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Structural Steel Market Size, Share & Analysis

Published Date: Mar 2020  |  Report ID: GMI2207  |  Authors: Kunal Ahuja, Sonal Singh

Industry Overview

Structural Steel market size exceeded USD 285 Billion, globally in 2020 and is estimated to grow at over 7.5% CAGR between 2020 and 2026. Increasing residential & non-residential construction activities and rising demand of steel products as construction materials will foster the industry growth.

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Structural steel is a category of steel used in construction industry and welded in various shapes and grades. It takes shapes and form of an elongated beam having different cross-sectional shapes. Its shapes, sizes, chemical composition and properties are regulated by a standard set forth by agencies and organization for most countries.

Urbanization and construction provide a strong demand for steel long products including bars and sections while the growth of manufacturing industry provides demand for flat products like hot & cold rolled coil and stainless steel, which is likely to have a positive outlook in the structural steel market share.

These products show superior properties including high strength, ductility, ease of fabrication, seismic resistance, and fast erection speed. Structural steel finds immense applications in the non-residential construction including airports, manufacturing facilities, healthcare facilities, and retail stores. Global airport construction projects are valued above $735 billion. Increasing number of airport projects owing to growing tourism will foster the structural steel market.

Companies are investing on technological advancements and new product launches in order to improve production efficiency and provide quality product. For example, In November 2015, ArcelorMittal launched a new product, Granite Quartz. It is an organic coated steel with good scratch resistant properties for facades and roofs, providing beautiful crystalline color shades.

Structural steel demands an expensive fireproof treatment and is susceptible to corrosion in outdoor atmospheres. This may hamper industry growth to some extent, however, rising product demand owing to increasing industrialization and construction activities will drive the structural steel market growth.

  • North America: Growing Steel consumption and increasing residential housing units
  • Europe: Growth in Residential and Non-Residential infrastructure
  • Asia Pacific: Growing infrastructure and increasing number of skyscrapers
  • Expensive fireproof treatment
  • Fatigue and Fracture in steel

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Rising heavy structural steel demand for construction purposes will foster industry size

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Heavy structural steel segment will witness significant gains over 5.5% through 2026. These are hot rolled long products with cross-section resembling the letter I, H or U. The horizontal elements of the “I” are better known as flanges, however the vertical element is called web. The web height is equal to or greater than 80 mm.

Rise in infrastructure spending on highways, bridges, buildings and public utilities will supplement the overall structural steel market value. Upsurge in smart city projects supported by government and private financing will increase product utilization.

A steel pipe is a cylindrical tube and is widely utilized in the steel industry. The primary use of steel pipes is in the transport of products including oil, gas, and water over long distances. Heavy structural steel product range includes universal beams, universal columns, parallel flange channels, universal joints, rails & equal angles.

Interarch offers Infrastructure heavy steel construction solutions that are engineered for large projects and heavy steel application to enable projects to achieve quality construction with speed and optimal cost, which is likely to drive the structural steel market outlook in the forecasted timeframe.

Growth in residential developments will foster structural steel demand

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Residential application segment is anticipated to witness significant gains over 5.5% through 2026. Growing vertical model of development to rebuild old residential apartments lying in a decrepit condition will drive product demand. Governments are likely to demolish old apartments to avoid accidents during natural calamities. Rising construction of civic amenities and new houses under urban development programs will fuel the structural steel market value.

Structural systems including beams and columns are utilized in residential buildings. Increasing residential construction globally owing to rising income levels and urbanization has led to increase in construction projects. Builders are focusing on construction material quality in order to build a strong building base. Rising product utilization in constructing residential buildings will have a positive impact on structural steel market trends.

Increasing number of skyscrapers in Asia Pacific may enhance structural steel industry size

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Asia Pacific is anticipated to witness strong gains rising over 4.5% through 2026, due to the increasing number of skyscrapers in the region. The Asia Pacific accounts for 66% of the total number of skyscrapers, which is likely to propel structural steel market size in the region.

Structural steel is extensively used in the construction of skyscraper due to its features including high strength to volume/mass ratio, time-saving operations, lightweight, less space occupancy, and the fact that it is designed for larger columns of free spaces.

A recent announcement by the Chinese government to spend on infrastructure projects including railways, the One Belt, and One Road link to Europe may stimulate the structural steel market during the forecast timeframe. Improved living standards, growing urbanization, and requirements for quality construction in the commercial & residential sectors are the major growth drivers in this region.

New product launches and mergers & acquisitions to remain key business strategies by market players

Major players involve in the structural steel industry report including ArcelorMittal S.A, Nippon Steel & Sumitomo Metal Corporation, POSCO, VISA Steel, SAIL, Baosteel Company, Tata Steel, Novolipetsk Steel, Evraz Group, Steel Limited, Nucor Corporation, and JFE Steel Corporation.

Manufacturers are involved in product launches, innovations, and partnerships, in order to expand their product portfolio and increase their regional presence. In December 2020, ArcelorMittal and Nippon Steel completed the joint acquisition of Essar Steel India Ltd., which may allow the acquiring firms to exploit the long-term structural steel market in India. Essar Steel is a manufacturer of various steel products such as structural steel plates and line pipes.

In January 2020, Hesteel acquired a 70% stake in Indian steel producer Tata Steel  to expand its international market share, primarily in Southeast Asia which has witnessed increased expenditure on construction & infrastructure projects.

By Product

  • Heavy structural Steel

    Angle [L Shaped]
    Bearing Pile [H Shaped]
    Channel [C Shaped]
     I Beam [ I Shaped]
    Tee [T Shaped]
    Pipe
    Hollow Steel Section [HSS]

    Square Hollow Section

    25*25 mm to 40*40 mm
    > 40*40mm to <70*70 mm >70*70 mm to <100*100 mm >100*100 mm to <150*150 mm >150*150 mm to <200*200 mm >200*200 mm to <400*400mm Rectangular Hollow Section  50*25 mm to 60*40 mm >60*40 mm to <100*50 mm >100*50 mm to <150 * 100 mm >150*100 mm to <200 * 150 mm >200*150 mm to <300 * 250 mm >300 * 250 mm to <450 * 250mm Circular Hollow Section 20 mm to 40 mm >40 mm to <100 mm >100 mm to <250 mm >250 mm to <350 mm >350 mm to <500 mm

  • Angle [L Shaped]
  • Bearing Pile [H Shaped]
  • Channel [C Shaped]
  • I Beam [ I Shaped]
  • Tee [T Shaped]
  • Hollow Steel Section [HSS]

    Square Hollow Section

    25*25 mm to 40*40 mm
    > 40*40mm to <70*70 mm >70*70 mm to <100*100 mm >100*100 mm to <150*150 mm >150*150 mm to <200*200 mm >200*200 mm to <400*400mm Rectangular Hollow Section  50*25 mm to 60*40 mm >60*40 mm to <100*50 mm >100*50 mm to <150 * 100 mm >150*100 mm to <200 * 150 mm >200*150 mm to <300 * 250 mm >300 * 250 mm to <450 * 250mm Circular Hollow Section 20 mm to 40 mm >40 mm to <100 mm >100 mm to <250 mm >250 mm to <350 mm >350 mm to <500 mm

  • Square Hollow Section

    25*25 mm to 40*40 mm
    > 40*40mm to <70*70 mm >70*70 mm to <100*100 mm >100*100 mm to <150*150 mm >150*150 mm to <200*200 mm >200*200 mm to <400*400mm

  • 25*25 mm to 40*40 mm
  • > 40*40mm to <70*70 mm
  • >70*70 mm to <100*100 mm
  • >100*100 mm to <150*150 mm
  • >150*150 mm to <200*200 mm
  • >200*200 mm to <400*400mm
  • Rectangular Hollow Section

     50*25 mm to 60*40 mm
    >60*40 mm to <100*50 mm >100*50 mm to <150 * 100 mm >150*100 mm to <200 * 150 mm >200*150 mm to <300 * 250 mm >300 * 250 mm to <450 * 250mm

  • 50*25 mm to 60*40 mm
  • >60*40 mm to <100*50 mm
  • >100*50 mm to <150 * 100 mm
  • >150*100 mm to <200 * 150 mm
  • >200*150 mm to <300 * 250 mm
  • >300 * 250 mm to <450 * 250mm
  • Circular Hollow Section

    20 mm to 40 mm
    >40 mm to <100 mm >100 mm to <250 mm >250 mm to <350 mm >350 mm to <500 mm

  • 20 mm to 40 mm
  • >40 mm to <100 mm
  • >100 mm to <250 mm
  • >250 mm to <350 mm
  • >350 mm to <500 mm
  • Light Structural Steel

    Angle [L Shaped]
    Bearing Pile [H Shaped]
    Channel [C Shaped]
    I Beam [ I Shaped]
    Tee [T Shaped]
    Pipe
    Hollow Steel Section [HSS]

    Square Hollow Section

    25*25 mm to 40*40 mm
    > 40*40mm to <70*70 mm >70*70 mm to <100*100 mm >100*100 mm to <150*150 mm >150*150 mm to <200*200 mm >200*200 mm to <400*400mm Rectangular Hollow Section  50*25 mm to 60*40 mm >60*40 mm to <100*50 mm >100*50 mm to <150 * 100 mm >150*100 mm to <200 * 150 mm >200*150 mm to <300 * 250 mm >300 * 250 mm to <450 * 250mm Circular Hollow Section 20 mm to 40 mm >40 mm to <100 mm >100 mm to <250 mm >250 mm to <350 mm >350 mm to <500 mm

  • Angle [L Shaped]
  • Bearing Pile [H Shaped]
  • Channel [C Shaped]
  • I Beam [ I Shaped]
  • Tee [T Shaped]
  • Hollow Steel Section [HSS]

    Square Hollow Section

    25*25 mm to 40*40 mm
    > 40*40mm to <70*70 mm >70*70 mm to <100*100 mm >100*100 mm to <150*150 mm >150*150 mm to <200*200 mm >200*200 mm to <400*400mm Rectangular Hollow Section  50*25 mm to 60*40 mm >60*40 mm to <100*50 mm >100*50 mm to <150 * 100 mm >150*100 mm to <200 * 150 mm >200*150 mm to <300 * 250 mm >300 * 250 mm to <450 * 250mm Circular Hollow Section 20 mm to 40 mm >40 mm to <100 mm >100 mm to <250 mm >250 mm to <350 mm >350 mm to <500 mm

  • Square Hollow Section

    25*25 mm to 40*40 mm
    > 40*40mm to <70*70 mm >70*70 mm to <100*100 mm >100*100 mm to <150*150 mm >150*150 mm to <200*200 mm >200*200 mm to <400*400mm

  • 25*25 mm to 40*40 mm
  • > 40*40mm to <70*70 mm
  • >70*70 mm to <100*100 mm
  • >100*100 mm to <150*150 mm
  • >150*150 mm to <200*200 mm
  • >200*200 mm to <400*400mm
  • Rectangular Hollow Section

     50*25 mm to 60*40 mm
    >60*40 mm to <100*50 mm >100*50 mm to <150 * 100 mm >150*100 mm to <200 * 150 mm >200*150 mm to <300 * 250 mm >300 * 250 mm to <450 * 250mm

  • 50*25 mm to 60*40 mm
  • >60*40 mm to <100*50 mm
  • >100*50 mm to <150 * 100 mm
  • >150*100 mm to <200 * 150 mm
  • >200*150 mm to <300 * 250 mm
  • >300 * 250 mm to <450 * 250mm
  • Circular Hollow Section

    20 mm to 40 mm
    >40 mm to <100 mm >100 mm to <250 mm >250 mm to <350 mm >350 mm to <500 mm

  • 20 mm to 40 mm
  • >40 mm to <100 mm
  • >100 mm to <250 mm
  • >250 mm to <350 mm
  • >350 mm to <500 mm

By Application

  • Residential,
  • Non Residential

    Commercial
    Institution
    Offices
    Health Buildings

  • Commercial
  • Institution
  • Health Buildings
  • Industrial

    Energy Development

    Onshore Structure
    Offshore Structure

  • Energy Development

    Onshore Structure
    Offshore Structure

  • Onshore Structure
  • Offshore Structure
  • Station & Hangers

The above information has been provided for the following regions and countries:

  • North America
  • Europe

    Germany
    UK
    France
    Italy
    Spain
    Russia
    Poland
    Sweden
    Netherlands
    Belgium
    Hungary
    Romania
    Luxembourg

  • Netherlands
  • Luxembourg
  • Asia Pacific          

    China
    India
    Japan
    South Korea
    Australia
    New Zealand
    Malaysia
    Thailand
    Vietnam
    Indonesia
    Myanmar
    Taiwan

  • South Korea
  • New Zealand
  • LATAM

    Brazil
    Argentina
    Venezuela
    Chile

  • Middle East

    Turkey
    Saudi Arabia
    UAE
    Iran

  • Saudi Arabia
  • Africa

    South Africa
    Egypt
    Algeria

  • South Africa
  • Algeria

Frequently Asked Questions (FAQ) :

ArcelorMittal S.A., Shagang Group Co., Ltd., Hesteel Group Company Limited, Nippon Steel & Sumitomo Metal Corporation, POSCO, VISA Steel,Steel Authority of India Limited, Anyang Iron & Steel Group Co., Ltd, China BaoWu Steel Group Corporation Limited, Tata Steel, China Steel Corporation, Novolipetsk Steel, Evraz Group, Hyundai Steel Co., Ltd. (HSC), SHYAM STEEL INDUSTRIES LIMITED, Shaaban Steel, Gerdua S/A JSW Steel Limited, Maanshan Iron and Steel Company, Nucor Corporation, Nanjing Iron & Steel United Co.

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