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Global Cold Rolled Steel Coil Market To Grow At A Steady CAGR of 1.78% During The Forecast Period

The global cold-rolled steel coil market size was worth around USD 143.26 million in 2022 and is predicted to grow to around USD 165.02 million by 2030 with a compound annual growth rate (CAGR) of roughly 1.78% between 2023 and 2030.

Global Cold Rolled Steel Coil Market Size

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The cold-rolled steel coil is a type of steel that has undergone a cold-rolling process that involves passing the steel through a series of rollers at room temperature to impart certain mechanical properties and characteristics to steel. Cold-rolled steel offers several advantages as compared to hot-rolled steel. This includes an improved surface finish, dimensional accuracy, and mechanical properties. This variant of steel has multiple applications across some of the fastest-growing sectors including automotive, construction, manufacturing, appliances, and others. The industry deals with a wide range of activities and includes the production of cold-rolled steel coils by steel manufacturers along with the supply chain involved in the distribution of these coils to end-users and the trading and sales activities carried out by market players.

This review is based on a report by Zion Market Research, titled “Cold Rolled Steel Coil Market By Application (Industrial Equipment, Automotive, Construction, And Others), By Product Type (Panel & Decks And Individual Structural Framing Members), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/cold-rolled-steel-coil-market

The global cold-rolled steel coil market is projected to grow owing to the increasing consumption of such steel products in construction and infrastructure development projects. This is especially witnessed in emerging economies that are investing heavily in developing national or regional infrastructure. They are further aided by the extensive and growing participation from the private sector which plays a crucial role in construction and building activities. These economies are relying on high-quality steel along with other components to build world-class architecture and cold-rolled steel coils can efficiently meet this requirement.

Additionally, the rise in the manufacturing sector across developing and developed nations could boost the cold-rolled steel coil industry further owing to their application in the production of appliances, machinery, and equipment. The rampant industrialization has resulted in higher demand for high-grade building and manufacturing materials thus impacting the market growth trajectory. The rising population and the surging rate of urbanization coupled with changing consumer consumption patterns have caused more investment in developing power plants and transportation networks. All of these activities require high-quality steel with excellent properties leading to more inclination toward cold-rolled steel coil.

One of the crucial growth barriers existing in the global cold rolled steel coil market is in terms of trade protectionism measures which include import and tariff restrictions. Such measures may disrupt supply chains while also increasing the cost of production and limiting market access for manufacturers. Additionally, the presence of substitute materials and the ongoing research to develop more efficient alternatives to steel in all forms could also cause slower growth. Other factors such as disruption in the supply chain and economic slowdown are expected to limit the market expansion rate.

The increasing demand for electric vehicles (EVs) may provide growth opportunities while the intense competition could challenge market growth.

Global Cold-Rolled Steel Coil Market Size

The global cold-rolled steel coil market is segmented based on application, product type, and region.

Based on application, the global market segments are industrial equipment, automotive, construction, and others. The market was led by the automotive sector in 2022 since cold-rolled steel coils are used extensively for the production of automotive parts and components. This includes body panels, chassis, and several other structural parts. As the automotive industry is always seeking lightweight materials exhibiting high strength, cold-rolled steel coils exactly fit the requirements. Growing demand for safety, fuel efficiency, and vehicle aesthetics could lead to higher consumption of this form of steel as compared to hot-rolled steel coils. According to a Statista report, nearly 2.86 million cars were sold in the US in 2022. In the construction sector, cold-rolled steel coils are used for producing components such as trusses, columns, and beams. This segment is also crucial to the overall market expansion strategy.

Based on product type, the cold rolled steel coil industry is segmented into panels & decks, and individual structural framing members. The highest CAGR was observed in the individual structural framing members segment in 2022 due to the greater application of cold-rolled steel coils in the production of these components. They are responsible for providing support, stability, and load-bearing capacity to buildings or other structures. Individual structural framing members are crucial in the construction sector as they bear the loads and the weight of the structure. This ensures the maintenance of structural integrity and stability. Cold-rolled steel coils are preferred in the production of these products owing to their high strength, dimensional accuracy, and consistency in material properties. Cold-rolled steel exhibits a tensile strength of 85000 psi while that of hot-rolled steel is 67,000 psi.

Asia-Pacific is expected to lead the global cold-rolled steel coil market owing to the rising infrastructure investments across South Korea, Japan, India, China, and Singapore. Some Asian nations have witnessed a higher rate of growth in terms of the construction sector due to growing housing needs and expanding commercialization along with industrialization. China and India are home to the world’s most efficient manufacturing lines and have become leading suppliers of steel and other components required in the construction sector. Growth in North America is likely to be driven by the rising application in the automotive sector and the increasing demand for lightweight heavy vehicles. Furthermore, the robust construction sector of the US and Canada with multi-billion dollar projects underway could also aid better regional CAGR during the forecast period.

Recent Developments:

  • In March 2022, Zaporizhstal, the fourth-largest steel maker in Ukraine, announced that it was planning to launch a cold-rolling plant that will assist in amping the production of cold-rolled coils in the country
  • In April 2022, ArcelorMittal Nippon Steel India announced that it will set up a new cold roll mill which will be a part of its INR 8,500-crore expansion plan. The facility will be constructed in the Hazira region of India
  • In May 2021, JFE Steel Corporation announced the development of a hot-continuous-rolling (endless-rolling) process for the manufacturing of high-tensile-strength steel sheets (HITEN)

Cold-Rolled Steel Coil Market: Competitive Analysis

The global cold-rolled steel coil market is led by players like:

  • ArcelorMittal
  • Nippon Steel Corporation
  • Baosteel Group Corporation
  • Thyssenkrupp AG
  • JFE Steel Corporation
  • Tata Steel
  • United States Steel Corporation
  • AK Steel Holding Corporation
  • Severstal
  • Nucor Corporation
  • Voestalpine AG
  • China Steel Corporation
  • BlueScope Steel Limited
  • Hyundai Steel Company
  • Marcegaglia Group
  • Novolipetsk Steel (NLMK)
  • JSW Steel Limited
  • Essar Steel
  • SAIL (Steel Authority of India Limited)
  • Shougang Group
  • Evraz Group
  • Gerdau S.A.
  • Outokumpu Oyj.

The global cold-rolled steel coil market is segmented as follows:

By Application

  • Industrial Equipment
  • Automotive
  • Construction
  • Others

By Product Type

  • Panel & Decks
  • Individual Structural Framing Members

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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