© 2018 Global Market Insights, Inc. USA. All Rights Reserved Flat Steel Market Outlook, Regional Growth & Industry Share By 2024

Global Market Scenario of Flat Steel Market © 2018 Global Market Insights, Inc. USA. All Rights Reserved  Flat Steel Market is predicted to witness a massive growth in forecast timeline due to increasing construction and automotive industries. Increasing per capita disposable income along with rapid urbanization in China, India, Germany and Brazil with infrastructural investment should drive flat steel market demand.  Global steel market size was valued at over USD 760 billion in China is the major producer and accounted for over 45% of the total market share in It is one of the vital requirements in building and infrastructure sector due to its design flexibility, strong structure, reusability and durability characteristics. It also lowers the buildings construction cost and overall maintenance cost. Flat steel has a wide range of applications in thermal power plants, hydro power plants, oil & gas, solar, nuclear and wind energy industries. It is also used by various light bar industries, truck trailers, railways and automobile manufacturers.  Sheets & strips flat steel market demand may witness steady gains over the forecast timeline owing to increasing product usage in packaging, manufacturing and home appliances. It is widely used in door & window hoods manufacturing, refrigerators, furniture, drums, dry batteries, washing machines, automotive body structure and parts manufacturing applications. Global home appliances market size in expected to reach at over USD 590 billion by Rise in disposable income along with consumer spending in various household activities should drive industry growth.  Cold rolled sheets are used in flat steel market which are suitable for automobile and electrical appliances owing to its strong structure and durability properties

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© 2018 Global Market Insights, Inc. USA. All Rights Reserved Product Analysis:- Flat steel market size from automobile applications may witness favorable gains over the projected timeframe due to easy maintenance and repair ability, high recyclability as compare to plastics and composites. It is widely used in automotive parts and body structure. The major factor behind selecting the product for body structure due to its wide range of positive characteristics such as thermal, chemical and mechanical resistance, ease of manufacture and durability. Flat steel offers high strength, more protection and comparatively low cost as compare to other counterparts while manufacturing automotive parts and body structure. Global automobile production market has accounted at USD 72.1 million for cars and USD 22.5 million for commercial vehicles in 2016, and it is expected to increase with a rapid pace over the forecast timeframe, which will propel the industry growth. Regional Trends:- Asia Pacific led by South Korea, India, Japan, and China flat steel market size may grow significantly over the forecast timeframe due to increasing demand for automotive manufacturing, home appliances, building and infrastructure. Increasing purchasing power of personal cars along with luxurious consumer lifestyle will propel flat steel market size in the region. North America, led by Canada and the U.S. flat steel market size may witness an uptrend due to increasing investment opportunities in construction industries. Rising demand for residential and commercial construction which includes shopping complexes, corporate buildings, sports stadiums, airports, and hotels should drive regional industry growth.

© 2018 Global Market Insights, Inc. USA. All Rights Reserved Competitive Trends: Global flat steel market share is competitive with presence of various manufacturers operating in the business through high production volume. ArcelorMittal, Essar, Voestalpine Group, Thyssenkrupp AG, POSCO, JFE Holdings, and JSW are industry participants. Merger & acquisitions are an integral part of the market, which allow companies to expand their regional presence and product portfolio, thereby escalating flat steel market demand.

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