Coated Steel Market Size, Share and Industry Analysis Report by Type (Metallic Coated Steel [Hot-dip Galvanized (HDG), Electrogalvanized (EG)], Organic Coated Steel, Tinplate) and Application (Building & Construction, Appliances, Automotive), Regional Outlook, Application Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Oct 2021  |  Report ID: GMI5133  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 200   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Overview

Coated Steel Market size was valued at around USD 50 billion in 2020 and is estimated to exhibit 4.4% CAGR from 2021 to 2027 owing to the increasing use of coated steel in building & construction applications as it is an economical and effective way to protect steel from corrosive environments and rising demand from automotive vehicles to improve corrosion resistance and aesthetic appearance.
 

Coated steel is covered with an added layer of metallic or organic materials to provide protection against rusting. Mostly, a coating layer is applied to flat steel when the steel is in the coil form. Coated steel solutions have various features, making them appropriate for various uses in the building & construction industry.
 

Coated Steel Market Outlook

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Coated steel also provides excellent resistance to corrosion and has become the most ideal material for an extensive range of construction uses, particularly walls and roofing. Coated steel can be roll-formed, pressed, punched, and joined into a number of structural and decorative components for various applications.
 

The food packaging applications, such as food cans and beverages, have been witnessing tremendous growth in the recent years, especially in Asia Pacific due to shifting regional demographics such as shrinking houses in conjunction with the adoption of a fast-paced life by the young generation is considerably influencing the packaged food trends in the region.
 

The proliferating coated steel demand from the automotive and electrical appliances along with the rising need for color-coated steel sheets in the building & construction sector, where it is majorly used as industrial cladding and roofing will increase the coated steel market share in the coming years.
 

Increasing adoption of metallic coated steel in automotive & electric appliance applications

Coated Steel Market by Type

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The metallic coated segment is expected to generate over USD 50 billion by 2027 owing to increasing adoption of electrogalvanized coated steel. It produces a lower width of zinc or zinc alloy coatings as compared to the continuous batch hot-dip galvanizing process. It is also a lucrative process for applying zinc coatings on complicated and small shapes such as automotive components.
 

Electrogalvanized coated steel is suitable for manufacturing home appliances such as washing machines, outdoor units of ACs, and precision machines. Moreover, by combing with paints and primers, electrogalvanized steel offers excellent resistance and enhanced corrosion protection against paint blistering and peeling, which is expected to further drive the coated steel market growth.
 

Building & construction applications to dominate the market

Coated Steel Market by Application

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The building & construction segment is projected to generate a demand for around 60 million tons by 2027 owing to the increasing use of coated steel in building & construction as it is strong, lightweight, and extremely durable. These properties of coated steel lead to lower construction times and easy handling on the construction site. The coated steel material is the perfect choice for renovations and extensions.
 

Furthermore, buildings made from coated steel solutions also provide safe and sustainable climate protection and have lower maintenance costs. The coated steel is 100% recyclable without any loss of quality. Both from an economical and an environmental perspective, coated steel is the sustainable solution.
 

Automotive applications to generate major revenues for the market

The automotive application sector contributed significantly to the coated steel market and acquired over 20% revenue share in 2020. Coated steel is a feasible material for manufacturing large and high-quality automotive components such as automotive floors and roofs. Since coated steel provides corrosion protection and long-lasting appearance, it is a preferred over other steel material. The increasing capacity additions in the automotive industry will lead to robust demand for coated steel from the automotive application sector. However, the COVID-19 pandemic significantly affected the global automotive production in 2020 due to strict lockdowns imposed by various governments worldwide.
 

Staggering increase in the construction of non-residential buildings will drive the coated steel penetration

Many countries, such as the U.S., India, and China, are witnessing a staggering increase in the construction of non-residential buildings such as lodgings, offices, and commercial, health care, public safety, and educational institutes. According to the U.S. Census Bureau, the U.S. non-residential remodeling market reached USD 814 billion in 2019, after projecting an approximate 10% growth since 2016. Lodging construction witnessed a significant growth in 2019 owing to the persistent economic expansion that resulted in enhancing corporate earnings.
 

Moreover, large developments planned by Google, Apple, and Amazon, among other big corporate companies, along with investments in convention centers and amusement parks are likely to drive the coated steel market growth. Moreover, data center investments also witnessed strong growth in 2019, particularly in the downtown metro areas. The growing trends of hoteling and remote work flexibility are likely to further drive the datacenter demand, positively impacting the valuation of coated steel market.
 

Asia Pacific to hold a prominent share due to the presence of large construction activities

Coated Steel Market, By Region

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Asia Pacific will witness around 5% CAGR in coated steel market through 2027 owing to the strong presence of manufacturers across the region due to the growing end-use industries. The region is experiencing growth in office spaces, retail stores, and public safety construction activities. Additionally, a large-scale rural to urban shift in the population is anticipated to increase the demand for the products.

 

Moreover, the new construction projects are peaking, with approximately half of the new offices and residential supplies concentrated in the non-core or decentralized areas, particularly in Bangalore, Delhi, and Shanghai. The retailers are continuing to invest in physical stores across Asia Pacific, which is likely to drive the demand for coated steel.

 

The coated steel industry is highly competitive

The coated steel market is highly competitive with the top ten market players holding more than one-third of the market share. The manufacturers are adopting strategic initiatives, such as joint ventures, mergers & acquisitions, and production capacity expansion, to increase their market shares and business productivity. For instance, in 2019, JSW Steel acquired Asian Colour Coated Ispat (ACCIL). The company has a total installed capacity of 1 million ton annually, which includes facilities for galvanizing, cold-rolling, and producing 300 thousand metric tons annually for color coating, thereby improving the JSW Steel presence in the India color coating steel market.

 

Some of the key manufacturers in the coated steel industry include ArcelorMittal, Essar Steel, POSCO, Voestalpine AG, JFE Steel Corporation, Nippon Steel Corporation, OJSC Novolipetsk Steel, Baosteel Group, SSAB AB, Severstal, JSW, ChinaSteel, Kobe Steel Ltd., Nucor, and Tata Steel.
 

The coated steel market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2021 to 2027 for the following segments

By Type

  • Metallic Coated Steel
    • Hot-dip Galvanized (HDG)
    • Electrogalvanized (EG)
    • Others
  • Organic Coated Steel
  • Tinplate

By Application

  • Building & Construction
  • Appliances
  • Automotive
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Vietnam
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Chile
  • Middle East & Africa
    • Turkey
    • Saudi Arabia
    • South Africa
    • UAE

 

Frequently Asked Questions (FAQ) :

Coated steel market size had exceeded USD 50 billion in 2020 and will observe a 4.4% CAGR through 2027 with the increasing use of coated steel in construction and automotive applications.
Coated steel is an economical and effective material which is majorly used to offer corrosion resistance to in automobiles, home appliances as well as buildings.
Electrogalvanized coated steel market will grow owing to its riding usage in manufacturing home appliances like washing machines, outdoor units of ACs, and precision machines.
Automotive segment had captured 20% share of coated steel market owing the increasing application for producing large and high-quality automotive components like automotive floors and roofs.
Asia Pacific coated steel market will witness over 5% CAGR through 2027 owing to the strong presence of manufacturers across the region due to the growing end-use industries.

Premium Report Details

  • Published Date: Oct 2021
  • Pages: 200
  • Tables: 169
  • Charts / Figures: 23
  • Companies covered: 15
  • Countries covered: 21

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