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Flat Steel Market future trend and growth opportunities over the forecast timeframe

Author : Rahul Varpe | Published Date : 2019-07-09 

Global Flat Steel Market research report is added by Global market insights, inc by covering all major market aspects. The report also touches the key scenarios like top players, competition, types, applications, regions, recent developments and future market predictions.

Europe flat steel market size, led by UK, France, Italy and Germany will witness steady growth rate by 2024 due to increasing demand for construction, home appliances, automobile & transportation sectors. Moreover, companies have been investing on the project of inland waterway and rail waterway in Germany, which will drive industry growth in the region.

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Flat Steel Market size 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 2016. China is the major producer and accounted for over 45% of the total market share in 2016. 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.

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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 2024. 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. Carbon sheet are very flexible in nature and is suitable for various automotive parts manufacturing applications which includes chain parts, clutch parts, sprocket gears, and seat belt.

Steel plates market size may witness a significant growth over the foreseeable period. It offers high tensile strength, corrosion resistant, abrasion resistant, and seawater resistant properties. Strong application scope in ship building, hydro power plant, offshore structure, bridge, building, storage tanks, boiler and pressure vessels should drive flat steel market size.

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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.

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.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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