Global Colour Steel Market Is Projected To Reach 34.9 Million Tons By 2025

The global Colour Steel market is projected to reach 34.9 million tons by 2025 from 23.7 million tons in 2017, registering a CAGR of 4.95% between 2017 and 2025. The major driver identified for the global coated steel market is growing demand from end-use industries such as construction, automotive, and appliances; stiff competition in the coated steel industry;  inexpensive than electro-galvanizing process; product quality and differentiation; durability of cut edges; and fluoropolymer continue to grow in the building & construction market.

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Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Colour Steel Market 2018, Forecast to 2023

The growth of the downstream industries is the key driving force for the coated steel market. For example, in the refrigerator market, the sales in the Asia-Pacific region have witnessed a steady growth in the past few years. China, Korea, Japan and India are the key production hubs of refrigerators due to huge domestic demand and low production costs. The great demand from such end-use industry has driven the market for coated steel. The increasing potential to spend on upgrades for kitchens, roofing, and basic home improvements and additions most of which include steel coated products are driving the coated steel market.

In 2017, the polyester Colour Steel segment accounted for the largest market share, in terms of value. Polyester resins form highly durable structures and coatings are cross-linked with a vinylic reactive monomer, which is most commonly styrene. The current industry trend highlights the use of polyester resin above all other resin types. In addition, it has limited use in the coatings industry primarily because curing is strongly inhibited by oxygen, leaving the surface of the polyester-coated steel soft and sticky. Due to these properties, the polyester-coated steel are the most broadly used coated steel, globally.

Colour Steel market is competitive and fragmented with a small number of large global firm, and thousands of smaller local companies, the concentration of this market is very low. Leading companies are BlueScope, Kerui Steel, NSSMC, ArcelorMittal, Dongkuk Steel, ThyssenKrupp, Baosteel, Severstal and U.S. Steel.

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