Light Steel Framing Market - Forecast(2021 - 2026)
Light Steel Framing Market size is forecast to reach $26.4 billion by 2025 after growing at a CAGR of 3.8% during the forecast period from 2020-2025. There has been a surge in the demand for steel in recent times, owing to the various advantages of steel, such as overall load, construction cost and quality over concrete. Being strong and relatively lightweight too, steel also has cost advantage over any other material used for construction such as concrete , wood etc. With the growing infrastructure needs which demand construction at high speed, strong structure and economic viability, light steel framing industry has a potentially successful future. Owing to the aftermaths of the global pandemic- COVID-19, it has been estimated that the demand for steel is going to reduce by 11.6% by the end of 2020, but the promising news is that the demand is going to increase drastically by 9.2% in the year 2021. The developed countries such as the US and Europe are...