Metal products

Structural Metal Products Market to Surpass $764 Billion in Revenue by 2030, Says P&S Intelligence

NEW YORK, June 8, 2022 /PRNewswire/ — According to the market research report published by P&S Intelligence, in 2021 the construction metal products market taken into account $448.3 billion income, and by 2030 it is expected to reach $764.0 billiongrowing at a CAGR of 6.1% from 2021 to 2030. The booming construction industry globally is driving demand for these products as they are mold and pest resistant, durable and cost effective.

Industrial applications offer wide market opportunities

Metal liners, culverts, caissons, joists and plates are widely used in the creation of bridges, railways and highways. Therefore, improving transport infrastructure will provide lucrative market opportunities. In addition, government funding for transportation infrastructure helps businesses expand their operations. For example, between 2018 and 2030, the Indian government plans to invest approximately $750 billion in the railway sector.

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North America is the largest market for structural metal products

To share

The demand for structural metal products has increased in recent years due to North America. Construction steel consumption exceeded 40,000 tons. Over the past five years, the construction of multi-storey residential buildings, including hotels and dormitories, has increased significantly and accounted for about 10% of total demand a few years ago. Non-constructive structures including outdoor stadiums, power plants, oil refineries, rack systems, marine structures, trailers and transportation facilities also use structural steel. Therefore, the future of the structural metal products market has been shaped by the infrastructure development of the region.

APAC will witness the highest growth rate during the forecast period

During the forecast period, the APAC structural metal products market value will grow at the fastest rate. This will be due to massive investments in infrastructure by private companies and regional governments, increasing family income, increasing rate of urbanization and booming construction industry. For instance, India aims to spend approximately $1.4 trillion on infrastructure between 2019 and 2023, for long-term development.

Residential buildings have the highest demand for structural metal products

The residential sector is the one that uses structural metal products the most. According to the research, Chinese property developers built 9,268 million square meters of floor space in 2020, up 4% from the previous year. Likewise, africa real estate activity is growing with multinational developers investing in the region. Thus, over the next few years, the market for structural metal products will be propelled by the growing need for residential buildings.

Browse the detailed report on Global Construction Metal Products Market Analysis, Growth Report and Demand Forecast 2022-2030

Largest market share held by steel category

Since steel is used to work at high temperatures, the steel category generates the highest revenues, experiencing substantial expansion in recent years. Additionally, due to the labor constraints caused by the lockdown, construction companies are increasingly using customizable materials for high-rise apartments and other buildings.

Structural Metal Products Market Segmentation analysis

By product

  • Support and structure
  • Prefabricated buildings
  • Metal doors
  • Window frames
  • Shutters

By type

  • Steel
  • Aluminum
  • The iron
  • Others

Per end user

  • Residential
  • Commercial
  • Industrial

Regional outlook

  • North America
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
  • Latin America
  • Middle East and Africa
    • Saudi Arabia
    • South Africa

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SOURCE P&S Intelligence