U.S. Coated Steel Market Size, Share & Trends Analysis Report By Product (Galvanized, Pre-painted), By Application (Building & Construction, Appliances, Automotive)- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The U.S. Coated Steel market size was valued at US$ 26.9 billion in 2021 and is expected to hit US$ 40.11 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030.

Key Takeaways:

• Based on product, galvanized held the largest revenue share of over 83.0% in 2021. The share is mainly attributable to galvanized steel’s ability to avert erosion, easy maintenance, and self-healing characteristics
• Based on application, building and construction dominated the market with a revenue share of over 43.0% in 2021. The growing construction activities in the U.S. and large-scale infrastructure projects are propelling product demand
• Based on region, Northeast U.S. is anticipated to register a CAGR of 7.10%, in terms of revenue, over the forecast period, on account of increasing construction of private homes in the region
• Increasing product demand as a lightweight material in industries including automotive and aerospace is propelling its production, thus, eventually benefitting market growth

Growth Factors:

Increasing demand for lightweight automotive parts coupled with a rising trend toward the aesthetic appearance of steel products is anticipated to drive market growth across the projected period.

Steel is coated with various materials such as zinc and tin to prevent it from corrosion and increase its life cycle. Coated steel is vastly used in applications where food safety, aesthetic appearance, and corrosion resistance are of vital significance. The product thus finds applications in construction, automotive, appliances, packaging, furniture, and many other industries.

Based on product, the market is segmented into galvanized, pre-painted, and others. Galvanized constituted the largest share in 2020 and is expected to maintain its dominance over the forecast period. The product owing to its characteristics is widely used for doors and windows. Benefits of steel profiles with galvanized coating are high structural characteristics, high strength, low coefficient of expansion, and modern as well as traditional designs.

Moreover, the growing significance of metal roofing in U.S. houses in extreme climates has propelled the demand for galvanized steel as it offers better and long-lasting performance. The benefits of installing a metal roof are easy installation, fire resistance, lightweight, and low heat conduction. These benefits are propelling demand for a metal roof in the U.S. and thus, are anticipated to positively influence galvanized steel consumption over the forecast period.

Growing demand product demand in the U.S. is attracting international players to set up new plants in the country. For instance, as of September 2021, Australia-based BlueScope is eyeing to construct a new steel painting and coating facility in the eastern U.S. to pursue downstream opportunities. Other players such as Nucor and Steel Dynamics Inc. are also planning to expand their production capacities.

Report Scope of the U.S. Coated Steel Market

Application Insights

Based on application, the building and construction segment accounted for the largest volume share of more than 43.0% in 2021. Steel is highly prone to rust, which eventually leads to corrosion. Thus, coated steel is used in the construction sector for piping, support beams, and air conditioning ducts. The building and construction application segment is further segmented into roofing, facades and sidings, decking, and others.

In the automotive segment, the product is preferred for its characteristics and low cost. The increasing prominence of lightweight materials for automotive manufacturing is expected to be the key catalyst for product demand. In addition, critical issues such as environmental pollution and corrosion propensity in coastal areas have augmented the use of coated steel in automobiles.

Other applications include furniture, packaging, and fabrications. The increasing demand for the product in metal furniture, food packaging, and steel fabrication is augmenting the market growth. Steel is extensively used in metal furniture. Its applications range from office furnishings to outdoor settings. It is used in producing hinges, slides, and body pieces.

Product Insights

Galvanized accounted for a revenue share of more than 82.0% in 2020. Galvanization is the most popular option for averting the erosion of steel. The product is obtained by coating steel sheets with zinc. Galvanized steel requires less maintenance and has a long life, which makes it preferable in residential homes. The growth of the U.S. housing construction market is thus, anticipated to further augment the segment growth over the forecast period.

Pre-painted steel finds application in construction, appliances, automotive, and container industries. It is used in metal roofing, garage doors, lighting fixtures, appliances, HVAC, refrigerator cabinets and doors, washing machines, freezers, coolers, microwaves, and dishwashers. Rising demand for consumer goods in the U.S. is anticipated to augment segment growth over the forecast period.

Other products include organic and tin-plated steel. Tin-plated steel is extensively used in producing containers and cans for processed food packaging applications. The U.S. is a major contributor to the global metal cans industry. The growth of the segment can thus, be attributed to the rising demand for metal cans from the packaged food industry.

Regional Insights

South U.S. held the largest revenue share of nearly 38.0% in 2021. The region has immense growth potential as various companies have announced to set up new offices as well as new manufacturing plants in the region, which is expected to propel product demand over the forecast period. For instance, in October 2020, GM announced to transform its plant in Spring Hill, Tennessee to build EVs.

Midwest U.S. held the second-largest revenue share of the market in 2021. The increasing number of infrastructure projects in the region is leading toward increased demand for coated steel. As of September 2021, some of the upcoming projects in the region include Hyperloop One / Midwest Connect, Project Tim Manufacturing Plant, and Golden Plains Technology Park.

The Northeast U.S. market is expected to expand at a CAGR of 5.5%, in terms of revenue, over the forecast period. The region witnessed a slump in construction activities in 2020 owing to the pandemic outbreak. According to the Real Estate Board of New York, New York City witnessed a 17% drop in terms of the number of proposed housing units from 2019 to 2020.

After the plummet in the first half of 2020, the construction sector in the Northeast is expected to recover with new projects. For instance, on January 1, 2021, the new Moynihan Train Hall for inter-city and local rail traffic opened in New York City. The project has 5,116 square meters of free-form steel and glass roof.

Key Companies & Market Share Insights

The major companies operating in the industry are primarily focused on capacity expansion and merger and acquisition. For example, in April 2021, Steel Dynamics Inc. announced to build four new flat-rolled coating lines in the U.S., which is expected to be worth an investment of USD 400 million. Two coating lines are anticipated to be built in the Southern U.S. whereas the other two in the Midwest. The coating lines will include a 300 kiloton galvanizing line with a Galvalume coating capability and a 240 kiloton paint line in both regions. Some of the prominent players operating in the U.S. coated steel market are:

• ArcelorMittal
• Cleveland-Cliffs Inc.
• Nippon Steel Corporation
• NLMK
• Nucor
• Salzgitter AG
• Steel Dynamics, Inc.
• United States Corporation
• voestalpine AG

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Product

• Galvanized
• Pre-painted
• Others
• By Application 
• Building & Construction
• Appliances
• Automotive
• Others
• By Regional
• U.S.

• Northeast
• Midwest
• West
• South

Key Points Covered in U.S. Coated Steel Market Study:

• Growth of U.S. Coated Steel in 2022
• Market Estimates and Forecasts (2017-2030)
• Brand Share and Market Share Analysis
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise
• Competition Mapping and Benchmarking
• Recommendation on Key Winning Strategies
• COVID-19 Impact on Demand for U.S. Coated Steel and How to Navigate
• Key Product Innovations and Regulatory Climate
• U.S. Coated Steel Consumption Analysis
• U.S. Coated Steel Production Analysis
• U.S. Coated Steel and Management