Continuous modernization, up gradation of existing infrastructure and power plants are the key drivers for the growth of flat steel market. Additionally, cost effective and highly efficient steel making technologies, uplifted the flat steel market. Flat steels market is expected to cross USD 640 billion at the end of the forecasted period and is expected to grow at CAGR of 6% from 2016 to 2022.
Flat Steel Market – Competitive Analysis
Flat steel market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, manufacturers strive to develop products that can deliver optimal adhesion, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of products for flat steels for every application.
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Industry/ Innovation/ Related News:
6 October 2015: United States Steel announced possible consolidation of flat-rolled operations. The company worked closely with its customers and continued to operate its steelmaking operations in Indiana, Michigan and Pennsylvania.
5 MAY 2017: Essar Steel, signed a long-term supply agreement with global major Posco for the supply of 1.1 million tonne of flat steel products during the current financial year.
20 September 2017: ThyssenKrupp AG and Tata Steel Ltd. reached a tentative deal to merge their European steel businesses to create the continent’s No.2 steelmaker after ArcelorMittal.
5 January 2017– Brazilian flat steel producers have notified distributors they are raising prices of hot- and cold-rolled steel between 8 percent and 10 percent.
The key players of Flat Steel Market report include- United Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Essar Steel, Tata Steel Ltd, Hyundai Steel Co., POSCO, SSAB, ArcelorMittal, Voestalpine, and ThyssenKrupp.
Flat Steel Market – Regional Analysis
The global flat steel market by region has been segmented into North America, Europe, Asia-Pacific and Rest of the world. This market has seen a substantial growth over the past few years and it has been experienced that the market will remain on the same growth level till forecast period. Among the regions covered, Asia-Pacific has accounted the largest market for flat steel market followed by Europe and North America.
Key questions answered in this report
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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