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Global Hot Rolled Steel Coil Market Insight
2021-12-29 Comments

The hot rolled steel coil is forecast to continue increasing over the next four years. According to the World Knowledge Information (WKI) “Global Hot Rolled Steel Coil Professional Survey Report 2021, Forecast to 2026”, The increasing industrialization and infrastructure construction expenditure are the main growth drivers of the global hot rolled coil market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 4.79% base on WKI regression analysis model.

Analysts’ Viewpoint:

“Judging from the current industry situation, the hot-rolled steel coil market is fragmented, the industry concentration is low, and the industry entry barriers are low. Companies in the wait-and-see period of investment can seize the opportunity.“said Selena, Senior analyst, Chemical & Material Market Research Center in WKI.“Hot rolled coil manufacturers should actively innovate technology and improve production efficiency, which also help to occupy more market share.”

Market insight:

Hot rolled steel coil is widely favored because of its excellent strength, weldability, castability, strong residual strain and strong adhesion during baking. The exponential expansion of infrastructure supporting the growing population, coupled with the substantial increase in residential construction projects, has driven its consumption. In addition, the booming automation industry in Asian developing countries such as India, China, Japan and South Korea is also an important factor driving the growth of hot rolled steel coil market.

However, the hot-rolled coil industry is witnessing the continuous pressure caused by steel overcapacity and low profit margin for decades, which limits the scale development of the hot-rolled coil market.

Competition Landscape:

The main market participants operating in the global hot rolled steel coil market are ArcelorMittal, Nippon Steel & Sumitomo Metal, JFE Steel Corporation, Ansteel Group, Tata Steel, Hesteel Group, POSCO, Nucor Corporation, Benxi Steel Group, NLMK Group, ThyssenKrupp, Maanshan Steel, United States Steel Corporation, Jianlong Group, Valin Steel Group, Steel Authority of RoW Limited, Hyundai Steel, Jingye Steel, Anyang Group and others.

Segmentation of Hot Rolled Steel Coil Market:

According to the product thickness, the hot rolled steel coil market is divided into less than 3mm and more than 3mm. The segment with hot-rolled coil thickness greater than 3mm accounts for the largest market share and is expected to grow at the highest CAGR during the forecast period. Because the hot rolled steel coil larger than 3mm has more applications, such as general manufacturing applications such as automobile plate and elevator floor, it can also be used in various industrial parts applications. According to the application, the hot rolled steel coil market is subdivided into automobile, construction, household appliances, machinery, etc. The construction sector has the largest market share. Driven by the growth of population, the improvement of urbanization and the rise of manufacturing industry, the residential field shows strong growth, mainly in the field of single family construction, which promotes the increase of demand for hot rolled steel coil and the overall development of the market scale of hot rolled steel coil.

Hot Rolled Steel Coil Market: Regional Analysis

In terms of geography, the global hot rolled steel coil market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia Pacific region has the largest market share and continues to be a leader during the forecast period. Because the booming automation industry in emerging economies such as India, China, Japan and South Korea is an important factor to promote market growth. Asian countries, such as Vietnam and the Philippines, are also experiencing considerable growth in automobile manufacturing. In addition to a large number of automobile production facilities, the region’s low-cost labor force and growing urban population are other main drivers of market growth.

 

Cagr: 4.79%
Largest share area:Asia-Pacific
Largest share country:China