Structural Steel Market Size, By Product (Heavy Structural Steel [Angle[L Shaped], Bearing Pile [H Shaped], Channel [C Shaped], I Beam [ I Shaped], Tee [T Shaped], Pipe, Hollow Steel Section [HSS] {Square Hollow Section [25*25mm to <400*400mm], Rectangular Hollow Section [50*25mm to <450*250mm], Circular Hollow Section [20mm to <500 mm]}, Light Structural Steel [Angle[L Shaped], Bearing Pile [H Shaped], Channel [C Shaped], I Beam [ I Shaped], Tee [T Shaped], Pipe, Hollow Steel Section [HSS] {Square Hollow Section [25*25mm to <400*400mm], Rectangular Hollow Section [50*25mm to <450*250mm], Circular Hollow Section [20mm to <500mm]}, Rebar), By Application (Residential, Non Residential [Commercial, Institutional, Offices, Health Buildings], Industrial [Energy Development {Onshore Structure, Offshore Structure}], Station & Hangers, Bridges), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI2207  |  Authors: Kunal Ahuja, Sonal Singh

Report Format: PDF   |   Pages: 1084   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Overview

Structural Steel market size exceeded USD 285 Billion, globally in 2019 and is estimated to grow at over 7.5% CAGR between 2019 and 2026. Increasing residential & non-residential construction activities and rising demand of steel products as construction materials will foster the industry growth.

Structural Steel Market Outlook

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Structural steel is a category of steel used in construction industry and welded in various shapes and grades. It takes shapes and form of an elongated beam having different cross-sectional shapes. Its shapes, sizes, chemical composition and properties are regulated by a standard set forth by agencies and organization for most countries.

Urbanization and construction provide a strong demand for steel long products including bars and sections while the growth of manufacturing industry provides demand for flat products like hot & cold rolled coil and stainless steel, which is likely to have a positive outlook in the structural steel market share.

These products show superior properties including high strength, ductility, ease of fabrication, seismic resistance, and fast erection speed. Structural steel finds immense applications in the non-residential construction including airports, manufacturing facilities, healthcare facilities, and retail stores. Global airport construction projects are valued above $735 billion. Increasing number of airport projects owing to growing tourism will foster the structural steel market.

Companies are investing on technological advancements and new product launches in order to improve production efficiency and provide quality product. For example, In November 2015, ArcelorMittal launched a new product, Granite Quartz. It is an organic coated steel with good scratch resistant properties for facades and roofs, providing beautiful crystalline color shades.

Structural steel demands an expensive fireproof treatment and is susceptible to corrosion in outdoor atmospheres. This may hamper industry growth to some extent, however, rising product demand owing to increasing industrialization and construction activities will drive the structural steel market growth.

Structural Steel Market Report Coverage
Report Coverage Details
Base Year:2019Historical Data for:2015 to 2019
Market Size in 2019:USD 290.7 BillionForecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:7.7%No. of Pages:1084
2026 Value Projection:USD 503.8 Billion Tables, Charts & Figures:1643
Geographies covered (39):U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, Sweden, Netherlands, Belgium, Hungary, Romaina, Luxembourg, China, India, Japan, South Korea, Australia, New Zealand, Malaysia, Thailand, Vietnam, Indonesia, Taiwan, Myanmar, Brazil, Argentina, Venezuela, Chile, Turkey, Saudi Arabia, UAE, Iran, South Africa, Egypt, Algeria
Segments covered:Product, Application
Growth Drivers:
  • North America: Growing Steel consumption and increasing residential housing units
  • Europe: Growth in Residential and Non-Residential infrastructure
  • Asia Pacific: Growing infrastructure and increasing number of skyscrapers
Pitfalls & Challenges:
  • Corrosion
  • Expensive fireproof treatment
  • Fatigue and Fracture in steel

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Rising heavy structural steel demand for construction purposes will foster industry size

Structural Steel Market by Product

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Heavy structural steel segment will witness significant gains over 5.5% through 2026. These are hot rolled long products with cross-section resembling the letter I, H or U. The horizontal elements of the "I" are better known as flanges, however the vertical element is called web. The web height is equal to or greater than 80 mm.

Rise in infrastructure spending on highways, bridges, buildings and public utilities will supplement the overall structural steel market value. Upsurge in smart city projects supported by government and private financing will increase product utilization.

A steel pipe is a cylindrical tube and is widely utilized in the steel industry. The primary use of steel pipes is in the transport of products including oil, gas, and water over long distances. Heavy structural steel product range includes universal beams, universal columns, parallel flange channels, universal joints, rails & equal angles.

Interarch offers Infrastructure heavy steel construction solutions that are engineered for large projects and heavy steel application to enable projects to achieve quality construction with speed and optimal cost, which is likely to drive the structural steel market outlook in the forecasted timeframe.

Growth in residential developments will foster structural steel demand

Structural Steel Market by Residential Application  

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Residential application segment is anticipated to witness significant gains over 5.5% through 2026. Growing vertical model of development to rebuild old residential apartments lying in a decrepit condition will drive product demand. Governments are likely to demolish old apartments to avoid accidents during natural calamities. Rising construction of civic amenities and new houses under urban development programs will fuel the structural steel market value.

Structural systems including beams and columns are utilized in residential buildings. Increasing residential construction globally owing to rising income levels and urbanization has led to increase in construction projects. Builders are focusing on construction material quality in order to build a strong building base. Rising product utilization in constructing residential buildings will have a positive impact on structural steel market trends.

Increasing number of skyscrapers in Asia Pacific may enhance structural steel industry size

Structural Steel Market in Asia Pacific

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Asia Pacific is anticipated to witness strong gains rising over 4.5% through 2026, due to the increasing number of skyscrapers in the region. The Asia Pacific accounts for 66% of the total number of skyscrapers, which is likely to propel structural steel market size in the region.

Structural steel is extensively used in the construction of skyscraper due to its features including high strength to volume/mass ratio, time-saving operations, lightweight, less space occupancy, and the fact that it is designed for larger columns of free spaces.

A recent announcement by the Chinese government to spend on infrastructure projects including railways, the One Belt, and One Road link to Europe may stimulate the structural steel market during the forecast timeframe. Improved living standards, growing urbanization, and requirements for quality construction in the commercial & residential sectors are the major growth drivers in this region.

New product launches and mergers & acquisitions to remain key business strategies by market players

Major players involve in the structural steel industry report including ArcelorMittal S.A, Nippon Steel & Sumitomo Metal Corporation, POSCO, VISA Steel, SAIL, Baosteel Company, Tata Steel, Novolipetsk Steel, Evraz Group, Steel Limited, Nucor Corporation, and JFE Steel Corporation.

Manufacturers are involved in product launches, innovations, and partnerships, in order to expand their product portfolio and increase their regional presence. In December 2019, ArcelorMittal and Nippon Steel completed the joint acquisition of Essar Steel India Ltd., which may allow the acquiring firms to exploit the long-term structural steel market in India. Essar Steel is a manufacturer of various steel products such as structural steel plates and line pipes.

In January 2019, Hesteel acquired a 70% stake in Indian steel producer Tata Steel  to expand its international market share, primarily in Southeast Asia which has witnessed increased expenditure on construction & infrastructure projects.

Structural steel market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026, for the following segments:

By Product

  • Heavy structural Steel
    • Angle [L Shaped]
    • Bearing Pile [H Shaped]
    • Channel [C Shaped]
    •  I Beam [ I Shaped]
    • Tee [T Shaped]
    • Pipe
    • Hollow Steel Section [HSS]
      • Square Hollow Section
        • 25*25 mm to 40*40 mm
        • > 40*40mm to <70*70 mm
        • >70*70 mm to <100*100 mm
        • >100*100 mm to <150*150 mm
        • >150*150 mm to <200*200 mm
        • >200*200 mm to <400*400mm
      • Rectangular Hollow Section
        •  50*25 mm to 60*40 mm
        • >60*40 mm to <100*50 mm
        • >100*50 mm to <150 * 100 mm
        • >150*100 mm to <200 * 150 mm
        • >200*150 mm to <300 * 250 mm
        • >300 * 250 mm to <450 * 250mm
      • Circular Hollow Section
        • 20 mm to 40 mm
        • >40 mm to <100 mm
        • >100 mm to <250 mm
        • >250 mm to <350 mm
        • >350 mm to <500 mm
  • Light Structural Steel
    • Angle [L Shaped]
    • Bearing Pile [H Shaped]
    • Channel [C Shaped]
    • I Beam [ I Shaped]
    • Tee [T Shaped]
    • Pipe
    • Hollow Steel Section [HSS]
      • Square Hollow Section
        • 25*25 mm to 40*40 mm
        • > 40*40mm to <70*70 mm
        • >70*70 mm to <100*100 mm
        • >100*100 mm to <150*150 mm
        • >150*150 mm to <200*200 mm
        • >200*200 mm to <400*400mm
      • Rectangular Hollow Section
        •  50*25 mm to 60*40 mm
        • >60*40 mm to <100*50 mm
        • >100*50 mm to <150 * 100 mm
        • >150*100 mm to <200 * 150 mm
        • >200*150 mm to <300 * 250 mm
        • >300 * 250 mm to <450 * 250mm
      • Circular Hollow Section
        • 20 mm to 40 mm
        • >40 mm to <100 mm
        • >100 mm to <250 mm
        • >250 mm to <350 mm
        • >350 mm to <500 mm
  • Rebar

By Application

  • Residential,
  • Non Residential
    • Commercial
    • Institution
    • Offices
    • Health Buildings
  • Industrial
    • Energy Development
      • Onshore Structure
      • Offshore Structure
  • Station & Hangers
  • Bridges
  • Others

The above information has been provided for the following regions and countries:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Poland
    • Sweden
    • Netherlands
    • Belgium
    • Hungary
    • Romania
    • Luxembourg
  • Asia Pacific          
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • New Zealand
    • Malaysia
    • Thailand
    • Vietnam
    • Indonesia
    • Myanmar
    • Taiwan
    • Brazil
    • Argentina
    • Venezuela
    • Chile
  • Middle East
    • Turkey
    • Saudi Arabia
    • UAE
    • Iran
  • Africa
    • South Africa
    • Egypt
    • Algeria

Frequently Asked Questions (FAQ) :

According to report, structural steel market size is estimated to be pegged at USD 503.8 Billion by 2026.
Structural steel market size is expected to grow at a crcr of 7.7% over the forecast period.
According to the report published by Global Market Insights Inc., the structural steel business is expected to hit at $500 billion (USD) by 2026.
Growing steel consumption and increasing residential housing units, rising infrastructure, increasing number of skyscrapers, and an upsurge in residential and non-residential infrastructure are the key factors expected to drive the growth of global market.
ArcelorMittal S.A., Shagang Group Co., Ltd., Hesteel Group Company Limited, Nippon Steel & Sumitomo Metal Corporation, POSCO, VISA Steel,Steel Authority of India Limited, Anyang Iron & Steel Group Co., Ltd, China BaoWu Steel Group Corporation Limited, Tata Steel, China Steel Corporation, Novolipetsk Steel, Evraz Group, Hyundai Steel Co., Ltd. (HSC), SHYAM STEEL INDUSTRIES LIMITED, Shaaban Steel, Gerdua S/A JSW Steel Limited, Maanshan Iron and Steel Company, Nucor Corporation, Nanjing Iron & Steel United Co.
The Asia Pacific region contributed to the highest market share in 2019 and is estimated to continue its lucrative run during the forecast period.

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Premium Report Details

  • Published Date: Mar 2020
  • Pages: 1084
  • Tables: 1570
  • Charts / Figures: 73
  • Companies covered: 40
  • Countries covered: 39

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