Coated Steel Market Size

Coated Steel Market Size

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.

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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.