Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Laminated Steel Market Size is Expected to Grow from USD 1.56 Billion in 2023 to USD 2.37 Billion by 2033, at a CAGR of 4.27% during the forecast period 2023-2033.
The global laminated steel market refers to the industry that produces, sells, and distributes laminated steel, a kind of composite material where a thin layer of steel is joined with additional components such as adhesives, coatings, or polymer films. Applications in packaging, automotive, electronics, construction, and home appliances are made available by this lamination, which improves attributes like durability, corrosion resistance, and beauty. Key driving factors for the growth of the laminated steel market include the increasing demand for materials that are corrosion-resistant and lightweight, particularly in the construction, automotive, and packaging industries. Laminated steel is a popular option for producers who want to improve product performance while lowering maintenance costs because of its exceptional strength, durability, and aesthetic appeal. Additionally, because laminated steel is an environmentally beneficial substitute for plastic-based materials, its use in food and beverage packaging has expanded as a result of growing environmental concerns and a demand for sustainable packaging solutions. However, the high production cost due to the lamination technique, which requires specific materials, is a barrier to market growth.
The carbon steel segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of product, the global laminated steel market is divided into carbon steel, low-alloy steel, electrical steel, and others. Among these, the carbon steel segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is attributed to its exceptional tensile strength, adaptability, and affordability, which make it indispensable in heavy machinery, automotive, and construction. The need for structural steel goods is further increased by the rate of urbanization.
The automotive & transportation segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of end user, the global laminated steel market is divided into automotive & transportation, construction & buildings, electrical & electronics, food & beverage, and others. Among these, the automotive & transportation segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The growth can be attributed to the industry places considerable emphasis on safety improvements, lightweight materials, and fuel efficiency. The need for high-performance laminated steel in vehicle constructions that reduce weight while sacrificing strength has been created by the development of EVs and advanced manufacturing.
North America is anticipated to hold the largest share of the global laminated steel market over the predicted timeframe.
North America is anticipated to hold the largest share of the global laminated steel market over the predicted timeframe. The regional growth can be attributed growing due to its strong automotive industry, which produces millions of vehicles annually from manufacturers in the US, Canada, and Mexico. The market growth is driven by government rules encouraging lightweight materials and fuel economy, as well as the growth of EVs.
Asia Pacific is expected to grow at the fastest CAGR in the global laminated steel market during the forecast period. The regional growth can be attributed to substantial investments in infrastructure in China, India, and other countries. The growing need is increased by government programs that propel the construction of high-rise buildings, bridges, and transit networks. Another growth is further accelerated by increased disposable incomes, industrial expansion, and rapid urbanization. Furthermore, a local major player in the steel market thriving manufacturing sector, and technological improvements across the region.
Company profiling
Major vendors in the global laminated steel market are Alliance Steel, ArcelorMittal, China Ansteel Group Corporation Limited, JFE Steel Corporation, LIENCHY LAMINATED METAL CO., LTD., Nippon Steel Corporation, POSCO, Tata Steel, thyssenkrupp AG, United States Steel Corporation, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global laminated steel market based on the below-mentioned segments:
Global Laminated Steel Market, By Product
Global Laminated Steel Market, By
Global Laminated Steel Market, Regional
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