Coated Steel Market Size, Share, Trends, Growth 2032

Coated Steel Market Insights

Zion Market Research has published a report on the global Coated Steel Market, estimating its value at USD 57.45 Billion in 2023, with projections indicating that it will reach USD 69.26 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 2.1% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Coated Steel industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Coated Steel Market: Overview

Coated steel is commonly used in a number of industries, including automotive, furniture, building & construction, among others. Of this, the building and construction industry uses coated steel in high volumes and has the largest market for coated steel relative to other steel.

Global Coated Steel Market: Growth Factors

Coated steel is the target of strong demand from the end-use sectors, especially the building and construction industries. This high demand is projected to fuel the global economy in the near future. In comparison, polyester resin—a type of coated steel—is widely favored in the industry due to the fact that it is highly oxygen-repressed, making the surface of the steel coated with polyester sticky and smooth. Thanks to all these properties, the demand for the polyester resin is strong, which in turn boosts the global market for coated steel.

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In addition, strong demand from end-use industries is also boosting the global market for coated steel. In addition, the increasing ability of people to invest in the gradation of roofing, kitchens, and simple household changes in the use of steel-coated goods further boosts global demand development.

Global Coated Steel Market: Segmentation

The global coated steel market is segmented based on its resin type, application, and region.

Based on the resin type, the global market is categorized as Polyester, siliconized polyester, fluoropolymer, plastisol, and others. Of these, the polyester segment is the largest type segment in the global market.

On the basis of application, the global coated steel market is diversified as appliances, building & construction, automotive, and others.

Coated Steel Market: Report Scope

Global Coated Steel Market: Regional Analysis

Owing to high domestic demand and low cost of production, China and India are major producers of refrigerators. Hence, increasing demand from these end-use industries is, in turn, boosting the global coated steel market.  increasing demand from these end-use industries is, in turn, boosting the global coated steel market. Furthermore, Asia Pacific is anticipated to be one of the largest markets for coated steel as far as volume and value are concerned. This trend is followed by North America and Europe. India, China, Russia, South Korea, the U.S., and Middle Eastern countries are some of the key markets for coated steel, mainly owing to growing demand on the domestic front, rising income levels, and easy availability of resources. Asia Pacific has also emerged as the major coated steel market player globally.

Global Coated Steel Market: Competitive Players

Some main participants of the coated steel market are

• SSAB AB
• Jindal Steel & Power Ltd.
• Voestalpine AG
• OJSC Novolipetsk Steel
• ArcelorMittal S.A.
• United States Steel
• OJSC Magnitogorsk Iron & Steel Works.

Other key players influencing the global market include

• Nippon Steel & Sumitomo Metal Corporation
• Essar Steel Ltd.
• ThyssenKrupp AG
• Tata Steel Ltd.
• Lysvenskii Metallurgicheskii Zavod Zao

Global Coated Steel Market: Segmentation

By Resin Type

• Polyester
• Siliconized Polyester
• Fluoropolymer
• Plastisol

By Application

• Appliances
• Building & Construction
• Automotive

Coated Steel Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa