Profiled Steel Sheet Decking Market Industry
Profiled steel sheet decking is a popular construction material used for flooring and roofing in a wide range of buildings, from residential to commercial and industrial. The decking is made by cold-forming steel sheets into a specific profile that provides a strong and durable base for concrete, as well as a flat and level surface for walking and working.
Industry Overview: The global profiled steel sheet decking market has witnessed significant growth in recent years, driven by the increasing demand for sustainable and energy-efficient buildings, as well as the growth of the construction industry in emerging economies. According to a report by MarketsandMarkets, the global profiled steel sheet decking market was valued at $6.3 billion in 2020 and is projected to reach $9.6 billion by 2025, growing at a CAGR of 8.6% during the forecast period.
Market Dynamics: Several factors are driving the growth of the profiled steel sheet decking market, including:
- Increasing Demand for Sustainable Building Materials: Profiled steel sheet decking is a sustainable and eco-friendly building material that is widely used in green buildings. It is recyclable, energy-efficient, and reduces the carbon footprint of buildings, making it an attractive choice for builders and architects.
- Growth of the Construction Industry: The construction industry is one of the key drivers of the profiled steel sheet decking market. The growth of the industry, particularly in emerging economies, is fueling the demand for profiled steel sheet decking, as it is a cost-effective and durable solution for building floors and roofs.
- Advantages of Profiled Steel Sheet Decking: Profiled steel sheet decking offers several advantages over other building materials, including high load-bearing capacity, fire resistance, durability, and ease of installation. These advantages are driving the demand for profiled steel sheet decking in the construction industry.
- Increasing Urbanization: The increasing urbanization and the need for high-rise buildings are driving the demand for profiled steel sheet decking. These buildings require strong and durable flooring and roofing materials, and profiled steel sheet decking is an ideal choice for this purpose.
In conclusion, the profiled steel sheet decking market is expected to continue to grow in the coming years, driven by the increasing demand for sustainable building materials, the growth of the construction industry, the advantages of profiled steel sheet decking, and the increasing urbanization.
Profiled Steel Sheet Decking Market Competitive Landscape
The global profiled steel sheet decking market is highly competitive and fragmented, with several large and small players operating in the market. Some of the key players in the market include:
- Kingspan Group: Kingspan Group is a leading manufacturer of profiled steel sheet decking and other building materials. The company offers a wide range of profiled steel sheet decking products under the brand name KingFlor.
- Tata Steel: Tata Steel is one of the largest steel manufacturers in the world, and it offers a range of profiled steel sheet decking products under the brand name ComFlor.
- ArcelorMittal: ArcelorMittal is a global steel and mining company that produces a range of profiled steel sheet decking products under the brand name Cofraplus.
- Ruukki: Ruukki is a European manufacturer of steel and metal products, including profiled steel sheet decking, which it produces under the brand name Ruukki Forma.
- Corus Group: Corus Group is a steel manufacturer that produces profiled steel sheet decking under the brand name Holorib.
Other notable players in the market include Valmont Industries, NCI Building Systems, Kirby Building Systems, and Metecno.
The competition in the market is based on factors such as product quality, price, brand reputation, distribution channels, and customer service. The key players in the market are investing in research and development to improve the quality and durability of their products, as well as to introduce new and innovative products to meet the changing demands of customers.
In addition, the players in the market are adopting various strategies, such as mergers and acquisitions, partnerships, and collaborations, to expand their market presence and increase their customer base. For example, in 2018, Kingspan Group acquired Joris Ide, a European manufacturer of insulated panels and profiled steel sheet decking, to expand its market presence in Europe.
Profiled Steel Sheet Decking Market Analysis
The profiled steel sheet decking market is expected to witness significant growth in the coming years, driven by several factors, including the increasing demand for sustainable building materials, the growth of the construction industry, the advantages of profiled steel sheet decking, and the increasing urbanization.
The Asia-Pacific region is expected to dominate the profiled steel sheet decking market during the forecast period, owing to the growth of the construction industry and the increasing urbanization in countries such as China, India, and Indonesia. North America and Europe are also significant markets for profiled steel sheet decking, driven by the increasing demand for sustainable and energy-efficient buildings in these regions.
Based on product type, the market can be segmented into roof decking and floor decking. Floor decking is expected to dominate the market during the forecast period, owing to the increasing demand for strong and durable flooring materials in the construction industry.
Based on application, the market can be segmented into residential, commercial, and industrial. The commercial segment is expected to dominate the market during the forecast period, driven by the increasing demand for commercial buildings such as offices, malls, and hotels.
The key players in the market are adopting various strategies, such as mergers and acquisitions, partnerships, and collaborations, to expand their market presence and increase their customer base. In addition, the players in the market are investing in research and development to improve the quality and durability of their products, as well as to introduce new and innovative products to meet the changing demands of customers.
Overall, the profiled steel sheet decking market is expected to witness significant growth in the coming years, driven by the increasing demand for sustainable building materials and the growth of the construction industry in emerging economies.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Knox Market Research journalist was involved in the writing and production of this article.
