Coated Steel market trends
The coated steel market has been segmented based on type, coating type, end-use industry, and region. By type, the global market has been divided into color-coated steel and metallic-coated steel. The color-coated steel segment accounted for the largest market share and is expected to register the highest CAGR during the forecast period. The demand is attributed to its increasing demand in the construction industry for both exterior and interior applications.
Based on coating type, the global market has been divided into polyester, polyvinylidene fluoride, epoxy, polyvinyl chloride, polyurethane, pure aluminum, aluminum-zinc, pure zinc, and others. The polyester segment is further sub-divided into regular modified polyester, silicone modified polyester, and super durable polyester. The polyester segment accounted for the largest market share in the coated steel market in terms of tonnage and value due to its excellent resistance to different weather conditions and has smooth surface finishing.
Based on end-use industry, the global market has been segregated into building and construction, automotive, industrial machinery, electrical and electronics, consumer goods, and others. The building and construction industry accounted for the largest market share in terms of tonnage and value. The latter is followed by the automotive segment in 2017. The increasing demand for color-coated steel in applications such as roofing, cladding, and other applications in residential and commercial construction is expected to drive the market.
The global coated steel market has been classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific is expected to account for the largest share of the coated steel on account of the growing end-use industries in the region, especially the construction, automotive and electrical appliances.
North America and Europe are expected to be the prominent markets for coated steel due to the increasing demand in the automotive, and construction. The regional markets are expected to maintain close demands during the forecast period.
The Latin American and the Middle East & African markets are likely to register healthy growth during the review period as a result of the growing end-use industries in the regions.
Some of the key players operating in the global coated steel market are JSW (India), ArcelorMittal (Luxembourg), SSAB (Sweden), POSCO (South Korea), JFE Steel Corporation (Japan), NLMK (Russia), NIPPON STEEL & SUMITOMO METAL CORPORATION (Japan), Essar (India), Tata Steel (India), thyssenkrupp AG (Germany), Salzgitter Flachstahl GmbH (Germany), and Uttam Galva Steels Limited (India).