The Latin America, Middle East and Africa Cold Rolled Steel Coil Market would witness market growth of 4.9% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 14,645.95 tonnes, showcasing a growth of 2.7% (2024-2031).
Cold rolled steel coils are essential in the automotive sector due to their superior strength, surface finish, and dimensional accuracy, which are critical for manufacturing various vehicle components such as body panels, structural parts, and intricate assemblies. Thus, the Saudi Arabia market would utilize 1,370.56 tonnes of cold rolled steel coil by 2031.
The Brazil market dominated the LAMEA Cold Rolled Steel Coil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,254.7 Thousands by 2031. The Argentina market is showcasing a CAGR of 5.7% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 4.5% during (2024 - 2031).
Cold-rolled steel coils manufacture aerosol cans for packaging various products, including paints, coatings, adhesives, and personal care products. Aerosol cans made from cold-rolled steel coils offer excellent strength, durability, and pressure resistance, ensuring the safe and efficient dispensing of packaged products.
Moreover, these are used to manufacture food and beverage cans for packaging a wide range of products, including fruits, vegetables, meats, seafood, soups, and beverages. Food and beverage cans made from cold-rolled steel coils offer excellent protection against contamination, light, and oxygen, ensuring the preservation and freshness of packaged goods.
The UAE invests in developing oil and gas infrastructure, including pipelines, refineries, storage terminals, and petrochemical plants. These are used to construct oil and gas facilities, driving demand for steel materials in the UAE. The UAE is expanding its offshore exploration and production activities to tap into its offshore oil and gas reserves in the Arabian Gulf. Cold-rolled steel coils fabricate offshore platforms, subsea structures, and pipelines for offshore oil and gas projects, driving demand for steel materials in the UAE.
Free Valuable Insights: The Worldwide Cold Rolled Steel Coil Market is Projected to reach USD 192.8 Million by 2031, at a CAGR of 3.3%
Based on Hardness, the market is segmented into Half-hard, Full Hard, Quarter Hard, and Others. Based on End User, the market is segmented into Automotive, Construction, Aerospace, Oil & Gas, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Hardness (Volume, Tonnes, USD Million, 2020-2031)
By End User (Volume, Tonnes, USD Million, 2020-2031)
By Country (Volume, Tonnes, USD Million, 2020-2031)
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