Overview:
Coated steels are steel products with a metal or color coating. Such coatings promote diverse needs like increasing longevity, better handling, improving aesthetics, and providing enhanced resistance to different weather conditions. The coated steel market is all set to gain a 5% CAGR during the forecast period of 2020 to 2027. Market Research Future (MRFR) predicts that this growth would allow a touching of USD 30 billion valuation by the end of 2027.
Several factors are at play when it comes to push the coated steel market forward. This includes industries like construction, automotive, and electrical & electronics. For the automobile industry, steel is the most preferred material, which is bound to increase the ingress of the coated steel market.
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Segmentation:
The global coated steel market has been analyzed on the basis of a segmentation that has been conducted by MRFR to get a closer look. This is expected to provide a much-detailed reading of the expanse. The global coated steel market report has segmentations by type, coating type, and end-use industry.
Based on the type, the global coated steel market comprises metallic-coated steel and color-coated steel. The color-coated steel segment had superior market hold and it is expected to remain the same during the forecast period.
Based on the coating type, the global coated steel market includes pure zinc, poly vinylidene fluoride, polyester, polyurethane, epoxy, polyvinyl chloride, aluminum-zinc, pure aluminum, and others. The polyester segment consists silicone modified polyester, regular modified polyester, and super durable polyester. This segment also has the better market control.
Based on the end-use industry, the global coated steel market consists industrial machinery, consumer goods, building & construction, automotive, electrical & electronics, and others. The automotive segment is all set to enjoy much prominence in the sector. The construction sector is expecting benefits from the residential sector that has been integrating the product more due to its aesthetic appeal.
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Regional Market:
Region-specific analysis of the global coated steel market depends much on the reading that includes Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East and Africa (MEA). The APAC market had the highest market share in 2020 and its CAGR would topple others in its path during the forecast period. The regional market is gaining much from the construction activities all around where aesthetic appeal is holding much sway. Automotive giants are also showing much interest in the regional market and it would only increase with the rise in their zonal presence.
Europe’s market is expected to draw substantial delivery for the robust automotive sector. The regional supremacy in the automotive sector, dominated by OEMs, is expected to provide benefits to coated steel market.
North America’s market is expected to benefit substantially from the presence of automotive and construction sector. The construction sector is having a great go in the region due to the presence of countries like the US and Canada.
Latin America’s growth is anticipated to register substantial traction from the regional construction activity and consumer goods segment. On the other hand, the MEA market can profit substantially from the growing expenditure in the construction sector from countries like Dubai, the UAE, Qatar, Kuwait, and Oman.
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Competitive Landscape:
Prominent market players in the global coated steel market are SSAB (Sweden), JSW (India), ArcelorMittal (Luxembourg), JFE Steel Corporation (Japan), POSCO (South Korea), NIPPON STEEL & SUMITOMO METAL CORPORATION (Japan), NLMK (Russia), Tata Steel (India), Salzgitter Flachstahl GmbH (Germany), Essar (India), thyssenkrupp AG (Germany), and Uttam Galva Steels Limited (India). MRFR enlisted these players in their latest report for a close look at various trends by profiling their market presence.
In July 2019, India's directorate-general of trade remedies (DGTR) put forward an idea of adding an anti-dumping duties (ADD) on zin-coated and aluminum-coated steel that they import from countries like China, South Korea and Vietnam. This ADD would be of varying rate.
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