Laminated Steel Market Size To Reach $2.15 Billion By 2030

Laminated Steel Market Growth & Trends

The global laminated steel market size is anticipated to reach USD 2.15 billion by 2030 and is projected to grow at a CAGR of 4.6% during the forecast period, according to a new report by Grand View Research, Inc. Laminated steel, known for its excellent mechanical properties and corrosion resistance, is extensively used in automotive, construction, electrical, and industrial applications. The automotive industry is a significant contributor to the market growth, where the material is used to manufacture vehicle body panels, chassis, and structural components. As the automotive sector continues to expand globally, driven by the rise in vehicle production, laminated steel plays a pivotal role in meeting the need for lightweight, high-performance materials that enhance fuel efficiency and safety.

Innovations in steel processing, such as cold rolling, heat treatment, and coating technologies, have allowed laminated steel production with improved mechanical properties, such as higher tensile strength, ductility, and formability. These innovations have expanded the range of applications for laminated steel, including its use in more demanding sectors like aerospace and energy production. As manufacturers continue to refine these technologies, the production of laminated steel is becoming more cost-efficient and environmentally friendly, further encouraging market growth.

Steel laminates offer the advantage of being lightweight and recyclable, a critical factor as industries move toward more sustainable practices. In the construction industry, laminated steel is used in energy-efficient building materials, such as insulated panels and roofing systems, where it can help reduce energy consumption and minimize environmental impact. The increasing emphasis on green construction and sustainable building materials is expected to boost the demand for laminated steel further, making it a favorable material in residential and commercial construction projects.

The laminated steel industry benefits from the rise of automation and industrialization in developing economies. As countries such as India, China, and Brazil continue to industrialize and invest in infrastructure development, the demand for high-quality steel products, including laminated steel, is surging. This is particularly evident in constructing new factories, transportation systems, and power plants, where laminated steel is required for structural components, electrical equipment, and machinery. As these emerging economies strive for industrial growth and modernization, the demand for laminated steel is expected to grow proportionally, making it a key component of their industrial expansion.

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Laminated Steel Market Report Highlights

• Based on product, carbon steel dominated the market with a revenue share of 37.0% in 2024 due to its cost-effectiveness, durability, and widespread applications across industries. Its strong performance is driven by increased demand for construction, automotive, and industrial uses.

• Based on end use, electrical steel dominated the market with a revenue share of over 25.0% in 2024 due to its essential role in the manufacturing of transformers, motors, and generators. The growing demand for energy-efficient electrical devices and renewable energy systems contributed to its strong market presence.

• Asia Pacific is the dominant region for the market with a global revenue share of over 75.0% in 2024 due to rapid industrialization, a strong manufacturing base, and increasing demand from sectors like automotive and construction.

Laminated Steel Market Segmentation

Grand View Research has segmented the global laminated steel market based on product, end use, and region:

Laminated Steel Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Carbon Steel

• Low-Alloy Steel

• Electrical Steel

• Others

Laminated Steel End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automotive & Transportation

• Construction & Buildings

• Electrical & Electronics

• Food & Beverage

• Others

Laminated Steel Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • Russia

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Indonesia

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

List of Key Players in the Laminated Steel Market

• Alliance Steel

• ArcelorMittal

• China Ansteel Group Corporation Limited

• JFE Steel Corporation

• LIENCHY LAMINATED METAL CO., LTD.

• Nippon Steel Corporation

• POSCO

• Tata Steel

• thyssenkrupp AG

• United States Steel Corporation