The Global Steel Building Materials Market is projected to grow at a moderate CAGR and is estimated to reach 998.6 Million Tons by 2027 between 2020-2027.
Steel is an important material/alloy used in the construction sector for building strong and sustainable infrastructure. Steel is used in architectural cladding, roofing, frame, building foundation, electrical panels, among many other application areas owing to its excellent flexibility, durability, versatility, rigidity, and strength.
Market Driver:
Globally, increasing disposable income is the prominent factor contributing towards expansion of middle class population. Increasing globalization, changing consumer preference patterns along with ongoing urbanization, favoring towards achieving higher wages than usual, is further supporting the expansion of middle class population. As per European Commission, the middle class population is projected to expand till 5.3 billion by 2030. Increasing middle class population, along with betterment in living standards is prominent contributor in consuming construction products and services, is projected to drive the demand for steel building material.
Ongoing industrialization, an outcome of booming economies worldwide is driving attention towards investment in the commercial infrastructure. Booming construction sector, increase in working population along with increasing Foreign Direct Investment (FDI) for construction of commercial spaces is fueling the growth of this market.
Market Restraint:
The growth of the steel building material market is mainly hampered by fluctuating price of raw materials. Additionally, economic growth, escalating zinc cost, overtakes the product demand from the actual supply pushing cost of steel upwards. Limited amount of resources such as scrap metal and iron ore for production of steel, escalates the overall steel prices due to the demand-supply gap.
The report on the steel building materials market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) and Volume (Million Tons) |
Segments Included |
Type, Application and End-user |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Steel Building Materials Market, by Type
Steel Building Materials Market, by Application
Steel Building Materials Market, by End-user
Steel Building Materials Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STEEL BUILDING MATERIALS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY