Structural steel is a material which is mainly utilized in construction for making the material in different shapes that include angles, channels & wide flanges, and I beam steel sections for owing to their energy efficiency as well as exceptional designing facility. Also, it is widely utilized in the construction sector for their intrinsic properties in design such as large span, combined with the low dead weight of the structure, with column of small section, great heights and load bearing capacity, structural systems in which openings can be easily provided, simplify installation of service. Moreover, structural steel includes a broad variety of low carbon and manganese steel which are widely utilized in a number of civil, mechanical and marine engineering application. In addition, structural steel is manufactured in section and plates shape and are normally used in buildings, bridges, ships as well as pipelines.
Global Structural Steel Market: Key Players
The research study includes profiles of leading companies operating in the global structural steel market. Key players profiled in the report include: ArcelorMittal S.A, Nippon Steel & Sumitomo Metal Corporation, POSCO, VISA Steel, SAIL, Baosteel Company, Tata Steel, Novolipetsk Steel, Evraz Group, Steel Limited, Nucor Corporation, and JFE Steel Corporation.
Drivers for the Global Structural Steel Market:
According to current market condition, increasing infrastructural development activities in developed as well as developing economies is a major factor driving growth of the global structural steel market. In addition, increasing adoption of structural steel in construction of ships, bridges, and buildings, due to their benefits such as toughness, ductility, high strength, fire resistance, and stiffness are other factors expected to fuel growth of the global structural steel market over the forecast period. Furthermore, government packages and incentives for the development of the construction sector in developed and developing economies are anticipated to create a favorable environment for the growth of the market for structural steel.
Opportunities for the Global Structural Steel Market:
High demand for infrastructure in emerging economies such as China and India have expected to generate impressive growth opportunity of the structural steel market in the next few years. Also, increase in focus on innovation in green construction materials is one of the trends in the construction industry, which is expected to create lucrative opportunity for structural steel building designs over the forecast period.
Restrains for the Global Structural Steel Market:
However, fluctuations in raw material prices is a major factor restraining growth of the global structural steel market. Apart from that, growing acceptance of prefabricated building which is a substitute for structural steel is another factor expected to hamper growth of the global structural steel market over the forecast period.
Region Wise, Global Structural Steel Market Analysis:
On the basis of region, global structural steel market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Geographically, the structural steel market in Asia Pacific is expected to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. This dominance can be attributed to increasing spending on construction of housing and residential buildings and ongoing public infrastructure developments in emerging economies such as China, Japan, and India. Asia Pacific region is followed by North America and Europe.
Global Structural Steel Market: Product analysis
- Heavy Sectional steel
- Light Sectional Steel
Global Structural Steel Market: Application analysis
Global Structural Steel Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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