Home > Pressrelease > Profiled Steel Sheet Decking Market size to surpass $17 Bn by 2032
Profiled Steel Sheet Decking Market size to surpass $17 Bn by 2032
- Published Date: March 15, 2023
Profiled Steel Sheet Decking Market size is set to reach USD 17 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
Optimal resource use, minimal cost, and well-organized structural systems are considered crucial components of a building. There is a growing interest in developing strategies to better understand and address the effects of building materials, as a result of which steel structures are becoming more common in the construction and residential buildings sector due to their recyclable and reusable features, as technology and economies progress towards sustainability. The demand for profiled steel sheet decking is projected to rise owing to the emergence of steel as a primary material in civil engineering constructions through 2032.
Higher strength-to-cost ratio to push cold rolled steel segment growth
Based on product, the cold rolled steel segment of profiled steel sheet decking market is poised to witness around 10% CAGR between 2023 and 2032. Cold rolled steel has a high strength-to-cost ratio, which makes it ideal for high-stress use in high-rise buildings. Cold rolled deck steel sheet is also a steel profile with ribs and embossments that aid in the bonding with the concrete slab and together constitute a part of the floor structure. Components manufactured with cold rolled steel have a clean and bright surface that is free of corrosion and scale, which is increasing product preference.
Browse key industry insights spread across 228 pages with 315 market data tables & 39 figures & charts from the report, “Profiled Steel Sheet Decking Market Size, By Product (Galvanized Steel [Double Side Primer Coated, Pre-Coated Underside], Cold Rolled Steel), By Application (Decking, Flooring), By End-use (Residential, Commercial, Industrial), COVID-19 Impact Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032”, in detail along with the table of contents:
Increasing usage for high-rise building construction to fuel flooring segment revenue
In terms of application, the profiled steel sheet decking market from the flooring segment is likely to exceed USD 7 billion by 2032. Steel sheet decking has emerged as a versatile and sustainable flooring solution that is widely recognized for reducing onsite construction time. The growing use of steel decking solutions for the flooring system of medium- to high-rise buildings, as well as the provision of an elegant structure that provides acoustic performance, fire protection, and greater thermal mass, is predicted to contribute significantly to segment growth.
Rising preference for green construction methods to boost residential segment growth
Based on end-use, the profiled steel sheet decking market from the residential segment is slated to depict more than 8.5% growth rate through 2032 impelled by the rapid shift towards green construction led by the rising necessity to conserve energy and resources while also preserving a sustainable environment. Moreover, favorable government initiatives to promote sustainable and green construction methods are expected to propel segment development.
Growing use of sustainable construction materials to augment North America industry share
North America profiled steel sheet decking market is estimated to surpass USD 3.5 billion by 2032 due to the rising demand for more housing and infrastructure. Engineering and construction firms in North America are driving the reinvention of the building ecosystem by the increasing use of sustainable construction materials to significantly reduce carbon emissions, which is anticipated to promote regional market. Additionally, businesses are taking efforts to break into untapped markets in order to fulfil expanding product demand.
Strategic efforts to improve manufacturing capabilities define the competitive landscape
D-MAC Industries, Inc., Nippon Steel Corporation, ASC Steel Deck, Vulcraft Group, Kingspan Group, TATA Steel, Marlyn Steel Decks, Verco Decking, Inc., and Emirates Building System are among the major enterprises operating in the global profiled steel sheet decking market, which are concentrating on strategic initiatives including product portfolio expansion, collaborations, acquisitions, and capacity expansion.