From GlobeNewswire: 2025-02-21 10:00:00

The global structural steel market is on the rise, with a projected valuation of USD 169.60 billion by 2032, growing at a CAGR of 4.95% from 2024 to 2032. Urbanization and sustainable construction practices are driving market growth, with prefabricated steel structures gaining popularity in commercial and residential applications.

Key players in the market include Anshan Iron & Steel Group, ArcelorMittal, Baogang Group, and more, offering a variety of structural steel products. The market size is expected to reach USD 169.60 billion by 2032, with a CAGR of 4.95% from 2024 to 2032.

Asia-Pacific leads the structural steel market, with China driving growth due to extensive infrastructure projects. India is emerging as a significant market, with investments in smart cities and highways. Favorable policies promoting sustainable construction are accelerating the adoption of high-performance steel materials in the region.

In 2023, carbon-manganese steel held the largest market share, offering good strength and ductility for various construction applications. Beams dominated the market in 2023, serving as essential structural elements in construction projects. The industrial application segment led the market, with structural steel used in industrial facilities and manufacturing plants. Nippon Steel Corporation expands structural steel production capacity in 2023 to meet growing demand in Asian and North American markets, enhancing market presence and supply chain efficiency. The new product line focuses on reducing carbon emissions in construction projects while maintaining durability and performance. Structural Steel Market Report includes market dynamics impact analysis, statistical insights, competitive landscape, regional analysis, and company profiles. SNS Insider offers market research and consulting services globally, providing clients with current market data, consumer insights, and opinions to make confident decisions. Contact [email protected] for more information or customization options.



Read more at GlobeNewswire: Structural Steel Market Projected to Reach USD 169.60