New York, June 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rolled And Drawn Steel Global Market Report 2023" - https://www.reportlinker.com/p06464148/?utm_source=GNW
Ltd., Shougang Group Co. Ltd., Jiangsu Shagang Group Co. Ltd., NLMK Group, ThyssenKrupp AG, JSW Steel Limited, Maanshan Iron and Steel Company Limited, United States Steel Corporation, Jianlong Group, Hunan Valin Steel Co. Ltd., Steel Authority of India Limited, China Steel Corporation, Hyundai Steel Co. Ltd., Barclay & Mathieson Ltd., Gerdau, Anyang Iron and Steel Group Co. Ltd., BlueScope Steel Limited, Yieh Phui Enterprise, BAOSTEEL GROUP, KG Dongbu Steel Co. Ltd., and Rautaruukki Oyj.
The global rolled and drawn steel market is expected to grow from $238.01 billion in 2022 to $256.52 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The rolled and drawn steel market is expected to reach $328.54 billion in 2027 at a CAGR of 6.4%.
The rolled and drawn steel market consists of sales of cold-rolled steel, hot-rolled steel, flat steel, and cold-drawn steel products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Rolled and drawn steel refers to steel that is initially cast from hot, molten material as huge steel slabs or billets.The billets are then fired until they reach a temperature of over 1700°F.
They are readily compressed into a lengthy sheet using a series of rollers at these elevated temperatures and are pulled through a succession of dies to create the required form.
Asia-Pacific was the largest region in the rolled and drawn steel market in 2022. The regions covered in the rolled and drawn steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of rolled and drawn steel are color-coated coil, continuous hot dip galvanized steel coil, carbon structural steel cold rolled coils, and deep drawing cold rolled coils.Color-coated rolled steel is a flat steel material that has been painted with protective ornamental paint.
It is manufactured by various processes including basic oxygen furnace (BOF), and electric arc furnace (EAF) and are used in automotive, construction, home appliance, machinery, and other applications.
The growing global automotive industry is expected to propel the growth of the rolled and drawn steel market in the coming future.The growing automotive industry is increasing the demand for automotive parts to maintain the interior and exterior look of the vehicle, improve longevity and the original quality of the vehicles, which in turn increases the demand for rolled and drawn steel.
For instance, Forbes, an American business magazine, estimated that global auto sales will increase by 4% in 2023 to 89.7 million. Also, according to the India Brand Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, the automotive industry in India is expected to reach 282.8 billion by 2026. This growth in the automotive industry will drive the rolled and drawn steel market.
Product innovation is the key trend gaining popularity in the rolled and drawn steel market.Major companies operating in the rolled and drawn steel market are focused on developing innovative products to strengthen their position in the market.
For instance, in May 2021, ArcelorMittal, a Luxembourg-based multinational steel manufacturing and mining corporation, launched Granite HDXtreme, a pre-painted steel created for usage in harsh environments.Granite HDXtreme is environmentally friendly since it is 100% biodegradable, devoid of chromates and heavy metals, and it has a lower carbon footprint than other materials like aluminum.
Its strength originates from its 75-m three-layer coating technique.Each layer serves a distinct yet crucial purpose.
The primer layer is crucial for preventing corrosion. A basecoat is applied on top of that to create the final color and assure the steel’s endurance. The coating is completed with a layer of varnish, which gives it texture, boosts its toughness and longevity, and improves its capacity to withstand UV (ultraviolet) rays.
In March 2023, ArcelorMittal, a Luxembourg-based multinational steel manufacturing and mining corporation, acquired Companhia Siderúrgica do Pecém (‘CSP’) for approximately $2.2 billion. Through this acquisition, ArcelorMittal aimed to capture steel demand growth, increase capacity and add finishing facilities. . Companhia Siderúrgica do Pecém is a Brazil-based manufacturer of steel products operating in the rolled and drawn steel market.
The countries covered in the rolled and drawn steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The rolled and drawn steel market research report is one of a series of new reports that provides rolled and drawn steel market statistics, including rolled and drawn steel industry global market size, regional shares, competitors with a rolled and drawn steel market share, detailed rolled and drawn steel market segments, market trends, and opportunities, and any further data you may need to thrive in the rolled and drawn steel industry. This rolled and drawn steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464148/?utm_source=GNW
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