Malaysia Hot Rolled Carbon Steel Plate Market size is expected to develop revenue and exponential market growth at a remarkable CAGR during the forecast period from 2024–2030.
Malaysia's hot rolled carbon steel plate market has experienced significant developments, driven by various industry demands and recent production shifts. Understanding the types of steel plates available and the specific requirements from key industries is crucial for stakeholders navigating this evolving landscape.
Types of Hot Rolled Carbon Steel Plates in Malaysia
Hot rolled carbon steel plates are categorized based on their thickness, width, and grade. The primary types include:
Thin Plates: Typically ranging from 1.2mm to 6mm in thickness, these plates are commonly used in automotive and appliance manufacturing.
Medium Plates: With thicknesses between 6mm and 20mm, they serve construction and structural applications.
Heavy Plates: Exceeding 20mm in thickness, these are utilized in shipbuilding, pressure vessels, and heavy machinery.
Industry Requirements and Demand
The demand for hot rolled carbon steel plates in Malaysia is predominantly influenced by the following sectors:
Construction Industry: Accounting for approximately 63% of Malaysia's steel consumption, the construction sector requires medium to heavy plates for infrastructure projects, including bridges, buildings, and highways. The emphasis is on plates with high strength and durability to withstand structural loads.
Metal Processing Sector: Representing about 11% of steel usage, this sector demands various plate types for fabrication and manufacturing processes, necessitating versatility in steel plate specifications.
Electronics and Semiconductor Industry: Comprising 9% of steel consumption, this industry requires precision steel plates for manufacturing equipment and components, often favoring thin plates with specific surface finishes.
Automotive Industry: Making up 8% of the demand, the automotive sector seeks thin, high-strength plates for vehicle body parts and chassis components, emphasizing lightweight yet robust materials.
Market Dynamics and Production Shifts
Historically, Malaysia has relied heavily on imports to meet its flat steel product needs, including hot rolled carbon steel plates. In 2023, the country imported approximately 4 million metric tons of sheets and plates, accounting for over 50% of total steel imports. Major suppliers included China, Japan, and South Korea.
However, the landscape began to change with Eastern Steel's initiation of hot rolled coil (HRC) production in late 2024. As Malaysia's first HRC producer, Eastern Steel's entry aimed to reduce dependence on imports and bolster domestic supply. Despite this advancement, experts anticipate that the immediate impact on the global HRC market will be limited, given the dominance of established producers, particularly from China.
Furthermore, Malaysia's steel industry faces challenges of overcapacity, especially in long products like rebar and wire rods, while still grappling with a supply gap in flat products. The government's implementation of a two-year moratorium on the steel industry in August 2023 sought to address these issues, encouraging a shift towards higher-value steel products and alignment with decarbonization goals.
Future Outlook
Looking ahead, Malaysia's hot rolled carbon steel plate market is poised for transformation. The National Automotive Policy (NAP 2020) emphasizes the development of electric vehicles (EVs), potentially increasing demand for high-strength, lightweight steel plates. Additionally, the New Industrial Master Plan 2030 (NIMP 2030) aims to diversify industries and promote sustainable practices, which could further influence steel plate specifications and production methods.
Stakeholders must stay attuned to these evolving industry requirements and policy directions to effectively navigate Malaysia's hot rolled carbon steel plate market. Emphasizing innovation, quality, and sustainability will be key to meeting the dynamic demands of the construction, automotive, and manufacturing sectors.
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Tata Steel
ArcelorMittal
United States Steel Corporation
Voestalpine Group
China Baowu Group
POSCO Steel
Nippon Steel & Sumitomo Metal Corporation
JSW
By 2030, Malaysia is expected to witness significant momentum in the market research industry, aligning with the global projection of surpassing $120 billion, driven by a compound annual growth rate (CAGR) of over 5.8% from 2023 to 2030. The industry in Malaysia is being reshaped by technological disruptions, particularly through the adoption of machine learning, artificial intelligence, and advanced data analytics. These technologies provide businesses with predictive analysis and real-time consumer insights, enabling smarter and more precise decision-making. As part of the broader Asia-Pacific region, Malaysia is positioned to contribute substantially to the over 35% revenue growth expected from this region. Additionally, the adoption of innovative techniques such as mobile surveys, social listening, and online panels is rapidly gaining ground in Malaysia, emphasizing speed, precision, and customization, and driving a new era of data-driven strategies across industries.
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Growing demand for below applications around the world has had a direct impact on the growth of the Malaysia Hot Rolled Carbon Steel Plate Market
Standard Thickness Plates
Heavy Plates
Ultra-thin Plates
Custom Rolled Plates
Grade A
Grade B
High Strength Low Alloy Steel (HSLA)
Structural Steel Grades
Construction
Automotive
Shipbuilding
Oil and Gas
Manufacturing
Original Equipment Manufacturers (OEMs)
Fabricators
Distributors
Construction Companies
Up to 3 mm
3 mm to 10 mm
10 mm to 20 mm
More than 20 mm
1. Singapore
Relationship: Strong economic ties; major trading partner.
Highlights: Advanced financial and logistics hub; shares deep cross-border business and travel links with Malaysia.
2. Indonesia
Relationship: Largest ASEAN economy; close cultural and linguistic ties.
Highlights: Major market for Malaysian exports; shared initiatives in palm oil, labor, and regional security.
3. Thailand
Relationship: Land-border neighbor with active cross-border trade.
Highlights: Strong tourism, agricultural, and automotive collaboration.
4. Brunei
Relationship: Close diplomatic and energy-sector ties.
Highlights: Joint ventures in oil & gas; similar Malay cultural heritage.
5. Philippines
Relationship: Regional partner in ASEAN; maritime neighbor.
Highlights: Collaborations in education, labor migration, and disaster relief.
6. Vietnam
Relationship: Growing trade and investment partner.
Highlights: Rising manufacturing hub; strong demand for Malaysian technology and services.
7. Cambodia, Laos, and Myanmar
Relationship: Developing ASEAN members with growing economic ties to Malaysia.
Highlights: Opportunities in construction, retail, and financial services.
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1. Introduction of the Malaysia Hot Rolled Carbon Steel Plate 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. Malaysia Hot Rolled Carbon Steel Plate Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Malaysia Hot Rolled Carbon Steel Plate Market, By Type
6. Malaysia Hot Rolled Carbon Steel Plate Market, By Application
7. Malaysia Hot Rolled Carbon Steel Plate Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia
Vietnam
8. Malaysia Hot Rolled Carbon Steel Plate Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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