Structural Steel Market Analysis

Structural Steel Market Analysis

These products show superior properties including high strength, ductility, ease of fabrication, seismic resistance, and fast erection speed. Structural steel finds immense applications in the non-residential construction including airports, manufacturing facilities, healthcare facilities, and retail stores. Global airport construction projects are valued above $735 billion. Increasing number of airport projects owing to growing tourism will foster the structural steel market.

Companies are investing on technological advancements and new product launches in order to improve production efficiency and provide quality product. For example, In November 2015, ArcelorMittal launched a new product, Granite Quartz. It is an organic coated steel with good scratch resistant properties for facades and roofs, providing beautiful crystalline color shades

Structural steel demands an expensive fireproof treatment and is susceptible to corrosion in outdoor atmospheres. This may hamper industry growth to some extent, however, rising product demand owing to increasing industrialization and construction activities will drive the structural steel market growth.

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Heavy structural steel segment will witness significant gains over 5.5% through 2026. These are hot rolled long products with cross-section resembling the letter I, H or U. The horizontal elements of the "I" are better known as flanges, however the vertical element is called web. The web height is equal to or greater than 80 mm.

Rise in infrastructure spending on highways, bridges, buildings and public utilities will supplement the overall structural steel market value. Upsurge in smart city projects supported by government and private financing will increase product utilization.

A steel pipe is a cylindrical tube and is widely utilized in the steel industry. The primary use of steel pipes is in the transport of products including oil, gas, and water over long distances. Heavy structural steel product range includes universal beams, universal columns, parallel flange channels, universal joints, rails & equal angles.

Interarch offers Infrastructure heavy steel construction solutions that are engineered for large projects and heavy steel application to enable projects to achieve quality construction with speed and optimal cost, which is likely to drive the structural steel market outlook in the forecasted timeframe.

Residential application segment is anticipated to witness significant gains over 5.5% through 2026. Growing vertical model of development to rebuild old residential apartments lying in a decrepit condition will drive product demand. Governments are likely to demolish old apartments to avoid accidents during natural calamities. Rising construction of civic amenities and new houses under urban development programs will fuel the structural steel market value.

Structural systems including beams and columns are utilized in residential buildings. Increasing residential construction globally owing to rising income levels and urbanization has led to increase in construction projects. Builders are focusing on construction material quality in order to build a strong building base. Rising product utilization in constructing residential buildings will have a positive impact on structural steel market trends.

Asia Pacific is anticipated to witness strong gains rising over 4.5% through 2026, due to the increasing number of skyscrapers in the region. The Asia Pacific accounts for 66% of the total number of skyscrapers, which is likely to propel structural steel market size in the region.

Structural steel is extensively used in the construction of skyscraper due to its features including high strength to volume/mass ratio, time-saving operations, lightweight, less space occupancy, and the fact that it is designed for larger columns of free spaces.

A recent announcement by the Chinese government to spend on infrastructure projects including railways, the One Belt, and One Road link to Europe may stimulate the structural steel market during the forecast timeframe. Improved living standards, growing urbanization, and requirements for quality construction in the commercial & residential sectors are the major growth drivers in this region.