Thailand Structural Steel Market Size & Outlook, 2022-2030
Thailand structural steel market, 2018-2030 (US$M)
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Thailand structural steel market highlights
- The Thailand structural steel market generated a revenue of USD 1,150.8 million in 2022 and is expected to reach USD 1,613.2 million by 2030.
- The Thailand market is expected to grow at a CAGR of 4.3% from 2023 to 2030.
- In terms of segment, non-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 1,150.8 million |
| Market revenue in 2030 | USD 1,613.2 million |
| Growth rate | 4.3% (CAGR from 2022 to 2030) |
| Largest segment | Non-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, Thailand accounted for 0.9% 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 Asia Pacific, China structural steel market is projected to lead the regional market in terms of revenue in 2030.
- Taiwan is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,140.6 million by 2030.
Non-residential was the largest segment with a revenue share of 51.24% in 2022. Horizon Databook has segmented the Thailand structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
Construction sector in Thailand contributes approximately 8% to the country’s GDP. It accounts for 53% of the overall steel consumption in the country. Construction sector in Thailand is anticipated to grow after the recent stagnation in 2018.
It is projected to be primarily driven by the country’s infrastructure and public buildings sector, which includes government projects. According to the BIS Oxford Economics, construction sector in the country is anticipated to grow at 8% per annum till 2022.
This is predicted to create a favorable outlook for the structural steel market in the country. Thailand is set to become one of the lucrative markets for structural steel as steel construction is expected to become a preferred choice by contractors.
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Structural Steel Market Scope
Structural Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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Thailand structural steel market size, by application, 2018-2030 (US$M)
Thailand Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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