Asia Pacific (APAC) Structural Steel Market (2020-2026) | COVID-19 IMPACT, Trends, Outlook, Value, Analysis, Revenue, Growth, Share, Size, Industry, Forecast & Companies

Asia Pacific structural steel market is growing at a faster pace due to its rapid industrial growth, advancement in technology, growing population and urbanization with increasing residential housing units, increase in the number of skyscrapers, and an upsurge in residential and non-residential infrastructure, increase in the government and construction companies spending on construction and infrastructural projects are the key factors expected to swell the demand and anticipated to propel consumption of structural steel in the commercial sector which in turn drive the growth of Asia pacific structural steel market. Corrosion fear, expensive fireproof treatment and fatigue and fracture in steel and most importantly the trade war between the U.S. and China especially on steel and aluminium, resulted in increased consumer prices and slow downed investment, are expected to be some of the restraints that could inhibit the growth of the global market scenario. However, the current COVID 19 pandemic has brought the manufacturing companies to a standstill and this sector has been worst hit with the current pandemic situation as manufacturers of non-essential goods had to shut down their manufacturing facilities in compliance with the government norms for lockdown, which by directly affecting the production and demand, creating supply chain and market disruption, and especially impacting firms and financial markets financially and even some construction companies are facing problems bringing their workers and their operations back to normal due to lockdown.

According to 6Wresearch, the Asia Pacific (APAC) Structural Steel Market size is anticipated to register growth during 2020-26. Geographically, at the present Asia Pacific has registered the highest market share in the structural steel market, is looking in a pretty dominant position particularly in India and China, and is also expected to have a lucrative run in the global market in the coming years. This is mainly because of the several initiatives taken by the government to improve not only the housing situation but also undertaking several infrastructural projects, whether it may be India’s Pradhan Mantri Awas Yojana housing scheme, Railways expansion, or China’s One Belt One Road initiative. Other than that, this region is driven by rapid industrial growth coupled with technological advancements in the construction industry and China to be pushing the construction industry more due to its high growth in GDP and exponential growth of the residential & housing sector in this region is propelling the demand for the structural steel market. We have seen ArcelorMittal and Nippon Steel completing the joint acquisition of Essar Steel India Ltd, which would allow the acquiring firms to exploit the long-term structural steel market in India and that we have Hesteel acquiring almost 70% stake in Indian steel producer Tata Steel to expand its international market share, primarily in Southeast Asia which has witnessed increased expenditure on construction & infrastructure projects. These advancements and acclimatizing to the new normal COVID 19 scenario would give a boost to the structural steel market in this region.

The Asia-Pacific structural steel market is estimated to witness opportunities in construction, infrastructure, shipping, real estate, energy, industrial, and commercial sectors, which are segmented into Heavy structural steel, Light structural steel, Rebar. With Structural steel extensively used in the construction of skyscraper due to its features as having 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, will be in high demand with an increase in the number of skyscrapers and many other infrastructural projects in this region. Some major players involved in the structural steel industry include Nippon Steel & Sumitomo Metal Corporation, HBIS Group, China Steel company, JSW Steel, Shandong Iron & Steel Group, Tata Steel (TISCO), Wuhan Iron and Steel, Hyundai Steel, and Essar Steel.

The Asia-Pacific Structural Steel market report thoroughly covers the market by Product type, Applications, and countries such as India, China, Japan, South Korea and the rest of Asia Pacific. The structural steel market outlook report provides an unbiased and detailed analysis of the on-going Asia-Pacific structural steel market trends, opportunities/high growth areas, and market drivers which might help the stakeholders to plan and align their market strategies consistent with the present and future market dynamics.

Key Highlights

• Asia Pacific Structural Steel Market Outlook
• Asia Pacific Structural Steel Market Overview
• Asia Pacific Structural Steel Market Forecast
• Historical Data for the period 2016-2019 and Market Forecast of Asia Pacific Structural Steel Market Revenues until 2026
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Type
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Application
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Countries
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for India Structural Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Japan Structural Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for China Structural Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for South Korea Structural Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for rest of Asia Pacific Structural Steel Market
• Market Drivers and Restraints
• Asia Pacific Structural Steel Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Asia Pacific Structural Steel Market Share, By Players
• Competitive Benchmarking

Markets Covered

The report provides a detailed analysis of the following market segments:

• By Type:
• Heavy Sectional Steel
• Light Sectional Steel
• Rebar
• By Application:
• Residential
• Non-residential
• By Countries:
• India
• Japan
• China
• South Korea
• Rest of Asia Pacific

Frequently Asked Questions About the Market Study (FAQs):