HOME Research Insight Agreements & Collaborations, Expansions, Mergers & Acquisitions, New Product Launches, and Partnerships are some of the Key Strategies Adopted by the Leading Companies in the Flat Steel Market



Agreements & Collaborations, Expansions, Mergers & Acquisitions, New Product Launches, and Partnerships are some of the Key Strategies Adopted by the Leading Companies in the Flat Steel Market


"Steel is an alloy that is primarily utilized in the construction industry. It serves to be fundamental component for developing various infrastructures, such as buildings, railway tracks, and roads. Steel products are mainly classified into flat steel and long steel products. Flat steel products are used in varied sectors, such as automotive, heavy machinery, and construction, among others. Key raw materials used for producing flat steel include thermal coke, coking coal, iron ore, steel scrap, and natural gas. Major companies operating in the flat steel market include ArcelorMittal (Luxembourg), POSCO (South Korea), Voestalpine AG (Austria), Essar Steel (India), ThyssenKrupp (Germany), United States Steel Corporation (U.S.), Nippon Steel & Sumitomo Metal Corporation (Japan), Allegheny Technologies Inc. (U.S.), SSAB (Sweden), Hyundai Steel Co., Limited (South Korea), Tata Steels Limited (India), SAIL (India), and Essar Steel (India), among others.

Agreements & collaborations, expansions, mergers & acquisitions, new product launches, and partnerships are some of the key strategies adopted by the leading companies in the flat steel market. These companies have also been investing in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the market.

POSCO (South Korea) has been focusing on agreements & collaborations to strengthen its position in the flat steel market and is expanding its business in new geographies. This has helped the company to expand its global footprint and tap critically advantageous regions that are witnessing rapid growth in the flat steel market. In 2015, the company entered into a strategic agreement with Renault Samsung Motors to supply high quality materials for automobiles. In the same year, the company entered into a supply agreement with SsangYong Motor to supply new steel grades required for manufacturing new cars. In 2013, the company expanded its production facilities in China, Turkey, and Indonesia for manufacturing new grades of flat steels for automobiles and electronic applications.

In 2015, ArcelorMittal (Luxembourg) held the largest share of 10.2% of the flat steel market, owing to its global presence and high revenue generated by the companyĺs steel business. The company majorly focuses on the strategy of agreements & collaborations to strengthen its position in the flat steel market. In 2016, ArcelorMittal entered into various agreements to supply plates and hot rolled sheets to MSC Meraviglia (Malta, Valletta), Osman Gazi Bridge (Turkey), and Royal Caribbean Cruises Ltd. Moreover, it also has entered into various agreements in 2015 to supply sheets and plates to Volkswagen (Germany), Baltic Sea Wind Farm, and Aš˙ Port (Brazil).

Related Reports:

Flat Steel Market by Type (Sheets & Strips, Plates), End User (Building & Infrastructure, Automotive & Other Transport, Mechanical Equipment), and Region (Asia-Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2026

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