The India CRC Market is segmented By Product Type (Plate, Coil, Flat), By Strength (High Tensile Strength, Medium Tensile Strength, Low Tensile Strength), By Process (Annealed, Galvanized, Tempered), By Carbon Content (High Carbon, Medium Carbon, Low Carbon), By Application (Automotive, Industrial Construction, Commercial Construction, Steel Pipe, Shipping, White Goods, Machinery & Equipment, Industrial, General Engineering & Fabrication, Others), and By Geography (North, Northeast, East, Central, West, South).

India, being a developing economy, demands a huge volume of steel and other steel raw materials for the various industries in its secondary sector. Cold-rolled steel coils (CRC) are flat steel products that are produced through a cold rolling process to improve their surface finish and mechanical properties. This product has a smoother and more refined surface compared to hot-rolled steel. CRC steel is widely used in industries such as automotive, appliances, construction, manufacturing, and general engineering. It finds application in the production of automotive components, electrical appliances, structural parts, furniture, packaging materials, and many other consumer and industrial products. CRC steel coils have tight dimensional tolerances, making them suitable for applications that require consistent thickness and uniformity.

Quality Features that drive the Demand of CRC Steel Market
The growth of the cold rolled steel coil market is driven by its application and end-use industries. Major applications of Cold Rolled Coils include Automobile Industry, Furniture Industry, Electrical Panels, Pipes & Tubes, Packaging Material, Construction Facilities, Other Infrastructure, Railways, and Others. CRC steel is characterized by a superior finish, and is extensively used in the automotive sector for the manufacturing of body panels, structural components, and other automotive parts. Its high strength and formability make it suitable for shaping into complex automotive components. It is also used in the furniture industry for a wide range of applications for making cabinets, shelves, tables, and chairs. It is heavily utilized in the Consumer Goods Industry such as production of refrigerators, washing machines, dishwashers, and ovens. It is also used in electronics for the manufacturing of computer cabinets, electrical enclosures, etc. Additionally, CRC steel is utilized in the construction of infrastructure projects like bridges, railways, and highways.

Export reforms and duty drawbacks
China is one of the biggest importers of Cold rolled coils from India, accounting to approximately 1.25 billion USD imports of CR Steel Coils, followed by USA, Mexico, Poland, and Germany contributing to the export industry of cold rolled steel coils industry. Government Initiatives to promote the export of Cold rolled products are reforms regarding duty drawback which is around 1.6% of the commercial invoice value, provided by the customs. Under the Interest Equalization Scheme, if the firm is an MSME, such company is granted a 3% concession on loans by the government. The Export Permission Council provide the Registration cum Membership Certification (RCMC) to grant exports of this product under the Engineering Export Permission Council, based on the annual turnover. The current global market is around 131.1 billion USD, which is expected to grow to 159.8 billion USD by the year 2028. South Korea is a competitor in the export market, second to this comes the China CRC Market, followed by Japan, and Belgium.

Competition from imports and Price Volatility might hamper Market’s Growth
In the year ended March 31, 2022, India’s imports of flat steel made up the bulk of imports at 5.19M MT, out of which cold rolled coil/sheet stood at 0.346M MT (up 10.4%). Indian consumers often opt for finished steel products like CRC from duty-free regions due to advantage of competitive prices. South Korea is the leading source of imports for CRC to other countries, followed by China, Japan, Russia, and Vietnam. CRC steel prices are subject to volatility due to factors such as changes in raw material costs which include prices of iron ore, coal, and energy prices, global steel market dynamics, and fluctuations in its demand. Regulatory factors such as environmental regulations, labor laws, taxation policies, and import/export regulations also impacts the cost structure and operational efficiency of CRC steel manufacturers. Shifts in consumer preferences, market trends, or changes in industry dynamics can lead to demand fluctuations and pose risks to CRC steel producers.

Regional Analysis
The market of cold rolled steel in India has expanded significantly. The demand is primarily driven by packaging, automotive, construction, furniture, and retail industry. The Indian Metal packaging industry was expected to grow at a CAGR of 6.52% by the year 2028, and similarly the Steel Furniture Market size is projected to grow at a CAGR of 5.3% by 2028. The demand for cold rolled sheets and coils is distributed evenly across all states of India, as steel packaging and steel furniture are products with equivalent demand all over the country. Looking at the bigger picture, its demand is driven by industrialization, which can be noticed primarily in Metropolitan cities including Mumbai-Pune Cluster, Bangalore-Tamil Nadu Cluster, Hugli Region, Ahmedabad-Baroda Region, Gurgaon-Delhi-Meerut region as well as some tier 2 cities.

Competitive Landscape
The competitive landscape of CRC Steel Market is closely concentrated with large-scale and small-scale market players. The major players operating in the cold rolled steel industry are TATA Steel, JSW Steel Ltd, Steel Authority of India Ltd., Essar Steel India Ltd., Jindal Steel & Power Ltd., Rashtriya Ispat Nigam Ltd. (RINL), Electrosteel Steel Ltd., Jindal Stainless Limited (JSL), Tata Steel Limited, and others. JSW, which has 14 locations in India and a strong international presence in the USA and Europe, leads in the CRC market for various applications like furniture, metal cabinets, and versatile packaging solution in the retail, commercial, wholesale, and industrial sectors. TATA Steel, another major player operating in India, has a dominant cold rolled segment, TATA Steelium Cold Rolled Sheets and Coils, serving a wide spectrum of customers in the automotive, electrical, telecom, furniture, and the packaging industry. SAIL, a state-owned steel producer in India, is another leading company in the cold rolled products market. It caters to a variety of grades and standards that suit the industry’s applications and requirements.

Recent Strategic Developments

• JSW has entered into technological collaboration with JFE Steel Corp, Japan to manufacture high-strength and advanced high-strength steel for the automobile sector. JSW’s Cold Rolled Closed Annealed (CRCA) Coils and Sheets are cutting-edge Cold Rolling Mills (CRM) produced at Vijayanagar.
• Steel prices in India are trading at an all-time high. While hot-rolled coil (HRC) is quoted in the range of Rs 76,000-77,000 per ton, cold-rolled coil (CRC) is costing between Rs 85,000-86,000 per ton, March 2022.
• Government Initiatives to promote the export of Cold rolled products are reforms regarding duty drawback which is around 1.6% of the commercial invoice value, provided by the customs.
• In October 2021, JSW Steel invested Rs. 150 billion (US$ 19.9 million) to build a steel plant in Jammu and Kashmir and boost regional manufacturing.
• Steel giants ArcelorMittal and Sajjan Jindal’s JSW Steel are in the race to acquire the steel plant of mining major National Mineral Development Corporation (NMDC) in Chhattisgarh. The steel manufacturing facility located in Nagarnar; Chhattisgarh has been planned for privatization in the current financial year (FY23).
• 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: 2023
• Forecast Period: 2023-2033

India Cold Rolled Coil Steel 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 Cold Rolled Steel Coil Market Segments

By Product Type (Revenue, INR Crores, 2022 - 2032)

• Sheet
• Coils

By Process (Revenue, INR Crores, 2022 - 2032)

• Annealing
• Tempering
• Galvanizing

By Carbon Content (Revenue, INR Crores, 2022 - 2032)

• High Carbon Content
• Medium Carbon Content
• Low Carbon Content

By Application (Revenue, INR Crores, 2022 - 2032)

• Automotive
• Construction
• Steel Pipe
• Shipping
• White Goods
• Machinery & Equipment
• Industrial
• General Engineering & Fabrication
• Others

By Geography (Revenue, INR Crores, 2022 - 2032)

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

India Cold Rolled Steel Coil Market Players

• TATA Steel
• SAIL
• JSPL
• Essar Steel
• JSW
• RINL
• Electrosteel Steel Ltd
• Company 8
• Company 9
• Company 10

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

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