Guangdong LiYou Steel Structure Engineering Co., Ltd. +8619147784007 liyousteelstructure@outlook.com
Views: 25 Author: Site Editor Publish Time: 2022-09-01 Origin: Site
When it comes to your construction project, ensuring that you have the most effective materials to hand is integral. Of course, there are numerous options for construction projects to consider in terms of materials, and each of these offers unique pros and cons. As such, no single material necessarily provides a suitable solution for every application – but structural steel and steel framing may be one of the most versatile. With this thought in mind, today, we’re outlining the steel framing market in the United States, including the current and projected size and scale overall.
Without a doubt, steel framing is rapidly becoming more popular and versatile as a material to use for construction projects and plans. However, the size and scale of the steel framing market are not always clear, so we have outlined a few key points you should know about these as follows.
The exact value of the steel framing market within the United States alone is not necessarily clear; however, this is expected to be around $20 billion in the US . This figure clearly represents a significant financial value and firmly positions the steel framing market within the US in the top 400 industries by market size and value.
Within the steel framing industry itself, there are also numerous sub-industries influencing the total value. Overall, light gauge steel framing is rapidly becoming more popular as a convenient, durable, and effective option for construction project managers and businesses to consider implementing.
The steel framing market’s scale is clear outside of the US. Indeed, the international steel framing market is growing at a very rapid rate. This fact is evident in the current compound annual growth rates, which are achieving over 4% in CAGR each year.
Furthermore, with the international steel framing market being worth $35 to $40 billion in total, it’s clear that the United States makes up a large proportion of the total market share. This may be due to the United States’ rapid growth and development and the growing trend of using steel framing within construction and residential projects alike.
With a high current market value, it’s safe to say that the steel framing market in America is strong and is the 28th highest industry in construction by market size. Moreover, the annual growth rate for the steel framing market in the US is around 1.3%, indicating a steady increase. However, this is slower than the average growth rate within construction industries, indicating plenty of opportunities for new entrants into the field.
Notably, the current main consumer of structural steel is in the Asia-Pacific region. However, the fastest-growing market for structural steel is in America, indicating that this annual growth rate may accelerate in the future. This may contribute to the anticipated growth of the steel framing industry from around $35 billion to almost $43 billion by 2027.
Steel framing is rapidly becoming a more versatile and valuable solution to the issue of creating affordable construction projects. Not only is it incredibly easy and affordable to purchase, but it may be more efficient to install and erect than traditional alternatives. With this thought in mind, it’s well worth considering whether steel framing might be a suitable choice for your own construction projects.
Numerous types of steel are used for steel framing in construction, but generally, the most common type is light gauge steel. In addition, bolted steel may also be a popular option to consider.
Overall, any steel used for steel framing should feature a higher than normal carbon content. This helps strengthen the frame and provides additional durability and resistance to wear and tear, ensuring that the steel frame is able to withstand the rigorous demands of the construction industry. Ideally, a frame with around 2% carbon content will usually be the most suitable option to consider for commercial construction applications.
Undeniably, there’s a lot to love about using steel framing in your construction projects over other materials. Not only does it provide excellent strength and durability, but it is also highly practical in many other ways. This indicates why steel framing is often so effective and popular, and may also explain why the number of people choosing steel framing for their own construction projects is on the increase.
Some of the main benefits of steel framing, in addition to the strength and durability of the frame itself, include:
- Fire resistance
- Insect and pest resistance
- Easy to put together
- Excellent moisture resistance
- Long-term solutions
- Easy to implement with many designs
Considering these features, it’s no surprise that the steel framing industry is expected to grow significantly over the coming years. As such, it is also likely that a growing number of construction projects may utilize steel framing in whole or in part going forward.
When we consider the excellent benefits and features of steel framing, it is perhaps unsurprising that so many companies are choosing to use steel framing for their construction projects. However, if you have been planning to use steel framing for your business, it’s worth considering the benefits and drawbacks of steel frames overall to ensure this is the right material for your requirements. Furthermore, whether you’re an investor looking to get involved with the steel framing industry or a project manager trying to determine if steel framing might be right for you, we’re confident that today’s guide may have helped. Hopefully, this will have given you a clearer picture of the current state of the United States steel framing market.
If you have any further questions about steel framing or the US steel framing market, please don’t hesitate to contact our experts today at teamworksteelstructure@aliyun.com. We’re here to help you find out more about steel framing and the value it can bring to your business.
