What is Coated Steel Market?
Coated steel is steel surface is coated with an additional layer of organic or metallic materials to protect from rusting, is known as coated steel. This Coated steel is utilized in various applications where corrosion resistance, aesthetic appearance, or food safety is essential. The construction sector plays a major role as an end-user for metallic coated and organic coated steel. With the rapid growth in urbanization and rising population are developing new markets for coated steel products in the construction sector. As per the United Nations Department of Economic and Social Affairs, early 55% of the global population lives in urban areas.
The market study is being classified by Type (Polyester, Fluoropolymer, Siliconized Polyester, Plastisol and Others), by Application (Building & Construction, Appliances, Automotive and Others) and major geographies with country level break-up.
Tata Steel (India), ArcelorMittal (Luxembourg), Safal Group (Kenya), JFE Steel (Japan), Shandong Guanzhou (China), Hysco (South Korea), Amcan (United Arab Emirates), ThyssenKrupp (Germany), Colourcoil Industries (Malaysia) and ESSAR Group (India) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Yieh Phui Enterprise (Taiwan), Dongkuk Steel Mill (South Korea) and Dongbu Steel (South Korea).
The increasing demand from companies to draw innovative ways to market their products or services has led to the increasing popularity of the coated steel. Rising investments in manufacturing technology have also led to the growth of the coated steel market. Currently, the market of coated steel mostly is fragmented in North America. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Coated Steel market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Coated Steel market by Type, Application and Region.
On the basis of geography, the market of Coated Steel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Requirement from Various Industries
- Rigid Competition in the Color Coated Steel Industry
- Rapid Development in Construction, Automotive, and Appliance Industries
- Inexpensive than Electro Galvanizing Process
- Increase in Market Competencies
- Disruption in Transportation
- Demand-Supply Gap Across Europe and Other Crisis Restraining the Color Coated Steel Market
- Growing Opportunities for Steel and Aluminum Protected Skyscrapers in the Middle East Countries
- Cost Reduction
- Fluctuation in Prices of Raw Materials
In Apr 2021, Nippon Steel announced the launch of ZAM-EX, highly corrosion-resistant coated steel sheets for overseas markets. Through this initiative, the company is becoming more competent in the market, and gain major market share.
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Coated Steel Market?
"Growing Requirement from Various Industries
" is seen as one of major growth factors of Coated Steel Market in years to come.
2. Can we have customized study for Coated Steel Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Coated Steel Market?
will lead the Coated Steel Market.