Carbon Steel Market to Generate $1.3 trillion by 2032 | Major Companies, Strategies and New Trends

Carbon steel infrastructures have seen an upsurge in investment. The constant need for building materials such as beams, angles, wire rods, and bars that are anticipated to be driven by development projects in India and ASEAN across the globe is anticipated to boost the expansion of the market.
It is expected that the expenditure for repair and rehabilitation anticipated account for a significant share of the total figures. It is expected to result in a considerable scope of demand being generated for carbon steel products. In the years to come, several producers are projected to place a greater emphasis on recycling carbon steel to satisfy the rise in demand, and to cut down on emissions and ensure longer-term sustainability.

The global carbon steel market size was valued at $0.9 trillion in 2022, and is projected to reach $1.3 trillion by 2032, growing at a CAGR of 3.6% from 2023 to 2032.

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Steel and an alloy with a minimum of 2.1% carbon content are called carbon steel. High, medium, and low carbon steel make up the three main classifications for carbon steel. Carbon steels often have low compressive strength and are soft. However, they have high ductility, making them perfect for welding and machining and being naturally cheap. Low-carbon steels are used in food cans, pipes, food structures such as angle iron and I-beams, automobile body parts, and building and bridge parts. Railway rails, train wheels, and equipment requiring great strength, wear resistance, and toughness are frequently made of medium-carbon steel. High-carbon steels are used in cutting tools, springs, and high-strength wire due to their excellent wear resistance and hardness.

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Alloying, quenching, and martempering may be used to improve the characteristics of carbon steel. It includes spheroidizing and other operations. Specific carbon steel may temper carbon steel in various end-user industries. Carbon steel has a reduced weldability factor with a high carbon content. However, adding carbon to steel makes it more robust and harder, making it a sought-after commodity for manufacturers in the construction and automotive industries.

Key Market Players:
Daido Steel Co., Ltd., ArcelorMittal, AK Steel International B.V., HBIS Group Co., Ltd., NLMK, Kobe Steel, Ltd., United States Steel Corporation, Marcegaglia, Dongbei Special Steel Group International Trade Co., Ltd., Nippon Steel Corporation.

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Carbon steel infrastructures have seen an upsurge in investment. The constant need for building materials such as beams, angles, wire rods, and bars that are anticipated to be driven by development projects in India and ASEAN across the globe is anticipated to boost the expansion of the market. It is expected that the expenditure for repair and rehabilitation anticipated account for a significant share of the total figures.
It is expected to result in a considerable scope of demand being generated for carbon steel products. In the years to come, several producers are projected to place a greater emphasis on recycling carbon steel to satisfy the rise in demand, and to cut down on emissions and ensure longer-term sustainability.

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