The global demand for Hot Rolled Coil Steel Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Hot-rolled steel coils are used in truck frames, heavy machinery, enormous pipes and tubes, agricultural equipment, and metal building applications. Mechanical characteristics and deformation-induced residual stress in hot-rolled steel coils are typically directed. Compared to cold-rolled steel coils, hot-rolled steel coils offer a greater tolerance for the quantity of carbon present. As a result, using these coils is more challenging. Furthermore, a hot-rolled steel coil is less expensive than cold-rolled steel in general. The procedure of rolling steel at a high temperature above the temperature it recrystallizes is known as hot rolling. Hot-rolled coils are appropriate for applications that do not require a lot of shape change or force. Pipes, automobiles, railways, and shipyards are just a few of the applications for hot-rolled coils. After being machined at a high temperature, steel is rolled into hot-rolled coils. The melted steel is rolled into a ring after being cast onto a steel slab. After this process, hot-rolled coils must be chilled before use.
Market Dynamics
Rising industrialization and increased infrastructure projects drive the global Hot Rolled Coil Steel Market. Increased automation in various sectors is expected to drive the global market for hot-rolled steel coils shortly. Over the forecasted period, Hot Rolled Coil Steel is predicted to demand in the vehicle industry. Consumption has increased due to exponential expansion in infrastructure to serve a growing population and a massive increase in residential construction projects. Low-cost labor and the ever-increasing urban population in the area, in addition to a large number of automobile manufacturing plants, are essential drivers of market expansion. Hot-rolled coil steel is frequently chosen due to its outstanding formidability, weldability, castability, intense residual strain during baking, and excellent adhesion, thereby further augmenting the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of hot rolled coil steel. The growth and trends of hot rolled coil steel industry provide a holistic approach to this study.
Market Segmentation
This section of the hot rolled coil steel market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product
- Hot Rolled Coils (Thickness Below 3Mm)
- Hot Rolled Coils (Thickness>3 Mm)
By Application
- Automotive
- Construction
- Home Appliance
- Machinery
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Hot Rolled Coil Steel market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Hot Rolled Coil Steel Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hot rolled coil steel market include ArcelorMittal, China Baowu Steel Group Corp., Ltd, Nippon Steel, POSCO, Hesteel Group, JFE Holdings, Inc, Hyundai Steel, Angang Steel Company Limited, Maanshan Iron & Steel Company Limited, and Others. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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