The Cold Rolled Steel Coil Market is Predict to reach USD 192.8 Million by 2031, at a CAGR of 3.3%

18-Jul-2024 | Report Format: Electronic (PDF)

Cold Rolled Steel Coil Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Cold Rolled Steel Coil Market size is expected to reach $192.8 million by 2031, rising at a market growth of 3.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,58,498.32 tonnes, experiencing a growth of 22.6% (2020-2023).

The Half-hard segment is leading the Global Cold Rolled Steel Coil Market by Hardness in 2023; thereby, achieving a market value of $62.6 million by 2031. Half-hard cold-rolled steel coils are used in manufacturing kitchen appliances like ovens, stoves, and dishwashers due to their strength, formability, and corrosion resistance. In addition to being utilized in domestic appliances like washing machines, dryers, and refrigerators, half-hard cold-rolled steel coils are preferred for their durability and superior surface finish. Half-hard cold-rolled steel coils are used in the construction industry for making roofing and siding materials due to their strength, formability, and corrosion resistance.

Cold Rolled Steel Coil Market Size - By Region

The Construction segment is anticipating a CAGR of 3% during (2024 - 2031). Cold-rolled steel coils are used to manufacture roofing panels and sheets due to their strength, durability, and weather resistance. Siding panels and sheets are also manufactured from cold-rolled steel coils, which are renowned for their superior corrosion resistance and surface finish. Cold-rolled steel coils are used to construct drywall framing systems due to their strength, dimensional stability, and corrosion resistance.

Full Report: https://www.kbvresearch.com/cold-rolled-steel-coil-market/

The Asia Pacific market dominated the Global Cold Rolled Steel Coil Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $100 million by 2031. The North America market is registering a CAGR of 2.7% during (2024 - 2031). Additionally, The Europe market would showcase a CAGR of 3% during (2024 - 2031).