Carbon Steel Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, India, Japan, South Korea - Size and Forecast 2024-2028

Published: Feb 2024 Pages: 176 SKU: IRTNTR40706

Carbon Steel Market Forecast 2024-2028

The carbon steel market size is projected to increase by USD 187.59 billion at a CAGR of 3.58% between 2023 and 2028. The building and construction sector relies heavily on various grades of steel, including high, medium, and low carbon steel, for its structural integrity. Silicon and copper are often alloyed with medium carbon steel to enhance its properties, making it a versatile material for diverse constructions and infrastructures worldwide. Steel, particularly high carbon steel, is among the most widely used materials in shipbuilding, providing strength and durability to vessels. The shipbuilding segment's growth is driven by the increasing demand for large-capacity container ships and the surge in liquefied natural gas trade.

Concurrently, there's a rising trend towards adopting sustainable manufacturing practices in the steel industry, aiming to reduce carbon emissions and conserve energy, which will further contribute to the market's expansion.

What will be the Size of the Market During the Forecast Period?

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Market Segment Insights

End-user Insights

The construction segment is estimated to witness significant growth during the forecast period. The global construction industry is growing at a moderate pace with the rising demand for residential and commercial buildings. The development of high-rise buildings, tech parks, roads, highways, bridges, and others across different countries globally drives the growth of the global construction industry. Owing to its high strength and ductility, carbon-steel is extensively used in the construction industry. 

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The construction segment was the largest and was valued at USD 358.70 billion in 2018. Major industry players, such as ArcelorMittal, Nippon Steel, and Baoshan Iron and Steel are involved in developing carbon steel products with excellent ductility. For instance, ArcelorMittal produces flat and low-carbon steel-products, such as slabs, plates, rebars, sheet pilings, and other products, across Europe and the Americas, which are extensively used in the construction industry. The global construction industry is expected to grow at a CAGR of X%, primarily owing to the rapid industrialization and growing residential planning in countries such as the US, the UK, Germany, China, and India. Improvements in the global economy have driven the demand for the construction of several healthcare, education, and social facilities. The growing population, rising demand for better infrastructure, and improving architectural practices are expected to boost the global construction industry, which, in turn, will propel the growth of the market during the forecast period.

Type Insights

Based on the type, the market has been segmented into low-carbon steel, medium-carbon steel, and high-carbon steel. The low carbon steel?segment will account for the largest share of this segment.?This segment refers to a particular type of steel that has a relatively low carbon content compared to other types of carbon steel. Generally, low-carbon-steel has a carbon content below 0.25%, making it highly flexible, flexible, and easy to weld. Low-carbon-steel is in high demand due to its broad range of applications in a variety of industries. Furthermore, the growing use of Electric Vehicles and Renewable Energy Solutions is likely to further stimulate the demand for low-carbon Steel for the production of associated components. These factors under the segment of low-carbon-steel will boost the growth of the market during the forecast period.

Market Regional Insights

APAC Region

APAC is estimated to contribute 76% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.

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The region is expected to grow faster than the overall market during the forecast period. Its position will remain the same as the largest market in 2028. In countries such as China, Indonesia, South Korea, and India, several industrial, commercial, and residential projects are under development. Furthermore, the rising government initiatives in different countries are expected to propel the demand for steel in the region, which, in turn, will fuel the growth of the market in APAC during the forecast period. In India, which is the third-largest steel-consuming economy, the demand for steel increased by 4.3% in 2022 as compared with 2020. The country is gradually recovering from the after-effects of demonetization and the implementation of the Goods and Services Tax, owing to which the country's economy is expected to grow at a faster rate. 

In addition, with the improving economy and the growing government-driven large-scale infrastructure projects such as the construction of auditoriums, bridges, airports, and other mega-projects, such as the metro rail projects, in different parts of the country, the demand for steels is expected to increase during the forecast period. Under the Make in India initiative, the country's shipping industry is expected to witness substantial growth. Under the initiative, six new mega ports are expected to be built by the end of 2025 to increase seaborne trading activities.

Market Dynamics and Customer Landscape

The market experiences a surge in demand propelled by the increasing demand from the shipbuilding industry. A notable trend in this market is the growing adoption of sustainable manufacturing practices, reflecting a shift towards environmentally friendly production methods. However, the industry faces challenges due to the volatile prices of raw materials, including iron, manganese, silicon, and copper, which serve as crucial alloying elements. carbon-steel, with its versatile material properties, finds extensive applications across various sectors such as building and construction, automotive, and shipbuilding.

From automobile body components to railway tracks and equipment parts, carbon steel serves as one of the most widely used materials worldwide. Its properties of being both strong and wear-resistant make it indispensable in infrastructural developments, including housing, energy industry, and oil and gas pipelines and rigs. Despite challenges, carbon-steel remains essential in shaping modern infrastructure amidst rapid urbanization and growing demand for durable materials.

Key Market Drivers

Increasing demand from shipbuilding industry is notably driving market growth. Carbon steel is one of the major raw materials used in the shipbuilding industry. It is used for manufacturing large vessels or containers for cargo ships, such as LPG carriers, bulkers, and tankers. In addition, it is predominantly used in the construction of ship hulls. Carbon-steel is a preferred raw material as it is strong, lightweight, and highly ductile. The growing demand for large-capacity container ships is also expected to fuel the growth of the shipbuilding industry. The significant increase in the liquefied natural gas sector drove the demand for gas carriers in 2023. Therefore, the growing seaborne trade activities and an increase in the manufacturing of different cargo ship units are expected to boost the growth of the market during the forecast period.

Significant Market Trends

An increase in the adoption of sustainable manufacturing practices is an emerging trend shaping market growth. Steel production is an energy-intensive process and results in the release of large amounts of greenhouse gases. To address this challenge, many major industry players, such as ArcelorMittal, Nippon Steel, POSCO, and Essar Steel-India Ltd. (Essar-Steel), are taking initiatives to reduce their carbon emissions and conserve energy during steel-production. Nippon-Steel is also promoting initiatives that are targeted at achieving a low-carbon society. The company has divided its energy conservation and CO2 emissions reduction plan into Action Plan phases. During Phase I of the Action Plan, the company is expecting to meet the low-carbon society targets by reducing around 5 million tons of CO2 emissions by the end of 2020. Several such initiatives are expected to increase the production of steel through eco-friendly means, which in turn will propel the growth of the market during the forecast period.

Major Market Challenges

Volatile prices of raw materials are a significant challenge hindering market development. Iron ore is the primary raw material used for manufacturing carbon-steel. It is smelted in a blast furnace where the impurities, such as sulfur, phosphorus, and manganese, are removed, and the desired amount of carbon is added. In the past few years, the prices of iron ore have witnessed major fluctuations globally, in turn affecting the prices of carbon-steel and finished products that use carbon steel as a raw material. At the beginning of the second quarter of 2020, iron ore prices declined by 25%-35%, which disrupted the supply of iron for producing crude steel. Furthermore, the decrease in shipments from Australia and Brazil to China has impacted the steel import rates of the country. In addition, the revised Chinese environmental policies restrict domestic steel-production, which can further increase the prices of iron ore and steel. Therefore, the decline in production and increase in the prices of iron ore are expected to increase carbon steel prices, in turn hampering the growth of the global market during the forecast period.

Who are the Major Market Companies?

Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and result in market growth analysis.

ArcelorMittal - The company offers carbon steel such as bars, rebars, special rebars threaded bars, and others.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including Ansteel Group Corp. Ltd., ArcelorMittal, Baosteel Group Corp., Cleveland Cliffs Inc., CRH Plc, Daido Steel-Co. Ltd., ERASTEEL, EVRAZ Plc, HBIS Group Co. Ltd., Hudson Tool-Steel, JFE Holdings Inc., Kennametal Inc., NACHI FUJIKOSHI Corp., Nippon-Steel Corp., NLMK Group, Omega-Steel Co., POSCO holdings Inc., Shandong Shounuo Metal Material Co. Ltd., Tata-Steel Ltd., and zq steel group Co. Ltd.

The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting growth strategies.

Global Market Customer Landscape

Market Analyst Overview 

The market is characterized by its essential attributes, including significant carbon concentration, ensuring high compressive strength ideal for various applications. Widely used in the production of automobile body components, structural shapes like angle iron and I-beams, and other critical building components such as bridge components and food cans, carbon steel exhibits excellent wear resistance and toughness. Its versatility extends to manufacturing railway tracks, train wheels, and diverse equipment parts.

With essential techniques like spheroidizing, complete annealing, and martempering, carbon steel assures robustness. The market's end-user industries span construction activity, small utensils, wires, and the automotive industry, benefiting from its exceptional weldability factor and forming qualities. Despite challenges like declining industry growth, carbon steel remains indispensable for its affordable price and desirable mechanical characteristics, providing solutions for building protection in various scenarios, including seismic events.

Market Scope

Report Coverage

Details

Page number

176

Base year

2023

Historic period

2017-2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.58%

Market growth 2024-2028

USD 187.59 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

3.21

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 76%

Key countries

US, China, India, Japan, and South Korea

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Ansteel Group Corp. Ltd., ArcelorMittal, Baosteel Group Corp., Cleveland Cliffs Inc., CRH Plc, Daido-Steel Co. Ltd., ERASTEEL, EVRAZ Plc, HBIS Group Co. Ltd., Hudson Tool-Steel, JFE Holdings Inc., Kennametal Inc., NACHI FUJIKOSHI Corp., Nippon-Steel Corp., NLMK Group, Omega-Steel Co., POSCO holdings Inc., Shandong Shounuo Metal Material Co. Ltd., Tata-Steel Ltd., and zq steel-group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market forecast during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the size of the market  size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, Europe, North America, Middle East and Africa, and South America
  • Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global carbon steel market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global carbon steel market 2018 - 2022 ($ billion)
    • 4.2 End-user Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)
    • 4.3 Type Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on End-user - Market share 2023-2028 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Construction - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Construction - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Construction - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Construction - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Construction - Year-over-year growth 2023-2028 (%)
    • 6.4 Shipbuilding - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Shipbuilding - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Shipbuilding - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Shipbuilding - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Shipbuilding - Year-over-year growth 2023-2028 (%)
    • 6.5 Automotive - Market size and forecast 2023-2028
      • Exhibit 42: Chart on Automotive - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 43: Data Table on Automotive - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 44: Chart on Automotive - Year-over-year growth 2023-2028 (%)
      • Exhibit 45: Data Table on Automotive - Year-over-year growth 2023-2028 (%)
    • 6.6 Transportation - Market size and forecast 2023-2028
      • Exhibit 46: Chart on Transportation - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 47: Data Table on Transportation - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 48: Chart on Transportation - Year-over-year growth 2023-2028 (%)
      • Exhibit 49: Data Table on Transportation - Year-over-year growth 2023-2028 (%)
    • 6.7 Others - Market size and forecast 2023-2028
      • Exhibit 50: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 51: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 52: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ billion)
      • Exhibit 55: Data Table on Market opportunity by End-user ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 56: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 57: Data Table on Type - Market share 2023-2028 (%)
    • 7.2 Comparison by Type
      • Exhibit 58: Chart on Comparison by Type
      • Exhibit 59: Data Table on Comparison by Type
    • 7.3 Low carbon steel - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Low carbon steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on Low carbon steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on Low carbon steel - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Low carbon steel - Year-over-year growth 2023-2028 (%)
    • 7.4 Medium carbon steel - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Medium carbon steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 65: Data Table on Medium carbon steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 66: Chart on Medium carbon steel - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Medium carbon steel - Year-over-year growth 2023-2028 (%)
    • 7.5 High carbon steel - Market size and forecast 2023-2028
      • Exhibit 68: Chart on High carbon steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 69: Data Table on High carbon steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 70: Chart on High carbon steel - Year-over-year growth 2023-2028 (%)
      • Exhibit 71: Data Table on High carbon steel - Year-over-year growth 2023-2028 (%)
    • 7.6 Market opportunity by Type
      • Exhibit 72: Market opportunity by Type ($ billion)
      • Exhibit 73: Data Table on Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 75: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 76: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 77: Chart on Geographic comparison
      • Exhibit 78: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 79: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 83: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 87: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.7 South America - Market size and forecast 2023-2028
      • Exhibit 95: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 99: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 India - Market size and forecast 2023-2028
      • Exhibit 103: Chart on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.10 US - Market size and forecast 2023-2028
      • Exhibit 107: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.11 Japan - Market size and forecast 2023-2028
      • Exhibit 111: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 112: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 113: Chart on Japan - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on Japan - Year-over-year growth 2023-2028 (%)
    • 9.12 South Korea - Market size and forecast 2023-2028
      • Exhibit 115: Chart on South Korea - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 116: Data Table on South Korea - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 117: Chart on South Korea - Year-over-year growth 2023-2028 (%)
      • Exhibit 118: Data Table on South Korea - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 119: Market opportunity by geography ($ billion)
      • Exhibit 120: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 121: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 122: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 123: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 124: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 125: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 126: Matrix on vendor position and classification
            • 12.3 ArcelorMittal
              • Exhibit 127: ArcelorMittal - Overview
              • Exhibit 128: ArcelorMittal - Business segments
              • Exhibit 129: ArcelorMittal - Key news
              • Exhibit 130: ArcelorMittal - Key offerings
              • Exhibit 131: ArcelorMittal - Segment focus
            • 12.4 Baosteel Group Corp.
              • Exhibit 132: Baosteel Group Corp. - Overview
              • Exhibit 133: Baosteel Group Corp. - Product / Service
              • Exhibit 134: Baosteel Group Corp. - Key offerings
            • 12.5 Cleveland Cliffs Inc.
              • Exhibit 135: Cleveland Cliffs Inc. - Overview
              • Exhibit 136: Cleveland Cliffs Inc. - Product / Service
              • Exhibit 137: Cleveland Cliffs Inc. - Key offerings
            • 12.6 Daido Steel Co. Ltd.
              • Exhibit 138: Daido Steel Co. Ltd. - Overview
              • Exhibit 139: Daido Steel Co. Ltd. - Business segments
              • Exhibit 140: Daido Steel Co. Ltd. - Key offerings
              • Exhibit 141: Daido Steel Co. Ltd. - Segment focus
            • 12.7 EVRAZ Plc
              • Exhibit 142: EVRAZ Plc - Overview
              • Exhibit 143: EVRAZ Plc - Business segments
              • Exhibit 144: EVRAZ Plc - Key offerings
              • Exhibit 145: EVRAZ Plc - Segment focus
            • 12.8 HBIS Group Co. Ltd.
              • Exhibit 146: HBIS Group Co. Ltd. - Overview
              • Exhibit 147: HBIS Group Co. Ltd. - Product / Service
              • Exhibit 148: HBIS Group Co. Ltd. - Key offerings
            • 12.9 Hudson Tool Steel
              • Exhibit 149: Hudson Tool Steel - Overview
              • Exhibit 150: Hudson Tool Steel - Product / Service
              • Exhibit 151: Hudson Tool Steel - Key offerings
            • 12.10 JFE Holdings Inc.
              • Exhibit 152: JFE Holdings Inc. - Overview
              • Exhibit 153: JFE Holdings Inc. - Business segments
              • Exhibit 154: JFE Holdings Inc. - Key news
              • Exhibit 155: JFE Holdings Inc. - Key offerings
              • Exhibit 156: JFE Holdings Inc. - Segment focus
            • 12.11 NACHI FUJIKOSHI Corp.
              • Exhibit 157: NACHI FUJIKOSHI Corp. - Overview
              • Exhibit 158: NACHI FUJIKOSHI Corp. - Business segments
              • Exhibit 159: NACHI FUJIKOSHI Corp. - Key news
              • Exhibit 160: NACHI FUJIKOSHI Corp. - Key offerings
              • Exhibit 161: NACHI FUJIKOSHI Corp. - Segment focus
            • 12.12 Nippon Steel Corp.
              • Exhibit 162: Nippon Steel Corp. - Overview
              • Exhibit 163: Nippon Steel Corp. - Business segments
              • Exhibit 164: Nippon Steel Corp. - Key offerings
              • Exhibit 165: Nippon Steel Corp. - Segment focus
            • 12.13 NLMK Group
              • Exhibit 166: NLMK Group - Overview
              • Exhibit 167: NLMK Group - Business segments
              • Exhibit 168: NLMK Group - Key offerings
              • Exhibit 169: NLMK Group - Segment focus
            • 12.14 Omega Steel Co.
              • Exhibit 170: Omega Steel Co. - Overview
              • Exhibit 171: Omega Steel Co. - Product / Service
              • Exhibit 172: Omega Steel Co. - Key offerings
            • 12.15 POSCO holdings Inc.
              • Exhibit 173: POSCO holdings Inc. - Overview
              • Exhibit 174: POSCO holdings Inc. - Product / Service
              • Exhibit 175: POSCO holdings Inc. - Key offerings
            • 12.16 Shandong Shounuo Metal Material Co. Ltd.
              • Exhibit 176: Shandong Shounuo Metal Material Co. Ltd. - Overview
              • Exhibit 177: Shandong Shounuo Metal Material Co. Ltd. - Product / Service
              • Exhibit 178: Shandong Shounuo Metal Material Co. Ltd. - Key offerings
            • 12.17 zq steel group Co. Ltd.
              • Exhibit 179: zq steel group Co. Ltd. - Overview
              • Exhibit 180: zq steel group Co. Ltd. - Product / Service
              • Exhibit 181: zq steel group Co. Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 182: Inclusions checklist
                • Exhibit 183: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 184: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 185: Research methodology
                • Exhibit 186: Validation techniques employed for market sizing
                • Exhibit 187: Information sources
              • 13.5 List of abbreviations
                • Exhibit 188: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
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              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
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              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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