Flat Steel Market To Reach $897.4 Billion By 2030 | CAGR: 5.3%

January 2025 | Report Format: Electronic (PDF)

Flat Steel Market Growth & Trends

The global flat steel market size is expected to reach USD 897.4 billion by 2030, registering a CAGR of 5.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. Plates, and sheets & coils are of vital importance in the world with their rising emphasis in the building & construction industry.

Based on product, the market is segmented into plates, and sheets & coils, of which plates are extensively used in the infrastructure sector for constructing buildings. Sheets & coils are manufactured by hot or cold rolling of steel slabs to produce thin, flat sheets and coils. With their high tensile strength, durability, and formability, sheets & coils are versatile materials used across diverse industries for their exceptional structural and functional properties.

Based on region, Asia Pacific stands out as a prominent market, with China serving as a key driver being both the largest producer and consumer of flat products in the region. Noteworthy markets in the Asia Pacific comprise Japan, South Korea, India, and Southeast Asian nations such as Indonesia, Vietnam, and Thailand. However, the region has encountered many challenges, including a surplus of raw materials worldwide, intense competition from other steel-producing economies, the economic repercussions of the COVID-19 pandemic, and the Russia-Ukraine war on regional economies.

The industry is expected to experience positive growth through the implementation of diverse strategies, including the introduction of new products and expansions in production capacities by key players. A recent instance is ArcelorMittal's introduction of a state-of-the-art blast oxygen furnace LD converter, having a substantial capacity of 125 tons, in Bosnia in February 2023. Supplied by Primetals Technologies, this strategic investment aims to enhance the efficiency of steel production and processing, focusing on the manufacturing of ingots, blooms, billets, and bars.

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Flat Steel Market Report Highlights

Based on product, the plates segment dominated the market by capturing the largest share of 63.5% in 2024, propelled by their widespread use in heavy industries such as construction, shipbuilding, and energy.
Based on end-use, the building and construction segment captured the largest revenue share of 78.9% in 2024, owing to its widespread use in structural applications such as bridges, buildings, and infrastructure projects.
Based on region, Asia Pacific flat steel market secured the largest market share of 61% in 2024, attributed to the region’s robust industrial base, rapid economic growth, and surging demand from various sectors.
North America flat steel market is anticipated to emerge as the fastest growing region and expand at a CAGR of 4.5% over the forecast period, driven by strong demand from key industries such as automotive, construction, and manufacturing.

Flat Steel Market Segmentation

Grand View Research has segmented the global flat steel market on the basis of on product, end-use, and region:

Flat Steel Product Outlook (Revenue, Kilotons, USD Million, 2018 - 2030)

Sheets & Coils
Plates

Flat Steel End-use Outlook (Revenue, Kilotons, USD Million, 2018 - 2030)

Building & Construction
Automotive & Aerospace
Railways & Highway
Others

Flat Steel Regional Outlook (Revenue, Kilotons, USD Million, 2018 - 2030)

North America
- U.S.
- Mexico
- Canada
Europe
- Germany
- France
- Italy
- Russia
Asia Pacific
- China
- India
- Japan
- Indonesia
- Philippines
- Singapore
- Thailand
- Malaysia
Central and South America
- Brazil
Middle East
- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- UAE
Africa
- Ethiopia
- Tanzania
- Mozambique
- Rwanda
- Zimbabwe
- Kenya