According to the research report titled ‘Flat Steel Market Size By Product , By End-Use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report, global flat steel market is expected to register substantial growth during 2019-2026.
 

Widespread product adoption across automotive, building & automotive, and transport networks verticals along with robust technological advancements are major factors driving the growth of global flat steel market.
 

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It is worth mentioning the fact that flat steel products comprise of both steel plates as well as steel sheets which are usually developed using semi-finished steel slabs. The product is extensively used in various applications such as agriculture, shipbuilding, automobile, construction, and domestic appliances among others, which in turn is contributing towards worldwide flat steel market dynamics.
 

As per product type, the report states that non-metallic coated sheet & strip segment is expected to generate lucrative revenues for worldwide flat steel market in the forthcoming years, primarily due to its beneficial properties such as superior adhesion and better aesthetic appeal.
 

Meanwhile, tin plates segment is expected to grow with a CAGR of 3% through 2026. Tin-plates are cold-reduced, low-carbon and light sheet or strip of steel. It helps in improving the strength as well as formability of steel when merged with the material, while providing better aesthetics, weldability and corrosion resistance.
 

Tin is widely adopted in packaging industry since it consists of an exceptional printing surface. Moreover, it has a low melting point, possesses lubricant properties, and imparts good appearance. This allows it to be widely adopted in automotive applications such as brake line tubes, oil filters, and engine gaskets, thereby favoring global flat steel market size.
 

Citing the end-user landscape, worldwide flat steel industry share from transport network segment is expected to witness considerable growth during the forecast period, primarily due to consumer inclination towards using lightweight sheets and strips while producing automotive components.
 

Parallelly, the utilities segment accounted for 2.5% market share in the year 2018 and is set to record stellar growth in the ensuing years. The others segment, which comprise of domestic appliances and shipbuilding, presently accounts for 3.5% share in global flat steel industry. Flat steel offers high versatility as well as durability and hence, is widely adopted for manufacturing domestic appliances such as overs and refrigerators.
 

From the regional point of view, Middle East & Africa is expected to generate substantial revenues for global flat steel market in the upcoming years, primarily due to increasing automobile production.
 

Wuhan Iron & Steel Corporation, Allegheny Technologies Inc., Severstal JSC, Nucor Corporation, Gerdua S.A., Voestalpine AG, China Steel Corporation, ThyssenKrupp AG, Essar Group, Hyundai Steel Co. Ltd., Tata Steel Limited, ArcelorMittal S.A., Nippon Steel Corporation, and POSCO are the key participants in global flat steel market.