Normalized Steel Plates Market size was valued at USD 80 Billion in 2024 and is forecasted to grow at a CAGR of 5.5% from 2026 to 2033, reaching USD 120 Billion by 2033.
The global normalized steel plates market experienced significant growth in 2022, with a market size of approximately 33 million tonnes. This upward trend is projected to continue, reaching around 45 million tonnes by 2034, representing a compound annual growth rate (CAGR) of 2.5% during the forecast period. This growth is primarily driven by increasing demand from the construction industry, which accounted for about 65% of the global steel plate market in 2023. The construction sectors expansion, particularly in emerging economies, has led to heightened demand for infrastructure development, thereby propelling the market for normalized steel plates. Regionally, the Asia Pacific dominated the global market, holding a substantial share of over 45% in 2019. This dominance is attributed to rapid industrialization and urbanization in countries such as China, India, Japan, and South Korea, leading to increased construction activities and automotive production. Europe followed as the second largest regional segment, accounting for nearly 24.5% of the market in 2019, driven by investments in infrastructure development and manufacturing activities, including shipbuilding. North America also exhibited significant growth, with increasing construction spending and automotive production contributing to the demand for normalized steel plates. The Middle East and Africa region is projected to witness a CAGR of 3.4% from 2020 to 2027, supported by government diversification programs and investments in infrastructure projects.
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Arcelormittal
Posco
Nippon Steel & Sumitomo Metal Corporation
JFE Holdings
Baosteel
Thyssenkrupp AG
Tata Steel
Outokumpu
Novolipetsk Steel
Vitkovice Steel
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Normalized Steel Plates Market
Hot Rolled Steel Plates
Cold Rolled Steel Plates
Galvanized Steel Plates
Stainless Steel Plates
Alloy Steel Plates
Carbon Steel Plates
Below 5 mm
5 mm to 10 mm
10 mm to 20 mm
20 mm to 50 mm
Above 50 mm
Construction
Heavy Equipment Manufacturing
Automotive
Shipbuilding
Aerospace
Oil and Gas
Anodized
Pickled and Oiled
Oxide Coated
Mill Scale
Painted
Rectangular Plates
Square Plates
Circular Plates
Custom-Shaped Plates
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Normalized Steel Plates Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Normalized Steel Plates Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Normalized Steel Plates Market, By Type
6. Global Normalized Steel Plates Market, By Application
7. Global Normalized Steel Plates Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Normalized Steel Plates Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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