The North America Cold Rolled Steel Coil Market would witness market growth of 2.7% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 18,494.62 tonnes, showcasing a growth of 22% (2020-2023). Half-Hard cold rolled steel coils exhibit moderate hardness, typically achieved through partial annealing, making them less malleable than fully annealed (soft) steel but more workable than full-hard steel. Thus, the Canada market would utilize 1,410.97 tonnes of Half-Hard cold rolled steel coils by 2031.
The US market dominated the North America 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 $30,122.9 Thousands by 2031. The Canada market is exhibiting a CAGR of 5% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 4.1% during (2024 - 2031).
This offers high tensile strength and excellent durability, making them ideal for structural applications. Buildings and infrastructure constructed using cold-rolled steel coils are strong, sturdy, and able to withstand various environmental conditions, including high winds, earthquakes, and heavy snow loads.
Moreover, buildings and infrastructure constructed using cold-rolled steel coils are less corrosion-resistant, resulting in lower maintenance costs and longer service life. These are lighter than other construction materials, such as concrete and masonry, making them ideal for lightweight construction projects.
Cold-rolled steel coils are used in manufacturing various aircraft components, including structural parts, fuselage frames, wing ribs, and landing gear, contributing to the expansion of the aerospace industry in Canada. The increased emphasis in the aerospace industry on employing lightweight materials to improve aircraft performance, lower emissions, and increase fuel efficiency is driving up demand for cold-rolled steel coil in Canada. The Canadian aerospace industry serves commercial and military markets, with a growing demand for defense and security applications.
Free Valuable Insights: The Cold Rolled Steel Coil Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
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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