The global structural steel market size is expected to be US$ 94.1 billion in 2021.The global structural steel market is forecast to grow to US$ 151.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.
The global structural steel market is forecast to gain traction during the forecast period. It is owing to the growing number of construction activities all across the world. Further, growing initiatives from government bodies to improve public infrastructure will drive the market forward.
The rapidly growing population and their increasing demands will escalate the market growth during the study period. Furthermore, rising urbanization and industrialization will offer ample growth opportunities for the structural steel market.
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The high quality of structural steel will benefit the market in the coming years. Moreover, companies are also focusing on developing advanced and high-quality products, which will benefit the overall market.
The global structural steel market witnessed significant disruptions due to the pandemic. Due to the wake of this national emergency, the maximum number of construction activities were put on halt. According to a report by World Steel Association, the demand for finished steel reduced by around 2.4% in 2020. In addition, the shutdown of manufacturing units and a shortage of labor disrupted the supply chain flow, which ultimately hampered market growth.
The Asia-Pacific structural steel market is forecast to register potential growth due to the growing number of projects related to housing construction activities in emerging economies. In addition, favorable policies from government bodies to enhance infrastructure will surge market growth. The presence of prominent industry players, such as Tata Steel, JSW Steel, etc., will contribute to the growth of the market.
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The global structural steel market segmentation focuses on Product, Application, and Region.
>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
>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
>40 mm to <100 mm
>100 mm to <250 mm
>250 mm to <350 mm
>350 mm to <500 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
>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
>40 mm to <100 mm
>100 mm to <250 mm
>250 mm to <350 mm
>350 mm to <500 mm
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Middle East & Africa (MEA)
South AfricaRest of MEASouth AmericaBrazilArgentinaRest of South America
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