The global flat steel industry value reached USD 558 billion in 2023. Over the forecast period, the value is anticipated to rise at 5.9% CAGR. The sector is predicted to increase from USD 586 billion in 2024 to USD 1037 billion in 2034.

Country-wise Insights

Category-wise Insights

In 2024, the building and infrastructure segment utilized ** percent of the steel produced worldwide. In the same year, the automotive industry accounted for ** percent of the global steel use, whereas electrical equipment made up ***** percent of total steel demand.

The global flat steel market size was valued at USD 520.03 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 781.30 Billion by 2033, exhibiting a CAGR of 4.40% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of 41.2% in 2024. The market is experiencing steady growth driven by demand from construction, automotive, and manufacturing industries. The material’s strength, formability, and cost-efficiency make it ideal for structural applications, vehicle components, and machinery. Technological advancements and regional industrialization are further accelerating adoption thereby contributing to a notable increase in global flat steel market share.

IMARC Group provides an analysis of the key trends in each sub-segment of the global flat steel market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on product, material and application.

The global sales of steel drum are estimated to be worth USD 13,123.2 million in 2025 and anticipated to reach a value of USD 20,379.9 million by 2035. Sales are projected to rise at a CAGR of 4.5% over the forecast period between 2025 and 2035. The revenue generated by steel drum in 2024 was USD 12,412.5 million. The industry is anticipated to exhibit a Y-o-Y growth of 4.3% in 2025.

Semi-Annual Market Update

Country-wise Insights

Category-wise Insights

In 2024, a total of around 1,885 million metric tons of crude steel were produced worldwide. This was almost the same as the previous year's production figure. Steel is an alloy made by combining iron and other elements.

The India Steel Market report segments the industry into Basic Form (Crude Steel), Final Form (Finished Steel), Technology (Blast Furnace-basic Oxygen Furnace (BF-BOF), Electric Arc Furnace (EAF), Other Technologies), End User Industry (Automotive and Transportation, Building and Construction, Tools and Machinery, Energy, Consumer Goods, and more).

Electrical Steel Market was valued at USD 25.78 billion in 2024 and is expected to reach USD 36.52 billion by 2030 with a CAGR of 5.82% during the forecast period.

The carbon steel market is valued at USD 1,140.16 billion in 2025 and is expected to reach USD 1,687.72 billion by 2035, reflecting a compound annual growth rate (CAGR) of 4% over the forecast period.

Semi-annual Market Update

Analyzing Carbon Steel Market by Top Investment Segments

Country-wise Insights

The global advanced high strength steel (AHSS) market is approximated at a value of US$ 23.2 billion in 2024. Rising use of AHSS in oil rigs, bridges, civil engineering, and construction machines, owing to its light weight, strength, durability, recyclability versatility, and high corrosion resistance, is set to push product sales at a CAGR of 7.9% to reach US$ 49.6 billion by 2034.

Country-wise Analysis

Category-wise Analysis

Global Steel Plate Market was valued at USD 65239.76 Million in 2024 and is expected to reach USD 96786.94 Million by 2030 with a CAGR of 3.22% during the forecast period.

Structural Steel Market was valued at USD 126.2 billion in 2024 and is expected to reach USD 177.6 billion by 2030 with a CAGR of 5.7%.

The global metal magnesium market size is projected to reach US$ 8.36 billion by 2034, up from US$ 5.04 billion in 2024, which equals expansion at a CAGR of 5.2% through 2034.

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The global stainless steel household articles market expanded rapidly to $23.5B in 2024, picking up by 5.6% against the previous year. In general, the total consumption indicated a noticeable expansion from 2012 to 2024: its value increased at an average annual rate of +3.5% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

The global armour steel plate market size has been projected to reach US$ 2.1 billion by the end of 2034, up from a value of US$ 1.45 billion in 2024. A CAGR of 3.8% has been forecasted by Fact.MR for this market from 2024 to 2034.

Country-wise Insights

Category-wise Insights

Increasing demand for direct reduced iron (DRI) from infrastructure, appliances, aerospace, automotive, and other sectors is propelling the market growth. The valuation of this market is expected to reach US$ 28,195.90 million in 2024.

Category-wise Direct Reduced Iron Market Analysis

Global Direct Reduced Iron Market Demand Analysis by Country

The global wear resistant steel plate market size is approximated at US$ 31.46 billion in 2024. Worldwide earnings from the sales of wear resistant steel plates are projected to increase at a CAGR of 4% and reach US$ 46.58 billion by 2034.

Country-wise Analysis

Category-wise Analysis

The metal can market share is estimated to show consistent growth throughout the forecast period, expanding at a CAGR of 2%. The metal can market value is expected to expand from US$ 40.4 billion in 2024 to US$ 49.3 billion by 2034.

Category-wise Metal Can Industry Insights

Metal Can Market Analysis by Country

The Global Automotive Steel Market size reached USD 125.79 Billion in 2023 and is expected to reach USD 186.47 Billion, growing with a CAGR of 6.80% in the forecast period.