Structural Steel Market is estimated to be valued at USD 92.2 Mn in 2025 and is expected to reach USD 136.3 Mn in 2032, exhibiting a compound annual growth rate (CAGR) of 5.74% from 2025 to 2032.
The global structural steel market is witnessing consistent growth, led by increasing demand in infrastructure, commercial real estate, and industrial manufacturing sectors. Urbanization, increased investments in smart city developments, and worldwide efforts towards resilient and sustainable infrastructure are major drivers for this growth. The strength, flexibility, and affordability of structural steel make it a material of choice for high-rise structures, bridges, industrial facilities, and residential complexes.
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Green Steel Technology Advancements |
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UK Government’s Zero-Carbon Steel Plant Investment |
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According to a report from International Monetary Fund (IMF), in 2021, around 37 emerging countries accounted for 80% of the global population, and approximately 70% of the global gross domestic product (GDP) growth was generated through emerging economies. Agriculture, oil & gas, automotive, construction, manufacturing, and pharmaceutical industries are major industries that are witnessing strong demand. Thus, rapid industrialization will favor the market growth of structural steel.
A major advantage of using structural steel in construction is that 90% of all steel that's used in a structure can be recycled and reused. This means that no new material will be needed to build the structure, making it a very environmentally friendly way to create buildings.
Unlike wood and other materials, steel does not decompose when left in the ground for a long period of time. This makes it ideal for use in large outdoor structures, such as bridges and towers. It is a great material to work with as it is relatively easy to fabricate, and it can be shaped into just about any desired shape. This allows architects to design structures that they can't with other materials.
In 2024, the structural steel sector continued to prove its environmental stewardship through a number of impressive undertakings. A key illustration is the "Uniting on Second" affordable housing development in Adelaide, Australia. The $37 million complex, in which Kennett, UnitingSA, and Renewal SA joined forces, involves a 'material bank' system intended to record and recycle building materials such as steel beams and pre-cast concrete at the project's lifecycle completion.
Increasing use of structural steel over other construction materials is expected to provide significant growth opportunities. Often architects and contractors are using structural steel over other building materials, such as brick or wood because of the many benefits it offers.
The flexibility of steel allows architects to design structures that are not restricted by a traditional rectangular shape. It can be rolled, curved or integrated into irregular shapes and it is also relatively fast to fabricate, making it an excellent choice for projects that need to be completed quickly.
Growing number of partnership and acquisition in the market is expected to serve additional market opportunities for key players. For instance, in February 2022, Trimble announced that Zamil Steel, a global marketer in Engineering and manufacturing of various high-quality steel products and the Middle East’s premier supplier of Pre-Engineered steel buildings and structural steel products, has chosen its software, including Tekla PowerFab, to transform steel fabrication in its factories in India, Saudi Arabia, Egypt, and Vietnam.
Structural steel is fire-resistant and can withstand extreme temperatures. This makes it a safe building material that can be used in a variety of construction environments, from residential to commercial. Typical applications of structural steel include bridges, pylons, and other structures that support heavy weights. It is also a popular choice for energy efficient infrastructure such as oil and gas pipelines. Hence, growing trend of energy efficient infrastructure is propelling market growth.
The cost of producing structural steel is much lower than other building materials. This makes it an attractive option for building budgets, especially as it’s tensile and compression strengths mean that it can be used to create buildings with a high strength to weight ratio, which is the best way to reduce overall construction costs.
In 2024, the structural steel industry demonstrated its cost-effectiveness and long-term durability through several notable instances. For example, in India, steel prices declined by 3 to 5 percent due to increased supply from imports and a softening global steel market. This reduction in material costs contributed to a moderation in overall construction expenses, despite rising labor costs.
Due to its high strength and durability, steel structures are usually more expensive than other materials like engineered wood or concrete. This is because steel can be a costly material to transport and requires specialized knowledge for fabrication. Hence, high cost is a major factor restricting market growth.
Another major issue with structural steel is its inability to withstand the rigor of nature. Depending on where the steel structure is located, this can pose a problem if it is exposed to extreme weather conditions or even the presence of animals or insects. However, increasing industrialization and urbanization will open new avenue for the market growth.
Based on Application, the Infrastructure is expected to dominate the global market with 35% share over the forecast period. Structural steel is a common building material that is used to create strong and durable structures. Structural steel can be made into many different shapes, and it is typically used in the construction of high-rise buildings as well as other structures such as bridges and towers. Residential segment is also expected to witness significant growth in the near future and this is owing to the growing demand for high-rise residential buildings
Based on Type, the Hot-rolled Steel is expected to dominate the global market over the forecast period. They require less processing which makes them less expensive. They are ideal for applications where dimensional tolerances are less critical than total material strength is not a big problem. Cold-rolled Steel segment is also expected to witness significant growth in the near future and this is owing to their better dimensional and mechanical properties.
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Asia Pacific is estimated to hold the largest share of the global structural steel market over the forecast period. The region is expected to witness robust growth due to the rising population and government initiatives for improving housing conditions. In addition, the increase in infrastructure development is likely to boost the structural steel market growth.
China is the world's biggest producer and consumer of structural steel, and it produces more than half of the world's steel. Its vast infrastructure projects, urbanization, and robust manufacturing sector propel its dominance. China maintains influence over global prices and supply chains despite moves to curb overcapacity and emissions.
India is becoming a significant player in the structural steel industry, supported by government policies such as "Make in India" and huge infrastructure, railway, and housing investments. With expanding domestic demand and rising exports, India's steel sector will be a major force in world supply in the next few years.
The American structural steel industry is driven by investment in modernization of roads, bridges, and public buildings. In addition to emphasis on domestic production and environmentally friendly building practices, the American steel industry is turning towards Electric Arc Furnace (EAF) technology to cut emissions and enhance efficiency.
| Report Coverage | Details | ||
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| Base Year: | 2024 | Market Size in 2025: | USD 92.2 Mn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 5.74% | 2032 Value Projection: | USD 136.3 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Arcelormittal, Nippon Steel Corporation, Shougang, Tata Steel, Hyundai Steel, Anyang Iron & Steel Group Co., Ltd., British Steel, China Ansteel Group Corporation Limited, Emirates Steel, Evraz Plc, And Gerdau S/A |
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The global structural steel market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global structural steel market are Arcelormittal, Nippon Steel Corporation, Shougang, Tata Steel, Hyundai Steel, Anyang Iron & Steel Group Co., Ltd., British Steel, China Ansteel Group Corporation Limited, Emirates Steel, Evraz Plc, And Gerdau S/A
*Definition: Structural steel is the most commonly used building material across all areas of construction. It has many advantages over other materials such as concrete, wood and masonry, and it can be fabricated into an endless variety of shapes and sizes.
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About Author
Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.
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