Carbon Steel Market by End-user and Geography - Forecast and Analysis 2020-2024

The global carbon steel market size has the potential to grow by 699.35 MT during 2020-2024. The market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by end-user (construction, shipbuilding, automotive, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ArcelorMittal SA, Baoshan Iron & Steel Co. Ltd., Essar Steel India Ltd., HBIS Group Co. Ltd., Hyundai Steel, Jindal Steel & Power Ltd., Nippon Steel Corp., POSCO, Tata Steel Ltd., and United States Steel Corp.

Market Overview

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Market Competitive Analysis

The carbon steel market is currently fragmented. The degree of fragmentation will decrease over the forecast period. Vendors are focusing on technological advances to improve steel production and increase revenue generation. Nippon Steel Corp., POSCO, Tata Steel Ltd., and United States Steel Corp. are a few of the significant market participants. Although the increasing demand from the construction industry will offer immense business opportunities to the vendors, the wide availability of substitutes such as stainless steel, aluminum, and others will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this carbon steel market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. This carbon steel market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading carbon steel companies, including:

• ArcelorMittal SA
• Baoshan Iron & Steel Co. Ltd.
• Essar Steel India Ltd.
• HBIS Group Co. Ltd.
• Hyundai Steel
• Jindal Steel & Power Ltd.
• Nippon Steel Corp.
• POSCO
• Tata Steel Ltd.
• United States Steel Corp.

Carbon Steel Market: Segmentation by Region

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APAC was the largest market for carbon steel in 2019, and the region will continue to offer maximum growth opportunities to vendors over the forecast period. The rapid growth in industrialization and infrastructural developments are some of the significant factors contributing to the carbon steel market share growth in APAC. Government-driven large-scale infrastructure projects are primarily contributing to the market growth in the region.

Almost 76% of the overall market’s growth will originate from APAC during the forecast period. China, India, Indonesia, and South Korea are the key markets for carbon steel in the region. The market growth rate in this region will be faster than that of other geographies during the forecast period.

Carbon Steel Market: Segmentation by End-user

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The development of high-rise buildings, tech parks, roads, highways, bridges, and other residential and commercial infrastructure across the world has increased the use of carbon steel. The metal is extensively used in the construction industry, primarily owing to its high strength and ductility. Moreover, major industry players such as Nippon Steel are involved in developing carbon steel products with high ductility. These factors will contribute to the carbon steel market growth by the construction segment substantially over the forecast period.

The growth rate of the construction market segment is expected to be slower compared with the shipbuilding and automotive market segments over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the carbon steel market size.

Carbon Steel Market: Key Drivers and Trends

The construction industry, which involves commercial, residential, and industrial sectors, is one of the significant consumers of carbon steel products. Carbon steel is used as a primary raw material for manufacturing structural frameworks, high strength plates, rectangular tubing, and other construction components owing to its lightweight, strength, and ductility. These structural products have applications in various construction activities. Therefore, the growing construction and infrastructure projects across developed and developing countries such as the US, China, India, the UAE, the UK, Japan, and others are increasing sales of carbon steel. As a result, the carbon steel market growth is expected to be substantial over the forecast period.

• Steel production is an energy-intensive process and results in the release of large amounts of greenhouse gases.
• Established vendors such as POSCO and Nippon steel are taking initiatives to reduce their carbon emissions and conserve energy during steel production, which is one of the critical carbon steel market trends at present.
• Nippon Steel is further promoting initiatives that are targeted at achieving a low-carbon society.
• ArcelorMittal is developing a strategic plan to meet the Paris Agreement targets and develop low-emission steel producing technologies.
• The carbon steel market size will grow at a CAGR of almost 8% during 2020-2024.

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Carbon Steel Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the growth of the carbon steel market during the next five years
• Precise estimation of the global carbon steel market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the carbon steel industry in APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of carbon steel vendors

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