Structural Metal Products Market Size and Share Analysis by Product (Support and Structure, Prefabricated Buildings, Metal Doors, Window Frames, Shutters), Type (Steel, Aluminum, Iron), End User (Residential, Commercial, Industrial) – Global Industry Growth Forecast to 2030

Market Overview

The global structural metal products market size was valued at $448.3 billion in 2021, which is expected to reach $764.0 billion by 2030, advancing at a CAGR of 6.1% during 2021–2030. The major factors driving the industry growth include the growing building and construction industry across the world. Moreover, the demand for these products is increasing because of their physical properties such as sustainability, cost-effectiveness, and resistance to mold and pests.

However, the market expansion may be hampered by fluctuating costs and a demand–supply gap in raw materials. Furthermore, significant investments required to construct structural metal manufacturing plants present a number of obstacles for manufacturing companies. Therefore, increasing investments in regions are expected to drive the market growth over the projection period.

Diversified Industrial Application Offers Ample Market Opportunities

Improving infrastructure in the transportation industry will provide the best market prospects. Metal liners, casings, culverts, plates, and bar joists are used extensively in the construction of highways, bridges, and railways. As a result, government support for highways and other transportation infrastructure helps businesses earn more money. Furthermore, highway financing from governments is likely to rise in the future, providing ample opportunities to businesses operating in this field. For example, the Indian government is expected to spend roughly $750 billion on railway infrastructure between 2018 and 2030.

Support and Structure Category Is the Highest Revenue Generator in the Market

The support and structure made up of steel, aluminum, and other metals held the largest revenue share, of more than 35%, in the structural metal products market in 2021. The demand for these products is expected to witness significant growth in the coming years because of their applications, such as modern skyscrapers, wherein metallic structures are used in ductwork, staircases, decking, and sheds. Moreover, fabricated metal structural beams and windows are preferable, as they are long-lasting, easy to handle, and fire-resistant.

Germany is the third-largest steel importer in the world and is the main hub of companies involved in fabricating metallic supports and structures for residential and commercial buildings. Thus, the country holds about one-third of the revenue generated in the industry in the European Union member states.

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Structural Steel Products Held the Largest Market Share

The sale of structural steel products generates the largest revenue in the market and has witnessed significant growth in recent years, as steel and other refractory materials are used in applications that function at high temperatures. Moreover, the demand for these products has been accelerated post-covid lockdown, as construction companies increasingly opted for customizable building materials for high-rise structures, apartments, and quarantine facilities, in the face of labor shortages due to the lockdown. Also, the construction companies opt for ready-to-use steel structures that can be assembled in a shorter span.

In China, the demand for steel structural products is increasing, due to the urban development; renovation of old residential areas; and intercity railways, expressways, and new building constructions, along with the supporting equipment and services.

However, the fabricated structural aluminum products will continue as critical building materials in infrastructure. Thus, the aluminum category is projected to grow at the highest pace during the forecast period in the structural metal products market. The aluminum metal and its alloys are lightweight, strong, durable, corrosion-resistant, and infinitely recyclable. The weight of aluminum structures is one-half to two-thirds of the weight of steel structures and up to one-seventh the weight of reinforced concrete structures with the same bearing capacity. Also, aluminum panels can be used in high-rise structures, ensuring greater energy and economic efficiency as compared to concrete and steel. Moreover, aluminum materials help build projects to qualify for green building status under the Leadership in Energy and Environmental Design (LEED) standards.

Demand for Structural Metal Products in Residential Buildings Is Highest in the Market

The consumption of structural metal products in the residential sector is the highest and is projected to witness the same trend during the forecast period as well. According to a report, China's real estate developers built 9,268 million square meters of floor space in 2020, which is about 4% more than the previous year. Similarly, Africa’s real estate sector is emerging and a huge investment can be seen by international developers in the region. Thus, the surging need for residential buildings will drive the demand for structural metal products in the coming years.

Moreover, in non-residential sectors, the market is expected to record significant growth in the near future. For instance, the Belt and Road Initiative (BRI) will have a dynamic impact on China's import and export of steel. The BRI countries have carried out extensive cooperation with China for the construction of infrastructures, such as roads, railways, and ports. The construction of these projects will increase the demand for these products.

North America Holds the Largest Share in the Market

The consumption of structural metal products in North America has risen in recent years. The demand for structural steel has reached more than 40 thousand tons. Multi-story residential construction, which includes hotels and dormitories, has grown significantly over the past five years and accounted for about 10% of the overall demand.

Structural steel is also used in non-building structures, which include open-air stadiums, process and chemical plants, power plants, petroleum refineries, and other buildings that do not have a roof. The other non-structural applications include rack systems, marine structures, trailers, transportation facilities, and mobile homes. Moreover, bridge structures are fabricated from plate steel. Thus, the market outlook has been driven by these infrastructure developments in the region.

Whereas, the APAC structural metal products market will grow at the highest rate during the forecast period. The countries like China, India, Japan, Indonesia, and Australia accounted for more than 40% of the regional market share in 2021. This is because of the huge infrastructure investment by regional government and private firms, rapid growth in urbanization, increase in household income, and surge in the construction sector in these nations. For instance, during 2019-2023, India plans to spend almost $1.4 trillion on infrastructure to have sustainable development in the country.

To Increase Market Share, Companies Involved in Various Strategic Developments

The market is highly fragmented, with the presence of several major players, which have been involved in strategic developments, such as acquisitions and geographical expansions, to stay ahead of their competitors. For instance:

• In December 2020, ArcelorMittal Construction signed an agreement with Llentab, a manufacturer and contractor for steel buildings, to acquire its Kungshamn panel production line in Sweden.
• In January 2022, Tata Steel Ltd. announced that its 74%-owned subsidiary Tata Steel Long Products Ltd. (TSLP) would acquire a 93.7% stake in Neelachal Ispat Nigam.

Top Manufacturers of Structural Metal Products Are:

• ArcelorMittal S.A.
• Hebei Group
• Baosteel Group Co.
• Nippon Steel & Sumitomo Metal Corporation
• Tata Limited
• Anshan Iron & Steel Group Corporation
• Anyang Group Co. Ltd.
• Baogang Group
• Alumin S.A.

Market Size Breakdown by Segment

The research offers the market size of the global structural metal products market for the period 2017–2030.

Based on Product

• Support and Structure
• Prefabricated Buildings
• Metal Doors
• Window Frames
• Shutters

Based on Type

• Steel
• Aluminum
• Iron
• Others

Based on End User

• Residential
• Commercial
• Industrial

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa