India Hot Rolled Coil Steel Market Size, Statistics, Growth Trend Analysis, and Forecast Report, 2023 – 2033

The India HRC Steel Products Market is segmented By Product Type(Plate, Coil, Flat), By Application (Tube & Pipe Making, For Cold Rolling Purpose, General Structural and Engineering Application, Manufacturing of Corrosion Resistant Engineering Products, Drawing, forming & General Engineering Purposes, For Manufacturing of LPG Cylinders, Export Quality LPG Cylinders, Lighter Cylinders, Auto Components and Pre-Engineered, Fabrication of Long and Cross Members for LCV, MCV, and HCV, Flanging and Forming Purpose, Chains, Hair Clip, Clutch Plate, Hacksaw Blade etc., Manufacturing of Wheel Disk and Cold Formed Products, Manufacturing of Propeller Shaft, Manufacturing of Fork and Spokes for Two Wheelers, Manufacturing of Cycle Rimes, Manufacturing of Pipes mostly for Oil and Gas sector), and By Geography (North, Northeast, East, Central, West, South).

  • Report ID : MD2970
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  • Pages : 220
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  • Tables : 47
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The India HRC Steel Products Market shall reach a value of $6.7 Million in 2033, growing with a CAGR of X% during the forecast period of 2023 to 2033
India’s HRC Steel industry is expected to grow at a steady rate for the projected period. The hot rolled coil is a type of steel that is mostly used in pipe-making, construction, machinery, and other consumer sectors. Hot-rolled steel is inexpensive in comparison to cold-rolled steel and is widely used by large-scale companies for the production of heavy machinery, truck frames, metal building equipment, agricultural equipment, and large pipes & tunes. They are even used in the automotive industry, driven by the rising standards and income of the vast middle-class population in India.


Features that steer its demand in the Indian marketplace
India, being one of the largest consumers and producers of steel globally, the hot rolled coil market plays a major part in the industry. Hot rolled coils are preferably used in areas that do not need much shape change and aesthetic. This material is primarily used for construction purposes, such as in pipes, vehicles, railways, shipbuilding etc. Hot rolled is produced by utilizing scrap metal, where steel is rolled at high temperatures above the point at which it recrystallizes. In comparison to cold-rolled steel coils, the amount of incorporated carbon in hot-rolled steel coils is more bearable. These coils are therefore more challenging to work with. Moreover, hot-rolled products generally cost less than cold-rolled goods.

Variety of Hot Rolled Products, their Application, and Demand
The hot rolled products are characterized by their flat shape and are widely used in various industries for different applications.

  1. Hot Rolled Sheets: these are flat steel sheets produced through hot rolling process, having thickness ranging from a few mm to several mm. These are majorly used in construction, automotive manufacturing, shipbuilding, and general fabrication.
  2. Hot Rolled Plates: These are thicker than hot rolled sheets. They have applications that require higher load-bearing capacity like use in heavy machinery, structural components, pressure vessels, and boilers.
  3. Hot Rolled Strips: These are narrow flat steel products with a width usually less than 600 mm. These are mostly used in the manufacturing of pipes, tubes, and related products.
  4. Hot Rolled Coils: These are large coils of flat steel produced through the hot rolling process, these are wound into coils to ease the process of transportation and storage. They act as one of the best base materials for the production of other products like cold rolled coils, galvanized coils, and coated steel products.
  5. Hot Rolled Pickled and Oiled (HRPO) Coils: These are hot rolled coils that undergo an additional process of pickling and oiling; where pickling means removing surface oxides and impurities, and oiling aims at providing a protective layer to prevent rusting and moisture damage. They are used in the manufacturing of products that require superior surface finish and corrosion resistance.

Imports might hamper the growth of the market
According to a Commodity Insight Report published by S&P Global, Hot Rolled coil/strip was the most imported steel product at 1.96 million mt, accounting for about 35% of finished steel imports. The reason behind the imports is that Indian consumers often go for finished steel products like HRC from duty-free origins due to competitive prices. The landed price of seaborne HRC which arrived in Mumbai in February was around Rupee 49,000/mt on delivered Mumbai basis while the market price was already at Rupee 59,000-60,000/mt ex-works Mumbai levels, quoted from an Indian mill. The major countries that export HRC Products are South Korea, China, Japan, Russia, and Vietnam. According to some market participants, Indian exporters who earlier received premiums on offers made for some specific grade coils had stopped receiving them as Vietnam and Japan began offering material at competitive rates.

Regional Analysis
The market of Hot Rolled Products in India is concentrated and dominated by steel giants like TATA Steel and SAIL. India is one of the largest consumers and producers of steel globally, and the hot rolled coil market plays a significant role in the countrys steel industry. As the major applications of the product include construction, automotive industry, manufacturing, infrastructure, household goods, energy, and power; the regions with booming prospectives of such applications are target areas for the Hot Rolled Products. North and South India has upcoming infrastructure construction projects. Many Tier-2 States have upcoming Metro Development Projects, where hot rolled sheets will be used and their demand tended to go up. The automotive industry which is concentrated in Mumbai, Chennai, Jamshedpur, Jabalpur, and Kolkata is also expected to demand hot-rolled products for manufacturing automobile bodies.


Competitive Landscape
The process of producing Hot Rolled Products requires a large machinery setup and base investment. This is one of the most important reasons that hot-rolled products are manufactured by big market players. Primary players in the industry are SAIL, TATA Steel, JSW Steel, Jindal Steel and Power Ltd, Essar Steel, Bhushan Steel, and Jindal Stainless Ltd. TATA Astrum by TATA Steel leads as one of the market players and has hot rolled facilities at Jamshedpur (Hot Strip Mill & Thin Slab Caster), and a new Hot Strip Mill at Kalinga Nagar, which has the capability of producing hot rolled steel up to 1200 Mpa. JSW Steel has hot-rolled manufacturing units situated at Vijayanagar (Karnataka) and Dolvi (Maharashtra). SAIL, which is a state-owned steel producer, manufactures a wide variety of Hot Rolled Products, with different grades and specifications.

Recent Strategic Developments

  • January 2023: Indian mills have hiked their hot rolled coil export offers in response to its strong demand in the European market and price hike expectations from Chinese mills, Many Indian mills are bullish on the upcoming budget, and if the government increases the import duty on flat steel, this will further encourage mills to raise their offers.
  • Under the Union Budget 2023-24: The government allocated Rs. 70.15 crore (US$ 8.6 million) to the Ministry of Steel.
  • January 2023: Market participants feel prices will surge by a further INR 2,000-2,500/t in the domestic market. This hike will also take export prices to $750-755/t fob India, translating to $800-810/t cfr Europe, from $780-785/t cfr Europe now
  • August 2022: Tata Steel signed an MoU with Punjab Government to set up a steel scrap based electric arc furnace steel plant.
  • Hot-rolled coil accounts for 35% of imported steel over April-Feb, 2023.
  • Steel giants ArcelorMittal and Sajjan Jindal’s JSW Steel are in the race to acquire the steel plant of mining major National Mineral
  • The policy allowing 100% FDI (via the automatic route) in the steel industry has boosted investments.

Years considered for this report

  • Historical Years: 2021 - 2022
  • Base Year: 2022
  • Forecast Period: 2023-2033


India Hot Rolled Coil Steel Products Market Research Report Analysis Highlights

  • Historical data available (as per request)
  • Estimation/ projections/ forecast for revenue and unit sales (2023 - 2033)
  • Data breakdown for application Industries (2023 - 2033)
  • Integration and collaboration analysis of companies
  • Capacity analysis with application sector breakdown
  • Gross Margin and Profitability Analysis of Companies
  • Business trend and expansion analysis
  • Import and Export Analysis
  • Competition analysis/market share
  • Supply chain analysis
  • Client list and case studies
  • Market entry strategies adopted by emerging companies


India Hot Rolled Coil Steel Products Market Segments

By Product Type (Revenue, INR Crores, 2023 - 2033)

  • Plate
  • Coil
  • Flat

By Application (Revenue, INR Crores, 2023 - 2033)

  • Tube & Pipe Making
  • For Cold Rolling Purpose
  • General Structural and Engineering Application
  • Manufacturing of Corrosion Resistant Engineering Products
  • Drawing, forming & General Engineering Purposes
  • For Manufacturing of LPG Cylinders
  • Export Quality LPG Cylinders
  • Lighter Cylinders
  • Auto Components and Pre-Engineered
  • Fabrication of Long and Cross Members for LCV, MCV and HCV
  • Flanging and Forming Purpose
  • Chains, Hair Clip, sprocket, Clutch Plate, Hacksaw Blade etc.
  • Manufacturing of Wheel Disk and Cold Formed Products
  • Manufacturing of Propeller Shaft
  • Manufacturing of Fork and Spokes for Two Wheelers
  • Manufacturing of Cycle Rimes
  • Manufacturing of Pipes mostly for Oil and Gas sector

By Geography (Revenue, INR Crores, 2023 - 2033)

  • North
  • Northeast
  • East
  • Central
  • West
  • South

India Hot Rolled Coil Steel Products Market Players

  • TATA Steel
  • Steel Authority of India Ltd
  • RINL
  • Essar Steel
  • JSW Ltd
  • JSPL
  • Electrosteel Steel Ltd
  • Company 8
  • Company 9
  • Company 10

Available Versions of Hot Rolled Coil Steel Products Market Report:
Global Hot Rolled Coil Steel Market Research Report
US Hot Rolled Coil Steel Market Research Report
GCC Hot Rolled Coil Steel Market Research Report
APAC Hot Rolled Coil Steel Market Research Report
Europe Hot Rolled Coil Steel Market Research Report

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India Structural Steel Market Research Report
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