Profiled Steel Sheet Decking Market - By Product (Galvanized Steel [Double Side Primer Coated, Pre-Coated Underside], Cold Rolled Steel), By Application (Decking, Flooring), By End-use (Residential, Commercial, Industrial) & Forecast, 2023-2032

Profiled Steel Sheet Decking Market Size

Profiled Steel Sheet Decking Market size crossed USD 5.5 Billion in 2022 and is expected to register over 10 % CAGR from 2023 to 2032 owing to the surging product use in the expanding construction industry.
 

The global construction sector is proliferating, particularly in the Asian region, which is the primary driver for the growing product demand. Recent tech innovations and the development of new design methodologies have prompted the modification of traditional building processes to reduce construction project duration and lower construction costs in addition to competition from several manufacturers. The construction industry has witnessed an upsurge in the use of composite slabs with profiled steel decking due to their simpler, faster, lighter, and more cost-effective features in steel-framed building systems.
 

Fluctuating raw material prices may hinder the profiled steel sheet decking market revenue share

Instability in steel prices brought on by major geopolitical events affects raw material pricing, subsequently impacting product consumption. Similarly, the COVID-19 pandemic, the conflict in Ukraine, and possible recessions that many nations are presently experiencing are all contributing to the volatility of prices in the steel industry, which is likely to restrain the business expansion. To address this constraint, manufacturers are trying to develop innovative manufacturing techniques that can reduce production costs and lower the end product price.
 

Profiled Steel Sheet Decking Market Analysis

The galvanized steel segment of the profiled steel sheet decking market is projected to record 10% growth rate during 2023 to 2032 owing to product benefits, including lighter weight, durability, and easy installation. Moreover, the widespread use of galvanized steel sheets for roofing and flooring in agricultural, industrial, commercial, and residential structures, such as warehouses, barns, and garages, is primed to support segment value.
  

With regard to application, the decking segment is anticipated to exceed USD 10 billion by 2032. Profiled steel sheet decking offers advantages such as simple and more affordable construction in steel frames in building systems, which is forecast to accelerate product demand. Additionally, the use of a steel deck also reduces concrete thickness and reinforcing expenses. As opposed to traditional shuttering, its quick installation offers an obstruction-free construction site and enables the simultaneous conduct of other tasks, and aids in project time management, thereby propelling product uptake.
 

The industrial segment of the profiled steel sheet decking market is poised to depict gains at nearly 10.5% between 2023 and 2032. As firms are setting their CO2 reduction objectives, the demand for environmentally friendly steel sheets has increased, allowing them to cut scope 3 emissions while making their product offerings more sustainable. Composite profiled steel sheet decking provides sustainability benefits throughout a building's lifecycle, from production and transportation to on-site operations, which benefits the overall design by using fewer materials and ensuring that buildings meet operational performance. This move toward sustainable development of industrial buildings complementthe segment deployment.
 

Asia Pacific profiled steel sheet decking market is predicted to surpass USD 7 billion by 2032. The flourishing Indian construction sector and massive government investments in the modernization of infrastructure in the country, are foreseen to facilitate regional market growth. Recently, in the Union Budget 2023, the government of India announced its aim to raise total capital expenditure on the construction sector by 7.5% from a speculated spending of above USD 522 billion in 2023 to generate more than USD 561 billion by 2024.
 

Profiled Steel Sheet Decking Market Share

Some of the major companies engaged in the profiled steel sheet decking market are

• Vulcraft Group
• Kingspan Group
• TATA Steel
• Canam Group Inc.
• D-MAC Industries, Inc.
• Marlyn Steel Decks, Inc.
• Nippon Steel Corporation
• Emirates Building System

These firms primarily engage in strategic plans such as collaborations, acquisitions, and service portfolio expansions to enhance their industry standing.
 

To cite an instance, in September 2022, Kingspan Group, a building materials company, acquired Ondura, a provider of waterproofing solutions, to expand its footing in the roofing and waterproofing industry as part of its long-stated ambition to establish a large range of roofing solutions, presenting significant growth opportunities for both companies.
 

Impact of COVID-19 pandemic

The construction sector experienced severe setbacks as a result of labor shortages and supply chain disruptions induced by the COVID-19 pandemic. However, the increasing burden on the healthcare sector paved the way for new construction projects to support the infrastructure in developing nations. For example, healthcare shortfalls in India necessitated the creation of hospitals and quarantine facilities at rapid speeds. Although a temporary trend, it reintroduced the use of prefabricated materials and modular building techniques into mainstream design, thereby boosting product demand.
 

This profiled steel sheet decking market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons, Million Square Meters, and revenue in USD Million from 2018 to 2032 for the following segments:

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By Product

• Galvanized Steel
  • Double Side Primer Coated
  • Pre-Coated Underside
• Cold Rolled Steel

By Application

• Decking
• Flooring

By Grade

• Residential
• Commercial
• Industrial

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  •  Austria
  • Switzerland
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • South Africa
  • Saudi Arabia