PUBLISHER: The Business Research Company | PRODUCT CODE: 1409201
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409201
“Architectural And Structural Metals Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on architectural and structural metals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for architectural and structural metals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The architectural and structural metals market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Architectural and structural metals play a crucial role in construction by providing high-quality and well-designed components that contribute to the structural integrity of buildings. These metals are essential for holding a building together and ensuring its stability.
The primary categories of architectural and structural metals include plate work and fabricated structural products, as well as ornamental and architectural metal products. Plate work and fabricated structural products are designed to produce iron, steel, or other metals for use in various structures. These products find applications in construction, manufacturing, and other relevant industries.
The architectural and structural metals market research report is one of a series of new reports from The Business Research Company that provides architectural and structural metals market statistics, including architectural and structural metals industry global market size, regional shares, competitors with architectural and structural metals market share, detailed architectural and structural metals market segments, market trends, and opportunities, and any further data you may need to thrive in the architectural and structural metals industry. This architectural and structural metals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The architectural and structural metals market size has grown strongly in recent years. It will grow from $600.05 billion in 2023 to $633.7 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to factors such as increased construction and infrastructure development, urbanization and population growth, industrial and commercial construction projects, evolving architectural trends, and government investments in infrastructure.
The architectural and structural metals market size is expected to see strong growth in the next few years. It will grow to $774.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to factors such as the adoption of sustainable construction practices, increased focus on renewable energy projects, advancements in smart building technologies, global urbanization trends, and infrastructure resilience and upgrades. Major trends in the forecast period include a focus on building information modeling (BIM), energy-efficient building envelopes, urbanization and infrastructure development, the use of recycled and upcycled metals, and the influence of global architectural trends.
The growth in the construction sector is projected to drive the architectural and structural metals market expansion. Construction encompasses the creation, modification, repair, or demolition of infrastructure. This industry heavily relies on architectural and structural metals due to their corrosion resistance, ductility, and lightweight nature, ensuring durable and impressive buildings. Notably, in 2021, global construction output surged by 6.6%, and estimates suggest a 35% increase by 2030, reaching a cumulative value of $135 trillion, reinforcing the impetus behind the architectural and structural metals market.
The anticipated rise in disposable income is set to elevate the architectural and structural metals market. Disposable income signifies the money available for spending and saving after tax deductions for individuals or households. An upsurge in disposable income typically spurs construction and infrastructure projects, directly benefiting the architectural and structural metals market due to their crucial role in modern construction practices. For instance, in May 2022, reports from the Bureau of Economic Analysis indicated a $113.4 billion (0.5%) monthly increase in personal income, with disposable personal income (DPI) rising by $96.5 billion (0.5%). This income surge is a driving force for the architectural and structural metals market growth.
Technological advancements represent a prominent trend shaping the architectural and structural metals market. Key market players prioritize technological innovation to bolster their market standing. Notably, in December 2022, CYPE, a Spain-based firm specializing in technical software for architecture, engineering, and construction professionals, introduced StruBIM Steel. This innovative tool streamlines the creation of structural steel detailing drawings, specifically designed for building information models (BIM) in steel detailing. It efficiently generates fabrication-ready structural drawings with a single click, allowing for direct delivery to fabrication workshops. This development facilitates ongoing revision and updates for fabrication and assembly drawings, showcasing the technological advancements in the industry.
Leading enterprises within the architectural and structural metals sector are pioneering inventive solutions such as galvalume materials to tap into broader customer segments, enhance sales, and drive revenue growth. Galvalume, a steel variant coated with aluminum and zinc, exemplifies this innovation. In October 2023, the collaboration between United States Steel Corporation and DuPont de Nemours Inc. unveiled COASTALUME, a product explicitly engineered for coastal applications. This breakthrough amalgamates U. S. Steel's robust GALVALUME material with DuPontTM Tedlar PVF film, showcasing unparalleled resilience against saltwater corrosion, UV damage, impacts, and more. This maintenance-free roofing solution, adept at enduring coastal conditions, addresses a critical need in both residential and commercial construction. The incorporation of Tedlar film directly onto the steel coil ensures color longevity, even under prolonged sun exposure, setting a new benchmark for durability in coastal environments.
In November 2022, Clover Architectural Products, a prominent provider of architectural construction materials in the United States, completed the acquisition of American Custom Metal Corp., an undisclosed transaction. This strategic move integrates Clover's resources with American Custom Metal's expertise as a specialized architectural metal fabricator based in the US. This acquisition positions Clover to expand its market presence and fortify its product portfolio, leveraging the combined strengths of both entities to offer enhanced architectural solutions to its clientele.
Major companies operating in the architectural and structural metals market report are NCI Building Systems Inc., Gibraltar Industries Inc., Valmont Industries Inc., Arconic Inc., Nucor Corporation, United States Steel Corporation, ArcelorMittal SA, China Baowu Steel Group, JFE Steel Corporation, Nippon Steel Corporation, Tata Steel Ltd., Larson Manufacturing Company Inc., Jeld Wen Inc., Defiance Metal Products Co., TrueNorth Steel Inc., DuraVent Inc., Worthington Industries Inc., Steel Dynamics Inc., AK Steel Holding Corporation, Carpenter Technology Corporation, Allegheny Technologies Incorporated, Commercial Metals Company, Reliance Steel & Aluminum Co., Mueller Industries Inc., The Timken Company, Olympic Steel Inc., Universal Stainless & Alloy Products Inc., A.M. Castle & Co., Ryerson Holding Corporation, Schnitzer Steel Industries Inc
North America was the largest region in the architectural and structural metals market in 2023. The regions covered in the architectural and structural metals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the architectural and structural metals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The architectural and structural metals market consists of sales of steel, aluminum, and copper. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.