Kenneth Research has recently added a report on “Carbon Flat Steel Market” which offers a comprehensive assessment of the market and its growth prospects along with new business opportunities in the industry. The report contains market size and annual growth rate for a forecast period between 2022 and 2031.
The US market is recovering rapidly; In a statement dated May 4, 2021, the US Bureau and Economic Analysis and the US Census Bureau mention the recovery of US international trade in March 2021. The country’s exports reached $200 billion, up from $12.4 billion in February 2021. trend, imports amounted to $274.5 billion, increased from $16.4 billion in February 2021. However, as COVID19 still haunts economies around the world, average exports of year-over-year (year-on-year) to the United States decreased by $7.0 billion from March 2020 to March 2021 while imports increased by $20.7 billion over the same period. This clearly shows how the market is trying to recover and this will have a direct impact on the healthcare/ICT/chemical industries, creating a huge demand for the products in the flat carbon steel market.
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Additionally, the market is expected to grow owing to the growing trade in chemicals globally. The European Union was the largest exporter of chemicals in the world in 2019. The region was also the second largest importer of chemicals after the United States in the same year. Exports of chemicals to Europe, according to Eurostat statistics, increased from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Additionally, imports of chemicals to the region increased from 205, 64 billion USD in 2010 to 285.91 billion USD in 2020. .
A report on the Carbon Flat Steel Market has recently been added to Kenneth Research’s Market Research Reports Database, which provides a comprehensive assessment to its readers on the market’s growth prospects, as well as potential business opportunities in the industry. The study, which focuses on the latest trends, business dynamics, growth opportunities and drivers influencing market growth, also includes market size and compound average growth rate (CAGR) for the period forecast 2021 and 2025. The report on Flat Carbon Steel Market also includes a comprehensive analysis of macro and micro environmental factors that may influence market growth over the forecast period. Moreover, analytical tools such as PESTEL analysis and Porter’s five forces analysis are used to calculate and compile the factors that act as the market growth driver.
“The final report will add the analysis of the impact of COVID-19 on this industry.”
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The global flat carbon steel industry was valued at USD 414 billion in 2018. The global flat carbon steel industry is further expected to grow at a CAGR of 3.8% from 2019 to reach 536 USD billion by 2025. Industry, by Region Asia-Pacific holds the highest share of the industry in 2017 and is also considered the fastest growing industry during the forecast period in because of its industrial demands. At the country level, India, China, South Korea, Japan and Taiwan in Asia-Pacific are expected to witness strong growth in the coming years due to the growing demand and popularity of flat steel products. to carbon.
The major players in the carbon flat steel industry market are Baosteel Group (Baowu Steel Group Corporation Limited), SAIL (Steel Authority of India Limited), China Baowu Group Ltd., POSCO Steel., Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group, CSC Steel Holdings Berhad, Maanshan Iron & Steel Company Limited, JFE Steel Corporation, Gerdau SA, PJSC Magnitogorsk Iron and Steel Works (MMK Group) and 9 other companies, detailed information is provided in the report.
The segmentation is done by product, by application and by region. On the basis of product types, the industry is segmented into plates, hot rolled coils, cold rolled coils, galvanized coils, prepainted steel coils and tinplate of which hot rolled coils segment is expected to hold the share highest in the industry during the forecast period due to their strength and durability. By application, the industry is segmented into machinery manufacturing and building & construction, of which the building & construction segment holds the highest share in the industry in 2018.
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SWOT analysis of the flat carbon steel industry
Strength:
Growing application in end-user industry
The increase in urban population
Weakness:
Changing government regulations and standards
Opportunities:
Increased investment in infrastructure
Threats:
Alternative and inexpensive products available
Carbon flat steel industry Segmentation
Flat Carbon Steel Industry Overview, By Product Type
? Hot rolled coils
? Plates
? Galvanized coils
? Cold rolled coils
? Tin
? Prepainted steel coils
Flat Carbon Steel Industry Overview, By Application
? machinery manufacturing
? Building and construction
Flat Carbon Steel Industry Overview, By Region
North America
? UNITED STATES
? Canada
Europe
? Germany
? UK
? France
? Italy
? The rest of Europe
APAC
? China
? India
? Japan
? Rest of Asia-Pacific
Row
? Latin America
? Middle East and Africa
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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to make important decisions and plan strategies. We serve a wide range of industries including healthcare and pharmaceuticals, ICT and telecommunications, automotive and transportation, energy and power, chemicals, consumer packaged goods and food, aerospace and defense, among others. Our research team makes sure to regularly monitor and analyze the industry to offer strategic business advisory services globally. At Kenneth Research, we are adept at capturing descriptive information on critical topics to help our clients make informed decisions.
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