Rectangular hollow section steel market Size
In a rectangular hollow section, zinc-coating covers the entire surface. It comes in a variety of wall heights and thicknesses and is widely used in frame manufacturing, in commercial and domestic construction, and in handyman gate and posting projects where rust resistance is necessary and thus is expected to dominate the market. Stainless steel tube is easy to recycle. Many projects benefit from Rectangular steel tubing, including all building types, highway guardrails and signage, column support, trusses, bridges, heavy equipment, storage systems, and exercise equipment. When combined with the appropriate steel grade, a wide range of dimensions ensure that the structure's functionality and cost-efficiency can be optimized.
Market Highlights
Rectangular hollow section steel market size was registered at USD XX billion in 2019 and is estimated to reach USD XX billion by 2030, registering a CAGR of XX% from 2020 to 2030
In a rectangular hollow section, zinc-coating covers the entire surface. It comes in a variety of wall heights and thicknesses and is widely used in frame manufacturing, in commercial and domestic construction, and in handyman gate and posting projects where rust resistance is necessary and thus is expected to dominate the market. A common option for mechanical, structural, and construction applications is the rectangular hollow sections. This is due to the flat surface resulting in a more economical structural solution for joining and other manufacturing works of different forms. Due to the rectangular shape of this type of hollow part, sections can be cut straight when joining to other flat surfaces. RHS requires minimal edge planning for welding or joining. Due to clean lines alongside structural strength, the rectangular hollow section can also be used for architectural aesthetics. Many projects benefit from Rectangular steel tubing, including all building types, highway guardrails and signage, column support, trusses, bridges, heavy equipment, storage systems, and exercise equipment.
Source: Fatpos Global
Rectangular hollow section steel market: Segments
The Rectangular hollow section steel market is segmented based on type, application, and region.
By type (in %), Rectangular hollow section steel market, 2019
By type, the market can be segmented into welded Rectangular hollow section and seamless Rectangular hollow section.
By application (in %), Rectangular hollow section steel market, 2019
The construction segment accounted for XX% of the nation’s volume in 2019
The application segment can be classified into agricultural, construction, general engineering, mechanical application, and others. Urbanization and construction provide strong demand for long steel products including bars and parts, while manufacturing industry development provides demand for flat products such as hot and cold rolled coils and stainless steel, which is likely to have a positive impact on the market share of structural steel. Thus, the construction segment is expected to dominate the application segment.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
Rectangular hollow section steel market Dynamics:
Increasing constructional activities and government initiatives to increase the market growth
In a rectangular hollow section, zinc-coating covers the entire surface. It comes in a variety of wall heights and thicknesses and is widely used in frame manufacturing, in commercial and domestic construction, and in handyman gate and posting projects where rust resistance is necessary and thus is expected to dominate the market. A common option for mechanical, structural, and construction applications is the rectangular hollow sections. This is due to the flat surface resulting in a more economical structural solution for joining and other manufacturing works of different forms. Due to the rectangular shape of this type of hollow part, sections can be cut straight when joining to other flat surfaces. RHS requires minimal edge planning for welding or joining. Due to clean lines alongside structural strength, the rectangular hollow section can also be used for architectural aesthetics. Many projects benefit from Rectangular steel tubing, including all building types, highway guardrails and signage, column support, trusses, bridges, heavy equipment, storage systems, and exercise equipment.
Costly and fireproof treatment along with outdoor corrosion to hinder the market growth
Structural steel requires costly, fireproof treatment and is susceptible to corrosion in outdoor environments. This can somewhat hamper the growth of the industry.
Rectangular hollow section steel market: Regions
In terms of value and volume, APAC accounted for XX% of total market volume share in 2019
Growing residential construction worldwide due to increasing income levels and urbanization in the APAC region has led to increased building projects. Builders rely on the quality of the construction materials to create a solid building foundation. Increasing use of the product in the construction of residential buildings will have a positive impact on market trends in Rectangular hollow section steel.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
Rectangular hollow section steel market is further segmented by region into:
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North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Rectangular hollow section steel market: Competitive landscape
In order to broaden their product range and increase their regional presence, manufacturers are involved in product launches, developments, and collaborations along with support from government regulations, which may enable acquiring firms to leverage the long-term steel market.
Rectangular hollow section steel market: Key players
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Arcelor Mittal
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Nippon Steel and Sumitomo Metal Corporation
- Hebei Steel Group
- Baosteel Group
- Shagang Group
- Ansteel Group
- Shougang Group
- JFE Steel Corporation
- Tata Steel Group
- Other prominent players
Rectangular hollow section steel market report also contains analysis on:
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Rectangular hollow section steel market segments:-
- By type:
- Welded Rectangular hollow section
- Seamless Rectangular hollow section
- By application:
- Agricultural
- Construction
- General Engineering
- Mechanical Application
- Others
- Rectangular hollow section steel market dynamics
- Rectangular hollow section steel market size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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