Flat Carbon Steel Market Size, New Business Opportunities, Growth Rate and Feasibility Studies up to 2030 | JSW, Dongkuk Steel, HYUNDAI STEEL

The global flat carbon steel market size was US$ 463.9 billion in 2021. The global flat carbon steel market is forecast to grow to US$ 701 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.

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Steel is one of the most crucial raw materials needed in the production of a wide range of products. Carbon steel is a low-carbon steel that is available in flat plates, sheets, and ingots with carbon content ranging from 0.04 percent to 0.30 percent. Carbon steel finds applications in gas and oil production.

Factors Influencing the Market

The wide range of applications of flat carbon steel in building and infrastructure development will initially drive the growth of the market. Further, growing awareness among consumers related to the benefits of flat carbon steel, such as design freedom, high strength, and low maintenance and construction costs, will also benefit the overall market during the forecast period.

The rapid expansion of the construction industry is a major driver of the global flat carbon steel market during the study period. The market is also expanding as a result of increased construction and infrastructure investments and rising urbanization.

Growing investments in infrastructure development will drive the demand for the flat carbon steel market. Further, the rising use of EVs is likely to create various opportunities for the flat carbon steel market during the study period. On the contrary, the variable cost of crude materials may restrict the growth of the market during the study period.

COVID-19 Impact Analysis

Due to the COVID-19 pandemic, the manufacturing industry experienced a substantial drop in terms of revenue. It was majorly due to the COVID-19 impact on the lives of the people. Moreover, this global emergency forced the units to halt their operations on a temporary basis, which lasted for more than a year in various countries. As a result, it hampered the growth of the flat carbon steel market. Moreover, the end-use industries of flat carbon steel, such as automotive, construction, mechanical equipment, etc., recorded sharp decline, which in turn impeded the demand for flat carbon steel.

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Regional Analysis

The Asia-Pacific flat carbon steel market is forecast to grow at a substantial growth rate, owing to the presence of various developing economies expected to bring lucrative growth opportunities for the market. Further, favourable initiatives by government bodies for infrastructural development will contribute to the growth of the flat carbon steel market during the study period. The flat carbon steel market may experience substantial growth in the region due to the presence of one of the largest automotive sectors in the region.

Competitors in the Market

? JSW
? Nippon Steel & Sumitomo Metal Corporation
? Dongkuk Steel
? HYUNDAI STEEL
? Dongbu Steel
? EVRAZ plc
? SAIL
? Baosteel Group
? Manshaan Steel
? Other Prominent Players

Market Segmentation

The global flat carbon steel market segmentation focuses on Type, End-User, and Region.

By Type
? Hot-rolled coils
? Plates
? Galvanized coils
? Cold rolled coils
? Others
By End-User
? Building and Infrastructure
? Automotive
? Mechanical Equipment
? Others

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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America

What is the goal of the report?

? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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