Press release
Global Green Steel Market to Reach USD 189.82 Billion by 2032
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Global Green Steel Market Key Takeaways
- In terms of Process Type, Electric Arc Furnace segment is expected to contribute around 42.9% shares in the global market during the forecast period. This is owing to efficiency and versatility of green steel.
- By End-use Industry, in terms of market share, the automotive segment is expected to contribute for 39.2% of the market in 2025.
- As per Coherent Market Insights, Europe is estimated to hold about 39.6% share in the global market by 2025. This is owing to robust steel manufacturing industry.
- Coherent Market Insights forecasts that Asia Pacific is the leading region in the global green steel market during the forecast period. Countries like China, India, Vietnam, and Indonesia are considered the fastest-growing manufacturing sector.
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Driving Growth with Sustainable and Eco-Friendly Solutions
A new report by Coherent Market Insights outlines significant trends in the global green steel market. Rising environmental regulations and increasing focus on minimizing carbon emissions will drive demand. Countries are now adopting zero-emission policies and shifting towards green methods of production. The government is also supporting green and sustainable initiatives by policy push and funding.
High capital investment Restrict Growth.
The production of green steel needs high capital investment that will restrict market growth. It requires high capital investment to transform the existing steel production. Steel manufacturing is considered as a capital intensive techniques to start with and going green. The high price associate with the environmental innovation will restrict some companies to switch away due to high damaging cost and return on investment concerns. These factors will negatively impact competition and restrict the availability of green steel options.
Opportunities for Growth
Increasing the scope of R&D in green production will open a window of opportunity for the growth of the global green steel market. Companies are now investing in innovative research and development initiatives as the demand for green technologies progresses rapidly. Major companies are also conducting research that utilizes green hydrogen in place of coal. The successful implementation of this hydrogen-based steelmaking will provide a chance to transform the sector into a renewable industry.
Emerging Market Trends
- The increasing awareness of renewable energy and environment conservation is a rapidly growing trend with substantial market potential. According to Coherent Market Insights (CMI), the global sustainable material market is expected to be valued at US$ 357.18 billion in 2025 and is projected to exhibit a CAGR of 12% from 2025 to 2032.
- The carbon steel market is experiencing increased adoption, driven by growing demand from the automotive industry to make car bodies, engines, and more. Coherent Market Insights projects the carbon steel market to exhibit a CAGR of 3.6% over the forecast period, increasing from US$ 1,002.81 billion in 2023 to US$ 1,284.51 Bn by 2030.
Analyst's View
"The global green steel market is driven primarily by rising environmental concerns and stringent CO2 emission policies globally. Leading manufacturers are now investing in developing green steel production technologies. The two major opportunities in the market are adoption of hydrogen reduction instead of coke and installation of carbon capture utilization," said senior analyst Yash Doshi. "The market faces stiff competition from high investment cost required to transition integrated steel plants to green technologies."
Competitor Insights
Key green steel market players include:
- Ansteel Group
- ArcelorMittal
- Boston Metal
- China Baowu Group
- Cleveland-Cliffs
- H2 Green Steel
- Nippon Steel Corporation
- Nucor Corporation
- Steel Dynamics, Inc.
- United States Steel Corporation
- Jindal Stainless Limited
- Swiss Steel Group
Key Development
In December 2024, the Ministry of steel announced the Taxonomy for Green Steel in India. This new initiative aims to reduce carbon emissions in the steel industry.
In January 2024, Tata Steel announced that the company would start a statutory consultation to transform and restructure its UK business. The transformation will lead to secure the existing Tata Steel UK plant.
Transform your Strategy with Exclusive Trending Reports:
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Free Machining Steel Market [https://www.coherentmarketinsights.com/market-insight/free-machining-steel-market-5368]
Electrical Steel Market [https://www.coherentmarketinsights.com/market-insight/electrical-steel-market-3961]
About Us:
Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.
Contact Us:
Mr. Raj Shah Senior Client Partner - Business Development Coherent Market Insights
Phone:
US: + 12524771362
UK: +442039578553
AUS: +61-2-4786-0457
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https//www.coherentmarketinsights.com
Media Contact
Company Name: Coherent Market Insights
Contact Person: Mr. Raj Shah (Senior Client Partner - Business Development)
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=global-green-steel-market-to-reach-usd-18982-billion-by-2032]
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Website: https://www.coherentmarketinsights.com/
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