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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
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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

2. Executive Summary

3. Research Methodology

4. Global Hot Rolled Coil Steel Market Insights

5. Global Hot Rolled Coil Steel Market, by Thickness

6. Global Hot Rolled Coil Steel Market, by End-use

7. Global Hot Rolled Coil Steel Market, by Geography

8. Competitive Landscape

9. Company Profiles

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