Product Code: PM5831
The global hot rolled coil steel market size is expected to reach USD 582.74 billion by 2034, according to a new study by Polaris Market Research. The report "Hot Rolled Coil Steel Market Size, Share, Trends, Industry Analysis Report By Thickness (Less Than or Equal to 3mm, Greater Than 3mm), By End Use, By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The hot rolled coil steel is a type of steel product created by heating steel slabs to very high temperatures, above their recrystallization point, and then passing them through rollers to reduce their thickness. After rolling, the steel is coiled for easy transport and storage. This process results in a strong, tough, and easily formable material that is cost-effective and crucial for various industrial applications where precise dimensions are not the primary concern.
The hot rolled coil steel market growth is significantly propelled by global economic conditions and industrial activity. The market is largely driven by demand from major end-use sectors such as construction and infrastructure, where it forms the backbone of structural elements. In the automotive industry, hot rolled coil steel is used for vehicle chassis and other components. Other important sectors include industrial equipment, shipbuilding, and energy. The market's overall outlook is shaped by trends in urbanization, industrialization, and technological advancements in steel production, including steel fiber and recycling.
Hot Rolled Coil Steel Market Report Highlights
By thickness, the greater than 3mm segment is anticipated to grow at a higher rate during the forecast period, due to its essential role in heavy-duty applications that demand high strength and durability. This includes its extensive use in constructing large infrastructure projects such as bridges and high-rise buildings, as well as in the manufacturing of heavy machinery.
By end use, the construction and infrastructure segment held the largest share in 2024. This is driven by significant global investments in urban development, residential and commercial building construction, and extensive transportation networks, all of which heavily rely on hot rolled coil steel for foundational and structural components.
Asia Pacific held the largest share of the global hot rolled coil steel market in 2024. This is primarily fueled by rapid industrialization, large-scale infrastructure development, and booming automotive industries in countries such as China and India, leading to immense demand and consumption of hot rolled coil steel across various applications.
A few key players in the market include Nippon Steel Corporation; ArcelorMittal; POSCO; China Baowu Group (China Baowu Steel Group Corporation Limited); HBIS Group (Hebei Iron and Steel Group Co., Ltd.); JFE Steel Corporation; Tata Steel Limited; Hyundai Steel Co., Ltd.; Shougang Group Co., Ltd.; Ansteel Group Corporation; ThyssenKrupp AG; United States Steel Corporation; Nucor Corporation; Gerdau S.A.; Jiangsu Shagang Group; and Jindal Steel & Power Ltd.
Polaris Market Research has segmented the hot rolled coil steel market report on the basis of thickness, end use, and region:
By Thickness Outlook (Revenue - USD Billion, 2020-2034)
Less than or equal to 3mm
Greater than 3mm
By End Use Outlook (Revenue - USD Billion, 2020-2034)
Construction & Infrastructure
Oil & Gas/Energy
Automotive
Industrial Equipment
Shipbuilding & Marine
Others
By Regional Outlook (Revenue - USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Hot Rolled Coil Steel Market Insights
- 4.1. Hot Rolled Coil Steel Market - Market Snapshot
- 4.2. Hot Rolled Coil Steel Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Construction and Infrastructure Development
- 4.2.1.2. Automotive Industry Growth
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Volatility in Raw Material Prices
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Hot Rolled Coil Steel Market Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Hot Rolled Coil Steel Market, by Thickness
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 5.3. Less than or equal to 3mm
- 5.3.1. Global Hot Rolled Coil Steel Market, by Less than or equal to 3mm, by Region, 2020-2034 (USD Billion)
- 5.4. Greater than 3mm
- 5.4.1. Global Hot Rolled Coil Steel Market, by Greater than 3mm, by Region, 2020-2034 (USD Billion)
6. Global Hot Rolled Coil Steel Market, by End-use
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 6.3. Construction & Infrastructure
- 6.3.1. Global Hot Rolled Coil Steel Market, by Construction & Infrastructure, by Region, 2020-2034 (USD Billion)
- 6.4. Oil & Gas / Energy
- 6.4.1. Global Hot Rolled Coil Steel Market, by Oil & Gas / Energy, by Region, 2020-2034 (USD Billion)
- 6.5. Automotive
- 6.5.1. Global Hot Rolled Coil Steel Market, by Automotive, by Region, 2020-2034 (USD Billion)
- 6.6. Industrial Equipment
- 6.6.1. Global Hot Rolled Coil Steel Market, by Industrial Equipment, by Region, 2020-2034 (USD Billion)
- 6.7. Shipbuilding & Marine
- 6.7.1. Global Hot Rolled Coil Steel Market, by Shipbuilding & Marine, by Region, 2020-2034 (USD Billion)
- 6.8. Others
- 6.8.1. Global Hot Rolled Coil Steel Market, by Others, by Region, 2020-2034 (USD Billion)
7. Global Hot Rolled Coil Steel Market, by Geography
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Hot Rolled Coil Steel Market Assessment, By Geography, 2020-2034 (USD Billion)
- 7.3. Hot Rolled Coil Steel Market - North America
- 7.3.1. North America: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.3.2. North America: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.3.3. Hot Rolled Coil Steel Market - U.S.
- 7.3.3.1. U.S.: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.3.3.2. U.S.: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.3.4. Hot Rolled Coil Steel Market - Canada
- 7.3.4.1. Canada: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.3.4.2. Canada: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4. Hot Rolled Coil Steel Market - Europe
- 7.4.1. Europe: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.2. Europe: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.3. Hot Rolled Coil Steel Market - UK
- 7.4.3.1. UK: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.3.2. UK: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.4. Hot Rolled Coil Steel Market - France
- 7.4.4.1. France: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.4.2. France: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.5. Hot Rolled Coil Steel Market - Germany
- 7.4.5.1. Germany: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.5.2. Germany: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.6. Hot Rolled Coil Steel Market - Italy
- 7.4.6.1. Italy: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.6.2. Italy: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.7. Hot Rolled Coil Steel Market - Spain
- 7.4.7.1. Spain: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.7.2. Spain: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.8. Hot Rolled Coil Steel Market - Netherlands
- 7.4.8.1. Netherlands: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.8.2. Netherlands: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.9. Hot Rolled Coil Steel Market - Russia
- 7.4.9.1. Russia: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.9.2. Russia: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.4.10. Hot Rolled Coil Steel Market - Rest of Europe
- 7.4.10.1. Rest of Europe: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.4.10.2. Rest of Europe: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5. Hot Rolled Coil Steel Market - Asia Pacific
- 7.5.1. Asia Pacific: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.2. Asia Pacific: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.3. Hot Rolled Coil Steel Market - China
- 7.5.3.1. China: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.3.2. China: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.4. Hot Rolled Coil Steel Market - India
- 7.5.4.1. India: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.4.2. India: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.5. Hot Rolled Coil Steel Market - Malaysia
- 7.5.5.1. Malaysia: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.5.2. Malaysia: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.6. Hot Rolled Coil Steel Market - Japan
- 7.5.6.1. Japan: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.6.2. Japan: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.7. Hot Rolled Coil Steel Market - Indonesia
- 7.5.7.1. Indonesia: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.7.2. Indonesia: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.8. Hot Rolled Coil Steel Market - South Korea
- 7.5.8.1. South Korea: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.8.2. South Korea: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.9. Hot Rolled Coil Steel Market - Australia
- 7.5.9.1. Australia: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.9.2. Australia: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.5.10. Hot Rolled Coil Steel Market - Rest of Asia Pacific
- 7.5.10.1. Rest of Asia Pacific: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.5.10.2. Rest of Asia Pacific: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.6. Hot Rolled Coil Steel Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.6.2. Middle East & Africa: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.6.3. Hot Rolled Coil Steel Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.6.3.2. Saudi Arabia: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.6.4. Hot Rolled Coil Steel Market - UAE
- 7.6.4.1. UAE: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.6.4.2. UAE: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.6.5. Hot Rolled Coil Steel Market - Israel
- 7.6.5.1. Israel: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.6.5.2. Israel: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.6.6. Hot Rolled Coil Steel Market - South Africa
- 7.6.6.1. South Africa: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.6.6.2. South Africa: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.6.7. Hot Rolled Coil Steel Market - Rest of Middle East & Africa
- 7.6.7.1. Rest of Middle East & Africa: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.6.7.2. Rest of Middle East & Africa: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.7. Hot Rolled Coil Steel Market - Latin America
- 7.7.1. Latin America: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.7.2. Latin America: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.7.3. Hot Rolled Coil Steel Market - Mexico
- 7.7.3.1. Mexico: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.7.3.2. Mexico: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.7.4. Hot Rolled Coil Steel Market - Brazil
- 7.7.4.1. Brazil: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.7.4.2. Brazil: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.7.5. Hot Rolled Coil Steel Market - Argentina
- 7.7.5.1. Argentina: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.7.5.2. Argentina: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
- 7.7.6. Hot Rolled Coil Steel Market - Rest of Latin America
- 7.7.6.1. Rest of Latin America: Hot Rolled Coil Steel Market, by Thickness, 2020-2034 (USD Billion)
- 7.7.6.2. Rest of Latin America: Hot Rolled Coil Steel Market, by End-use, 2020-2034 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Ansteel Group Corporation
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. ArcelorMittal
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. China Baowu Group (China Baowu Steel Group Corporation Limited)
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Gerdau S.A.
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. HBIS Group (Hebei Iron and Steel Group Co., Ltd.)
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Hyundai Steel Co., Ltd.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. JFE Steel Corporation
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Jindal Steel & Power Ltd.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Nippon Steel Corporation
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. POSCO
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Tata Steel Limited
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development