Hot-rolled Steel Coil Market: Introduction
- Hot rolling is a mill process that involves rolling of steel at a high temperature, which is above the recrystallization temperature of steel. The high-temperature steel is allowed to pass through one or more pairs of rolls to reduce its thickness or to make its thickness uniform i.e. to form coils. The process is much similar to rolling of dough.
- After grains deform during the processing, they recrystallize, which maintains an equi-axed microstructure and prevents the coil from work hardening. This is carried out in a gas- or oil-fired soaking pit for larger work pieces. For smaller work pieces, induction heating is used. When the material is processed, the temperature must be monitored to ensure that it remains above the recrystallization temperature.
- Hot-rolled steel coils generally have little directionality in their mechanical properties and deformation-induced residual stress
- Hot-rolled steel coils have a wider tolerance for the amount of included carbon than cold-rolled steel coils. Hence, these coils are more difficult to use. Moreover, in general, hot-rolled products are less costly than cold-rolled ones.
- Hot-rolled steel coils are widely used in truck frames, heavy machinery, large pipes and tubes, agricultural equipment, and metal building applications
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Key Drivers of Global Hot-rolled Steel Coil Market
- Increasing automation in various industries is likely to drive the global market for hot-rolled steel coils in the near future
- The automotive industry is likely to witness significant demand for steel coils during the forecast period. As per the OICA statistics, global sales of motor vehicles increased to 97 million units in 2017 from 85 million units in 2013.
- In July 2018, Big River Steel announced plans for expanding its Arkansas-based scrap recycling and flat steel production facility. The expansion would double the company’s annual production capacity for hot-rolled steel coils. In addition, the expansion would increase the company’s capacity to produce even higher grades of electric steel, the demand for which is expected to increase in the near future, with a continued focus on energy efficiency and increase in sales of electric vehicles (EVs) and hybrid electric vehicles (HEVs) across the world.
Asia Pacific to Lead Global Market for Hot-rolled Steel Coils
- In terms of region, the global hot-rolled steel coil market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific was a major contributor to the global hot-rolled steel coil market in 2018. The market in the region is projected to witness significant growth in the next few years, owing to growth of industrialization, increasing demand in the automobile sector, and rise in spending on infrastructure development in the region.
- Leading manufacturers of hot-rolled steel coils have extensive distribution networks, but their products witness limited penetration
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Key Manufacturers Operating in Global Hot-rolled Steel Coil Market
The global hot-rolled steel coil market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- China Baowu Steel Group
- Nippon Steel and Sumitomo Metal
- JFE Steel Corporation
- Ansteel Group
- Tata Steel
- Hesteel Group
- Nucor Corporation
- Benxi Steel Group
- Shagang Group
- NLMK Group
- JSW Steel Ltd
- Maanshan Steel
- United States Steel Corporation
- Jianlong Group
- Big River Steel LLC
- Valin Steel Group
- Steel Authority of RoW Limited
- China Steel Corporation
- Hyundai Steel
- Jingye Steel
- Anyang Group
Global Hot-rolled Steel Coil Market: Research Scope
Global Hot-rolled Steel Coil Market, by Product
- Hot-rolled Coils (Thickness Less than 3 mm)
- Hot-rolled Coils (Thickness Greater than 3 mm)
Global Hot-rolled Steel Coil Market, by End-use Application
Global Hot-rolled Steel Coil Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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