Agreements & Collaborations, Expansions, Mergers & Acquisitions, New Product Launches, and Partnerships are some of the Key Strategies Adopted by the Leading Companies in the Flat Steel Market

"Steel is an alloy that is primarily utilized in the construction industry. It serves to be fundamental component for developing various infrastructures, such as buildings, railway tracks, and roads. Steel products are mainly classified into flat steel and long steel products. Flat steel products are used in varied sectors, such as automotive, heavy machinery, and construction, among others. Key raw materials used for producing flat steel include thermal coke, coking coal, iron ore, steel scrap, and natural gas. Major companies operating in the flat steel market include ArcelorMittal (Luxembourg), POSCO (South Korea), Voestalpine AG (Austria), Essar Steel (India), ThyssenKrupp (Germany), United States Steel Corporation (U.S.), Nippon Steel & Sumitomo Metal Corporation (Japan), Allegheny Technologies Inc. (U.S.), SSAB (Sweden), Hyundai Steel Co., Limited (South Korea), Tata Steels Limited (India), SAIL (India), and Essar Steel (India), among others.

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Agreements & collaborations, expansions, mergers & acquisitions, new product launches, and partnerships are some of the key strategies adopted by the leading companies in the flat steel market. These companies have also been investing in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the market.



POSCO (South Korea) has been focusing on agreements & collaborations to strengthen its position in the flat steel market and is expanding its business in new geographies. This has helped the company to expand its global footprint and tap critically advantageous regions that are witnessing rapid growth in the flat steel market. In 2015, the company entered into a strategic agreement with Renault Samsung Motors to supply high quality materials for automobiles. In the same year, the company entered into a supply agreement with SsangYong Motor to supply new steel grades required for manufacturing new cars. In 2013, the company expanded its production facilities in China, Turkey, and Indonesia for manufacturing new grades of flat steels for automobiles and electronic applications.

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In 2015, ArcelorMittal (Luxembourg) held the largest share of 10.2% of the flat steel market, owing to its global presence and high revenue generated by the company’s steel business. The company majorly focuses on the strategy of agreements & collaborations to strengthen its position in the flat steel market. In 2016, ArcelorMittal entered into various agreements to supply plates and hot rolled sheets to MSC Meraviglia (Malta, Valletta), Osman Gazi Bridge (Turkey), and Royal Caribbean Cruises Ltd. Moreover, it also has entered into various agreements in 2015 to supply sheets and plates to Volkswagen (Germany), Baltic Sea Wind Farm, and Açú Port (Brazil).


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Market Leader - Isobutyl Stearate Market

Isobutyl Stearate (IBS) is an ester which is primarily used in metalworking, personal care, and other industrial activities. It is also used to improve the lubricity of different metals such as, copper, steel, and aluminum. The major companies operating in the global isobutyl stearate market are, Emery Oleochemicals (Malaysia), Oleon NV (Belgium), Faci S.p.A. (Italy), A&A Fratelli Parodi Spa (Italy), Industrial Química Lasem, SA (Spain), Hangzhou DayangChem Co.,Limited (China), and Mosselman S.a. (Belgium).

Some of the important strategies adopted by the key companies to strengthen their positions in the market are, new product launches, acquisitions, and capacity expansions. These companies are also investing in R&D activities to broaden their product portfolios and their positions in the isobutyl stearate esters market.

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Emery Oleochemicals (Malaysia), is the one of the major producers of isobutyl stearate. This company is a leading supplier of isobutyl stearate esters, used in metalworking, personal care, and other industrial activities. The company is actively focusing on strategic developments. For instance, in 2016, the company has announced the launch of dicarboxylic acid corrosion inhibitors under the brand EMEROX 1199. The company in 2015, in order to expand its capacity in bio-lubricants, completed a new project by establishing its Technical Development Centre at Cincinnati. The company has recently (in 2016) received the Certified Biobased Product Label from the United States Department of Agriculture (USDA) to increase its product portfolio with six products under the EMEROX range of renewable-based polyols.

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Oleon NV (Belgium) is a major player in the European region. The company has a broad product portfolio of isobutyl stearate esters which are used in metalworking, personal care, and other industrial applications. The isobutyl stearate esters produced by Oleon NV, are used as lubricity improvers for steel, copper, and aluminium rolling, and are also used for cutting, grinding, and drilling operations. The company is focusing on the development of the applications of isobutyl stearate. For instance, in 2016, Oleon NV launched a new brand JOLEE, under its health and beauty segment. In 2014, the company, with its partner United Plantations Bhd, commenced a new food emulsifier factory in Malaysia. This is operative under a 50:50 joint venture, UniOleon Sdn Bhd. The factory will produce food oleo-derivative products and is expected to strengthen the company’s presence in the bakery and confectionery industry.




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Flat Steel Market worth 757.15 Billion USD by 2026

The report "Flat Steel Market by Type (Sheets & Strips, Plates), End User (Building & Infrastructure, Automotive & Other Transport, Mechanical Equipment), and Region (Asia-Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2026", The flat steel market is projected to reach USD 757.15 Billion by 2026, at a CAGR of 6.7% from 2016 to 2026. Growth in the construction as well as the automotive industries has largely contributed to the increasing demand for flat steel across the globe.

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Key companies operating in the flat steel market include ArcelorMittal (Luxembourg), POSCO (South Korea), Voestalpine AG (Austria), Essar Steel (India), ThyssenKrupp (Germany), United States Steel Corporation (U.S.), Nippon Steel & Sumitomo Metal Corporation (Japan), Allegheny Technologies Inc. (U.S.), SSAB (Sweden), Hyundai Steel Co., Limited (South Korea), Tata Steel Limited (India), SAIL (India), and Essar Steel (India). These players with a wide market reach and established distribution network are investing more on research & development activities. They also have strong technical and market development capabilities, which enable them to upgrade their existing products for new applications.

On the basis of Type:

• Sheets & Strips
• Plates

On the basis of End User:

• Building & Infrastructure
• Automotive & Other Transport
• Mechanical Equipment
• Others

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Among end users, the building & infrastructure segment projected to lead the flat steel market between 2016 and 2026.

The building & infrastructure end user segment is leading the flat steel market in 2016, owing to extensive use of flat steel in the construction of buildings, railway tracks, roads, bridges, factories, and other engineering structures. Flat steel is used in the building & infrastructure sector as it offers design flexibility, high strength, and increased durability. It not only lowers construction costs, but also reduces long-term maintenance costs of buildings. Flat steel is used for developing infrastructure of the energy sector. It is used in oil & gas, nuclear, solar, wind, and hydro energy plants.

The sheets & strips type segment is projected to lead the flat steel market between 2016 and 2026.

The sheets & strips type segment is leading the flat steel market in 2016, owing to increasing use of flat steel sheets & strips in packaging applications as well in the manufacturing of home appliances. The sheets & strips made of flat steel are also used in the electronics industry. Moreover, flat steel sheets & films are also favorable for domestic usage as well as light applications, such as for manufacturing structures of domestic appliances. They are extensively used in varied applications for manufacturing door & window hoods, wall ornaments, refrigerators, steel drums, steel furniture, dry batteries, automobiles, washing machines, gutters, downspouts, and roof ornaments, among others.

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