1. What is the projected Compound Annual Growth Rate (CAGR) of the Hot-Rolled Coils (HRC)?
The projected CAGR is approximately 3.3%.
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Hot-Rolled Coils (HRC) by Application (Construction, Transport, Energy, Machinery, Others), by Type (≥3mm), by North America (United States, Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, Rest of Middle East & Africa), by Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2025-2033
The global hot-rolled coils (HRC) market is projected to reach a value of $251.1 million by 2033, exhibiting a CAGR of 3.3% during the forecast period (2023-2033). The growth in the market can be attributed to the increasing demand from the construction, transport, energy, and machinery industries. Construction remains the dominant application segment, owing to the ongoing urbanization and infrastructure development projects across various regions.
Currently, the market is witnessing a few restraining factors such as geopolitical uncertainties, fluctuations in raw material prices, and the rising popularity of cold-rolled coils in certain applications. However, the growing focus on sustainability and the adoption of advanced technologies are anticipated to create lucrative opportunities for market expansion in the future. Key market players include ArcelorMittal, China Baowu Steel Group, Nippon Steel & Sumitomo Metal, JFE Steel Corporation, and Ansteel Group, among others.
Hot-rolled coils (HRC) are a type of flat steel that is produced by rolling hot-rolled steel slabs through a series of rolls. HRC is used in a variety of applications, including the construction, automotive, and appliance industries. The global HRC market is expected to grow at a CAGR of 3.5% from 2021 to 2028, reaching a value of USD 265 billion by the end of the forecast period.
The growth of the HRC market is being driven by a number of factors, including:
Despite the strong growth potential, the HRC market is also facing a number of challenges, including:
The Asia-Pacific region is the largest market for HRC, accounting for over 60% of global demand. China is the largest consumer of HRC in the Asia-Pacific region, followed by India and Japan. The construction industry is the largest consumer of HRC in the Asia-Pacific region, followed by the automotive industry.
In terms of application, the construction industry is the largest consumer of HRC, accounting for over 50% of global demand. The automotive industry is the second largest consumer of HRC, accounting for over 20% of global demand. The appliance industry is the third largest consumer of HRC, accounting for over 10% of global demand.
A number of factors are expected to drive the growth of the HRC market in the coming years, including:
The global HRC market is dominated by a few large players, including:
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 3.3% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research

Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 3.3%.
Key companies in the market include ArcelorMittal, China Baowu Steel Group, Nippon Steel & Sumitomo Metal, JFE Steel Corporation, Ansteel Group, Tata Steel, Hesteel Group, POSCO, Nucor Corporation, Benxi Steel Group, Shougang, Shagang Group, NLMK Group, ThyssenKrupp, JSW Steel Ltd, Maanshan Steel, United States Steel Corporation, Jianlong Group, Valin Steel Group, Steel Authority of India Limited, China Steel Corporation, Hyundai Steel, Jingye Steel, Gerdau, .
The market segments include Application, Type.
The market size is estimated to be USD 251.1 million as of 2022.
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The market size is provided in terms of value, measured in million and volume, measured in K.
Yes, the market keyword associated with the report is "Hot-Rolled Coils (HRC)," which aids in identifying and referencing the specific market segment covered.
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