Hotrolled Steel Coil Market Research Report By Type (Cold Rolled, Hot Rolled, Galvanized), By Application (Automotive, Construction, Energy, Industrial Machinery), By End User (Manufacturing, Transportation, Consumer Goods), By Thickness (Less than 3mm, 3mm-6mm, Greater than 6mm), By Width (Less than 1250mm, 1250mm-1500mm, Greater than 1500mm) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Hotrolled Steel Coil Market Overview

The Hotrolled Steel Coil Market Size was estimated at 179.27 (USD Billion) in 2022. The Hotrolled Steel Coil Industry is expected to grow from 184.14(USD Billion) in 2023 to 234.56 (USD Billion) by 2032. The Hotrolled Steel Coil Market CAGR (growth rate) is expected to be around 2.72% during the forecast period (2024 - 2032).

Key Hotrolled Steel Coil Market Trends Highlighted

Key Market Drivers:

Mostly the rise in demands for construction, automotive, and manufacturing industries drives the Hot Rolled Steel Coil market. The increase in infrastructure development, particularly from emerging economies and growing demand for lightweight, durable materials, greatly boost the market’s growth. Moreover, the car industry is moving toward lighter vehicles as well and electric cars have augmented hot rolled steel coils’ demand.

Opportunities for Exploration:

This creates opportunities for exploration into corrosion-resistant high-strength steel coils. This suggests that they can be used in some industries like bridge construction, offshore structures and heavy-duty machinery. Additionally, the latest production techniques, such as ultra-high strength steel coils could shelter construction and automotive sectors against environmental pollution while improving on their sustainability prospects.

Recent Trends:The hot rolled steel coil market is recently marked by such trends as sustainable production, increasing use of recycled scrap steel and the inclusion of digital technologies in the production process. The attention to green issues is stimulating the use of energy-saving modes of production along with the use of renewable sources of energy. Furthermore, the adoption of IoT and automation in digital technology has improved efficiency levels and reduced costs involved in the manufacture.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Hotrolled Steel Coil Market Drivers

Increasing Demand from Automotive and Construction Sectors

Hotrolled steel coils are mainly used in the automotive sector and construction sectors, and the growth of these two sectors is expected to drive the demand for hotrolled steel coils. It is expected that the growth of the automotive sector will be driven by increased demand for vehicles and increased vehicle production, mainly from emerging markets. Hotrolled steel coils are used in a variety of applications in the automotive sector, including body panels, chassis, and suspension components.In the construction sector, hotrolled steel coils are used for a variety of applications, including structural applications. These include beams, columns, and reinforcing bars. In the future, we expect that the demand for hotrolled steel coils will be driven mainly by the automotive and construction sectors. The automotive sector is expected to be the major driver of the demand for hotrolled steel coils in the future. It is because the automotive industry is expected to grow at a CAGR of 2.5% during 2023-2032.This growth is driven mainly by the increased demand for the vehicle and the emerging markets, for example, in China and India. The construction sector is also expected to be a major driver of the demand for hotrolled steel coils. It is because the construction industry is expected to grow at a CAGR of 4.0% during 2023-2032. This growth is driven mainly by developments in terms of infrastructure development and urbanization.

Growth in Infrastructure Development

Another major factor that is driving the demand for hotrolled steel coils is the growth in infrastructure development. Hotrolled steel coils are predominantly used in a number of infrastructure products, which include bridges, roads, and railways. According to a report by Market Insights, the infrastructure market is expected to grow at a CAGR of 3.5% from 2023 to 2032. This growth in the market is being driven by the increasing investment in infrastructure development in emerging markets, such as China and India.

Technological Advancements

Technological advancements are also impacting the Hotrolled Steel Coil Market Industry. These advancements have also increased the efficiency of the production process and thus reduced its cost. Further, these advancements have also led to the development of innovative and new processes and usages of these products.

Hotrolled Steel Coil Market Segment Insights

Hotrolled Steel Coil Market Type Insights 

Type Segment Insights and Overview The type segment of the Hotrolled Steel Coil Market is further segmented into cold rolled, hot rolled, and galvanized types. In 2023, the hot rolled type segment dominated the Hotrolled Steel Coil Market with a revenue share of 55.2%. The cold rolled type segment is expected to grow at a CAGR of 2.9% over the forecast period, accounting for a share of 25.7% by 2032. This can be attributed to its superior strength and dimensional accuracy. Hot rolled steel coils are processed by rolling steel slabs at high temperatures, and they produce a thicker and less accurate finish.These types of steel coils are mostly used in construction, shipbuilding, and the automotive industries. Cold rolled steel coils are further rolled at room temperature and deliver a thinner and more accurate finish. This type of steel coil is preferred in applications requiring higher strength, such as appliances, furniture, and automotive parts. Galvanized steel coils, however, are coated with a layer of zinc to protect it from corrosion. These types of Hotrolled Steel Coils are most widely used in roofing, siding, and automotive applications, as they are durable and withstand harsh weather conditions.The galvanized type segment is expected to grow at a CAGR of 3.2% by the end of the forecast period, capturing a share of 20.54%. By 2032, the cold rolled type segment is expected to reach a valuation of USD 55.89 Billion in terms of revenue, and the hot rolled type segment would amount to USD 75.72 Billion. The galvanized type segment is anticipated to reach revenue of USD 42.95 Billion by the end of the forecast period. This subsidiary of the Hotrolled Steel Coil Market is mainly fueled by the increasing demand for countless uses in industries such as construction, automotive, and manufacturing.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Hotrolled Steel Coil Market Application Insights 

The application segment is crucial in determining the Hotrolled Steel Coil Market. Among the important application segments, Automotive, Construction, Energy and Industrial Machinery are the top segments. For vehicles, frames, body parts and critical components are manufactured from hotrolled steel coils. Due to the exponential increase in the number of vehicles on the road, the demand for lightweight vehicles and fuel-efficient vehicles, hotrolled steel coils requirement will also grow. Structural components and other interior parts are all made of hotrolled steel coils because of their longer life and increased durability.Hotrolled steel coils are used in the construction of pipeline storage tanks for oil, gas and other energy exploratory material. Hotrolled steel coils are used in innumerable gears, heavy vehicles, and parts of gear like hoists, jacks, and so on. With increased industrialization and globalization, the need for automation is rising; in turn, the hotrolled steel requirement will also proportionately increase. The Hotrolled Steel Coil Market will perform well in the coming years, driven by demand from these top application segments.

Hotrolled Steel Coil Market End User Insights 

The Hotrolled Steel Coil Market is segmented by End User into Manufacturing, Transportation, and Consumer Goods. The Manufacturing segment is expected to account for the largest share of the market in 2023, as hotrolled steel coils are used in a wide range of manufacturing applications, including automotive, construction, and machinery. The Transportation segment is expected to have the second-largest share of the market in 2023, driven by the growing demand for hotrolled steel coils in the automotive industry. The Consumer Goods segment is also expected to see significant growth in the coming years, as hotrolled steel coils are increasingly used in the production of consumer goods such as appliances and furniture.

Hotrolled Steel Coil Market Thickness Insights 

The Thickness segment is a crucial aspect of the Hotrolled Steel Coil Market, influencing market growth and industry dynamics. In 2023, the 'Less than 3mm' thickness category held a significant market share, driven by the high demand for thin and lightweight steel coils in various industries, including automotive, construction, and packaging. The '3mm-6mm' thickness segment is projected to exhibit steady growth over the forecast period, owing to its versatility and applicability in a wide range of structural and non-structural applications.The 'Greater than 6mm' thickness category is expected to witness a moderate growth rate, primarily driven by its usage in heavy-duty construction and shipbuilding industries. Overall, the Thickness segment offers valuable insights into the evolving needs and preferences of end-use industries, shaping the Hotrolled Steel Coil Market's growth trajectory.

Hotrolled Steel Coil Market Width Insights 

The Hotrolled Steel Coil Market segmentation by Width comprises Less than 1250mm, 1250mm-1500mm, and Greater than 1500mm. Among these, the 1250mm-1500mm segment held the largest market share in 2023. This can be attributed to the extensive utilization of coils within this width range in numerous industries, including automotive, construction, and shipbuilding. The Less than 1250mm segment is projected to exhibit significant growth during the forecast period due to rising demand from various end-use industries, such as consumer electronics and packaging.The Greater than 1500mm segment is anticipated to witness steady growth, primarily driven by increasing applications in large-scale infrastructure projects and industrial machinery. Overall, the Hotrolled Steel Coil Market is expected to expand at a stable CAGR during the forecast period, with each segment contributing to the overall market growth.

Hotrolled Steel Coil Market Regional Insights 

The Hotrolled Steel Coil Market is segmented regionally into North America, Europe, APAC, South America, and MEA. Among these regions, APAC accounted for the largest share of the market in 2023 and is projected to grow at a CAGR of 2.72% from 2023 to 2032. The growth of the APAC region is attributed to the increasing demand for hotrolled steel coils from the automotive, construction, and shipbuilding industries. North America and Europe are also expected to witness significant growth in the market during the forecast period due to the presence of major automotive and construction industries in these regions.South America and MEA are expected to grow at a moderate pace due to the increasing urbanization and industrialization in these regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Hotrolled Steel Coil Market Key Players And Competitive Insights

The dynamics of the Hotrolled Steel Coil Market are such that the major players of the industry are constantly investing in research and development to improve their production and product offerings. Moreover, these leading Hotrolled Steel Coil Market companies are focusing on promotions and investments to expand their market reach and client basis. Moreover, Hotrolled Steel Coil Market industry is marked by intense competition, and the leading players are making efforts to maintain their pole positions in the industry. Moreover, to maintain the lead, the companies are rationalizing strategies, improving Hotrolled Steel Coil Market product lines, creating new uses, entering into partnerships and developing the entire framework for the business. Hotrolled Steel Coil Market is driven by the increasing demand for steel in various industries such as construction, automotive, and manufacturing.ArcelorMittal, one of the leading players in the Hotrolled Steel Coil Market, is one of the market leaders because of its significant presence in the automotive, construction, and energy industries. Moreover, the company offers a wide variety of Hotrolled Steel Coil Market products to its customers and provides customization in its products as well. Moreover, its emphasis on sustainability and Hotrolled Steel Coil Market innovation has helped it maintain its position in the industry. Valeo, ArcelorMittal, and other vehicles recently announced the production of an electric engine with far-reaching effects, said Franois Mariotte. This motor, which is smaller than a conventional internal combustion engine, can quickly replace engines in any vehicle. It does, however, have a brake function. Another company that officially revealed its hot news this evening was Handynamic. Mr. Vegavaert, the first client, will receive this product. The company is Pricefallers. Nippon Steel Corporation, another prominent market player, is known for the superior quality of its steel products. Moreover, the company is primarily present in the automotive and construction industries in terms of customer groups. Furthermore, to maintain its position, Nippon Steel Corporation has concentrated on research and technological advancement and has created numerous Hotrolled Steel Coil Market solutions through the same effort.

Key Companies in the Hotrolled Steel Coil Market Include

• Voestalpine AG


• Nippon Steel Sumitomo Metal Corporation


• Gerdau


• China Baowu Steel Group


• POSCO


• JFE Steel


• Hyundai Steel


• Baosteel


• Tata Steel


• Salzgitter AG


• ArcelorMittal


• Nucor


• Severstal


• Steel Authority of India Limited


• Thyssenkrupp Steel Europe AG

Hotrolled Steel Coil Market Industry Developments

The Hotrolled Steel Coil Market is anticipated to grow at a CAGR of 2.72% from 2024 to 2032, reaching a valuation of USD 234.56 billion by 2032. The market growth is attributed to rising demand from the automotive, construction, and energy industries. The automotive sector is a major consumer of hotrolled steel coils, utilizing them in the production of vehicle frames, body panels, and other components. Increasing vehicle production, particularly in emerging markets, is expected to drive demand for hotrolled steel coils. The construction industry also represents a significant market segment, utilizing hotrolled steel coils for structural applications, roofing, and cladding. Growing urbanization and infrastructure development are expected to contribute to the demand for hotrolled steel coils in this sector.

Hotrolled Steel Coil Market Segmentation Insights 

Hotrolled Steel Coil Market Type Outlook

• Cold Rolled


• Hot Rolled


• Galvanized 

Hotrolled Steel Coil Market Application Outlook

• Automotive


• Construction


• Energy


• Industrial Machinery 

Hotrolled Steel Coil Market End User Outlook

• Manufacturing


• Transportation


• Consumer Goods 

Hotrolled Steel Coil Market Thickness Outlook

• Less than 3mm


• 3mm-6mm


• Greater than 6mm 

Hotrolled Steel Coil Market Width Outlook

• Less than 1250mm


• 1250mm-1500mm


• Greater than 1500mm

Hotrolled Steel Coil Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa