Contact us

  • 6218 Georgia Avenue NW Ste 1 - 564 Washington, DC 20011-5125, United States.
  • Email:[email protected]
  • Call Us: tel:+1(202)380-9727
    • EN
      • English
      • French
      • German
[Market Research Reports] – Research Google News Blog | VMR.Biz
  • Home
  • Services
    • Technology & Solutions
    • Consumer Survey
    • Data Analytics
    • Consulting & Advisory
    • Off-The-Shelf Research
  • Category
    • Advanced Materials
    • Aerospace and Defense
    • Agriculture
    • Automotive Transportation & Logistics
    • Banking Financial Services & Insurance
    • Biotechnology and Life Sciences
    • Building and Construction
    • Chemicals
    • Energy and Power
    • Food & Beverage
    • Healthcare
    • Heavy Industry
    • Mining Metals and Minerals
    • Semiconductor & Electronics
    • Technology & Media
    • Consumer Goods and Packaging
  • About Us
  • Contacts
Phone Call
+1 (202) 380-9727
[Market Research Reports] – Research Google News Blog | VMR.Biz
  • Home
  • Services
    • Technology & Solutions
    • Consumer Survey
    • Data Analytics
    • Consulting & Advisory
    • Off-The-Shelf Research
  • Category
    • Advanced Materials
    • Aerospace and Defense
    • Agriculture
    • Automotive Transportation & Logistics
    • Banking Financial Services & Insurance
    • Biotechnology and Life Sciences
    • Building and Construction
    • Chemicals
    • Energy and Power
    • Food & Beverage
    • Healthcare
    • Heavy Industry
    • Mining Metals and Minerals
    • Semiconductor & Electronics
    • Technology & Media
    • Consumer Goods and Packaging
  • About Us
  • Contacts

Structural Steel Market 

HomeStructural Steel Market 
Advanced Materialsby Ashley HancockJanuary 25, 2023

Global Structural Steel Market 

In building crucial infrastructure, structural steel, a type of carbon steel, is employed in a range of shapes. To compensate for concrete’s low tensile strength, it is primarily used as a reinforcement material. Steel can redistribute stress due to its flexibility and resistance to lengthwise stress. Appropriate industry standards define structure steel based on its chemical makeup and tensile characteristics, which can be changed to fulfill certain building specifications. Among other prominent forms of structural steel are universal beams, angled sections, and columns.

Recession Impact

The recession will significantly affect the world market for structural steel, according to the VMR. As more nations enter a recession, the already sluggish development of the global market is expected to decrease considerably more. According to thorough new research by the Globe Bank, the world may be moving closer to a global recession in 2023, as well as a string of financial crises that would irreparably affect emerging markets and developing economies as central banks simultaneously boost interest rates to fight inflation. In addition, central banks are expected to raise the average rate of their monetary policies internationally to roughly 4% by 2023, up more than 2% from their average in 2021, according to investors.

Market Dynamics

Infrastructure developments in developed and emerging countries are anticipated to continue to be the main drivers of structural steel demand. The increased housing needs brought on by the expanding population worldwide are one of the key factors affecting product demand. Additionally, structural steel is regarded as a green building material because of its recycling capabilities. It follows that market growth in the upcoming years is predicted to be fueled by an increase in the nation’s stock of green buildings. The market for structural steel is expected to grow gradually in the future years due to rising disposable income and technological advancements in prefabricated and pre-engineered building projects across the whole construction industry. Furthermore, the strong need for infrastructure in developing countries like China and India is expected to drive up the structural steel industry in the coming years. Nevertheless, the building sector’s market growth may be constrained by a need for more awareness of these structural steel advantages. The fluctuating cost of raw materials is the main problem impeding the market expansion for structural steel.

Regional Analysis

The Asia Pacific region dominates the global structural steel market. The increasing population in the area is attributable to this rise. Governments are developing housing policies and building smart cities to suit the region’s growing population’s housing needs. Increased demand for non-residential buildings, such as commercial buildings for job purposes, is another effect of the expanding population. These elements are anticipated to fuel the structural steel industry’s market expansion in the Asia Pacific region.

On the other hand, the second-largest market for global structural steel is in North America. The need for structural steel in this region is being driven by the exponential rise of the residential and housing sectors, leading to a structural steel industry boom. Significant economic losses were brought on by the COVID-19 epidemic in North America, mainly in the United States and Mexico. However, this region’s building and construction industry is anticipated to rebound in the following years, during the second quarter of 2020.

Key Companies

Notable and prominent players in the Global structural steel market include- Clariant AG (Switzerland), BASF SE (Germany), Huntsman International LLC (US), Bayer AG (Germany), The DOW Chemical Company (US), Solvay (Belgium), Nufarm (Australia), Evonik Industries AG (Germany), Croda International PLC (UK), Helena Agri-Enterprises LLC (US), Ashland Inc. (US), Land O’ Lakes Inc. (US), FMC Corp. (US), ADAMA Ltd. (Israel), Stepan Company (US), Baogang Group (China), Gerdau S.A. (Brazil), Nippon Steel Corporation (Japan) and others.

Tags:
Structural Steel Structural Steel industry analysis Structural Steel industry size Structural Steel share Structural Steel trends

Post navigation

  • Prev post
  • Next post




    Recent Posts

    • Acrylic Elastomers Market
      January 31, 2023
    • Solar Power Market
      January 30, 2023
    • Solar Thermal Market
      January 30, 2023
    • Zero Emission Vehicle (ZEV) Market
      January 29, 2023
    • Rechargeable Battery Market
      January 29, 2023
    • Nanocellulose Market
      January 29, 2023
    • End Of Line Packaging Market
      January 29, 2023
    • Bitumen Market
      January 29, 2023
    • Virtualized Evolved Packet Core Market
      January 25, 2023
    • Structural Steel Market 
      January 25, 2023
    • Metal Stamping Market
      January 25, 2023
    • Metal and Ceramic Injection Molding Market 
      January 25, 2023

    Subscribe Our Newsletter Get update

    Research Revolutionized
    A tech-driven & tech-enabled market research company.

    Discover More

    Our Services

    • Technology & Solutions
    • Consumer Survey
    • Data Analytics
    • Consulting & Advisory
    • Off-the-Shelf Research

    Support

    • Help & FAQ
    • Contact Us
    • Privacy & Policy

    Contact Us

    Address

    6218 Georgia Avenue NW Ste 1 - 564 Washington, DC 20011-5125, United States

    Phone :

    +1 (202) 380-9727

    E-mail :

    [email protected]

    Facebook-f Twitter Linkedin-in Youtube

    © 2023 Powered by Vantage Market Research. All rights reserved

    • Faq
    • About Us
    • Contact

      More Questions ?