Rolled and Drawn Steel Global Market Report 2024

The rolled and drawn steel market size has grown strongly in recent years. It will grow from $252.51 billion in 2023 to $271.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed in the historic period can be ascribed to factors such as industrialization and infrastructure development, the expansion of the automotive industry, global economic growth, trends in urbanization, and developments in the energy sector.

The rolled and drawn steel market size is expected to see strong growth in the next few years. It will grow to $346.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to the development of renewable energy infrastructure, the expansion of electric vehicles (EV), a focus on sustainable construction, the integration of smart cities and IoT, and the enforcement of stricter environmental regulations. Significant trends expected in the forecast period encompass infrastructure investments, technological innovations in steel processing, advancements in steel production technology, the integration of Industry 4.0, and the digitalization of supply chains.

The rolled and drawn steel market is poised for growth, propelled by the expanding global automotive industry. Increased demand for automotive parts to maintain vehicle aesthetics, improve longevity, and original quality is driving the demand for rolled and drawn steel. Projections from Forbes suggest a 4% increase in global auto sales to 89.7 million in 2023. The Indian automotive industry, as forecasted by the India Brand Equity Foundation, is expected to reach 282.8 billion by 2026, further driving the rolled and drawn steel market.

The rolled and drawn steel market is poised for growth due to increased investment in infrastructure. Infrastructure encompasses fundamental physical and organizational structures, and rolled and drawn steel serves as a primary material in constructing bridges, buildings, pipelines, and various structural components. According to Statistics Canada, capital expenditures on Canadian infrastructure grew by $5.7 billion in 2021, reaching a total of $108.1 billion, marking a 5.6% increase. The escalating investment in infrastructure is a driving force behind the rolled and drawn steel market.

The key trend gaining traction is product innovation. Major companies in this sector are actively engaged in developing cutting-edge products to fortify their market standing. ArcelorMittal, a Luxembourg-based multinational steel manufacturing and mining corporation, exemplifies this trend. In May 2021, they launched Granite HDXtreme, a pre-painted steel specifically crafted for harsh environments. This environmentally friendly product boasts 100% biodegradability, lacks chromates and heavy metals, and exhibits a lower carbon footprint compared to alternatives such as aluminum. Its strength is derived from a meticulous 75-m three-layer coating process, ensuring corrosion prevention, color durability, and enhanced resilience against UV rays.

Key companies in the rolled and drawn steel market are directing their focus towards developing coated steel, including antibacterial coatings, to enhance hygiene and maximize market profits. Antibacterial coating serves as a protective layer on surfaces, inhibiting the growth of harmful microorganisms and promoting hygiene. In May 2023, Novolipetsk Steel (NLMK), a Russia-based steel-making company, launched premium rolled steel featuring an antibacterial coating. Initial trials conducted by the company's partners attest to the coating's ability to safeguard the metal from harmful microorganisms, making it suitable for interior surfaces in sectors such as food and healthcare industries.

In March 2023, ArcelorMittal, a multinational steel manufacturing and mining corporation based in Luxembourg, completed the acquisition of Companhia Siderúrgica do Pecém (‘CSP’) for approximately $2.2 billion. This strategic move was intended to capitalize on steel demand growth, expand capacity, and add finishing facilities. CSP, operating in the rolled and drawn steel market, is a Brazil-based manufacturer of steel products.

Major companies operating in the rolled and drawn steel market report are KG Dongbu Steel Co. Ltd., China Baowu Steel Group Corp. Ltd., ArcelorMittal S.A., Pohang Iron and Steel Company, Nippon Steel Corporation, Baosteel Group Co., Jiangsu Shagang Group Co. Ltd., ThyssenKrupp AG, Shougang Group Co. Ltd., Nucor Corporation, Anyang Iron and Steel Group Co. Ltd., JFE Holdings Inc., Jianlong Group, Tata Steel Limited, Ansteel Group, Hesteel Group Company Limited, JSW Steel Limited, Hyundai Steel Co. Ltd., Maanshan Iron and Steel Company Limited, United States Steel Corporation, NLMK Group, Gerdau S.A., China Steel Corporation, BlueScope Steel Limited, Benxi Steel Group Corp. Ltd., Steel Authority of India Limited, Hunan Valin Steel Co. Ltd., Yieh Phui Enterprise, Rautaruukki Oyj, Barclay & Mathieson Ltd., Sabre Steel Inc., MST Steel Corp.

Asia-Pacific was the largest region in the rolled and drawn steel market in 2023. The regions covered in the rolled and drawn steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rolled and drawn steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of rolled and drawn steel comprise color-coated coils, continuous hot dip galvanized steel coils, carbon structural steel cold-rolled coils, and deep drawing cold-rolled coils. Color-coated rolled steel is a flat material painted with protective ornamental paint, produced through processes such as basic oxygen furnace (BOF) and electric arc furnace (EAF). It is widely used in automotive, construction, home appliances, machinery, and other applications.

The rolled and drawn steel market research report is one of a series of new reports that provides rolled and drawn steel market statistics, including rolled and drawn steel industry global market size, regional shares, competitors with a rolled and drawn steel market share, detailed rolled and drawn steel market segments, market trends, and opportunities, and any further data you may need to thrive in the rolled and drawn steel industry. This rolled and drawn steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rolled and drawn steel market consists of sales of cold-rolled steel, hot-rolled steel, flat steel, and cold-drawn steel products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.