Alloy Steel Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

The global market for Alloy Steel was estimated to be worth US$ 139 million in 2023 and is forecast to a readjusted size of US$ 154.5 million by 2030 with a CAGR of 1.5% during the forecast period 2024-2030

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Alloy steels are made by combining carbon steel with one or several alloying elements, such as manganese, silicon, nickel, titanium, copper, chromium and aluminum. These metals are added to produce specific properties that are not found in regular carbon steel. The elements are added in varying proportions (or combinations) making the material take on different aspects such as increased hardness, increased corrosion resistance, increased strength, improved formability (ductility); the weld ability can also change.

Global Alloy Steel key players include ArcelorMittal, Tsingshan, Baowu Group, Shanxi TISCO, NSSMC, etc. Global top five manufacturers hold a share over 20%.

China is the largest market, with a share over 50%, followed by Europe, and North America, both have a share about 15 percent.

In terms of product, Flat Products is the largest segment, with a share over 65%. And in terms of application, the largest application is Automotive, followed by Machinery, Oil and Gas, etc.

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By Type
• Flat Products
• Long/Tubular Products

By Application
• Automotive
• Machinery
• Oil and Gas

Key Players

ArcelorMittal, Tsingshan, Baowu Group, Shanxi TISCO, NSSMC, POSCO, Acerinox, Outokumpu, JFE Steel, Hesteel Group, Nucor Corporation, Hyundai Steel, Tata Steel, Ansteel Group, Shagang Group, ThyssenKrupp, JSW Steel Ltd, USSteel, Valin Steel Group, Maanshan Steel, NLMK Group, Evraz, Gerdau, Shougang, SAIL, Benxi Steel Group, Shandong Steel

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