhabitants’.
There are now mobile apps also available due to intervention of IT sector which help architects and contractors in evaluating decisions for sale and purchase. They assist in product selection for steel framing projects, including access to cost-saving calculators and submittal forms. Steel joists offer consistent quality, predictable performance and high strength-to-weight ratio, and they are dimensionally stable. They resist contraction, warp, crack or twist which makes them perfect for use in both residential and commercial projects.
The construction industry has recovered from the recession, and total construction employment has rebounded. The evolution in design and construction functions has taken place simultaneously during the past few years. There has been a transition from electronic drafting towards high-resolution digital modeling. Ubiquitous digital connectivity, cloud computing, 3-D printing and big data have been the drivers responsible for the current engineering, architecture, fabrication, construction and other related disciplines. These technologies are further expected to aid growth of steel framing market.
Who are the Major Players in Steel Framing market?
The players profiled in the report include Saint-Gobain S.A.,Bluescope Steel Limited, ClarkDietrich Building Systems, Zamil Steel Pre-Engineered Buildings Co. Ltd, CEMCO, ClarkDietrich Building Systems, Quail Run Building Materials, Inc., California Steel Industries, Inc., Clar Company, Ram Steel Framing.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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