Hot-Rolled Steel Coil Market Report 2026

The hot-rolled steel coil market size has grown steadily in recent years. It will grow from $198.67 billion in 2025 to $207.56 billion in 2026 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to expansion of construction and infrastructure activities, growth in shipbuilding and marine industries, increasing demand from oil and gas sector, adoption of hot rolling for cost-effective steel production, availability of low-carbon steel grades.

The hot-rolled steel coil market size is expected to see steady growth in the next few years. It will grow to $244.3 billion in 2030 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rising investments in smart infrastructure development, growing automotive production and electrification, increasing demand for hsla and alloy steel coils, expansion of industrial equipment manufacturing, focus on sustainable and recyclable steel materials. Major trends in the forecast period include rising demand for structural steel in infrastructure projects, growing adoption of high strength low alloy coils, increasing use of hot-rolled coils in automotive frames, rising preference for thick gauge coils in heavy engineering, growing demand for pressure vessel and boiler quality coils.

The rising demand for construction and infrastructure initiatives is anticipated to drive the expansion of the hot-rolled steel coil market. These initiatives involve the planning and building of physical frameworks and systems essential for transportation, utilities, and public services. The surge in such projects is primarily due to increasing urban populations, as growing cities need enhanced transportation networks, sufficient housing, and improved public utilities to support the needs of their residents. Hot-rolled steel coil is advantageous for these developments because it can be manufactured in large quantities with consistent specifications, making it ideal for structural uses that require uniformity and scalability. For example, in June 2025, a report by the Department for Business and Trade, a UK-based government entity, stated that total new construction orders in the first quarter of 2024 increased by 15.9% ($1,926 million (£1,436 million)) compared to the final quarter of 2023. As a result, the growing demand for construction and infrastructure development is fueling the growth of the hot-rolled steel coil market.

Leading companies in the hot-rolled steel coil industry are concentrating on expanding their facilities to introduce new technologies or capabilities while continuing operations at current sites. Expanding a facility involves enlarging an existing location to accommodate growing operations or prepare for future increases in demand. For instance, in May 2025, Uzmetkombinat, a steel manufacturer based in Uzbekistan, commenced operations at its newly constructed hot-rolled steel facility in Bekabad. The expansion enables the facility to produce over 1 million tons of hot-rolled steel annually, helping reduce dependence on imports and boosting export potential. Its integrated production line allows semi-finished inputs to be processed without reheating, thereby enhancing energy efficiency. The facility includes a 120-ton electric arc furnace, a continuous casting unit, and a rolling mill designed for large-scale production. It also features advanced filtration and energy-efficient systems to reduce environmental impact.

In July 2024, Cleveland Cliffs Inc., a steel producer based in the United States, acquired Stelco Holdings Inc. for $2.5 billion. This acquisition expanded Cliffs’ steel manufacturing capabilities and increased its presence in the flat-rolled steel market, resulting in cost advantages in raw materials, energy, healthcare, and currency. The acquisition also strengthened Cliffs’ operational performance and broadened its customer reach while allowing cost reductions through better procurement practices, lower overhead, and reduced public company-related expenses. Stelco Holdings Inc. is a Canadian producer of hot-rolled steel coils.

Major companies operating in the hot-rolled steel coil market report are ArcelorMittal SA, Toyota Tsusho Corporation, Pohang Iron And Steel Company, China Baowu Steel Group Corp., Nippon Steel And Sumitomo Metal Corporation (NSSMC), Baosteel Group Corp. Ltd., ThyssenKrupp AG, Japan Future Enterprise Steel Corporation, Shougang Group, Tata Steel Ltd., United States Steel Corporation, Jindal South West Steel Ltd., Hyundai Steel Co., Hebei Iron And Steel Group, Ternium Group, Ansteel Group, Essar Steel Inc., Novolipetsk Metallurgical Combine Group, Hesteel Group Company Ltd., Jiangsu Shagang Group Co. Ltd., Gerdau S.A., Jindal Stainless Hisar Limited.

Asia-Pacific was the largest region in the hot-rolled steel coil market in 2025. The regions covered in the hot-rolled steel coil market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hot-rolled steel coil market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hot-rolled steel coil market consists of sales of steel sheets and plates, structural beams, automotive parts, pipes, and tubes. 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.

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