The structural steel market involves steel components such as beams, columns, plates, trusses, and fasteners that are used as primary load-bearing structural elements in interior and exterior applications. Steel is very strong and flexible in construction and provides versatility and economy of construction in buildings, bridges, shipbuilding, transportation infrastructure such as railways and pipelines.

The global structural steel market is estimated to be valued at US$ 94.93 Bn  in 2024 and is expected to exhibit a CAGR of 9.6%  over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the structural steel market are Johnson & Johnson, Bayer AG, GlaxoSmithKline Plc, Baby Foot, Sanofi S.A., Grace & Stella Co., PediFix Inc., Alba Botanica, Tony Moly Co. Ltd., Aveeno, Bio-Oil, Dr Teal€TMs, Bath & Body Works, The Body Shop, Nivea, O'keeffe's, L'Occitane, La Roche-Posay, CeraVe, Eucerin. The demand for structural steel is growing significantly owing to rapid urbanization and rising infrastructural development across developed and developing regions. Technological advancements in manufacturing processes have made structural steel more durable and cost-effective.

Market Trends
The Structural Steel Market Demand is witnessing increased adoption of advanced high-strength steel that provides greater strength and enables reduced weight and material usage. Steel structures made of advanced high-strength steel last longer and require less maintenance over time. Additionally, pre-engineered building systems using structural steel are gaining popularity due to advantages such as speed, efficiency, and cost-effectiveness in construction.

Market Opportunities
Rising expenditures on transportation and building infrastructure globally present significant growth opportunities. Furthermore, stringent government regulations regarding green buildings and sustainability are fueling demand for structural steel that provides recyclability and reduced environmental impact compared to other materials. Rapid industrialization and growth of manufacturing sectors in emerging economies will further augment the structural steel market revenue during the forecast period.

Impact of COVID-19 on Structural Steel Market Growth
The COVID-19 pandemic adversely impacted the structural steel market globally. The disruption in the supply chain due to nationwide lockdowns imposed severe restrictions on transport and manufacturing activities. This led to issues such as non-availability of raw materials, shortage of labor, and delays in project timelines. For instance, in 2020, major steel producing countries like China, India, and the US witnessed a decline in steel production and steel prices due to reduced demand from end-use industries. However, with governments gradually lifting restrictions and restarting economic activities, the structural steel market is projected to recover post-pandemic. Upsurge in infrastructure development and construction spending is likely to boost demand. Meanwhile, greenfield projects in developed markets and growing construction sector in developing economies will support market growth going ahead. Future strategies for market players should focus on digital transformation, developing smart and sustainable structural steel solutions, and optimizing supply chain resilience.

Concentration of Structural Steel Market in North America by Value
By value, North America dominates the global structural steel market, accounting for over 35% market share in 2024. The presence of advanced manufacturing facilities and prominent construction industry are major drivers for structural steel consumption in the region. The US contributes significantly to North America's steel demand led by non-residential building construction, infrastructure projects, and oil & gas sector activities. Governments increasing investments in transportation infrastructure like roads, bridges, and railroads maintains steady demand for structural steel elements in the region. Moreover, focus toward upgrading outdated structures with advanced building materials further complements regional market growth.

Fastest Growing Region for Structural Steel Market
Asia Pacific region is projected to be the fastest growing market for structural steel globally during the forecast period. Expanding manufacturing sector, rapid urbanization, rising disposable income, and growing population are fuelling infrastructure development and construction industry expansion in APAC countries. Especially, China and India represent major steel consuming nations due to large-scale investments towards improving road connectivity, building smart cities, and developing special economic zones. Additionally, ongoing industrialization pushes the requirement of structural steel components across factories, manufacturing plants, and warehouses.

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