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Structural Steel Market Forecast: What Market Value Is Expected By 2030?
The structural steel market has experienced substantial growth in its size during recent years. It is forecast to expand from $115.82 billion in 2025 to $122.93 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 6.1%. This past increase can be ascribed to elements such as rising urbanization, the proliferation of industrial buildings, the availability of iron ore, government expenditures on infrastructure, and the necessity for durable construction materials.
The structural steel market is poised for significant expansion in the upcoming years. Its valuation is forecasted to reach $154.05 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 5.8%. This anticipated growth during the forecast period is driven by factors such as smart city developments, sustainable building initiatives, the increasing adoption of modular construction techniques, advancements in steel processing technology, and heightened private sector capital. Key trends expected over this period encompass a surge in demand stemming from infrastructure development, the expanded utilization of pre-engineered steel components, broader applications for high-strength steel, increased incorporation into commercial building projects, and a commitment to eco-friendly steel manufacturing processes.
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Structural Steel Market Industry Drivers: What Is Driving Revenue Growth?
The anticipated increase in construction work is set to fuel the expansion of the structural adhesives market. These activities encompass the stages of planning, designing, and constructing various structures, including residential, commercial, and infrastructure developments. The surge in construction is attributable to multiple factors like urbanization, government programs, infrastructure investments, and an expanding population. Structural adhesives improve material durability and strength, rendering them perfectly suited for contemporary construction uses. Their capability to efficiently join various materials addresses the increasing need for quicker, more dependable building solutions amidst expanding construction efforts. As an illustration, TST Europe, a Switzerland-based quick-release couplings and coupling systems specialist, reported in June 2024 that overall construction expenditure in the U.S. hit $1.98 trillion in 2023, marking a 7.4% rise from the prior year. By 2023, roughly 745,000 construction businesses were operating in the U.S. Consequently, the increased volume of construction projects is propelling the expansion of the structural adhesives market.
Structural Steel Market Segments: Where Are The Largest Growth Opportunities?
The structural steel market covered in this report is segmented –
1) By Type: Structural Sections, Plates, Hollow Structural Sections (HSS), Structural Reinforcement Steel, Other Types
2) By Manufacturing Process: Hot-Rolled Structural Steel, Fabricated Structural Steel
3) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Structural Sections: I-Beams, H-Beams And Universal Beams, Columns, Channels, Angles, Tee Sections
2) By Plates: Structural Steel Plates, Heavy Plates, Quenched And Tempered Structural Plates, High-Strength Structural Plates
3) By Hollow Structural Sections (HSS): Circular Hollow Sections (CHS), Square Hollow Sections (SHS), Rectangular Hollow Sections (RHS)
4) By Structural Reinforcement Steel: Reinforcing Bars (Rebar), Deformed Bars, Welded Wire Reinforcement (WWR And Mesh)
5) By Other Types: Girders, Trusses, Built-Up And Fabricated Structural Sections, Lattice Structures
#Structural Steel Market Growth Trends: What Is Influencing The Future Outlook?
Prominent firms within the structural steel market are prioritizing advancements in sustainable steel manufacturing, including approaches that achieve zero fossil-carbon emissions, with the aim of reducing environmental harm and fostering climate-neutral building practices. Specifically, zero fossil-carbon emissions entail the production of steel without generating operational carbon dioxide originating from fossil sources, primarily through the use of recycled steel and energy from non-fossil origins. An illustrative example is SSAB AB, a steel producer based in Sweden, which introduced SSAB Zero in March 2023; this steel is devoid of fossil-carbon emissions, being produced from recycled steel and fossil-free electricity, without the use of carbon offsets. This innovative product delivers high-quality steel possessing mechanical characteristics comparable to conventional SSAB steels, concurrently achieving a substantial reduction in operational emissions, thereby representing a significant advancement in sustainable steel technology.
Structural Steel Market Major Participants And Competitive Dynamics
Major companies operating in the structural steel market are Severstal, ArcelorMittal, POSCO, China Baowu, Nippon Steel, Thyssenkrupp, Nucor, JFE Steel, Tata Steel, U.S. Steel, JSW Steel, HBIS, Hyundai Steel, Ansteel, Voestalpine, Jiangsu Shagang, Gerdau, Evraz, SAIL, SSAB, British Steel
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Structural Steel Market Geographic Landscape: Which Region Dominates Industry Growth?
Asia-Pacific was the largest region in the structural steel market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the structural steel market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.