Flat metal is a shape of the metal that is rolled from metal slabs and is used in the manufacturing of sheets, plates, structural beams, and strips. These products are substantially served in building & infrastructure, transportation, and electric equipment industries because of their unique properties. Flat steel products help to improve the anti-corrosion properties of metal & enhance the quality, ductility, and reliability of the finished product.
COVID-19 Impact Analysis:
COVID-19 is an incomparable worldwide public health emergency that has affected nearly every enterprise, and the long-time period outcomes are projected to affect the enterprise growth all through the forecast period. Our ongoing studies amplify our studies framework to make certain the inclusion of underlying COVID-19 troubles and ability paths forward. The record grants insights on COVID-19 thinking about the adjustments in purchaser conduct and demand, buying patterns, re-routing of the deliver chain, dynamics of contemporary marketplace forces, and the substantial interventions of governments. The up-to-date examination provides insights, analysis, estimations, and forecasts, thinking about the COVID-19 effect on the marketplace. Competitive Strategic Window: The Competitive Strategic Window analyses the competitive panorama in phrases of markets, applications, and geographies to assist the seller outline an alignment or match among their talents and possibilities for future growth prospects. It describes the foremost or favourable match for the carriers to undertake successive merger and acquisition techniques, geography enlargement, studies & development, and new product advent techniques to execute similarly commercial enterprise enlargement and growth all through a forecast period. FPNV Positioning Matrix: The FPNV Positioning Matrix evaluates and categorizes the carriers in the Flat Carbon Steel Market primarily based totally on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids organizations in higher choice-making and knowledge the competitive panorama.
The sheets & strips phase accounted for the biggest proportion of the flat steel marketplace in 2018. This massive proportion is especially attributed to its growing packages in the packaging, domestic appliances, and electronics industries. They are appreciably used in the production of door & window hoods, wall ornaments, refrigerators, metallic drums, metallic furniture, dry batteries, automobiles, washing machines, gutters, downspouts, and roof ornaments, amongst others.
The growth of the building & infrastructure end-use region is attributed to the extensive use of flat metallic in the production of buildings, railway tracks, roads, bridges, factories, and different engineering structures. It not only lowers production charges however additionally reduces the long-time period preservation charges of buildings. Flat steel is used in the improvement of infrastructure in the energy region. It is used in the building & infrastructure region because it gives layout flexibility, strength, and durability. It is utilized in oil, gas, nuclear, solar, wind, and hydro strength plants.
The Asia Pacific accounted for the largest percentage of the worldwide flat steel marketplace in 2019, observed with the aid of using Europe and North America. China is one of the important customers of flat steel in the Asia Pacific vicinity. The marketplace right here is witnessing growth because of the growing demand for flat steel and an upward push in the quantity of end-use sectors in rising economies including India. The Indian flat steel marketplace is projected to develop at the best CAGR withinside the Asia Pacific vicinity all through the forecast length because of the growth of the economy, the upward push in city population, and the improvement of assorted industries including production and automotive, amongst others, in the country.
The flat steel marketplace size surpassed USD 768 billion, globally in 2028 and is envisioned to develop at over 5.8% CAGR between 2020 and 2028. Growing product reputation in several constructions & car programs pertaining to its energy-efficient, eco-friendly and cost-effective nature should foster the marketplace expansion.
Rapid urbanization, developing industrialization, growing level of disposable profits of middle-class households in rising economies, and developing worldwide population is projected to be the fundamental marketplace driver for the industry. In India, greater than 25.0% of the full funding has been made in infrastructure since 2012. This trend is predicted to develop over the approaching years, thereby having a positive effect on the industry. The rate of iron ore could be very risky because of the substitute of the annual benchmark pricing machine with a quarterly pricing system. With such a pricing machine, raw fabric manufacturers are focused on the advantage of the complete benefits of the upper spot rate of raw fabric instead of being restrained by annual contracts which can be predicted to restrain the marketplace growth. Prices of uncooked substances are generally based on the important thing gamers running in the flat steel marketplace, which is likely to have an effect on the manufacturing procedure in the coming years.
Flat products are provided through direct supply agreements or third-party delivery agreements. Many of the producers undertake the ahead integration method which permits them to promote their merchandise immediately to their customers. Companies which include Tata Steel Limited and Essar have their distribution channel. Manufacturers maintain to stand tremendous alternate demanding situations from overseas authorities' trade-distorting guidelines and practices. Emissions controls for the iron manufacturing technique are greater than six instances as strict in the U.S. as compared to China. A greater competitive U.S. alternate coverage is wanted to fight those overseas alternate-distorting practices to keep and toughen the nation’s production base.
Hot rolled flat steel sheets involve the rolling of steel above the steel recrystallization temperature. The process helps in the manufacture of steel sheets which can be deformed and shaped easily in varied sizes. These products do not require any post-forming heat treatment, are economical and offer effective mechanical properties which are the key driving factors for the flat steel market.
Hot rolled flat steel sheets find extensive usage in automotive, structural sections, railroad and various construction applications as these products offer high formability, corrosion resistance and are also suitable for applications which require optimum shape and appearance. In addition, superior workability of these high strength sheets makes them useful in several interior & exterior infrastructure applications which is further expected to have a positive impact on the flat steel market growth. Major companies, such as ArcelorMittal S.A., China BaoWu Group Corporation Ltd., Dongbu Steel, Dongkuk Steel, EVRAZ plc, HYUNDAI STEEL, JFE Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, POSCO Steel, SAIL.
Some of the other recent Government initiatives in this sector are as follows:
- In July 2021 the Union Cabinet, approved the production-linked incentive (PLI) scheme for specialty steel. The scheme is expected to attract investment worth ~Rs. 400 billion (US$ 5.37 billion) and expand specialty steel capacity by 25 million tonnes (MT), to 42 MT in FY27, from 18 MT in FY21.
- In June 2021, Minister of Steel & Petroleum & Natural Gas Mr. Dharmendra Pradhan addressed the webinar on ‘Making Eastern India a manufacturing hub with respect to metallurgical industries’, organised by the Indian Institute of Metals. In 2020, ‘Mission Purvodaya’ was launched to accelerate development of the eastern states of India (Odisha, Jharkhand, Chhattisgarh, West Bengal and the northern part of Andhra Pradesh) through establishment of an integrated steel hub in Kolkata, West Bengal. Eastern India has the potential to add >75% of the country’s incremental steel capacity. It is expected that of the 300 MT capacity by 2030-31, >200 MT can come from this region alone.
- In June 2021, JSW Steel, CSIR-National Chemical Lab (NCL), Scottish Development International (SDI) and India H2 Alliance (IH2A) joined forces to commercialise hydrogen in steel and cement sectors.
- Under the Union Budget 2020-21, the government allocated Rs. 39.25 crore (US$ 5.4 million) to the Ministry of Steel. The budget’s focus is on creating infrastructure and manufacturing to propel the economy. In addition, enhanced outlays for key sectors such as defence services, railways, and roads, transport and highways would provide impetus to steel consumption.
- In January 2021, the Ministry of Steel, Government of India, signed a Memorandum of Cooperation (MoC) with the Ministry of Economy, Trade and Industry, Government of Japan, to boost the steel sector through joint activities under the framework of India–Japan Steel Dialogue.
- In December 2020, the Minister for Petroleum & Natural Gas and Steel, Mr. Dharmendra Pradhan, has appealed to the scientific community to Innovate for India (I4I) and create competitive advantages to make India ‘Aatmanirbhar’.
- In September 2020, the Ministry of Steel prepared a draft framework policy for development of steel clusters in the country.
- On October 1, 2020, Directorate General of Foreign Trade (DGFT) announced that steel manufacturers in the country can avail duty drawback benefits on steel supplied through their service centres, distributors, dealers and stock yards.
- Government introduced Steel Scrap Recycling Policy to reduce import.
Flat Steel Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 768 billion|
|Growth Rate||CAGR of 5.8% during 2021-2028|
|Segment Covered||By Product, End-User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||ArcelorMittal S.A., China BaoWu Group Corporation Ltd., Dongbu Steel, Dongkuk Steel, EVRAZ plc, HYUNDAI STEEL, JFE Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, POSCO Steel, SAIL.|
Key segments of the Global Flat Steel Market:
- Hot rolled flat sheets
- Hot rolled coils
- Electrical sheet & strip
- Metallic coated sheet & strip
- Non-metallic coated sheet & strip
- Tin Plates
- Building & Infrastructure
- Transport Network
- Automotive & Transportation
- Mechanical Equipment
- Electrical Appliances
- Agriculture Equipment
- Gas Containers
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa