U.S. Hot Rolled Coil Steel Market Size, Share & Trends Analysis Report By Thickness (Less Than Or Equal To 3mm, Greater Than 3mm), By End Use (Construction & Infrastructure, Oil & Gas, Automotive, Industrial Equipment), By Region, And Segment Forecasts, 2025 - 2030

U.S. Hot Rolled Coil Steel Market Trends

The U.S. hot rolled coil steel market was valued at USD 27.68 billion in 2024 and is expected to grow at a CAGR of 5.2% from 2025 to 2030. Growth is primarily driven by strong demand across key sectors such as construction, automotive, energy, and heavy machinery. Federal infrastructure programs significantly boost steel consumption, particularly for large-scale public works projects, including highways, bridges, and transit systems.

Due to ongoing investments in pipeline and drilling infrastructure, the oil and gas sector continues to be a major consumer of Hot Rolled Coil (HRC) steel. The revival of domestic manufacturing and reshoring efforts further support market expansion and strengthen the domestic industrial base. In addition, a recent federal move to raise tariffs on steel imports is helping reduce reliance on foreign steel, thereby enhancing the competitiveness of U.S.-made HRC and supporting local production. This shift in policy is expected to improve supply chain resilience and create a more favorable environment for domestic producers in the U.S. hot rolled coil steel industry. Advancements in steelmaking technology, such as Electric Arc Furnace (EAF) systems, digital automation, and low-emission manufacturing practices, are essential for modernizing the U.S. hot-rolled coil steel industry. These innovations improve efficiency and product quality while supporting national decarbonization goals, positioning the market for sustainable and resilient long-term growth.

Market Concentration & Characteristics

The industry growth stage is medium, and the pace of growth is accelerating. The U.S. market is moderately concentrated, with a few major players holding significant production capacity. Industry leaders like Nucor Corporation, Cleveland-Cliffs Inc., U.S. Steel, and Steel Dynamics Inc. dominate in terms of domestic output.

The U.S. hot rolled coil steel industry demonstrates a moderately high level of innovation, driven by investments in next-generation steelmaking technologies, low-carbon processes, and advanced product development. Key innovations include the adoption of EAF technology over traditional blast furnaces for greater energy efficiency and lower carbon emissions and the development of Advanced High-strength Steels (AHSS) to meet the evolving demands of industries such as automotive, energy, and infrastructure.

The U.S. hot rolled coil steel industry has experienced a moderate to high level of Mergers and Acquisitions (M&A) in recent years. These activities are largely driven by the need for vertical integration, securing raw material supplies, capacity optimization, and strengthening market position. Major steel producers are actively acquiring smaller or international players to expand their geographic footprint, gain access to advanced production capabilities, and bolster their downstream value chains, particularly in flat-rolled and hot-rolled coil segments.

Regulatory frameworks in the U.S. play a crucial and multifaceted role in shaping the hot rolled coil steel market dynamics. Federal mandates such as emissions standards from the Environmental Protection Agency (EPA), Buy America and Build America provisions, and Section 232 tariffs on imported steel collectively foster a protective and growth-oriented environment for domestic producers. These policies support fair trade, promote local manufacturing, and drive compliance with environmental targets and sustainable practices. In 2023, the U.S. EPA proposed amendments to the National Emission Standards for Hazardous Air Pollutants (NESHAP) for integrated iron and steel manufacturing facilities. These proposed changes aimed to limit emissions of Hazardous Air Pollutants (HAPs) from these sources, which were previously unregulated, including mercury, hydrochloric acid, hydrofluoric acid, carbon disulfide, carbonyl sulfide, dioxins/furans, and polycyclic aromatic hydrocarbons.

Thickness Insights

The greater than 3 mm thickness segment accounted for the largest revenue share of 65.8% in 2024. This dominance is largely due to its broad applications in heavy-duty structural components, industrial equipment, and infrastructure projects requiring higher load-bearing capacity and rigidity. The segment growth is driven by robust demand in sectors like heavy machinery, construction, shipbuilding, and oil & gas, where thicker-gauge HRC provides the required strength and durability. In addition, long-term infrastructure investment and industrial development initiatives across the U.S. have helped sustain this segment’s strong position.

The less than or equal to 3mm thickness segment is expected to grow at the fastest CAGR of 5.3% during the forecast period. Growth is driven by surging demand for lightweight, formable, and cost-efficient steel in the automotive, construction, and appliance sectors. In particular, the push toward vehicle lightweighting, especially in the fast-growing electric vehicle (EV) segment, has led automakers and Tier 1 suppliers to increasingly favor thin-gauge HRC for components such as body panels and battery enclosures. Electric car sales in the U.S. increased to 1.6 million in 2024, driving higher demand for lightweight materials such as thin-gauge HRC steel essential for EV body structures and battery enclosures. Likewise, modular construction projects and prefabricated building systems have accelerated the adoption of less than or equal to 3 mm HRC steel due to its ease of transport and assembly. This type of steel is used to produce Electric Resistance Welded (ERW) pipes, which have extensive application in construction scaffolding, irrigation systems, and light structural frameworks. The material is also used in manufacturing steel drums and barrels for industrial packaging in the U.S.

End Use Insights

The construction and infrastructure segment dominated the U.S. market in 2024, driven by rapid urbanization, increased demand for residential and commercial buildings, and expansive infrastructure projects such as bridges, highways, and railways. The construction industry's heavy reliance on HRC steel for structural components, beams, and reinforcements solidifies its position as the country's leading consumer of HRC steel. A key driver includes the Inflation Reduction Act (IRA), which encompasses substantial investments in clean energy infrastructure, energy-efficient buildings, and public infrastructure modernization, fueling demand for high-quality HRC steel used in structural frameworks and building reinforcements. These developments continue to strengthen the U.S. hot rolled coil steel industry, positioning it to meet the evolving needs of the nation's construction sector.

The oil & gas/energy segment is expected to grow at the fastest CAGR over the forecast period. Substantial federal investments drive the modernization and upgradation of the nation’s energy infrastructure under the Infrastructure Investment and Jobs Act (IIJA). The legislation allocates significant funding for critical projects, including pipeline safety enhancements, the expansion and modernization of natural gas infrastructure, and improvements in energy storage capabilities. These initiatives are essential for increasing energy reliability, reducing environmental risks, and supporting the transition toward cleaner energy sources. As a result, demand for durable and high-strength HRC steel used in pipelines, storage tanks, drilling platforms, and other energy infrastructure components continues to rise, reinforcing the sector’s importance within the U.S. steel market.

Key U.S. Hot Rolled Coil Steel Company Insights

Some of the key players operating in the U.S. hot rolled coil steel industry include Nucor Corp, Cleveland-Cliffs Inc., and United States Steel Corporation (U.S. Steel):

• Nucor Corporation is one of the largest steel producers in the U.S. and a leading player in the domestic HRC market. The company operates numerous EAF mills and focuses on sustainable steelmaking.

• United States Steel Corporation (U.S. Steel), headquartered in Pittsburgh, remains among the oldest and most recognized names in the U.S. steel industry. The company has focused on modernizing its production capabilities with strategic investments in EAF technology and sustainability initiatives.

Recent Developments

• In November 2024, Cleveland-Cliffs Inc. completed the acquisition of Canadian flat-rolled steel producer Stelco Holdings Inc. This strategic move enhances Cleveland-Cliffs' position as the largest flat-rolled steel producer in North America, diversifies its end markets, and expands its geographical presence in Canada.

• In April 2024, Nucor Corporation introduced a weekly Consumer Spot Price (CSP) to provide customers with consistent and transparent communications regarding the company's hot-rolled coil spot pricing. The first CSP was issued on April 8, 2024, marking a significant shift in Nucor's pricing strategy.

• In January 2022, U.S. Steel announced major capacity upgrades at its Big River Steel facility in Arkansas. The expansion, known as Big River Steel 2, added 3 million tons per year of capacity, creating a 6.3-million-ton-per-year “mega mill.” This development aligns with U.S. Steel's strategy to modernize its production capabilities with strategic investments in EAF technology and sustainability initiatives.

U.S Hot Rolled Coil Steel Market Report Scope

U.S. Hot Rolled Coil Steel Market Segmentation

This report forecasts volume & revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. hot rolled coil steel market report based on thickness, end-use, and region:

• Thickness Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Less than or equal to 3mm

  • Greater than 3mm

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Construction & Infrastructure

  • Oil & Gas / Energy

  • Automotive

  • Industrial Equipment

  • Shipbuilding & Marine

  • Others