The Mexico flat steel market reached a volume of around 17919.00 KMT in 2024. The market is projected to grow at a CAGR of 5.50% between 2025 and 2034, reaching a volume of nearly 30608.24 KMT by 2034.

Mexico Flat Steel Market growth is driven by both emerging and developed economies, underscores the increasing importance of flat steel products in modern industry.

The Mexican flat-rolled steel products market soared to $348M in 2024, increasing by 57% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a tangible increase. As a result, consumption reached the peak level of $404M. From 2023 to 2024, the growth of the market failed to regain momentum.

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Steel Market Size 2025-2029

The steel market size is valued to increase USD 307.4 billion, at a CAGR of 4.5% from 2024 to 2029. Urbanization and infrastructure development will drive the steel market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 67% growth during the forecast period.
By Type - Flat steel segment was valued at USD 797.80 billion in 2023
By Application - Structural steel segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 28.76 billion
Market Future Opportunities: USD 307.40 billion
CAGR from 2024 to 2029 : 4.5%

Market Summary

The market is a significant player in the industrial sector, with a current size of over 1,300 million metric tons in annual production. This market's expansion is primarily driven by urbanization and infrastructure development, as steel is a crucial component in constructing buildings, bridges, and transportation systems. Additionally, there is a growing trend toward sustainable steel production, as companies seek to reduce their carbon footprint and meet increasing environmental regulations. However, the market faces challenges from trade barriers and protectionist policies, which can disrupt global supply chains and impact pricing. These issues can lead to volatility in the market and create uncertainty for businesses.
Despite these challenges, the steel industry continues to evolve, with innovations in production methods and materials driving efficiency and cost savings. As the world's population grows and urbanizes, the demand for steel is expected to remain strong, making it an essential commodity for businesses across various industries.

What will be the Size of the Steel Market during the forecast period?

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How is the Steel Market Segmented ?

The steel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Flat steel
  Long steel


Application

  Structural steel
  Automotive steel
  Electrical steel
  Packaging steel


End-user

  Construction
  Transportation
  Machinery
  Metal goods
  Others


Method

  Basic oxygen furnace
  Electric arc furnace
  Open hearth furnace


Geography

  North America

    US
    Mexico


  Europe

    Germany
    Italy
    Russia


  Middle East and Africa

    Turkey


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The flat steel segment is estimated to witness significant growth during the forecast period.

In the ever-evolving market, flat steel, a significant sector, is characterized by its versatility and robustness. This category includes hot-rolled coils (HRC), cold-rolled coils (CRC), galvanized steel, tinplate, and steel plates, each designed to meet specific industrial demands. Hot-rolled steel sheets offer high yield strength and tensile strength, while cold-rolled steel sheets provide improved surface finish and formability. Galvanized steel coatings ensure corrosion resistance, making them ideal for harsh environments. The steel industry continues to innovate, with advancements in heat treatment processes, steel weldability, and microalloyed steel grades. Ductile iron properties and stainless steel grades cater to high-strength applications, while steel forming processes enhance production efficiency.

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The Flat steel segment was valued at USD 797.80 billion in 2019 and showed a gradual increase during the forecast period.

Steel quality control is ensured through non-destructive testing and microstructure analysis. The steel industry's focus on research and development has led to the emergence of high-strength low-alloy steel, which boasts impressive strength-to-weight ratios. A notable example of flat steel's impact is its extensive use in the automotive sector, where it contributes to the manufacturing of body panels and structural components. In fact, the automotive industry accounts for approximately 16% of global steel consumption. As the market continues to evolve, the demand for advanced materials and processing technologies will persist, driving innovation and growth within this essential industry.

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Regional Analysis

APAC is estimated to contribute 67% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Asia-Pacific (APAC) region is experiencing significant growth, fueled by industrial expansion, infrastructure devel

Statistics illustrates market overview of flat cold-rolled steel in coils in Mexico from 2007 to 2024.

The Mexican silicon-electrical steel flat-rolled product market rose rapidly to $435M in 2024, increasing by 5.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a perceptible increase. As a result, consumption attained the peak level of $464M.

Statistics illustrates market overview of iron or non-alloy steel; flat-rolled, hot-rolled, rolled on four faces or in a closed box pass, of a width more than 150mm but less than 600mm, 4mm thick or more, not in coils, without patterns in relief in Mexico from 2007 to 2024.

Flat-Rolled Steel Products Price in Mexico - 2023. Find the latest marketing data on the IndexBox platform.

Costa Rica Exports of flat-rolled products of other alloy steel, width of less than 600mm to Mexico was US$11.1 Thousand during 2010, according to the United Nations COMTRADE database on international trade.

In 2024, the Mexican cold-rolled steel products market decreased by -0.7% to $4.8B, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw resilient growth. Over the period under review, the market attained the peak level at $5.4B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The global structural steel fabrication market is projected to reach a value of $209.02 billion by 2033, exhibiting a CAGR of 6.09% during the forecast period (2023-2033). The market growth is primarily driven by the increasing demand for structural steel in construction projects, particularly in commercial buildings, industrial facilities, and infrastructure development. Additionally, the rising urbanization, population growth, and government initiatives to improve infrastructure contribute to the market growth. The market is segmented based on product type, material, application, and region. Product type segmentation includes beams and girders, columns and braces, channels, flats and angles, plates and sheets, tees, zees, and special shapes. Material segmentation includes carbon steel, stainless steel, aluminum, and other metals. Application segmentation includes commercial buildings, industrial facilities, bridges, power transmission towers, and offshore structures. Regionally, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa are the key markets for structural steel fabrication. Asia-Pacific is the largest market, followed by North America and Europe. The growth in Asia-Pacific is primarily driven by the rapid industrialization and urbanization in countries such as China, India, and Southeast Asia. North America is another significant market, with the United States being the largest consumer of structural steel. Europe is also a mature market, with Germany, the United Kingdom, and France being the major contributors. The Middle East & Africa and South America are expected to witness steady growth during the forecast period due to increasing investments in infrastructure development. Key players in the market include Voestalpine, SSAB, United States Steel, Nucor, Hebei Iron and Steel, Gerdau, JFE Steel, POSCO, Baosteel, Tata Steel, and ArcelorMittal. Recent developments include: , The Structural Steel Fabrication Market is projected to grow from USD 209.02 billion in 2023 to USD 355.8 billion by 2032, exhibiting a CAGR of 6.09% during the forecast period. The market growth is attributed to the increasing demand for Steel in construction, infrastructure, and industrial applications. Additionally, government initiatives to promote sustainable construction practices and investments in infrastructure development are expected to drive market growth. Recent news developments include ArcelorMittal's announcement of a new state-of-the-art steel fabrication facility in Mexico and SSAB's partnership with Siemens to develop digital solutions for the steel fabrication industry. These developments indicate the growing importance of technology and innovation in the structural steel fabrication market., Structural Steel Fabrication Market Segmentation Insights. Key drivers for this market are: Infrastructure Development Growing Construction Industry Renewable Energy Projects Prefabricated Buildings Industrial Automation. Potential restraints include: Growing construction industry Rise in urbanization Increasing demand for infrastructure Technological advancements Government regulations.

Costa Rica Exports of flat-rolled products of iron/non-alloy steel, less 600mm width, not clad to Mexico was US$66 Thousand during 2013, according to the United Nations COMTRADE database on international trade.

After three years of growth, the Mexican steel plaited band market decreased by -6.4% to $41M in 2024. Overall, consumption continues to indicate a relatively flat trend pattern. Steel plaited band consumption peaked at $44M in 2023, and then fell in the following year.

In 2024, the Mexican market for raw steel and steel semi-finished products decreased by -9.6% to $12.4B, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $14B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

Mexico's antitrust body is likely to renew approval for Nippon Steel's acquisition of U.S. Steel, advancing the $14.9 billion merger.

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North America Roofing Market Size 2025-2029

The roofing market in North America size is forecast to increase by USD 3.81 billion at a CAGR of 2.7% between 2024 and 2029.

The North American roofing market is experiencing significant growth, driven by the high demand for durable and cost-effective bitumen coating solutions. The preference for advanced materials such as corrugated galvanized steel sheets, polyester painted sheets, PVC plastisol, bitumen, sheet metal, and polycarbonate is on the rise. This trend is particularly prominent in the commercial and industrial sectors, where the need for robust and long-lasting roofing systems is paramount. Another key trend shaping the market is the shift towards recycled and eco-friendly roofing products. This trend is being fueled by increasing environmental awareness and government regulations, as well as the growing demand for sustainable building solutions.
However, the market also faces challenges, including a skilled labor shortage, which can impact project timelines and costs. To stay competitive, roofing companies must adapt to these trends and challenges, exploring innovative solutions and collaborating with industry partners to meet the evolving needs of their customers.

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The North American roofing market is witnessing significant advancements, with a focus on enhancing the performance and sustainability of roofing systems. UV resistance and weather resistance are key considerations, leading to the adoption of advanced roofing materials. Roofing BIM (Building Information Modeling) and data analytics enable more accurate simulation and prediction of roofing system behavior. Roofing IoT (Internet of Things) and AI (Artificial Intelligence) are revolutionizing roofing design and engineering, improving energy efficiency, acoustic performance, and predictive maintenance. Fire resistance, hail resistance, and moisture resistance remain essential factors in roofing system design. Green building initiatives, such as LEED certification and life cycle assessment, are driving the market towards more sustainable roofing solutions.

Building envelope optimization and wind resistance are also critical aspects of roofing engineering. Roofing robotics and 3D modeling streamline the manufacturing and installation processes, while recycling and waste management reduce environmental impact. Solar roofing and thermal performance are gaining popularity as energy efficiency becomes a priority.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Residential
  Non-residential


Material

  Asphalt shingles
  Metal roofing
  Clay and concrete
  Tiles wood shingles and shakes
  Synthetic roofing products


Type

  Flat roofs
  Sloped roofs


Geography

  North America

    US
    Canada
    Mexico

By Application Insights

The residential segment is estimated to witness significant growth during the forecast period.

The North American roofing market encompasses various segments, including roofing coatings, aesthetics, tile, accessories, industrial, residential, sealants, repair, technology, distributors, built-up, suppliers, wood shake, membranes, insulation, commercial, asphalt shingles, modified bitumen, education, design, agricultural, sustainability, cost, trends, felt, warranty, standards, installation, green, new construction, contractors, safety, innovation, codes, value, flashings, lifespan, maintenance, inspection, gutters, cool, slate, performance, adhesives, ventilation, metal, downspouts, fasteners, and single-ply. This market is poised for growth due to the strengthening economy, with consumer finances improving, interest rates declining, and unemployment decreasing.

These factors will contribute to a reduction in excess housing stock and the construction of new homes and subsequent roofs across North America. Population growth and urbanization will further bolster gains in the residential segment. The housing industry's expansion in various countries in 2024 is a testament to the population boom and falling interest rates' influence.

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Market Dynamics

Our North America Roofing Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of North America Roofing Market?

High demand for bitumen coating is the key driver o

The Mexican stainless steel household articles market expanded slightly to $666M in 2024, increasing by 4.8% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $722M in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The Mexican steel sheet piling market rose rapidly to $25M in 2024, growing by 6.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs in 2024 and is likely to continue growth in the immediate term.

In 2024, the Mexican base metal flexible tubing market increased by 0.6% to $85M, rising for the second year in a row after four years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $129M in 2018; however, from 2019 to 2024, consumption failed to regain momentum.

The average export price for iron or steel flat spiral or discs springs stood at $5,737 per ton in February 2025, surging by 22% against the previous month.