Flat Steel Market 2021 Global Industry Analysis By Trends, Size, Share, Company Overview, Growth And Forecast By 2026

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Flat Steel Market 2021 Analysis by Size, Share,
Growth, Trends up to 2026
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Global Market Scenario of Flat Steel Industry

• Rising demand for flat steel in automotive and
  construction applications is likely to boost the
  overall market size. On this note, estimates
  claim that flat steel market size could cross USD
  635 billion by the end of 2026.
• The growing requirement of flat steel for
  energy-efficient constructions and lightweight
  vehicles has propelled its production. Also, with
  the implementation of effective solutions, the
  overall utilization of flat steel shall increase
  over the forecasted timeframe.
• Increased insistence for flat steel products
  across various industries is one of the key
  factors driving the market growth. To support
  this statement with an instance, an article
  published in the metalbulletin stated that flat
  steel product distributors in the European region
  have registered a rise of 8.9 in product
  shipments during November 2020.
• Speaking of which, the energy industry is one of
  the primary users of steel for manufacturing
  renewable products. With a rising need for
  environmental-friendly products, flat steel bars
  have garnered more importance than ever. They can
  offer support to water-gates and turbines by
  providing foundation within concrete-reinforcing
  bars. Such a crucial utilization of flat steel
  can significantly contribute to industry growth.

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• Construction sites are some of the major sources
  of emitting carbon. In fact, a data point
  provided by the World Steel Association states
  that building operations held for over 28 of the
  total carbon emissions worldwide. Flat steel
  products are durable, versatile and recyclable,
  further contributing minimal carbon footprints.
  Owing to such benefits, the adoption of flat
  steel in building and construction industry is
  rising considerably.
• Government initiatives in North America to surge
  the usage of flat steel
• Presence of a substantial number of automotive
  players coupled with increased disposable income
  has resulted in a rising demand for commercial
  and passenger vehicles in North America.
  Moreover, governments are undertaking initiatives
  for creating awareness pertaining to carbon
  emissions has shifted the focus of consumers from
  traditional gasoline vehicles to electric
  vehicles, thereby fueling the flat steel market
  growth owing to its major usage in manufacturing
  EVs.
• In a nutshell, increased consumer awareness
  regarding the advantages of flat steel such as
  high strength, design flexibility, low
  construction cost and maintenance has boosted the
  production of flat steel globally.

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360 Industry Analysis

• Unique marketing strategies by manufacturers
• Many steel manufacturers are undergoing strategic
  mergers and acquisitions for expanding their
  business operations. Supporting the aforesaid
  with an instance, Tata steel acquired Bhushan
  Energy in June 2019 and this acquisition will
  help the company in proving high quality and high
  performance steel to various consumer industries.
• Furthermore, Nippon Steel, in March 2019,
  acquired over 51 of the Sanyo Special Steels
  common shares, which has made Sanyo a legal
  subsidiary of NSSMC. Such mergers and
  acquisitions by key players shall increase the
  consumer base of flat steel.
•  

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• Competitive Analysis
• Some of the major manufacturers of flat steel are
  Tata Steel, Hyundai Steel, Voestalpine Group,
  Thyssenkrupp AG, Essar Steel, ArcelorMittal and
  Allegheny Technologies.

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