Global Sheet Steel Processing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Sheet Steel Processing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Sheet Steel Processing refers to the process of changing the original shape of steel plate to produce required parts and products. The completion of products usually includes many steps-from cutting and bending to surface treatment and assembly.

Market Overview:

The latest research study on the global Sheet Steel Processing market finds that the global Sheet Steel Processing market reached a value of USD 121732.0 million in 2022. It’s expected that the market will achieve USD 158974.0 million by 2028, exhibiting a CAGR of 4.55% during the forecast period.

Influence of COVID-19 Outbreak on Sheet Steel Processing Industry Development

Due to the particularity of the epidemic situation, governments and regions of various countries have introduced policies to restrict transportation. It is required to minimize travel, avoid crowds and reduce the spread of diseases. Different countries have different policies, cross-border trade is restricted, and the state controls import and export products more strictly, which increases the transportation time of steel products. These measures make it more difficult to transport steel products, especially import and export products. Many modes of transportation are affected and some modes of transportation are canceled. The seller can only change the mode of transportation and shorten the transportation time as much as possible. For example, some sellers change railway transportation to air transportation, and the air transportation price is about 4-5 times that of railway transportation, which increases the transportation cost of steel products. Therefore, the providers of Sheet Steel Processing services will naturally raise prices, which may reduce the demand of customers, thus affecting the development of the Sheet Steel Processing industry.
COVID-19 affects various manufacturing industries because it leads to workplace closure, supply chain disruption, and labor restriction. Many countries and regions around the world have imposed a blockade on this, resulting in the closure of production and manufacturing facilities in many industries. The revenue of the construction industry declines, which in turn adversely affects the Sheet Steel Processing market. During COVID-19, the supply chain of many manufacturing units was adversely affected, resulting in a significant drop in revenue and profits, which reduced the demand for Sheet Steel Processing. Therefore, the adverse development of the downstream market caused by COVID-19 will hinder the development of the Sheet Steel Processing industry.

Limitations

Raw materials and mechanical equipment will affect the development of the Sheet Steel Processing market. The sheet Steel Processing industry is greatly influenced by raw materials and mechanical equipment. In recent years, influenced by various factors, the price of Sheet Steel fluctuates greatly. The price increase of Sheet Steel will make many downstream demanders reduce their demand for steel, thus reducing their demand for Sheet Steel Processing. In addition, the uneven supply of raw materials in a specific location will not be conducive to the development of the Sheet Steel Processing market. At the same time, the lack of manufacturing equipment and low-quality product development will further limit the development of the Sheet Steel Processing market.
Sheet Steel Processing does not require high technology and innovation requirements, so the threshold for entering the industry is relatively low. As huge consumer demand brings high profits, it attracts many investors to enter the market. With more and more investors entering the Sheet Steel Processing market, the competition in this market is increasing. Those companies that already have loyal customers, mature teams, and a comprehensive understanding of customer needs, may be less affected. However, if the newly-entered company does not have a strong team, sufficient funds, and mature sales channels, it will be difficult to occupy a place in the market. Therefore, the fierce competitive pressure will make some enterprises eliminated from the market, which will adversely affect the development of the Sheet Steel Processing market.

At the same time, Sheet Steel Processing is also facing the competitive pressure of substitutes. There are many substitutes for Sheet Steel, which occupy a part of the market share, thus affecting the demand for Sheet Steel in downstream industries. The decrease in demand for Sheet Steel directly limits the growth of Sheet Steel Processing.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

Reliance is one of the major players operating in the Sheet Steel Processing market, holding a share of 3.66% in 2022.

Reliance began in 1939 as a rebar distributor in Los Angeles, California. Today, Reliance is a leading supplier of diversified metal solutions, providing value-added metal processing services, mainly providing metal processing and inventory management services. Reliance performs value-added processing such as cutting to length; Blanking; Cutting; Burn; Plasma combustion; Precision sawing of plates; Sawing; Wait for cutting service.

MDSSC, founded in 1988, is a leading high-end manufacturing supporting service enterprise in China's metalworking field. It has a full-process industrial chain including material processing, parts manufacturing and finished product manufacturing, and professional technical services.

Segmentation Overview:

Among different product types, Cutting/Bending segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Machinery segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Sheet Steel Processing market covered in Chapter 3:

Steel Warehouse
Samuel
Reliance
Kloeckner
MDSSC
China Beowu Steel Group Corp. Ltd.
Tata Steel Ltd.
Ryerson
TISCO
Worthington
HONGJI GROUP

In Chapter 4 and Chapter 14.2, on the basis of types, the Sheet Steel Processing market from 2018 to 2029 is primarily split into:

Decoiling
Cutting/Bending
Pickling
Slitting
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Sheet Steel Processing market from 2018 to 2029 covers:

Construction
Shipping
Energy
Packaging
Consumer appliances industry
Machinery
Automotive
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)