The U.S. hot rolled coil steel market was valued at USD 27.68 billion in 2024 and is projected to reach USD 32.75 billion by 2030, expanding at a CAGR of 5.2% from 2025 to 2030. Market growth is largely supported by robust demand across core industries such as construction, automotive, energy, and heavy machinery. Federal infrastructure initiatives are playing a pivotal role in driving steel consumption, particularly for large-scale projects including bridges, highways, and public transit systems.
The oil and gas sector remains a major consumer of HRC steel, driven by continued investments in pipelines and drilling infrastructure. At the same time, domestic manufacturing revival and reshoring strategies are strengthening the U.S. industrial base and creating additional opportunities for market expansion. A recent increase in tariffs on imported steel is further supporting local producers by reducing dependence on foreign supply, enhancing competitiveness, and improving supply chain resilience in the U.S. HRC steel industry.
Technological advancements in steelmaking, including the use of Electric Arc Furnace (EAF) systems, automation, and low-emission production methods, are modernizing the industry. These innovations not only boost efficiency and product quality but also align with national decarbonization goals, positioning the U.S. hot rolled coil steel market for sustainable, long-term growth.
Key Market Insights:
- By thickness: The greater than 3 mm thickness segment accounted for the largest revenue share of 65.8% in 2024. This is attributed to its extensive use in heavy structural components, industrial machinery, and infrastructure projects requiring high strength and durability.
- By end-use: The construction and infrastructure segment led the U.S. market in 2024, supported by urbanization, growing demand for housing and commercial spaces, and large-scale infrastructure developments such as railways, bridges, and highways.
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Market Size & Forecast
- 2024 Market Size: USD 27.68 Billion
- 2030 Projected Market Size: USD 32.75 Billion
- CAGR (2025–2030): 5.2%
Key Companies & Market Share Insights
The U.S. HRC steel market is led by companies such as Nucor Corp, Cleveland-Cliffs Inc., and United States Steel Corporation (U.S. Steel).
- Nucor Corporation is one of the largest U.S. steel producers and a key player in the HRC market. The company operates multiple EAF mills and prioritizes sustainable steelmaking.
- United States Steel Corporation (U.S. Steel), headquartered in Pittsburgh, is among the most established names in the industry, with significant investments in EAF systems and sustainability-focused initiatives to modernize its production capabilities.
Key Players
- Nucor Corp
- Cleveland-Cliffs Inc.
- United States Steel Corporation (U.S. Steel)
- Steel Dynamics, Inc. (SDI)
- Commercial Metals Company (CMC)
- JSW Steel USA
- California Steel Industries (CSI)
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Conclusion
The U.S. hot rolled coil steel market is set for steady growth, fueled by demand from critical industries, federal infrastructure investments, and the ongoing shift toward sustainable steelmaking technologies. With modernization efforts, reshoring initiatives, and supportive trade policies, domestic producers are well-positioned to strengthen supply chains, enhance competitiveness, and secure long-term market resilience.
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