Hot-Rolled Steel Coil Market Report 2025

The hot-rolled steel coil market size has grown steadily in recent years. It will grow from $189.86 billion in 2024 to $198.67 billion in 2025 at a compound annual growth rate (CAGR) of 4.6%. The growth during the historic period can be attributed to the increasing replacement of cold-rolled coils with hot-rolled coils in structural applications, the rising adoption of hot-rolled steel in oil and gas pipelines, growing demand from railway and transportation infrastructure, expanded use in agricultural equipment manufacturing, and the increased application of hot-rolled coils in container and storage tank production.

The hot-rolled steel coil market size is expected to see steady growth in the next few years. It will grow to $234.86 billion in 2029 at a compound annual growth rate (CAGR) of 4.3%. The growth projected for the forecast period is driven by rising demand from construction and infrastructure projects, expanding automotive production and electric vehicle (EV) adoption, technological advancements in steel manufacturing and automation, growing industrialization and urbanization in emerging economies, as well as favorable government policies and investments in public infrastructure. Key trends expected during the forecast period include greater adoption of electric arc furnace (EAF) technology, development of high-strength lightweight hot-rolled steel coils (HRSC) for automotive and EV applications, innovations in automation and AI-driven production quality control, progress in green steel and carbon-reduction processes, and the expansion of distribution channels through digital and e-commerce platforms.

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 players in the hot-rolled steel coil market 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 2024. The regions covered in hot-rolled steel coil report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the hot-rolled steel coil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The steep increase in U.S. tariffs and the triggered trade tensions in spring 2025 are profoundly impacting the metal and minerals sector by disrupting supply chains for automakers, appliance manufacturers, and infrastructure projects. Domestic mills have raised prices in response to reduced import competition, but capacity constraints limit their ability to meet demand. Mining firms, meanwhile, grapple with retaliatory tariffs on mineral exports, particularly lithium and rare earths. Industry players are investing in scrap metal recycling, lobbying for exemptions, and forming joint ventures with overseas producers to secure stable supply.

Hot-rolled steel coil refers to a type of metal processed at high temperatures above its recrystallization point, which makes it easy to shape and form. The process involves passing the material through large rollers while it remains hot, producing a surface that may have a slightly rough, scaled texture.

The primary types of hot-rolled steel coil include those with thicknesses above 3 mm and those below 3 mm. Hot-rolled coils thicker than 3 mm are steel sheets produced through a hot-rolling process at temperatures exceeding 1700°F (926°C). They come in various grades, such as low-carbon steel, medium-carbon steel, high-carbon steel, and alloy steel, and are used in multiple applications including construction and infrastructure, oil and gas or energy, automotive, industrial equipment, shipbuilding and marine, among others.

The hot-rolled steel coil market research report is one of a series of new reports that provides hot-rolled steel coil market statistics, including hot-rolled steel coil industry global market size, regional shares, competitors with a hot-rolled steel coil market share, detailed hot-rolled steel coil market segments, market trends and opportunities, and any further data you may need to thrive in the hot-rolled steel coil industry. This hot-rolled steel coil 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 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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