World - Flat-Rolled Steel in Coils - Market Analysis, Forecast, Size, Trends And Insights
Report Update: May 1, 2024

World - Flat-Rolled Steel in Coils - Market Analysis, Forecast, Size, Trends And Insights

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Flat-Rolled Steel Coils Market

The global market for flat-rolled steel coils is projected to see an upward trend in both consumption and production over the period from 2022 to 2030. China leads both in consumption and production, with Italy showing the highest growth rate in market size. The market is expected to reach a volume of 415M tons and a value of $346B by the end of 2030. Various trends in consumption, production, and import/export prices are analyzed for key countries in the market.

Market Forecast

Driven by increasing demand for flat-rolled steel in coils worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 415M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $346B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Flat-Rolled Steel in Coils

In 2022, consumption of flat-rolled steel in coils increased by 0.3% to 385M tons for the first time since 2018, thus ending a three-year declining trend. Overall, consumption saw a relatively flat trend pattern. Global consumption peaked at 421M tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global flat-rolled steel coils market size fell to $274.5B in 2022, waning by -5.5% 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). Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $290.6B, and then reduced in the following year.

Consumption By Country

China (112M tons) constituted the country with the largest volume of flat-rolled steel coils consumption, comprising approx. 29% of total volume. Moreover, flat-rolled steel coils consumption in China exceeded the figures recorded by the second-largest consumer, the United States (46M tons), twofold. The third position in this ranking was taken by India (45M tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: the United States (-1.1% per year) and India (+3.6% per year).

In value terms, China ($68.4B), the United States ($41.6B) and India ($29.1B) appeared to be the countries with the highest levels of market value in 2022, with a combined 51% share of the global market. Russia, Italy, Japan, Brazil, the UK, Mexico, Turkey, Vietnam and South Korea lagged somewhat behind, together accounting for a further 27%.

In terms of the main consuming countries, Italy, with a CAGR of +6.2%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of flat-rolled steel coils per capita consumption in 2022 were Italy (216 kg per person), the UK (159 kg per person) and Russia (143 kg per person).

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +3.7%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

Flat hot-rolled steel in coils (285M tons) constituted the product with the largest volume of consumption, comprising approx. 74% of total volume. Moreover, flat hot-rolled steel in coils exceeded the figures recorded for the second-largest type, flat cold-rolled steel in coils (100M tons), threefold.

For flat hot-rolled steel in coils, consumption remained relatively stable over the period from 2012-2022.

In value terms, flat hot-rolled steel in coils ($198.8B) led the market, alone. The second position in the ranking was taken by flat cold-rolled steel in coils ($75.7B).

From 2012 to 2022, the average annual rate of growth in terms of the value of flat hot-rolled steel in coils market was relatively modest.

Production

World Production of Flat-Rolled Steel in Coils

In 2022, production of flat-rolled steel in coils was finally on the rise to reach 394M tons after three years of decline. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 6.2%. Global production peaked at 425M tons in 2018; however, from 2019 to 2022, production failed to regain momentum.

In value terms, flat-rolled steel coils production declined to $267.2B in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 27%. As a result, production attained the peak level of $294.2B, and then declined in the following year.

Production By Country

China (122M tons) remains the largest flat-rolled steel coils producing country worldwide, accounting for 31% of total volume. Moreover, flat-rolled steel coils production in China exceeded the figures recorded by the second-largest producer, India (47M tons), threefold. The United States (42M tons) ranked third in terms of total production with an 11% share.

In China, flat-rolled steel coils production expanded at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+4.5% per year) and the United States (-1.4% per year).

Production By Type

Flat hot-rolled steel in coils (289M tons) constituted the product with the largest volume of production, comprising approx. 73% of total volume. Moreover, flat hot-rolled steel in coils exceeded the figures recorded for the second-largest type, flat cold-rolled steel in coils (105M tons), threefold.

For flat hot-rolled steel in coils, production remained relatively stable over the period from 2012-2022.

In value terms, flat hot-rolled steel in coils ($193.9B) led the market, alone. The second position in the ranking was taken by flat cold-rolled steel in coils ($73.3B).

For flat hot-rolled steel in coils, production remained relatively stable over the period from 2012-2022.

Imports

World Imports of Flat-Rolled Steel in Coils

In 2022, the amount of flat-rolled steel in coils imported worldwide dropped to 83M tons, declining by -11.3% compared with the previous year. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 7.2%. Over the period under review, global imports attained the peak figure at 99M tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, flat-rolled steel coils imports reduced slightly to $79.1B in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 73% against the previous year. As a result, imports reached the peak of $81.8B, and then contracted modestly in the following year.

Imports By Country

The countries with the highest levels of flat-rolled steel coils imports in 2022 were Italy (6.9M tons), Vietnam (5.4M tons), the United States (5M tons), Turkey (4.9M tons), Thailand (4.1M tons), South Korea (3.3M tons), Spain (3.3M tons), China (3M tons), Belgium (2.9M tons), Poland (2.7M tons), Germany (2.7M tons) and Malaysia (2.4M tons), together resulting at 56% of total import. Mexico (2.2M tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +5.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel coils importing markets worldwide were Italy ($6.7B), the United States ($6B) and Vietnam ($4.9B), with a combined 22% share of global imports.

Italy, with a CAGR of +9.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Flat hot-rolled steel in coils represented the largest type of flat-rolled steel in coils in the world, with the volume of imports reaching 64M tons, which was approx. 77% of total imports in 2022. It was distantly followed by flat cold-rolled steel in coils (19M tons), creating a 23% share of total imports.

Flat hot-rolled steel in coils experienced a relatively flat trend pattern with regard to volume of imports. flat cold-rolled steel in coils (-1.5%) illustrated a downward trend over the same period. Flat hot-rolled steel in coils (+3.8 p.p.) significantly strengthened its position in terms of the global imports, while flat cold-rolled steel in coils saw its share reduced by -3.8% from 2012 to 2022, respectively.

In value terms, flat hot-rolled steel in coils ($59.8B) constitutes the largest type of flat-rolled steel in coils imported worldwide, comprising 76% of global imports. The second position in the ranking was held by flat cold-rolled steel in coils ($19.3B), with a 24% share of global imports.

From 2012 to 2022, the average annual rate of growth in terms of the value of flat hot-rolled steel in coils imports amounted to +3.5%.

Import Prices By Type

The average flat-rolled steel coils import price stood at $956 per ton in 2022, surging by 9% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat-rolled steel coils import price increased by +76.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 62% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major imported products. In 2022, the product with the highest price was flat cold-rolled steel in coils ($1,005 per ton), while the price for flat hot-rolled steel in coils totaled $941 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by flat hot-rolled steel coils (+2.9%).

Import Prices By Country

In 2022, the average flat-rolled steel coils import price amounted to $956 per ton, with an increase of 9% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat-rolled steel coils import price increased by +76.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 62% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,209 per ton), while South Korea ($785 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Flat-Rolled Steel in Coils

In 2022, the amount of flat-rolled steel in coils exported worldwide reduced to 91M tons, waning by -5.1% compared with the previous year's figure. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 11% against the previous year. The global exports peaked at 104M tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, flat-rolled steel coils exports reduced modestly to $80.1B in 2022. Over the period under review, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.9% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 81%. As a result, the exports attained the peak of $81.3B, and then fell slightly in the following year.

Exports By Country

In 2022, Japan (14M tons), China (13M tons) and South Korea (8.9M tons) was the major exporter of flat-rolled steel in coils in the world, achieving 40% of total export. It was distantly followed by Finland (5.7M tons), Belgium (4.5M tons), Taiwan (Chinese) (4.4M tons) and India (4.3M tons), together constituting a 21% share of total exports. France (3.7M tons), Germany (3.7M tons), Russia (3.6M tons), Canada (2.3M tons), the Netherlands (2.2M tons) and Turkey (2M tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +36.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($11.6B), China ($10.8B) and South Korea ($7.7B) appeared to be the countries with the highest levels of exports in 2022, with a combined 38% share of global exports. Belgium, Finland, Taiwan (Chinese), Germany, France, India, Russia, Canada, the Netherlands and Turkey lagged somewhat behind, together comprising a further 42%.

In terms of the main exporting countries, Finland, with a CAGR of +36.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Flat hot-rolled steel in coils was the largest exported product with an export of about 67M tons, which reached 74% of total exports. It was distantly followed by flat cold-rolled steel in coils (24M tons), generating a 26% share of total exports.

Flat hot-rolled steel in coils experienced a relatively flat trend pattern with regard to volume of exports. Flat cold-rolled steel in coils experienced a relatively flat trend pattern. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, flat hot-rolled steel in coils ($58.2B) remains the largest type of flat-rolled steel in coils supplied worldwide, comprising 73% of global exports. The second position in the ranking was held by flat cold-rolled steel in coils ($21.9B), with a 27% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of flat hot-rolled steel in coils exports stood at +3.3%.

Export Prices By Type

In 2022, the average flat-rolled steel coils export price amounted to $877 per ton, picking up by 3.8% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat-rolled steel coils export price increased by +69.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 63% against the previous year. The global export price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major exported products. In 2022, the product with the highest price was flat cold-rolled steel in coils ($912 per ton), while the average price for exports of flat hot-rolled steel in coils stood at $864 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by flat hot-rolled steel coils (+2.5%).

Export Prices By Country

The average flat-rolled steel coils export price stood at $877 per ton in 2022, rising by 3.8% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, flat-rolled steel coils export price increased by +69.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 63%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($1,221 per ton), while India ($745 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global flat-rolled steel coils market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24103110 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, simply hot-rolled, not clad, plated or coated, in coils
  • Prodcom 24103310 - Hot-rolled flat products in coil for rerolling of a width of .600 mm or more, of stainless steel
  • Prodcom 24103320 - Other hot-rolled flat products in coil of a width of .600 mm or more, of stainless steel
  • Prodcom 24103410 - Hot-rolled flat products in coil for rerolling of a width of less than .600 mm, of stainless steel
  • Prodcom 24103420 - Other hot-rolled flat products in coil of a width of less than .600 mm, of stainless steel
  • Prodcom 24103510 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, in coils (excluding products of high-speed or siliconelectrical steel)
  • Prodcom 24104110 - Uncoated cold-rolled sheet, plate and strip of a width . .600 mm, of steel other than stainless steel
  • Prodcom 24104130 - Electrical sheet and strip not finally annealed of a width of .600 mm or more
  • Prodcom 24104150 - Electrical sheet and strip, grain non-oriented of a width . .600 mm

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam
  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023
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