Cold Rolled Steel Segment to Dominate Hot and Cold Rolled India
Soaring demand for the automotive industry and high disposable income are expected to boost the Indian hot and cold rolled steel market during the forecast period.
According to TechSci Research Report, “India Hot and Cold Rolled Steel Market by Product (Hot Rolled Steel, Cold Rolled Steel), by Shape (Steel Plate, Steel Coil, Plate, Others) ), By Application (Automotive, Construction, Steel Pipe, Shipping, Machinery and Equipment, Industrial, Others), By Company, By Region, Forecast and Opportunity, FY2027F, ‘India Hot and Cold Rolled Steel Market is expected to experience steady growth over the next five years. Hot rolled steel is used for compression forming methods such as metal extrusion, rolling and forging because it requires less energy and force. The hot rolling process of steel is carried out at a temperature above the crystallization temperature of the material which is a temperature above 1000 Â° C. The starting material is usually steel slabs or steel billets. , then it is brought to rolling machines and the continuous rolling of the steel gives the desired shape in the form of sheets. Hot rolled steel forms easily without any additional delay due to the high temperature and is produced in large quantities compared to cold rolled steel. The price of hot rolled steel is lower than that of cold rolled steel. The hot rolled steel is then cooled to room temperature, resulting in higher ductility and toughness. Hot rolled steel shrinks during the cooling process, which leaves internal stress in metals leading to distortions and non-uniform growth. Hot-rolled steel is widely used in truck frames, pipes and tubes, railroads and car parts, doors and shelves, among others. Cold rolling of steel occurs below the crystallization temperature. As the recrystallization temperature process progresses, stress hardening occurs, which ensures that cold rolled steel has a higher yield strength. Cold rolled steel finds applications in various end user industries such as home appliances, water heaters, metal containers, fan blades, frying pans, computer cabinets, among others. The growing population of the country is driving the need to build more residential and commercial space, thus fueling the development of the construction industry over the next five years. Both hot and cold rolled steel are required for construction and infrastructure development, which is fueling market growth for the next five years.
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The Indian hot and cold rolled steel market is segmented into product, shape, application, regional distribution, and company. On the basis of shape, the hot and cold rolled steel market is divided into steel sheets, steel coils, plates, and others. The steel coil segment is expected to represent a major market share during the forecast period. The steel coil is a sheet supplied in the form of a coil. Depending on the production method, the steel coil is classified into hot rolled, cold rolled, galvanized or polymer coated coils. The increase in construction activities and machine building sectors is positively contributing to the growth of the hot and cold rolled steel market. Hot rolled steel coil is used to make shapes and profiles for construction and machine building as well as special purpose coils. The cold rolled steel coil is mainly used for construction, household appliances and automotive industry. Galvanized coil is used to make products with decorative coating and is in great demand in the automotive industry and construction. Polymer coated coiled steel is in high demand in the automotive, construction and consumer goods industries.
JSW Steel Ltd, Steel Authority of India Ltd., Essar Steel India Ltd., Jindal Steel & Power Ltd., Rashtriya Ispat Nigam Ltd. (RINL), Electrosteel Steel Ltd., Jindal Stainless Limited (JSL), Tata Steel Limited are the major players operating in the Indian hot and cold rolled steel market. Manufacturers are increasingly focusing on research and development processes to fuel higher market growth. To meet changing customer demands for efficiency and durability, several hot and cold rolled steel manufacturers are offering their state-of-the-art offerings.
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âThe demand for fuel-efficient automobiles due to the high carbon emissions of conventional vehicles is contributing to the increase in sales of electric vehicles and hybrid electric vehicles. Electric vehicles are cost effective compared to traditional vehicles which require hot rolled steel for the vehicle production process, thus fueling the growth of the hot and cold rolled market through 2026, âMr. Karan Chechi, Research Director at TechSci Research, a global research- management consulting company.
India Hot and Cold Rolled Steel Market by Product (Hot Rolled Steel, Cold Rolled Steel), by Shape (Steel Sheet, Steel Coil, Plate, Others), by Application (Automotive, Construction, Steel Pipe, Shipping, Machinery and Equipment, Industrial, Others), by Company, by Region, Forecast and Opportunity, FY2027F âassessed the future growth potential of India’s hot and cold rolled steel market and has provided statistics and information on market size, shares, structure and future market growth. The report aims to provide cutting edge market insights and help policymakers make sound investment decisions. Further, the report also identifies and analyzes the emerging trends as well as key drivers, challenges and opportunities in the Indian hot and cold rolled steel market.
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