Coated Steel Market Size – USD 23.90 Billion in 2019, Growth - CAGR of 5.2%, Trends – Growing downstream industries during forecast period

NEW YORK CITY, NEW YORK, UNITED STATES, September 12, 2022 /EINPresswire.com/ -- The global Coated Steel market is forecast to reach USD 34.90 Billion by 2027, according to a new report by Reports and Data. The driving factors noted for the global coated steel market is increasing requirement from end-use sectors such as construction, automobile industries, and appliances; growing competition in the sector; relatively cheap than electro-galvanizing process; quality of products and differentiation; cutting edge durability; and fluoropolymer continues to expand in the renovation & construction market.

Advances in the methods are also anticipated through automation technology to foster market growth period. Automation has helped curb human interference in the process, which in turn results in enhanced performance. As a result, in the coming years, the market is likely to record a remarkable development.

The demand is likely to be fundamentally driven by the increase in the construction portion. In addition to the rising emergence of electronic creations in different regions, together with the upswing of the exchange section of an exceptional electronic reseller, it is foreseen to assist in the development of such materials in the coming years. Steel coating increases steel’s longevity by improving its corrosion-resistant properties and providing high rusting protection along with an aesthetic look.

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Top Companies: ArcelorMittal S.A., SSAB AB, Salzgitter AG, OJSC Novolipetsk Steel, Voestalpine AG, ThyssenKrupp AG, Nippon Steel, Sumitomo Metal Corporation, Essar Steel Ltd., Tata Steel Ltd., and Jindal Steel & Power Ltd., among others.

Further key findings from the report suggest

The APAC is expected to intensify with an estimated 8.4% CAGR, due to the booming construction industry, the demand in emerging nations such as China and India is rising. The government has taken steps for urbanization, and industrialization has led to the rapid growth of the production sector in the country, which will have a significant impact on regional growth.
North America is the second-biggest market trailed by the Asia Pacific due to rapidly increasing semiconductors and electronics. The U.S. soared as the largest market for the components in North America in 2019. This has been credited with the introduction of the country's refurbishing business.
The construction industry established as the most significant application segment, and in 2019 was valued at USD 5.16 billion.
The furniture industry is a sector of low concentration. As the most preferred material for furniture has become wood, the market demand in the segment has moved as well, many new competitors enter this sector, and a substantial part of the demand accounted for by small businesses.

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Product Type Outlook (Revenue, USD Billion; 2017-2027)

Color Coated
Metallic Coated

Resin Type Outlook (Revenue, USD Billion; 2017-2027)

Polyester Color Coated Steel
Fluro-Polymer Color Coated Steel
Siliconized Polyester Color Coated Steel
Plastisol Color Coated Steel
Others

Application Outlook (Revenue, USD Billion; 2017-2027)

Automotive Industry
Domestic Appliances
Construction Industry
Furniture
Packaging
Fabrication
Others

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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The Coated Steel market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Coated Steel market.

The global Coated Steel market is segmented into:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Questions Addressed in the Report:

What are the dominating factors that are influencing the growth of the industry?
In the forecast period, which market segment is expected to rise the most?
What are the risks and challenges that the industry is facing?
In the coming years, which area is projected to dominate the market?
Who are the major players in the market?
What kind of strategic business plans have they made?

About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Reports and Data
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