Product Code: 29191
The Global Steel Plate Market was valued at USD 65,239.76 million in 2024 and is expected to reach USD 96,786.94 million by 2030, growing at a CAGR of 3.22% during the forecast period. The market is witnessing steady expansion, fueled by increasing demand from sectors such as construction, automotive, heavy machinery, and shipbuilding. Asia-Pacific dominates global production and consumption, with countries like China and India leading due to rapid industrialization, infrastructure growth, and government support for the steel industry. Steel plates are essential in structural frameworks, equipment manufacturing, and ship construction owing to their strength, versatility, and resilience. While the market outlook remains positive, challenges such as volatile raw material costs and environmental compliance requirements may affect growth trajectories. Nevertheless, ongoing urbanization, technological improvements, and rising demand in emerging economies continue to provide strong support for future market development.
Market Overview |
Forecast Period | 2026-2030 |
Market Size 2024 | USD 65,239.76 Million |
Market Size 2030 | USD 96,786.94 Million |
CAGR 2025-2030 | 3.22% |
Fastest Growing Segment | Direct |
Largest Market | Asia Pacific |
Key Market Drivers
Growth in Construction Industry
The expansion of the global construction industry significantly fuels the demand for steel plates, making it a key growth driver in this market. In 2024, the construction industry was valued at approximately USD 12 trillion, representing around 6% of global GDP. This highlights the sector's substantial economic influence. With ongoing urbanization, infrastructure modernization, and large-scale development projects across various countries, the need for durable construction materials is increasing. Steel plates are widely used in the construction of bridges, high-rise buildings, and public infrastructure due to their high strength, adaptability, and load-bearing capacity. Their ability to support large structures while ensuring structural integrity positions steel plates as a critical component in construction-related applications.
Key Market Challenges
Fluctuating Raw Material Prices
Price volatility in raw materials such as iron ore, coking coal, and scrap metal remains a major challenge for the global steel plate market. These materials are essential for steel production and are often subject to unpredictable price changes influenced by geopolitical conflicts, supply chain disruptions, demand fluctuations, and regulatory developments. Spikes in input costs increase operational expenses for manufacturers, which can reduce profitability or force price hikes that may deter buyers-particularly in cost-sensitive industries like construction and automotive. Such uncertainty complicates procurement planning and budgeting, ultimately affecting supply chain efficiency and market stability.
Key Market Trends
Rising Demand of Steel Plate in the Marine Industry
The marine sector is emerging as a key growth area for the steel plate market, driven by the industry's need for robust, corrosion-resistant materials suitable for shipbuilding and offshore structures. Accounting for over 80% of global trade volume, the maritime industry plays a crucial role in the global economy. Steel plates are fundamental in constructing vessels such as oil tankers, cargo ships, and offshore rigs due to their strength and durability in extreme oceanic environments. Technological advancements, including the Thermo-Mechanical Control Process (TMCP), have improved the performance of marine-grade steel plates, enabling lighter and more fuel-efficient vessels that comply with environmental regulations. These innovations are further supporting the sector's shift toward safer, more sustainable shipbuilding practices
Key Market Players
- Wugang Steel Group Co., Ltd
- Shandong Lenser Materials Co., Ltd
- Essar Steel India Limited
- AM/NS INDIA
- Hyundai Steel
- Jindal Steel and Power (JSP)
- NLMK
- DONGKUKSTEEL MILL CO., LTD
- China Steel Corporation
- Monnet Ispat & Energy Limited (MIEL)
Report Scope
In this report, the Global Steel Plate Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Steel Plate Market, By Sales Channel:
Steel Plate Market, By End Use:
- Construction & Infrastructure
- Automotive & Transportation
- Machinery & Equipment
- Shipbuilding
- Oil & Gas
- Others
Steel Plate Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Steel Plate Market.
Available Customizations
Global Steel Plate Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
3. Executive Summary
- 3.1. Overview of the Market
- 3.2. Overview of Key Market Segmentations
- 3.3. Overview of Key Market Players
- 3.4. Overview of Key Regions/Countries
- 3.5. Overview of Market Drivers, Challenges, and Trends
4. Impact of COVID-19 on Global Steel Plate Market
5. Global Steel Plate Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Sales Channel (Direct, Indirect)
- 5.2.2. By End Use (Construction & Infrastructure, Automotive & Transportation, Machinery & Equipment, Shipbuilding, Oil & Gas, Others)
- 5.2.3. By Region
- 5.2.4. By Company (2024)
- 5.3. Market Map
6. North America Steel Plate Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Sales Channel
- 6.2.2. By End Use
- 6.2.3. By Country
- 6.3. North America: Country Analysis
- 6.3.1. United States Steel Plate Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.2. Market Share & Forecast
- 6.3.1.2.1. By Sales Channel
- 6.3.1.2.2. By End Use
- 6.3.2. Mexico Steel Plate Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Sales Channel
- 6.3.2.2.2. By End Use
- 6.3.3. Canada Steel Plate Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Sales Channel
- 6.3.3.2.2. By End Use
7. Europe Steel Plate Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Sales Channel
- 7.2.2. By End Use
- 7.2.3. By Country
- 7.3. Europe: Country Analysis
- 7.3.1. France Steel Plate Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Sales Channel
- 7.3.1.2.2. By End Use
- 7.3.2. Germany Steel Plate Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Sales Channel
- 7.3.2.2.2. By End Use
- 7.3.3. United Kingdom Steel Plate Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Sales Channel
- 7.3.3.2.2. By End Use
- 7.3.4. Italy Steel Plate Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Sales Channel
- 7.3.4.2.2. By End Use
- 7.3.5. Spain Steel Plate Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Sales Channel
- 7.3.5.2.2. By End Use
8. Asia Pacific Steel Plate Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Sales Channel
- 8.2.2. By End Use
- 8.2.3. By Country
- 8.3. Asia Pacific: Country Analysis
- 8.3.1. China Steel Plate Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Sales Channel
- 8.3.1.2.2. By End Use
- 8.3.2. India Steel Plate Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Sales Channel
- 8.3.2.2.2. By End Use
- 8.3.3. South Korea Steel Plate Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Sales Channel
- 8.3.3.2.2. By End Use
- 8.3.4. Japan Steel Plate Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Sales Channel
- 8.3.4.2.2. By End Use
- 8.3.5. Australia Steel Plate Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Sales Channel
- 8.3.5.2.2. By End Use
9. South America Steel Plate Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Sales Channel
- 9.2.2. By End Use
- 9.2.3. By Country
- 9.3. South America: Country Analysis
- 9.3.1. Brazil Steel Plate Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Sales Channel
- 9.3.1.2.2. By End Use
- 9.3.2. Argentina Steel Plate Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Sales Channel
- 9.3.2.2.2. By End Use
- 9.3.3. Colombia Steel Plate Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Sales Channel
- 9.3.3.2.2. By End Use
10. Middle East and Africa Steel Plate Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1. By Sales Channel
- 10.2.2. By End Use
- 10.2.3. By Country
- 10.3. MEA: Country Analysis
- 10.3.1. South Africa Steel Plate Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Sales Channel
- 10.3.1.2.2. By End Use
- 10.3.2. Saudi Arabia Steel Plate Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Sales Channel
- 10.3.2.2.2. By End Use
- 10.3.3. UAE Steel Plate Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Sales Channel
- 10.3.3.2.2. By End Use
11. Market Dynamics
- 11.1. Drivers
- 11.2. Challenges
12. Market Trends & Developments
- 12.1. Merger & Acquisition (If Any)
- 12.2. Product Launches (If Any)
- 12.3. Recent Developments
13. Global Steel Plate Market: SWOT Analysis
14. Porters Five Forces Analysis
- 14.1. Competition in the Industry
- 14.2. Potential of New Entrants
- 14.3. Power of Suppliers
- 14.4. Power of Customers
- 14.5. Threat of Substitute Products
15. Competitive Landscape
- 15.1. Wugang Steel Group Co., Ltd
- 15.1.1. Business Overview
- 15.1.2. Company Snapshot
- 15.1.3. Products & Services
- 15.1.4. Financials (As Reported)
- 15.1.5. Recent Developments
- 15.1.6. Key Personnel Details
- 15.1.7. SWOT Analysis
- 15.2. Shandong Lenser Materials Co., Ltd
- 15.3. Essar Steel India Limited
- 15.4. AM/NS INDIA
- 15.5. Hyundai Steel
- 15.6. Jindal Steel and Power (JSP)
- 15.7. NLMK
- 15.8. DONGKUKSTEEL MILL CO., LTD
- 15.9. China Steel Corporation
- 15.10. Monnet Ispat & Energy Limited (MIEL)
16. Strategic Recommendations
17. About Us & Disclaimer