Structural Steel Market Size, Share, Growth Analysis, By Application(Residential, Non-residential), By Product(Heavy Sectional Steel, Light Sectional Steel, and Rebar), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15O2025 | Region: Global | Published Date: April, 2024
Pages: 184 |Tables: 62 |Figures: 75

Structural Steel Market Insights

Global Structural Steel Market size was valued at USD 105.05 Billion in 2022 and is poised to grow from USD 110.83 Billion in 2023 to USD 170.09 Billion by 2031, at a CAGR of 5.5% during the forecast period (2024-2031).

The primary purpose of the global structural steel market is to fulfill the growing demand for reliable and robust construction materials. Structural steel offers numerous advantages, including high strength-to-weight ratio, cost-effectiveness, and sustainability. As a result, it is extensively used in the construction sector worldwide. The market serves as a platform for manufacturers to produce and supply structural steel products, while also meeting the diverse requirements of construction projects across different regions.

Several factors drive the growth of the global structural steel market. Firstly, the rapid urbanization and industrialization in emerging economies, such as India, China, and Brazil, have led to increased construction activities, thereby boosting the demand for structural steel. Secondly, the rising investment in infrastructure development projects, including roads, railways, and airports, further fuels the market growth. Moreover, the superior properties of structural steel, such as its ability to withstand extreme weather conditions and seismic events, contribute to its growing popularity in construction. Despite the positive outlook, the global structural steel market faces certain restraining factors. One significant factor is the volatility in raw material prices, particularly for iron ore and scrap metal. Fluctuations in these prices can significantly impact the overall production cost and profit margins for manufacturers. The structural steel market also encounters specific challenges. One of the major challenges is the competition from alternative construction materials, such as concrete and wood. The preference for these materials can vary based on factors like project specifications, cost considerations, and sustainability goals. Another challenge lies in the fragmented nature of the market, with numerous small and medium-sized manufacturers operating in different regions. This fragmentation often leads to intense price competition and the need for differentiation strategies to gain a competitive edge.

The global structural steel market presents several opportunities for growth and innovation. With the increasing focus on sustainable construction practices, there is a rising demand for green and energy-efficient steel products. Manufacturers can capitalize on this trend by developing eco-friendly steel variants and promoting their benefits. Furthermore, advancements in technology, such as computer-aided design (CAD) and building information modeling (BIM), provide opportunities for improved product design, precision, and optimization. The global structural steel market serves the purpose of meeting the demand for durable and versatile construction materials.

US Structural Steel Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 105.05 Billion

Largest Segment

Non-residential

Fastest Growth

Non-residential

Growth Rate

5.5% CAGR

Global Structural Steel Market ($ Bn)
Country Share for North America Region (%)

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Structural Steel Market Segmental Analysis

The global structural steel market is segmented on the basis of application, product, and region. By application, the market is segmented into residential, and non-residential. In terms of product, the market is segmented into Heavy Sectional Steel, Light Sectional Steel, and Rebar. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Structural Steel Market Analysis by Application

In 2023, the non-residential sector dominated the global structural steel market, accounting for over 54.0% of the total revenue. This segment is expected to exhibit the fastest compound annual growth rate (CAGR) during the forecast period. The growth can be attributed to the increased investments in various non-residential projects, including healthcare facilities, data centers, big-box retail stores, stadiums, airports, and manufacturing facilities. The non-residential segment can be further classified into industrial, commercial, offices, and institutional sub-segments.

The industrial sector holds the largest share in the non-residential segment. Structural steel finds extensive application in industrial buildings due to its exceptional strength, which not only ensures structural integrity but also mitigates the potential impact of repairs. Additionally, structural steel is well-suited for constructing large bridges due to its remarkable durability and excellent strength-to-weight ratio. This characteristic enables structural steel to withstand the weight of vehicles and pedestrians effectively.

Structural Steel Market Analysis by Product

Heavy sectional steel, characterized by its robustness and strength, holds the largest market share. It accounted for a significant portion of the overall revenue in the market, making it a cornerstone of the industry. This segment's dominance can be attributed to its extensive utilization in large-scale infrastructure projects and high-rise buildings. Heavy sectional steel possesses exceptional load-bearing capabilities, allowing it to provide the necessary structural integrity for such projects. Its ability to withstand heavy loads, extreme weather conditions, and seismic events makes it an ideal choice for architects and engineers around the world.

Rebar is the fastest growing segment in the global structural steel market. With a remarkable compound annual growth rate (CAGR), it continues to gain traction due to its vital role in reinforcing concrete structures. Rebar, short for reinforcing bar, is primarily used to enhance the strength and durability of concrete elements in construction projects. The growing focus on infrastructure development, including roads, bridges, and buildings, has contributed to the rising demand for rebar. As governments and private entities invest in modernizing and expanding their infrastructure, the need for sturdy and reliable structures becomes paramount. Rebar, with its ability to reinforce and fortify concrete, meets this demand perfectly.

Global Structural Steel Market By Application

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Structural Steel Market Regional Insights

North America holds the largest market share in the global structural steel market. This region has a well-established construction industry and a high demand for structural steel products. The dominance of North America can be attributed to several factors. Firstly, the region has witnessed substantial investments in infrastructure projects, including highways, bridges, and commercial buildings. The use of structural steel in these projects is widespread due to its superior strength, durability, and design flexibility. Secondly, the presence of major market players and advanced manufacturing facilities contributes to the region's dominance. Additionally, stringent building codes and regulations in North America emphasize the use of high-quality construction materials, further driving the demand for structural steel.

Asia Pacific is the fastest-growing market for structural steel. This growth is primarily driven by the rapid urbanization and industrialization in countries like China and India. The Asia Pacific region has experienced a significant increase in construction activities, including residential, commercial, and infrastructure projects. Structural steel is extensively used in these projects due to its cost-effectiveness, versatility, and ability to support large-scale constructions. Moreover, government initiatives and investments in infrastructure development, such as the Belt and Road Initiative in China and the Smart Cities Mission in India, contribute to the region's growth. These initiatives require robust and sustainable construction materials, making structural steel a preferred choice.

Global Structural Steel Market By Geography
  • Largest
  • Fastest

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Structural Steel Market Dynamics

Structural Steel Market Drivers

Infrastructure Investments

  • Governments and private entities worldwide increased their focus on infrastructure development, leading to substantial investments in construction projects. For instance, in the United States, the infrastructure bill passed in 2021 allocated significant funding towards upgrading and modernizing the country's infrastructure, including roads, bridges, and public buildings. Such investments drove the demand for structural steel as a vital construction material for these projects.

Urbanization and Industrialization

  • The rapid urbanization and industrialization in emerging economies created a surge in construction activities. Countries like China, India, and Brazil witnessed significant growth in residential and commercial construction, as well as infrastructure projects. For example, China's ambitious urbanization plans and the development of smart cities fueled the demand for structural steel. These trends resulted in increased consumption of structural steel for building high-rise apartments, commercial complexes, and industrial facilities.

Structural Steel Market Restraints

Raw Material Price Volatility

  • Fluctuations in the prices of raw materials, particularly iron ore and scrap metal, posed a significant challenge to the structural steel market. The volatile prices impacted the production costs for manufacturers, affecting profit margins. Factors such as supply-demand dynamics, geopolitical tensions, and market speculation influenced the raw material prices, creating uncertainty and potential financial constraints for market players.

Environmental Regulations

  • Stringent environmental regulations related to steel production and emissions presented challenges for the structural steel market. Governments and regulatory bodies imposed strict standards to reduce carbon emissions and promote sustainability in the construction sector. Compliance with these regulations required investment in eco-friendly technologies, energy-efficient processes, and emission reduction measures, adding additional costs and complexities for manufacturers.

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Structural Steel Market Competitive Landscape

The global structural steel market features a competitive landscape characterized by the presence of numerous key players, each striving to maintain a strong market position. These companies engage in various strategies, including mergers and acquisitions, collaborations, product innovations, and geographic expansions, to gain a competitive edge and capture a larger market share. companies, contribute to the competitive landscape of the global structural steel market. The industry's competitiveness is driven by factors such as product quality, technological advancements, sustainability practices, and global market reach. As the demand for structural steel continues to grow, companies in this market will continue to innovate and differentiate themselves to maintain their competitive positions and capitalize on emerging opportunities.

Structural Steel Market Top Player’s Company Profiles

  • ArcelorMittal (Luxembourg)
  • Nippon Steel Corporation (Japan)
  • Tata Steel Limited (India)
  • POSCO (South Korea)
  • Baosteel Group Corporation (China)
  • China Baowu Steel Group Corporation Limited (China)
  • Jiangsu Shagang Group Co., Ltd. (China)
  • JFE Steel Corporation (Japan)
  • Ansteel Group Corporation Limited (China)
  • United States Steel Corporation (US)
  • Thyssenkrupp AG (Germany)
  • Nucor Corporation (US)
  • HBIS Group Co., Ltd. (China)
  • Voestalpine AG (Austria)
  • Steel Authority of India Limited (India)
  • SSAB AB (Sweden)
  • Severstal (Russia)
  • Evraz (Russia)
  • Outokumpu Oyj (Finland)
  • British Steel (UK)

Structural Steel Market Recent Developments

  • In March 2023, Nippon Steel & Sumitomo Metal Corporation, Japan's largest steelmaker, announced plans to invest USD 1.5 billion in its structural steel business. The investment will be used to expand production capacity and develop new products.
  • In February 2023, China Steel Corporation, Taiwan's largest steelmaker, announced plans to invest USD 2.5 billion in its structural steel business. The investment will be used to expand production capacity and upgrade technology.
  • In January 2023, ArcelorMittal, the world's largest steelmaker, announced plans to invest USD 1 billion in its structural steel business. The investment will be used to expand production capacity and develop new products.

Structural Steel Key Market Trends

  • Sustainable Construction: The growing emphasis on sustainability and green construction practices had a significant impact on the structural steel market. Increasingly, architects, developers, and governments prioritized eco-friendly materials and designs. Structural steel manufacturers responded by developing sustainable steel variants, incorporating recycled content, and reducing carbon footprints. This trend aligned with the broader industry shift towards environmentally responsible construction practices.
  • Technological Advancements: The adoption of advanced technologies, such as computer-aided design (CAD), building information modeling (BIM), and robotics, revolutionized the structural steel industry. These technologies enhanced the precision, efficiency, and productivity of steel fabrication and construction processes. With CAD and BIM, designers and engineers could create intricate steel structures and optimize material usage. Robotics and automation improved manufacturing speed and quality, reducing human errors and enhancing overall productivity.

Structural Steel Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global structural steel market analysis, the market is experiencing steady growth and is driven by various factors. Structural steel is a vital construction material known for its strength, durability, and versatility. It finds extensive use in the construction of buildings, bridges, industrial facilities, and infrastructure projects. The market analysis reveals that the non-residential sector holds the largest market share due to increased investments in healthcare facilities, data centers, retail stores, stadiums, airports, and manufacturing facilities. This sector is further divided into industrial, commercial, offices, and institutional segments. Among these, the industrial sub-segment dominates, as structural steel is highly suitable for industrial buildings and large bridges due to its strength and durability.

The market is also influenced by drivers such as infrastructure investments and rapid urbanization, which spur construction activities. However, the market faces challenges such as price volatility of raw materials, particularly iron ore and scrap metal, and stringent environmental regulations. Despite these challenges, the market presents opportunities for growth, including the adoption of sustainable construction practices and technological advancements in steel fabrication. Overall, the global structural steel market is poised for expansion, driven by the increasing demand for robust and reliable construction materials in various sectors of the economy.

Report Metric Details
Market size value in 2023 USD 105.05 Billion
Market size value in 2031 USD 170.09 Billion
Growth Rate 5.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Residential, Non-residential
  • Product
    • Heavy Sectional Steel, Light Sectional Steel, and Rebar
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ArcelorMittal (Luxembourg)
  • Nippon Steel Corporation (Japan)
  • Tata Steel Limited (India)
  • POSCO (South Korea)
  • Baosteel Group Corporation (China)
  • China Baowu Steel Group Corporation Limited (China)
  • Jiangsu Shagang Group Co., Ltd. (China)
  • JFE Steel Corporation (Japan)
  • Ansteel Group Corporation Limited (China)
  • United States Steel Corporation (US)
  • Thyssenkrupp AG (Germany)
  • Nucor Corporation (US)
  • HBIS Group Co., Ltd. (China)
  • Voestalpine AG (Austria)
  • Steel Authority of India Limited (India)
  • SSAB AB (Sweden)
  • Severstal (Russia)
  • Evraz (Russia)
  • Outokumpu Oyj (Finland)
  • British Steel (UK)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Structural Steel Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Structural Steel Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Structural Steel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Structural Steel Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Structural Steel Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Structural Steel Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Structural Steel Market size was valued at USD 105.05 Billion in 2022 and is poised to grow from USD 110.83 Billion in 2023 to USD 170.09 Billion by 2031, at a CAGR of 5.5% during the forecast period (2024-2031).

The structural steel market features a competitive landscape characterized by the presence of numerous key players, each striving to maintain a strong market position. These companies engage in various strategies, including mergers and acquisitions, collaborations, product innovations, and geographic expansions, to gain a competitive edge and capture a larger market share. companies, contribute to the competitive landscape of the structural steel market. The industry's competitiveness is driven by factors such as product quality, technological advancements, sustainability practices, and market reach. As the demand for structural steel continues to grow, companies in this market will continue to innovate and differentiate themselves to maintain their competitive positions and capitalize on emerging opportunities. 'ArcelorMittal (Luxembourg)', 'Nippon Steel Corporation (Japan)', 'Tata Steel Limited (India)', 'POSCO (South Korea)', 'Baosteel Group Corporation (China)', 'China Baowu Steel Group Corporation Limited (China)', 'Jiangsu Shagang Group Co., Ltd. (China)', 'JFE Steel Corporation (Japan)', 'Ansteel Group Corporation Limited (China)', 'United States Steel Corporation (US)', 'Thyssenkrupp AG (Germany)', 'Nucor Corporation (US)', 'HBIS Group Co., Ltd. (China)', 'Voestalpine AG (Austria)', 'Steel Authority of India Limited (India)', 'SSAB AB (Sweden)', 'Severstal (Russia)', 'Evraz (Russia)', 'Outokumpu Oyj (Finland)', 'British Steel (UK)'

Governments and private entities worldwide increased their focus on infrastructure development, leading to substantial investments in construction projects. For instance, in the United States, the infrastructure bill passed in 2021 allocated significant funding towards upgrading and modernizing the country's infrastructure, including roads, bridges, and public buildings. Such investments drove the demand for structural steel as a vital construction material for these projects.

Sustainable Construction: The growing emphasis on sustainability and green construction practices had a significant impact on the structural steel market. Increasingly, architects, developers, and governments prioritized eco-friendly materials and designs. Structural steel manufacturers responded by developing sustainable steel variants, incorporating recycled content, and reducing carbon footprints. This trend aligned with the broader industry shift towards environmentally responsible construction practices.

North America holds the largest market share in the structural steel market. This region has a well-established construction industry and a high demand for structural steel products. The dominance of North America can be attributed to several factors. Firstly, the region has witnessed substantial investments in infrastructure projects, including highways, bridges, and commercial buildings. The use of structural steel in these projects is widespread due to its superior strength, durability, and design flexibility. Secondly, the presence of major market players and advanced manufacturing facilities contributes to the region's dominance. Additionally, stringent building codes and regulations in North America emphasize the use of high-quality construction materials, further driving the demand for structural steel.

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