Metal products

Structural Metal Products Market Growth Analysis,

In 2021, the structural metal products market stood at $448.3 billion, and it is expected to grow at a rate of 6.1% from 2021 to 2030, to acquire $764.0 billion in revenue, attributed to Rising construction activities driven by infrastructure development around the world. The surge in demand for structural metal products is attributed to their physical properties including pest and mold resistivity, durability, and cost effectiveness, propelling the market. Government-led infrastructure development projects such as construction of railways and highways are driving the market.

Infrastructure development activities to manage transportation are driving the structural metal products market. For example, the massive use of metal liners, casings, plates, culverts, and bar joints in the construction of highways, railways, and bridges is driving the expansion of the market. Government support to fund these infrastructure projects translates into growing opportunities for businesses to generate more revenue. The highway construction business is expected to increase in the near future, leading to a proliferation of the market.

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Within the product segment, the support and structure category generates significant revenue in the structural metal products market amounting to more than 35%. An increase in demand for these products is expected, mainly for the construction of stairs, sheds, terraces and high-rise buildings. Fabricated metal structural beams are more preferred in construction due to their long service life, good adhesion and fire resistance properties. Many companies of fabricated metal brackets and structures are established in Germany, attributed to the increase in residential and construction building construction.

The residential sector holds the largest market share of structural metal products. He should keep the same position in the near future. The increase in infrastructure development activities in Africa is attributed to the rising demand for residential buildings, driving the expansion of the market. In addition, the market should experience a surge in the non-residential sectors. For example, the Belt and Road Initiative will increase China’s steel imports and exports for infrastructure development activities in the region. The construction of roads, railways and ports will lead to a boom in the market.

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North America dominates the structural steel products market, attributed to multi-storey residential construction. The demand for structural steel is increasing in the region, attributed to the construction of outdoor stadiums, power plants, oil refineries and power plants. Non-structural applications of structural steel include the construction of transportation facilities, marine structures, rack systems and mobile homes. The APAC structural metal products market is expected to grow at a rapid rate in the near future.

Hence, the surge in infrastructure development activities attributed to the expansion of the construction industry has resulted in market penetration.

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This press release was published on openPR.