Kenneth Research recently added a report on the Global Coated Steel Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.

In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.

The global Coated Steelmarket was valued at USD 21.67billion in 2016 and is projected to reach USD 33.91billionby 2025, growing at a CAGR of 5.10% from 2017 to 2025.
Coated steels demand is driven by its growing application in infrastructure. The shift from galvanized corrugated and other roofing solutions is driving demand for these products. The high shelf life offered by these products is driving demand for coated steels.

Sample Infographics:

Market Dynamics:
1. Market Drivers
1.1 Rising application of fluoropolymer in construction industry
1.2 Growing construction industry in developing countries
2. Market Restraints
2.1 Application challenges in transportation
2.2 Cost reduction in order to maintain quality

Market Segmentation:
The global Coated Steelmarket is segmented on the resintype, application, and region.
1. By Resin Type:
1.1 Siliconized Polyester
1.2 Polyester
1.3 Fluoropolymer
1.4 Plastisol
1.5 Others

2. By Application:
2.1 Automotive
2.2 Appliances
2.3 Building and Construction
2.4 Others

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3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Arcelormittal
2. Jindal Steel and Power
3. SSAB AB
4. LysvenskiiMetallurgicheskiiZavod ZAO
5. Salzgitter AG
6. Tata Steel
7. OJSC Novolipetsk Steel
8. Essar Steel Ltd.
9. Voestalpine AG
10. United States Steel
11. OJSC Magnitogorsk Iron and Steel Works
12. Nippon Steel and Sumitomo Metal Corporation
13. ThyssenKrupp AG

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Coated Steel Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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