Press release
Rolled And Drawn Steel Market Size, Share Analysis, Industry Insights, Growth, And Forecast To 2033
Rolled And Drawn Steel Market
The rolled and drawn steel market size is expected to see strong growth in the next few years. It will grow to $346.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to renewable energy infrastructure, electric vehicles (EV) expansion, focus on sustainable construction, smart cities and IoT integration, stricter environmental regulations. Major trends in the forecast period include infrastructure investments, technological innovations in steel processing, technological advancements in steel production, industry 4.0 integration, digitalization of supply chains.
Market Overview -
Rolled and drawn steel refers to steel that is initially cast from hot, molten material as huge steel slabs or billets. The billets are then fired until they reach a temperature of over 1700°F. They are readily compressed into a lengthy sheet using a series of rollers at these elevated temperatures and are pulled through a succession of dies to create the required form.
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Global Automotive Industry Growth Fuels Expansion In The Rolled And Drawn Steel Market
The growing global automotive industry is expected to propel the growth of the rolled and drawn steel market in the coming future. The growing automotive industry is increasing the demand for automotive parts to maintain the interior and exterior look of the vehicle, improve longevity and the original quality of the vehicles, which in turn increases the demand for rolled and drawn steel. For instance, Forbes, an American business magazine, estimated that global auto sales will increase by 4% in 2023 to 89.7 million. Also, according to the India Brand Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, the automotive industry in India is expected to reach 282.8 billion by 2026. This growth in the automotive industry will drive the rolled and drawn steel market.
Competitive Landscape -
Major companies operating in the rolled and drawn steel market report are KG Dongbu Steel Co Ltd., China Baowu Steel Group Corp Ltd., ArcelorMittal S.A., Pohang Iron and Steel Company, Nippon Steel Corporation, Baosteel Group Co, Jiangsu Shagang Group Co Ltd., ThyssenKrupp AG, Shougang Group Co Ltd., Nucor Corporation, Anyang Iron and Steel Group Co Ltd., JFE Holdings Inc., Jianlong Group, Tata Steel Limited, Ansteel Group, Hesteel Group Company Limited, JSW Steel Limited, Hyundai Steel Co Ltd., Maanshan Iron and Steel Company Limited, United States Steel Corporation, NLMK Group, Gerdau S.A., China Steel Corporation, BlueScope Steel Limited, Benxi Steel Group Corp Ltd., Steel Authority of India Limited, Hunan Valin Steel Co Ltd., Yieh Phui Enterprise, Rautaruukki Oyj, Barclay & Mathieson Ltd., Sabre Steel Inc., MST Steel Corp
Product Innovation In The Rolled And Drawn Steel Market
Product innovation is the key trend gaining popularity in the rolled and drawn steel market. Major companies operating in the rolled and drawn steel market are focused on developing innovative products to strengthen their position in the market. For instance, in May 2021, ArcelorMittal, a Luxembourg-based multinational steel manufacturing and mining corporation, launched Granite HDXtreme, a pre-painted steel created for usage in harsh environments. Granite HDXtreme is environmentally friendly since it is 100% biodegradable, devoid of chromates and heavy metals, and it has a lower carbon footprint than other materials like aluminum. Its strength originates from its 75-m three-layer coating technique. Each layer serves a distinct yet crucial purpose. The primer layer is crucial for preventing corrosion. A basecoat is applied on top of that to create the final color and assure the steel's endurance. The coating is completed with a layer of varnish, which gives it texture, boosts its toughness and longevity, and improves its capacity to withstand UV (ultraviolet) rays.
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Key Segments -
The rolled and drawn steel market covered in this report is segmented -
1) By Type: Color Coated Coil, Continuous Hot Dip Galvanized Steel Coil, Carbon Structural Steel Cold Rolled Coils, Deep Drawing Cold Rolled Coils
2) By Manufacturing Process: Basic Oxygen Furnace (BOF), Electric Arc Furnace (EAF)
3) By Application: Automotive, Construction, Home Appliance, Machinery, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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