India’s steel industry is entering a strong growth phase, with the World Steel Association expecting demand to rise by around 9% in both 2025 and 2026 – the fastest among all major economies. This growth is being driven by steady momentum across sectors like construction, capital goods, automobiles, and infrastructure.
Steel consumption in the country continues to grow at a high rate. In FY24, India used 136.29 million tonnes (MT) of finished steel, and between April and January of FY25, usage had already reached 124.8 MT – showing that demand remains solid.
Policy push for value-added steel
Government policies are also boosting the value-added steel segment. Under the Production-Linked Incentive (PLI) Scheme for Specialty Steel, which has a budget of Rs 6,322 crore, the government aims to add around 25 MT of new specialty steel capacity and attract about Rs 40,000 crore in fresh investments. By early 2025, investments worth Rs 27,106 crore had already been committed, and another Rs 17,000–Rs 25,200 crore was expected in the second round.
In the value-added segment, coated steel products are seeing faster growth. Estimates show that India’s coated steel market, worth about $27.7 billion in 2024, could reach nearly $42 billion by 2030 – growing at around 7.4% annually. The pre-painted steel category is expanding the quickest, supported by demand in warehousing, industrial roofing, and modern building structures.
“India’s steel industry is undergoing a major transformation and Abhay Ispat is ready to meet this growing demand with innovation, quality, and accessibility. Our focus on value-added products and wider service reach ensures that we move in step with India’s industrial progress,” Vinesh Mehta, Chairman, Abhay Ispat, a structural steel manufacturing company, said.
The company claims to be focusing on two high-potential areas – sheet metal components and coated steel products. While sheet metal components are essential to the manufacturing and industrial ecosystem, the coating business, especially colour-coated steel, is one of the fastest-growing segments in the value-added steel market. Abhay Ispat claims to be working to improve access and services for MSMEs and industrial clients while also expanding its premium coated steel solutions for roofing, warehousing, and industrial infrastructure.
