United States Coated Steel Market Size, Share, and COVID-19 Impact Analysis, By Product (Pre-painted, Galvanized), By Application (Building & Construction, Automotive, Appliances), and United States Coated Steel Market Insights Forecasts 2023 – 2033

Industry: Advanced Materials

RELEASE DATE Jan 2024
REPORT ID SI3400
PAGES 200
REPORT FORMAT PathSoft

United States Coated Steel Market Insights Forecasts to 2033      

  • The United States Coated Steel Market Size was valued at USD 23.71 Billion in 2023
  • The Market Size is Growing at a CAGR of 3.94% from 2023 to 2033.
  • The United States Coated Steel Market Size is Expected to Reach USD 34.88 Billion by 2033.

 

United States Coated Steel Market

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The United States Coated Steel Market Size is Expected to Reach USD 34.88 Billion by 2033, at a CAGR of 3.94% during the forecast period 2023 to 2033.

 

Market Overview

The coating is the application of a decorative and protective organic coating to a steel substrate supplied in coil form. Coated steel is also known as pre-painted steel. Color coatings are paint coatings and specialty products used to protect steel from corrosion under a wide range of corrosive conditions, from atmospheric exposure to full immersion in highly corrosive solutions. A color coating adds little strength to the substrate steel but protects it so that its strength and integrity are preserved. Steel coating is a continuous and highly automated industrial process that coats steel coils efficiently. The substrate steel receives a protective and decorative coating during the application of color coating. This color-coating process is also known as duplex coating. The coating is commonly defined as the automatic, continuous application of a liquid paint coat over a pre-treated substrate. Pre-painted color-coated steel is a high-value-added product that combines the best properties of the substrate and the organic coating while also providing an aesthetic finish, high durability, and high corrosion resistance. The growing demand for coated steel in the building and construction industries in the United States, as well as the growing construction industry in the country, is driving market growth.

 

Report Coverage

This research report categorizes the market for the United States coated steel market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States coated steel market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the United States coated steel market.

 

United States Coated Steel Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 23.71 Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:3.94%
2033 Value Projection:USD 34.88 Billion
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Product, By Application and COVID-19 Impact Analysis.
Companies Covered:ArcelorMittal, Cleveland-Cliffs Inc., Nippon Steel Corporation, NLMK, Nucor, Salzgitter AG, Steel Dynamics, Inc., United States Corporation, voestalpine AG and Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

As the population grows and end-use industries expand, demand for coated steel in consumer products and electrical appliances is expected to rise during the forecast period. Furthermore, rising demand for lightweight materials in industries such as automotive and aerospace is opening up enormous market development opportunities. The increase in vehicle production is directly proportional to a rise in market demand for automotive parts such as coated steel. As such, growing demand for vehicle production is projected to boost demand for coated steel, as it has become a standard in all types of vehicles in the United States market, which is expected to drive the growth of the coated steel market.

 

Restraining Factors

Certain barriers hinder the growth of the coated steel market in the United States. Variations in coated steel prices are expected to stifle growth during the forecast period. Furthermore, a supply-demand imbalance is expected to limit market growth even further.

 

Market Segment

  • In 2023, the galvanized segment accounted for the largest revenue share over the forecast period.

Based on the product, the United States coated steel market is segmented into the pre-painted and galvanized. Among these, the galvanized segment has the largest revenue share over the forecast period. Metal roofs have several advantages, including fire resistance, ease of installation, low heat conduction, and lightweight. These factors are driving demand for metal roofs in the United States and are anticipated to have a positive impact on galvanized steel consumption during the forecast period. Galvanizing is a zinc coating applied to steel sheets through a process known as "continuous hot-dip," in which the steel sheet is immersed in a bath of molten zinc. Since the zinc coating does not flake or peel off during the metal spinning process, the steel sheet can then be spun into a finished part. Galvanized spinning is the most cost-effective way to protect steel from corrosion as the finished part resists corrosion without any additional or secondary painting or coating.

 

  • The building & construction segment is witnessing significant CAGR growth over the forecast period.

Based on application, the United States coated steel market is segmented into building & construction, automotive, and appliances. Among these, the building & construction segment is witnessing significant CAGR growth over the forecast period. Steel rusts easily, which eventually leads to corrosion. Coated steel is therefore used in the construction industry for piping, support beams, and air conditioning ducts. Pipes and tubes, as well as long products such as bars, rails, rods, and beams, are widely used in the construction industry. Growing urbanization is driving the expansion of building and construction applications. Roofing, facades and sidings, decking, and other applications are all part of the building and construction application segment.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States coated steel market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • ArcelorMittal
  • Cleveland-Cliffs Inc.
  • Nippon Steel Corporation
  • NLMK
  • Nucor
  • Salzgitter AG
  • Steel Dynamics, Inc.
  • United States Corporation
  • voestalpine AG
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • In March 2022, The Cleveland-Cliffs Inc. and the NBA Cleveland Cavaliers extended their multi-year marketing partnership to include the Cliffs logo on Cavs player uniforms beginning in 2022-23.

 

  • In June 2022, Nippon Steel Corporation introduced ZEXEED, a high corrosion-resistant coated steel. ZEXEED is a corrosion-resistant coated steel sheet that outperforms post-plating, which is widely used in the civil engineering and social infrastructure sectors.

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the United States Coated Steel Market based on the below-mentioned segments:

 

United States Coated Steel Market, By Product

  • Pre-painted
  • Galvanized

 

United States Coated Steel Market, By Application

  • Building & Construction
  • Automotive
  • Appliances

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