Hot Rolled Coil Market Size, Share to Grow at a CAGR of 4.91% during the forecast period to 2035

NEW YORK - Nov. 7, 2022 - PRLog -- According to ChemAnalyst report, "Hot Rolled Coil Market Analysis: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Type, End-User Industries, Distribution Channel, Regional Demand, 2015-2035". The Hot Rolled Coil market witnessed a demand of around 267.6 million tons globally in 2021 and is anticipated to grow at a significant rate with a healthy CAGR of 4.91% until 2035 owing to its surging demand in the Construction and Automotive sector.

Steel is an alloy of iron with few amounts of carbon that has high strength and is fracture resistant if compared to other alloys formed of iron. The carbon content present in steel ranges from 0.002% to 2.14% by weight. Hot Rolled Coil are produced from liquid/crude steel. The process to produce HR Coil is Melting and Reforming, also known as Hot-Rolling. HR Coil is made by uninterrupted rolling of steel at a high-temperature range, generally at 538 °C – 650 °C. The process is done by passing the metal sheet through rollers at high temperature, or above the recrystallization temperature of the metal. This hot rolled steel is also passed through a solution having a pH of less than 7. The metal sheets are passed through rollers several times to achieve the required thickness of the coil, after which pickling is done. Pickling is the process to remove the impurities and inorganic contaminants from Hot-Rolled Coil as impurities may alter the strength and properties of steel.

HR Coil is used in a wide range of applications including rebars, TMT, wires, sheets, rods, plates, etc. The main end-use industries of HR Coil are Construction, Automotive, Machinery, and other sectors. Growing demand for TMT, wire, rods, rebars in construction sector is expected to boost the HR Coil market in the forecasted years. Moreover, upcoming construction plans, growing industrial sectors and government favorable policies will boost the demand of HR Coil.

Read Full Report Here: https://www.chemanalyst.com/industry-report/hot-rolled-coil-market-667

Major players for Hot Rolled Coil globally are China Baowu Group, Arcelormittal Steel Limited, HBIS Groups, Shagang Group, POSCO, Ansteel Groups, Cleaveland Cliff Groups, TATA Steel Ltd., Nippon Steel Corp., Ternium Groups, Steel Authority of India Ltd., JSW Steel Ltd., US Steel Corp., and Others.