Market Size of Coated Steel Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 303.93 Million tons |
| Market Volume (2029) | 365.89 Million tons |
| CAGR (2024 - 2029) | 3.78 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Coated Steel Market Analysis
The Coated Steel Market size is estimated at 303.93 Million tons in 2024, and is expected to reach 365.89 Million tons by 2029, growing at a CAGR of 3.78% during the forecast period (2024-2029).
COVID-19 had a negative impact on the global economy in 2020 and H1-2021. It affected several industrial sectors, such as coated steel, hindering their supply chain. The lockdown and shutdown changed the behavior of retail businesses, international supply chains, and purchases across various sectors. However, the market is projected to grow steadily due to increased automotive and construction activities after lifting restrictions in the second half of 2021, gradually leading to market recovery.
- Over the short term, the growing demand from the electrical and domestic appliance industry and expanding construction industry are expected to drive the growth of the market studied.
- High price volatility of raw materials is expected to restrain the growth of the global coated steel market over the forecast period.
- Nevertheless, the use of protected steel in anti-corrosion applications is likely to create lucrative growth opportunities for the global market.
- The Asia-Pacific region is expected to dominate the coated steel market over the forecast period.
