Description
Global Square Hollow Section Steel Market By Type (Welded Square Hollow Section and Seamless Square Hollow Section); By Application (Agricultural, Construction, General Engineering, Mechanical Application and Others) and Region –Analysis of Market Size, Share and Trends for 2014 – 2019 and Forecasts to 2030.
Product Overview
Square hollow section comes in various sizes, wall thicknesses and specifications. Square hollow sections or square tubes are made of either hot rolled, cold rolled, pre-galvanized or stainless steel to form cold and welded. The suitable mother tube, a round steel tube, has to be formed first to form the square steel section. Using rolls from a round tube, this gradually presses the round tube into a square hollow section.
Market Highlights
Global Square Hollow Section Steel Market size was registered at USD XX billion in 2019, and is estimated to reach USD XX billion by 2030, registering a CAGR of XX% from 2020 to 2030. Growing residential and non-residential construction activities and development demand for steel products as building materials will promote growth for the hollow structural sector industry. Additionally, advanced building technologies like 3D printing and business information modeling are gaining rapid popularity in the engineering and construction sectors.
Global Square Hollow Section Steel Market: Segments
Global Square Hollow Section Steel Market is segmented on the basis of type, application and region.
By Type (in %), Global Square Hollow Section Steel Market, 2019
By type the market can be segmented into welded square hollow section and seamless square hollow section.
Global Square Hollow Section Steel Market Dynamics:
Increasing constructional activities and government initiatives to increase market growth
Growing residential and non-residential construction activities and development demand for steel products as building materials will promote growth for the hollow structural sector industry. Additionally, advanced building technologies like 3D printing and business information modeling are gaining rapid popularity in the engineering and construction sectors. This development is also expected to have a positive impact on demand for hollow section steel in industrial buildings in the years ahead.
Costly and fireproof treatment along with outdoor corrosion to hinder the market growth
Structural steel requires a costly, fireproof treatment and is susceptible to corrosion in outdoor environments. This can somewhat hamper the growth of industry.
Global Square Hollow Section Steel Market: Regions
In terms of value and volume, APAC accounted for XX% of total market volume share in 2019
Growing residential construction worldwide due to increasing income levels and urbanization in APAC region has led to increased building projects. Builders rely on the quality of the construction materials to create a solid building foundation. Increasing use of the product in the construction of residential buildings will have a positive impact on market trends in square hollow section steel.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC and MENA.
Global Square Hollow Section Steel Market: Competitive landscape
In order to broaden their product range and increase their regional presence, manufacturers are involved in product launches, developments and collaborations along with support from government regulations, which may enable acquiring firms to leverage the long-term steel market.
Global Square Hollow Section Steel Market: Key players
• Arcelor Mittal
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Nippon Steel and Sumitomo Metal Corporation
• Hebei Steel Group
• Baosteel Group
• Shagang Group
• Ansteel Group
• Shougang Group
• JFE Steel Corporation
• Tata Steel Group
• Other prominent players
Global Square Hollow Section Steel Market report also contains analysis on:
Global Square Hollow Section Steel Market segments: –
• By Type:
o Welded Square hollow section
o Seamless Square hollow section
• By Application:
o Agricultural
o Construction
o General Engineering
o Mechanical Application
o Others
• Global Square Hollow Section Steel Market dynamics
• Global Square Hollow Section Steel Market size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
