Carbon Steel Market Intelligence and Business Growth: Comprehensive Analysis of Demand, Sales, and Production 2023-2030 | ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC)

The carbon steel market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Carbon steel is a low-cost steel alloy composed of iron and carbon. It is one of the most widely used metals in industries such as construction, shipbuilding, railway, automotive, and manufacturing. Carbon steel possesses mechanical properties such as strength, hardness, and durability.

Market Dynamics:

The carbon steel market is expected to grow at a significant rate over the forecast period, owing to increasing demand from the construction industry across developing regions. Carbon steel is widely used in infrastructure development projects such as roads, bridges, ports, railways, and buildings. According to the United Nations, the world population is projected to reach 9.7 billion by 2050 with 68% living in urban areas. This rapid urbanization is fueling demand for new residential and commercial construction, which in turn is driving the carbon steel market. Additionally, growing investments by governments around the world to upgrade aging infrastructure is also propelling market growth. For instance, in 2020, the U.S. government approved a $1 trillion infrastructure investment plan to modernize roads, bridges, and ports.

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Top Companies Covered In This Report:

★ ArcelorMittal
★ Nippon Steel & Sumitomo Metal Corporation (NSSMC)
★ POSCO
★ Tata Steel
★ Baowu Group (China Baowu
★ Steel Group Corp.)
★ JFE Steel Corporation
★ JSW Steel
★ United States Steel Corporation (U.S. Steel)
★ Shagang Group
★ Ansteel Group

Detailed Segmentation:

By Carbon Content:

★ Low Carbon Steel (Mild Steel)
★ Medium Carbon Steel
★ High Carbon Steel

By End-use Industry:

★ Construction
★ Automotive
★ Oil & Gas
★ Energy
★ Consumer Goods
★ Shipbuilding
★ Others

By Form:

★ Flat Products
★ Long Products
★ Tubular Products

By Process:

★ Basic Oxygen Furnace (BOF)
★ Electric Arc Furnace (EAF)

By Treatment:

★ Cold Rolled
★ Hot Rolled
★ Galvanized
★ Annealed

By Applications:

★ Tools
★ Pipes & Tubes
★ Construction Hardware
★ Structural

Key Region/Countries are Classified as Follows:

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ South America (Brazil, Argentina, Colombia, etc.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Increased Demand for Construction Materials is Driving Growth in the Carbon Steel Market

The global construction industry has seen significant growth over the past few years which has increased the demand for various construction materials including carbon steel. Carbon steel finds wide application in the construction of buildings, bridges, infrastructure projects etc due to its high strength, low cost and corrosion resistance properties. The growing population globally has led to rapid urbanization and investments in infrastructure development which is one of the key factors boosting the sales of carbon steel. Additionally, the rising disposable incomes and improving economic conditions in developing countries are encouraging more spending on residential and commercial construction activities thereby augmenting carbon steel consumption.

Frequent Price Volatility of Raw Materials is A Major Restraining Factor

One of the major challenges faced by carbon steel manufacturers is the price volatility of key raw materials used in production. Steel mills are highly dependent on raw materials like iron ore and coking coal for manufacturing carbon steel. However, the prices of these commodities fluctuate frequently depending on various global economic and geopolitical factors beyond the control of manufacturers. Unanticipated hikes in input costs put pressure on the margins and profits of steel producers. At times, rising raw material prices compel companies to increase the selling price of carbon steel to maintain feasibility which impacts its demand. The unpredictability associated with commodity pricing makes accurate costing and long-term planning difficult for carbon steel suppliers.

Emerging Opportunities in the Automotive Sector

The growing automotive industry worldwide presents significant opportunities for growth in the carbon steel market. Carbon steel finds extensive application in the manufacturing of automobile bodies, chassis, suspension systems, drive shafts, and other structural components due to its high strength-to-weight ratio and formability. With rising disposable incomes, more consumers are investing in personal vehicles for private transport which is propelling automotive production. Key trends like rising electric vehicle adoption and focus on lightweighting for improved fuel efficiency are also supporting carbon steel demand from automakers. The evolving emission standards along with technological advancements are prompting OEMs to use advanced high-strength steel grades in automotive fabrication for upgraded safety and performance. This acts as a major tailwind for carbon steel suppliers.

Increasing Adoption of High-Strength Steel Grades

One of the major trends being witnessed in the carbon steel market is the increasing demand and production of advanced high-strength steel grades across different industries. Compared to conventional carbon steel grades, newer high-strength variants offer higher strength, ductility and formability along with weight reduction. Their usage allows structural components and equipment to be designed more efficiently and cost-effectively. With growing environmental regulations regarding fuel efficiency and emission norms, industries like automotive and construction have started widely adopting high-strength steel grades. The emergence of Industry 4.0 is also augmenting automation in steel production, thereby facilitating optimal manufacturing of advanced steel variants on a large scale. This shift towards newer premium grades of carbon steel is expected to drive lucrative market opportunities in the coming years.

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Key Questions Answered in This Report on Carbon Steel Market

• How much revenue will the global Carbon Steel Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall global market?

• What are the indicators expected to drive the global Carbon Steel Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Market to expand their geographical presence?

• What are the major advancements witnessed in the global Carbon Steel Market?

• This report answers these questions and more about the global Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Carbon Steel Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle-East and Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.