Reports
Reports
Sale
The Mexico flat steel market reached a volume of around 17,919.00 KMT in 2023. The market is projected to grow at a CAGR of 5.5% between 2024 and 2032, reaching a volume of nearly 27,361.57 KMT by 2032.
Figure: Flat Steel Production in Mexico (Thousand Tonnes), 2018-2022
Mexico has 14 free trade agreements (FTAs) with different nations, including the United States, Canada, Japan, and Australia, as well as the EU. The reduced tariffs and taxes on the transport of goods further create opportunities to position Mexico as a manufacturing and nearshoring hub. In 2022, the United States and Mexico traded goods worth USD 855.1 billion.
One of the major factors driving the Mexico flat steel market growth is the expanding automotive sector. The country’s proximity to the United States, low labour and facility costs, and rising demand for cross-border logistics and automotive supply chain services are contributing to the expansion of automotive manufacturing in Mexico, aiding the demand for flat steel. Mexico is a significant producer of trucks, light vehicles, passenger cars, and auto parts. In 2023, Mexico produced 3.1 million commercial vehicles and 0.9 million passenger cars, a 14% increase compared to 2022.
Increasing flat steel demand in the automotive sector; thriving Mexico manufacturing sector; rising demand for low carbon steel; and the flourishing Mexico construction sector are favouring the Mexico flat steel market expansion
August 2024
Ternium's new USD 3.5 billion steel complex in Mexico initiated operations with the installation of its first finishing line, capable of producing 550,000 metric tons. The facility, including a 2.6 million metric ton steel shop, is set to be fully operational by mid-2026. Through the facility, Ternium aims to enhance its presence in the USMCA region and position itself as a leader in low-emission steelmaking.
July 2024
Saf-Holland, a German manufacturer of steel components for heavy truck trailer chassis, opened a USD 33 million production facility in Piedras Negras, Coahuila, Mexico. The plant specialises in producing "fifth wheels" for heavy trucks, primarily for export, with 70% of over 22,000 trucks produced in June being exported.
May 2024
Venture Steel Inc., a leading flat-rolled metal processor and distributor based in Toronto, expanded its facility in Ramos Arizpe, Mexico. The company aims to meet growing consumer demand in the Mexican manufacturing market by enhancing its capabilities through facility expansion and new processing equipment.
October 2023
Tenova, a leader in sustainable metals and mining solutions, announced its intention to provide advanced technologies for its new steel mill in Pesquería, Mexico. The USD 2.2 billion project is designed to integrate Ternium's downstream operations at the site, utilising cutting-edge technologies that comply with USMCA's "melted and poured" rule of origin and support Ternium's 2030 decarbonisation goals.
Increased application of flat steel in the automotive sector
Flat steel is used in body panels and structural elements of automobiles owing to its durability and strength. In 2023, Mexico produced around 4 million vehicles, a 14% increase compared to 2022.
Growth in Mexico’s manufacturing sector
Mexico’s manufacturing sector is expanding due to the availability of low-cost skilled labour and its advantageous location for companies looking to outsource their manufacturing operations, driving the Mexico flat steel market.
Increasing demand for low carbon steel
Mexico has embraced modern steelmaking technologies, including the electric arc furnace (EAF) technology, which is well-known for its efficiency and recycling capacity, and the basic oxygen steelmaking (BOS) process, which involves injecting oxygen into molten iron to reduce carbon content.
Mexico’s construction sector growth
Flat steel bars are essential in structural framing, offering strength and durability for long-lasting construction. Between 2023-2032, the Mexico construction sector is projected to witness an average annual growth of 2.8%, aiding the demand for flat steel.
Presence of Prominent Iron Ore Mines in Mexico
Iron ore is an essential component of steel production. As of 2024, Mexico has 10 operational iron ore mines. Some of these mines are owned by key flat steel manufacturers, such as Ternium (Pena Colorada and Las Encinas), and ArcelorMittal (Las Truchas and San Jose Iron Ore).
Mexico is a major manufacturer of passenger vehicles, light vehicles, trucks, and auto parts. Flat steel is a crucial component in the production of auto parts, including doors, bonnet lids, bumpers, and other systems. By the end of 2024, automotive production in Mexico is expected to grow around 8% compared to 2023, totalling 4.1 million units. During 2020-2023, Mexico’s electronics manufacturing sector experienced 30% growth, contributing to flat steel demand due to its exceptional electrical resistivity. In August 2024, Bosch's BSH Division inaugurated its first appliance manufacturing plant in Nuevo Leon, Mexico. Construction of the plant began in July 2022 on a 430,000-square-meter site designed to meet the needs of the North American market. The factory has an annual production capacity of over 300,000 refrigerator units.
In the construction sector, flat steel is widely used for supporting and joining structural elements. It finds application in roofing, staircases, sheds, and welded structures. In H1 2023, Mexico’s construction sector grew by 29% year-on-year, supporting the Mexico flat steel market expansion. Flat steel bars are used in white goods to make the products safe, corrosion-resistant and long-lasting. Nuevo Leon is the hub of home appliances due to the presence of leading manufacturers, including Whirlpool Corporation, LG Corporation, Bosch GmbH, and Conair LLC.
The EMR’s report titled “Mexico Flat Steel Industry Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Market Breakup by Material Type:
Market Breakup by Application:
Market Breakup by Region:
By material type, carbon steel is expected to hold a significant market share due to its hardness and improved wear resistance.
Carbon steel is composed of carbon between 0.05 and 2.10% by weight and boasts corrosion-resistant and environmentally friendly properties. It is widely adopted in applications requiring strength and hardness, such as construction, engineering, agriculture, automotive manufacturing, and shipbuilding. Some of the major companies providing carbon steel in Mexico are ArcelorMittal México and Klöckner & Co SE.
Stainless steel is growing in demand in Mexico, particularly due to the growth of consumer goods, electronics and automotive sectors. Major industrial and commercial cities, such as Monterrey, CDMX and Guadalajara, are important demand centres for stainless steel. In July 2024, Stainless-steel supplier Prominox acquired the Mexican distribution business of Outokumpu, a Finnish steelmaker. The acquisition includes the large centres in Mexico City, Guadalajara and Monterrey.
Major players in the Mexico flat steel market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
Galvasid S.A. de C.V.
Headquartered in Mexico and founded in 2005, Galvasid S.A. de C.V. serves the appliances, refrigeration, processors, automotive, construction, and general industries. Its product portfolio includes galvanised flat steels, including rolls such as Covering G30, G40, G60 and G90, tapes, and plain sheets.
T A 2000, S.A. de C.V. (TYASA)
Headquartered in Mexico and founded in 1985, T A 2000, S.A. de C.V. (TYASA) produces and markets four major product lines: Construction steel, Coated steel, Flat steel, and Special steel. The company offers various types of steel products under various categories such as black sheet, including non-slip sheet, hot foil, and cold sheet; and galvanised sheet and colo steel painted sheet.
Outokumpu Oyj
Headquartered in Finland and founded in 1970, Outokumpu Oyj is the global leader in sustainable stainless steel, and bases its business on a circular economy, with over 90% of its production using recycled steel. Under its flat steel product portfolio, it offers cold rolled coil, strip and sheet, hot rolled coil, strip and plate, quarto plate, and precision strip.
Nippon Steel Corporation
Headquartered in Japan and founded in 1974, Nippon Steel Corporation is dedicated to advancing technologies and manufacturing excellence, contributing to society by delivering top-quality products and services. The company offers various ranges of flat steels including steel plate, stainless steel and steel sheets.
Other key players in the Mexico flat steel market include Acerinox, S.A., Grupo Simec SAB de CV, ArcelorMittal S.A., POSCO Co. Ltd., Hyundai Steel Co., Ltd, and Nucor-JFE Steel Mexico, S. de R.L. de C.V, among others.
Central Mexico is a prominent region due to the expanding automotive production in the region
In June 2024, Audi, the German carmaker announced its decision to invest USD 1.08 billion in electric vehicle projects in the Mexican state of Puebla. The government and Audi aim to make the region a hub for electric vehicles, significantly providing lucrative Mexico flat steel market opportunities.
In Northern Mexico, automotive manufacturing in Mexico is primarily located in the regions of Baja California, Sonora, Chihuahua, Coahuila, and Nuevo León. Some of the automotive companies with a presence in northern Mexico include Toyota, Stellantis, Daimler Freightliner and General Motors. In July 2024, Toyota witnessed a light vehicle production increase of 1.7% to 20,191 units compared to July 2022.
The rapid industrial development in the Bajio region aids the Mexico flat steel market growth. In May 2024, EMAG Group opened its new manufacturing unit in San Isidro Business Park in Querétaro, Mexico, showcasing the company’s commitment to the region. The new production facility covers an area of 2,880 m², including 1,800 m² of production space with 30 machine assembly stations.
In the Pacific Coast, the presence of the Chip Act and nearshoring are key factors driving the industrial development in Jalisco. A significant number of investments are carried out in the region, primarily in electronic component manufacturing (17% of total foreign direct investment) and the automotive sector (14%). Some companies chosen to locate in Jalisco are Flextronics (electronics manufacturer) and Jabil (electronics).
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Type |
|
Breakup by Material Type |
|
Breakup by Application |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Mexico Flat Steel Market Overview
8.1 Key Industry Highlights
8.2 Mexico Flat Steel Historical Market (2018-2023)
8.3 Mexico Flat Steel Market Forecast (2024-2032)
9 Mexico Flat Steel Market by Type
9.1 CR Coil/Sheet
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Galvanised Sheet
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 HR Coil/Sheet
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 HR Plate
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 HR Pickled and Oil Coil/Sheet
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Electro Galvanised Sheet
9.6.1 Historical Trend (2018-2023)
9.6.2 Forecast Trend (2024-2032)
9.7 Prepainted Steel
9.7.1 Historical Trend (2018-2023)
9.7.2 Forecast Trend (2024-2032)
9.8 Galvanneal Sheet
9.8.1 Historical Trend (2018-2023)
9.8.2 Forecast Trend (2024-2032)
9.9 Others
10 Mexico Flat Steel Market by Material Type
10.1 Carbon Steel
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Stainless Steel
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Mexico Flat Steel Market by Application
11.1 Automotive
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 White Goods and Consumer Durables
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Breakup by Type
11.2.3.1 Freezers
11.2.3.2 Washing Machine
11.2.3.3 Kitchen Appliances
11.2.3.4 Air Conditioners
11.2.3.5 Microwaves
11.2.3.6 Vacuum Cleaners
11.2.3.7 Others
11.3 Electrical Equipment
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Machinery
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Mexico Flat Steel Market by Region
12.1 Baja California
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Northern Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 The Bajío
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Central Mexico
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Pacific Coast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Yucatan Peninsula
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Trade Data Analysis (HS Code: 7208, 7209, 7210, 7211, 7212, 7220)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Mexico Steel Service Center Competition Overview
16.2.1 Steel Technologies LLC
16.2.2 Kloeckner/NMM
16.2.3 Coilplus Mexicana, S.A. de C.V. (Metal One)
16.2.4 Hanwa Steel Service Mexicana SA de CV
16.2.5 Serviacero Group
16.2.6 JFE Shoji Steel Service Center
16.3 Company Profiles of Steel Producers
16.3.1 Galvasid S.A. de C.V.
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.1.3 Demographic Reach and Achievements
16.3.1.4 Certifications
16.3.2 T A 2000, S.A. de C.V. (TYASA)
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.2.3 Demographic Reach and Achievements
16.3.2.4 Certifications
16.3.3 Outokumpu Oyj
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.3.3 Demographic Reach and Achievements
16.3.3.4 Certifications
16.3.4 Nippon Steel Corporation
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Demographic Reach and Achievements
16.3.4.4 Certifications
16.3.5 Acerinox, S.A.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Demographic Reach and Achievements
16.3.5.4 Certifications
16.3.6 Grupo Simec SAB de CV
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Demographic Reach and Achievements
16.3.6.4 Certifications
16.3.7 ArcelorMittal S.A.
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Demographic Reach and Achievements
16.3.7.4 Certifications
16.3.8 POSCO Co. Ltd.
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.8.3 Demographic Reach and Achievements
16.3.8.4 Certifications
16.3.9 Hyundai Steel Co., Ltd,
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.9.3 Demographic Reach and Achievements
16.3.9.4 Certifications
16.3.10 Nucor-JFE Steel Mexico, S. de R.L. de C.V
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.10.3 Demographic Reach and Achievements
16.3.10.4 Certifications
16.3.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Mexico Flat Steel Market: Key Industry Highlights, 2018 and 2032
2. Mexico Flat Steel Historical Market: Breakup by Type (KMT), 2018-2023
3. Mexico Flat Steel Market Forecast: Breakup by Type (KMT), 2024-2032
4. Mexico Flat Steel Historical Market: Breakup by Material Type (KMT), 2018-2023
5. Mexico Flat Steel Market Forecast: Breakup by Material Type (KMT), 2024-2032
6. Mexico Flat Steel Historical Market: Breakup by Application (KMT), 2018-2023
7. Mexico Flat Steel Market Forecast: Breakup by Application (KMT), 2024-2032
8. Mexico Flat Steel Historical Market: Breakup by Region (KMT), 2018-2023
9. Mexico Flat Steel Market Forecast: Breakup by Region (KMT), 2024-2032
10. Major Importing Countries by Volume
11. Major Exporting Countries by Volume
12. Major Importing Countries by Value
13. Major Exporting Countries by Value
14. Mexico Flat Steel Market Structure
In 2023, the market volume was nearly 17,919.00 KMT.
The market is assessed to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 27,361.57 KMT by 2032.
The major drivers include the growth of the manufacturing and construction sectors and the presence of prominent iron ore mines in the country.
The key trends aiding the market development include the growing demand for low carbon steels and surging automotive manufacturing activities.
The different types of flat steel include carbon steel and stainless steel.
The major applications of flat steel include automotive, white goods and consumer durables, electrical equipment, and machinery, among others.
The major players in the market include Galvasid S.A. de C.V., T A 2000, S.A. de C.V. (TYASA), Outokumpu Oyj, Nippon Steel Corporation, Acerinox, S.A., Grupo Simec SAB de CV, ArcelorMittal S.A., POSCO Co. Ltd., Hyundai Steel Co., Ltd, and Nucor-JFE Steel Mexico, S. de R.L. de C.V, among others.
Datasheet
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.