Curved Steel Market to Reach $5.7 Billion, Globally, by 2032 at 4.2% CAGR: Allied Market Research

The global curved steel market is driven by factors such as an increase in demand for infrastructure development and rise in need for new and improved infrastructure, such as highways, bridges, airports, and buildings.

PORTLAND, Ore., June 19, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Curved steel Market By method (Induction bending, Rotary draw & compression bending, Cold Bending, point bending & GAG pressing and Others), by Application (Bridges & ports, Underground construction, Stadium and arenas, Commercial buildings, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the curved steel market valued for $3.8 billion in 2022 and is estimated to reach $5.7 billion by 2032, exhibiting a CAGR of 4.2% from 2023 to 2032.

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Prime determinants of growth

The global curved steel market is driven by factors such as an increasing demand from the construction industry, as more architects are designing structures that incorporate curved steel sections whether they be angles, bars, beams, channels, tees, pipe, or tube. In addition, increased construction on bridges and ports will further boost the demand for curved steel. However, fluctuating prices of raw material will hinder the market growth.

Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$3.8 billion
Market Size in 2032	$5.7 billion
CAGR	4.2 %
No. of Pages in Report	279
Segments Covered	Method, Application, Region.
Drivers	Increased demand from the construction industry Surge in construction of bridges and ports
Opportunities	Increase in demand from commercial buildings
Restraints	Fluctuating price of raw materials

The rotary draw & compression bending to maintain its lead position during the forecast period.

Based on method, the rotary draw & compression bending segment accounted for the largest share in 2022, contributing to nearly two-fifths of the global curved steel market revenue, and is projected to rule the roost during the forecast period. Rotary bending machines have many advantages over conventional wipe-bending methods. The most advantageous feature is the simplicity of adjustment. Changes in the bend angle can be made simply by shimming or grinding the height of the assembly. However, the induction bending segment is estimated to cite the fastest CAGR of 4.6% from 2023 to 2032.

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The Commercial buildings maintain its lead position during the forecast period.

Based on application, the commercial buildings segment accounted for the largest share in 2022, contributing to nearly one-third of the global curved steel market revenue, and is projected to dominate the market during the forecast period. Owners and architects have increasingly incorporated curved steel in their designs for both functional and aesthetic reasons. Curved steel is found in roof supports, canopies, and circular stairs to name just a few applications. However, the stadiums and arenas segment would cite the fastest CAGR of 4.5% throughout the forecast timeframe.

Asia-Pacific to maintain its dominance by 2032.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifth of the global curved steel market and is projected to register the highest CAGR of 4.5% during the forecast period. This is attributed to numerous factors such as the flourishing construction industry, consistently developing economic status, and strengthening industrialization linked, which drive the growth of the Asia-Pacific market.

Leading Market Players: –

ESKATE
GERDAU S/A
OUTOKUMPU
ACERINOX
FUSTEEL CO., LTD.
ALBINA CO., INC.
UNION STEEL STRUCTURE MATERIAL CO., LTD.
CHICAGO METAL ROLLED PRODUCTS
BARNSHAWS
HUTA POKÓJ S.A

The report provides a detailed analysis of these key players in the global curved steel market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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