U.S. Coated Steel Industry Overview
The U.S. coated steel market size to be valued at USD 36.71 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% during the forecast period.
The growth in the construction sector is anticipated to augment the market growth over the forecast period. Coated steel is used in several applications including air conditioners, laundry appliances, vehicle parts, refrigerators, roofing, and decks to protect them against the corrosive environment. In addition, it is used for aesthetic appearance particularly required in architectural applications.
Gather more insights about the market drivers, restrains and growth of the U.S. Coated Steel market
New construction activities, especially single-family homes in the residential sector, are expected to propel the use of coated steel products over the coming years in the U.S. The COVID-19 pandemic had a major impact on product demand. However, the market witnessed a moderate recovery in the second half of 2020. For instance, in July 2020, total housing production in the U.S. increased by 22.6% from the previous month.
Moreover, the enactment of the Zero Emission Vehicle (ZEV) program has reinforced the growth of the electric vehicles (EVs) market in the U.S. Coated steel finds many applications in EVs like in battery cases. The growing production of EVs in the country is anticipated to augment the product demand over the forecast period.
The sudden outbreak of the COVID-19 pandemic was a challenge for the U.S. coated steel market. As of 2021 as well, steel prices are witnessing a surge owing to the supply deficit. For instance, the low production and high demand led the price for hot-dipped galvanized coil base price to USD 110 per cwt on September 16, 2021, which is 193.3% higher than last year.
The high prices impact the profit margins of the end-users. However, the price surge also indicates high demand for coated steel products. Growing demand from consumer goods, EVs, and residential construction are thus, anticipated to positively influence the product demand in the U.S. over the forecast period.
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U.S. Coated Steel Market Segmentation
Grand View Research has segmented the U.S. coated steel market based on product, application, and region:
- S. Coated Steel Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Galvanized
- Pre-painted
- Others
- S. Coated Steel Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Building & Construction
- Appliances
- Automotive
- Others
- S. Coated Steel Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 – 2028)
- Animal Feed
- Healthcare Products
- Functional Food & Beverages
- Medicines
- S. Coated Steel Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- S.
- Northeast
- Midwest
- South
- West
- S.
Key Companies profiled:
Some prominent players in the global U.S. Coated Steel market include
- ArcelorMittal
- Cleveland-Cliffs Inc.
- Nippon Steel Corporation
- NLMK
- Nucor
- Salzgitter AG
- Steel Dynamics, Inc.
- United States Corporation
- voestalpine AG
Order a free sample PDF of the U.S. Coated Steel Market Intelligence Study, published by Grand View Research.
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