Singapore Steel Structure Market Shrinks by 43.8%: How Can Steel Grating Suppliers Break Through Against the Odds?
Introduction: One Market, Two "Temperatures"
In 2025, Singapore’s steel structure industry delivered a stunning report card. Highland Zhi Bao (08402), a structural steel engineering company operating in Singapore, reported in its annual results: the company’s revenue for 2025 was approximately SGD 13.067 million, a year-on-year decline of 43.8% from approximately SGD 23.255 million in 2024. Gross profit plummeted from approximately SGD 4.007 million to approximately SGD 71,000, with gross margin dropping from 17.2% to 0.5%. The full-year after-tax loss expanded to approximately SGD 3.658 million.
However, Singapore’s Building and Construction Authority (BCA) forecast in the same year that construction demand in 2025 would reach SGD 47-53 billion, an increase of 6.3% to 19.9% over 2024. The preliminary actual construction demand in 2025 reached SGD 50.5 billion, falling within the forecast range.
In the same market, one sub-sector (structural steel engineering) experiences a cliff-like decline, while overall construction demand continues to grow. Behind this “ice and fire” phenomenon lies structural market differentiation – orders for traditional large-scale structural steel projects are slowing down, while counter-cyclical segments such as maintenance and replacement, government infrastructure, and data centres are forming new demand pools.
For steel grating suppliers, this is both a warning and an opportunity.
Chapter 1: Where Did the 43.8% Decline Come From? – "Structural Pain" in the Steel Structure Market
1.1 A Microcosm of a Listed Structural Steel Company
Highland Zhi Bao’s performance decline offers a microscopic view of Singapore’s structural steel market. Management pointed out that large projects completed at the end of 2024 could not provide ongoing contributions in 2025, coupled with a reduction in the number of new projects, were the main reasons for the revenue decline.
This indicates that Singapore’s structural steel industry is experiencing a “project cycle gap” – after large-scale projects wind down, new large-scale projects have not yet generated sufficient orders to fill the void. At the same time, cost reductions failed to offset the significant revenue decline, causing gross margin to fall sharply from 17.2% to 0.5%.
1.2 External Headwinds
Beyond the project cycle factor, external conditions are also intensifying pressures on the steel structure industry:
US tariff impact: President Donald Trump’s global tariff policies are tightening global supply chains. Benjamin Lim, Chairman of the Singapore Manufacturing Federation’s Construction Products and Building Materials Industry Group, noted that “the US’s new tariffs on steel and aluminium are tightening global supply chains, and Singapore is already beginning to feel the pressure.”
Chinese capacity spillover: Construction consultancy Linesight predicts that surplus supply and competitive export prices from China will further depress construction material prices in Singapore. The continued expansion of Chinese steel grating capacity is creating price competition pressure for local Singapore structural steel companies.
Declining steel exports: Singapore’s steel export volume declined by 1.69% year-on-year from January to December 2025. Steel export value fell by 9.33% year-on-year in December 2025.
1.3 Overall Construction Still Growing – Opportunities Lie in "Structure"
Despite headwinds in the steel structure sector, Singapore’s overall construction industry continues to expand. BCA forecasts that construction demand in 2026 will remain at SGD 47-53 billion, unchanged from 2025. In the medium term (2027-2030), annual construction demand is expected to average SGD 39-46 billion.
Major projects underpinning this demand include: Changi Airport Terminal 5 (T5) development, Marina Bay Sands integrated resort expansion, new Tengah General and Community Hospital, multiple MRT line extensions, public housing projects, and more.
Chapter 2: Where Are the "Counter-Cyclical" Opportunities for Steel Grating?
Against the backdrop of strong overall construction demand but volatile structural steel engineering orders, steel grating suppliers need to shift their focus from “new large-scale structural steel projects” to the following counter-cyclical, stable-demand segments.
2.1 Maintenance and Replacement Market: "Essential Demand" for Existing Facilities
Steel grating in many of Singapore’s industrial facilities, port terminals, and public buildings has entered or is approaching its replacement cycle. The characteristics of this market are:
Stable demand: Not affected by new project cycle fluctuations
Diverse customer base: Covers industrial, commercial and public facilities across multiple sectors
Clear standards: Requirements for SS 363:2014 compliance, hot-dip galvanizing, etc., are well-defined
Jurong Island, as Singapore’s energy and chemical industry hub, is undergoing large-scale expansion. Approximately 300 hectares of land have been allocated for renewable energy and low-carbon fuel projects, with another 20 hectares designated for Singapore’s largest data centre park. Demand for steel grating from the maintenance of existing facilities and new platforms will continue to be released.
2.2 Government Infrastructure Projects: The "Ballast" of BCA Forecasts
BCA forecasts that the public sector is expected to lead medium-term construction demand. In 2026, major government projects such as Changi Airport T5, Marina Bay Sands expansion, the new Tengah Hospital, and MRT line extensions will continue to advance.
For steel grating suppliers, the demand from these projects includes:
Airport areas: cargo loading platforms, maintenance walkways, drainage systems
Healthcare facilities: equipment platforms, anti-slip walkways, ventilation grates
Transport hubs: pedestrian bridges, MRT station drainage covers, maintenance access
2.3 Data Centres: The "New Infrastructure" of the Digital Economy
Singapore is consolidating its position as a regional digital hub. JTC Corporation has initiated a feasibility study for building a data centre on Jurong Island, including evaluating various design options and safety measures. Approximately 20 hectares of land will be used to build Singapore’s largest data centre park, expected to support up to 700 MW of power load.
Data centre demand for steel grating includes:
Equipment load-bearing platforms: ventilation walkways under server racks
Cable management channels: overhead or floor cable gratings
Cooling system access: maintenance walkways for liquid cooling pipelines
Drainage and ventilation: drainage covers for server room floors
2.4 Public Housing and Urban Renewal: The Ongoing "Base Market"
HDB plans to launch over 50,000 Build-To-Order (BTO) units between 2025 and 2027. Every HDB project requires supporting drainage systems, pedestrian walkways, landscape tree grates, and car park drainage covers – precisely the “base demand” for steel grating.
Chapter 3: Strategies for Steel Grating Suppliers to Break Through Against the Odds
3.1 Differentiation Strategy 1: From "Price Competition" to "Compliance Premium"
Singapore’s market imposes extremely strict compliance requirements on steel grating:
SS 363:2014: Load classes covering B125 to D400, hot-dip galvanizing ≥85μm
BC1:2023 certification: Mandatory certification for non-European standard steel
2,000-hour salt spray test: BCA’s high-standard requirement for coastal projects
FPC Factory Production Control certificate: Only certificates issued by SAC-accredited bodies are accepted from 2024
For Chinese suppliers, price advantage is the “ticket” to enter the market, but compliance capability is the “moat” for long-term sustainability. Suppliers that can provide complete BCA registration documents, BC1 certification technical packages, and third-party test reports will gain priority selection by EPC contractors and developers.
3.2 Differentiation Strategy 2: Focus on "Counter-Cyclical" Segments
| Segment | Demand Characteristics | Key Steel Grating Products | Competitive Strategy |
|---|---|---|---|
| Maintenance & replacement | Replacement of existing stock, clear specifications | Standard types, fast delivery | Build inventory, shorten lead times |
| Government infrastructure | Large volumes, strict standards | SS 363 compliant, fully certified | Prioritise certification, participate in tenders |
| Data centres | High specifications, customised | Ventilation walkways, cable management | Provide custom design solutions |
| Jurong Island industrial | Heavy loads, high corrosion | 316L stainless steel, thick coating | Differentiate with high-corrosion-resistance products |
3.3 Differentiation Strategy 3: From "Selling Products" to "Selling Solutions"
Simply “selling steel grating” is being replaced by “selling solutions.” Value-added services that steel grating suppliers can provide include:
Load calculation and selection services: Customised selection recommendations based on specific project conditions (load class, support spacing, corrosion class)
Life-cycle cost analysis (LCCA) : Helping clients compare total costs over 25 years for different materials (galvanised carbon steel vs stainless steel vs FRP)
One-stop matching fixing components supply: stainless steel grating clips, grating clamps, saddle clips for grating, grating fasteners – complete product support
BCA registration and certification support: Assisting clients through the entire process from document preparation to laboratory testing
Chapter 4: Q&A – "Survival Rules" for Steel Grating Suppliers in Singapore
Q1: With the steel structure market shrinking 43.8%, will steel grating demand decline as well?
A: Not necessarily. The 43.8% decline reflects revenue contraction in the structural steel engineering sector, a cyclical fluctuation in large-scale structural steel project orders. Steel grating, as a supporting material, has demand spread across multiple sectors including construction, industry, municipal works, and data centres. As long as overall construction demand (BCA forecasts SGD 47-53 billion for 2025-2026) remains strong, the base demand for steel grating will hold up. The key is whether suppliers can shift from serving “structural steel engineering” to targeting counter-cyclical segments such as maintenance and replacement, government infrastructure, and data centres.
Q2: What is the biggest barrier for Chinese steel grating suppliers entering the Singapore market?
A: Certification compliance is the biggest barrier, not price. BCA requires all imported building materials to be registered. Steel grating must comply with SS 363:2014, and products using Chinese GB standard steel must pass BC1:2023 certification. In addition, FPC certificates must be issued by SAC-accredited bodies from 2024. The certification cycle typically takes 4-8 weeks, and it is recommended to start 6 months in advance. Only suppliers that can provide complete certification documentation can participate in HDB and BCA project tenders.
Q3: What special requirements do data centre projects have for steel grating?
A: Data centre requirements for steel grating include:
High open area ratio: Ensuring ventilation and heat dissipation under server racks
Slip-resistant surface: serrated steel grating (Type S) is standard
Load capacity: Meeting equipment weight and personnel access requirements (typically C250-D400)
Removability: Facilitating cable management and equipment maintenance
Anti-static considerations: Metal grating must be reliably grounded
Q4: What are the specific requirements for hot-dip galvanized coating thickness in the Singapore market?
A: According to SS 363:2014 and BS EN ISO 1461:2022, for workpieces ≥6mm thickness, the average coating thickness must be ≥85μm and the local minimum ≥70μm. For high-corrosion environments such as Jurong Island, it is recommended to increase coating thickness to ≥100μm. BCA also requires passing a 2,000-hour salt spray test with no red rust.
Q5: How can steel grating suppliers respond to price competition from Chinese overcapacity?
A: Chinese steel grating overcapacity has intensified export price competition. Response strategies include:
Avoid pure price competition: Shift to offering complete “compliance + certification + support” solutions
Deepen focus on segments: Concentrate on data centres, Jurong Island industrial, and other areas with high quality and certification requirements
Build local service capabilities: Establish warehousing and technical support in Singapore to shorten response times
Strengthen brand trust: Build market reputation through successful case studies and client references
Chapter 5: Conclusion and bangtu Company's Technical Commitment
The 43.8% decline in Singapore’s steel structure market is not a signal of industry “collapse” but rather the pain of structural transformation. The cyclical fluctuation of large-scale structural steel engineering orders is being offset by growth in counter-cyclical segments such as maintenance and replacement, government infrastructure, and data centres.
For steel grating suppliers, the “passport” to the Singapore market is no longer “the lowest price” but the comprehensive competitiveness of “compliance capability + product support + local service” .
Core recommendations for steel grating suppliers:
Prioritise certification: Start SS 363:2014 compliance, BC1:2023 certification, and BCA registration processes 6 months in advance
Focus on counter-cyclical segments: Direct sales resources towards maintenance and replacement, government infrastructure, data centres, and other segments
Provide complete solutions: One-stop services from load calculation and selection advice to matching fixing components
Differentiate with high-corrosion-resistance products: Offer 316L stainless steel and thick coating (≥100μm) products for high-corrosion environments such as Jurong Island
Build local capabilities: English technical documentation, local warehousing, and rapid response are key to winning trust
About bangtu Company
Bangtu Company has specialised in the steel grating field for over two decades. Our products are exported to Singapore and global markets. In response to the changing dynamics and opportunities in the Singapore market, we provide:
Full range of SS 363:2014 compliant steel grating: Load classes covering B125 to D400, meeting all technical requirements for steel gratings for roads, drains and walkways in Singapore
Type S serrated steel grating: Slip resistance level ≥R11, friction coefficient ≥0.8, meeting Singapore Factories Regulations anti-slip requirements
Hot-dip galvanized coating ≥100μm: Far exceeding the SS 363:2014 minimum of 85μm, passing 2,000-hour salt spray testing, suitable for high-corrosion environments such as Jurong Island
316L stainless steel grating: Suitable for coastal high-salt spray and chemical corrosion environments, over 25 years maintenance-free service life
BC1:2023 certification support: Complete BC1 certification technical documentation (chemical composition analysis, mechanical testing, welding procedure qualification, FPC documents) for products using Chinese GB standard steel
Matching stainless steel fixing components: Supply stainless steel grating clips, grating clamps, saddle clips for grating, grating fasteners – eliminating galvanic corrosion
Bilingual (Chinese/English) technical documentation: Meeting all documentation requirements for BCA registration, HDB supplier qualification, and EPC contractor tenders
Choose bangtu – in the wave of structural market differentiation, we provide steel grating solutions that stand up to the toughest standards.
Tel/Whatsapp: +8613363180165
Email: james@bangtuwiremesh.com
Website: www.bangtusteelgrating.com | www.chinawiremesh.ru
