A new market intelligence study by Transparency Market Research presents a detailed overview of the global steel framing market. The report is titled “Steel Framing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.” The market research study provides a comprehensive analysis of the growth drivers, factors limiting the market’s growth, current trends, market structure, and projections for the period from 2015 to 2023.
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Steel frames constitute an essential part of the present construction industry. Steel frames are being used in the construction and building industry due to the reliability and architectural freedom that they offer. Steel frames allow for greater design flexibility and they are efficient in terms of cost and time, and durable. Steel frames provide endurance to a structure and are resistant to corrosion, fire, and pests. They also have the advantages of being lightweight and exhibiting a high strength to weight ratio, and are logistically feasible for the construction industry. Moreover, the dead weight of steel structures is relatively low, providing an attractive proposition to builders. The use of steel frames results in a reduction in the time and expense of the construction.
The steel framings market is majorly driven by the increasing construction of new buildings and other infrastructure across the world. Steel framings are essential in constructing structures to provide the required safety through their structural integrity, thus boosting the market. Steel has a high innate strength, which enables long spans and curves to be incorporated easily in the design of the building. Unlike timber, steel framings eliminate the need for pesticide treatment and the use of preservatives or glues. A favorable national income generally translates to increased construction of various types of buildings, which in turn proves to be beneficial for the global steel framings market. Asia Pacific, North America, and the Middle East have an improved building and construction scenario, which is why the demand from these regions is acting as a driving force for the global steel market.
Steel framings used in structures such as bridges need to be coated with paints regularly, as they are prone to corrosion due to constant exposure to the environment. Moreover, steel is a good thermal conductor and therefore transmits heat rapidly in the building. To counter this possibility, fireproofing measures need to be taken. These are some of the challenges faced by the steel framings market.
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The global steel framing market is segmented on the basis of geography into Asia Pacific, North America, Europe, and Rest of the World. Out of these, North America dominated the market for steel framings due to the growing construction of high-rising commercial buildings. Asia Pacific is the second largest regional segment of the global market in terms of demand. Asia Pacific is expected to be the fastest growing region due to improvement in the socioeconomic situation of the region.
Some of the key companies engaged in the steel framings market are Hadley Group, Aegis Metal Framing, Voestalpine Metsec Plc, The Steel Framing Company, and Keymark Enterprises, LLC.
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