The global structural steel market is estimated at US $ 59,100 million in 2018 and is expected to expand to US $ 86,700 million by the end of 2025. Thus, the annual sales growth in this market will average 4.9% during 2019-2025.
China accounted for 64.86% of the structural steel market share in 2018 and is expected to maintain its leadership through the end of 2025.
Southeast Asia is the most promising market for structural steel consumption in Asia, where Thailand, the Philippines, Vietnam, Indonesia take leading positions.
The structural steel market is quite concentrated. Tata Steel, Nippon Steel Sumitomo Metal, POSCO, Baosteel, Ansteel, Wuhan Iron and Steel are the main suppliers to the structural steel market in Asia. The five in 2018 occupied about 30.23% of the Asian production market.
Structural steel is a category of steel used as a building material for the manufacture of structural profiles. The profiles have a specific cross-section and a chemical composition and mechanical properties that meet specific standards. Structural steel profiles, dimensions, composition, strength, storage methods, etc. are regulated by standards in most industrialized countries. Structural steel has many uses in today's world, but it is most commonly used in construction.
