Colombia Structural Steel Market Size & Outlook, 2022-2030
Colombia structural steel market, 2018-2030 (US$M)
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Colombia structural steel market highlights
- The Colombia structural steel market generated a revenue of USD 139.9 million in 2022 and is expected to reach USD 160.5 million by 2030.
- The Colombia market is expected to grow at a CAGR of 1.7% from 2023 to 2030.
- In terms of segment, residential was the largest revenue generating application in 2022.
- Non-residential is the most lucrative application segment registering the fastest growth during the forecast period.
Structural steel market data book summary
| Market revenue in 2022 | USD 139.9 million |
| Market revenue in 2030 | USD 160.5 million |
| Growth rate | 1.7% (CAGR from 2022 to 2030) |
| Largest segment | Residential |
| Fastest growing segment | Non-residential |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Non-residential |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Gerdau SA ADR, Nippon Steel Corp, Tata Steel Ltd GDR - 144A, Steel Authority Of India Ltd DR |
Other key industry trends
- In terms of revenue, Colombia accounted for 0.1% of the global structural steel market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil structural steel market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 2,143.1 million by 2030.
Residential was the largest segment with a revenue share of 50.25% in 2022. Horizon Databook has segmented the Colombia structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
According to the estimates of the World Bank, the GDP of Colombia grew by 2.6% in 2018. Moreover, according to the estimates of Pro Colombia, construction sector of the country is likely to grow by an average of 5%, thus, becoming one of the significant sectors driving the country’s economic growth.
As a result, the demand for structural steel is anticipated to increase over the forecast period in the country. Strong demand for housing and improving macroeconomic conditions are likely to augment the demand for structural steel in residential application.
On the other hand, rising investment in non-residential buildings and supportive government policies intended for infrastructure growth are likely to propel the demand for structural steel in non-residential application.
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Structural Steel Market Scope
Structural Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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Colombia structural steel market size, by application, 2018-2030 (US$M)
Colombia Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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