Green Steel Market Gets Real: Boston Metal and ArcelorMittal Make Bold Move Toward Decarbonization

Global Green Steel Market reached US$ 201.3 million in 2022 and is expected to reach US$ 140,435.7 million by 2031, growing with a CAGR of 126.7% during the forecast period 2024-2031.

The Green Steel Market report, released by DataM Intelligence, offers comprehensive insights and thorough analysis of major market trends, growth prospects, and emerging challenges. With a strong focus on actionable intelligence, DataM Intelligence equips businesses with the knowledge needed to make strategic decisions and maintain a competitive advantage. Utilizing a blend of qualitative and quantitative research methodologies, the firm delivers in-depth reports that support clients in understanding complex market dynamics, fostering strategic development, and capturing new opportunities in today's rapidly changing global environment.

Request a Premium Sample PDF of This Report (Corporate Email IDs Receive Priority Service): https://datamintelligence.com/download-sample/green-steel-market?kb

Evolving Market Forces and Opportunities:

Green steel refers to steel that is produced using environmentally sustainable methods that significantly reduce or eliminate carbon dioxide (CO2) emissions, compared to traditional steelmaking processes.

Instead of relying on coal-based blast furnaces, green steel is typically made using renewable energy sources (like solar or wind) and alternative reduction methods such as:

✦ Hydrogen-based direct reduced iron (DRI)

✦ Electric arc furnaces (EAF) powered by green electricity

✦ Carbon capture, utilization, and storage (CCUS) technologies

The goal of green steel is to decarbonize the steel industry, which is one of the world's largest contributors to greenhouse gas emissions, and support global efforts toward climate neutrality and sustainable industrial development.

Key Industry Players Driving the Green Steel Market:

H2 Green Steel, Tata Steel Ltd., ArcelorMittal, Voestalpine, Boston Metal, Nucor Corporation, SSAB, Nippon Steel Corporation, JFE Steel Corporation and Salzgitter AG.

Industry Development:

On January 27, 2023, ArcelorMittal announced a $36 million investment in Boston Metal-its largest initial investment to date through the XCarbTM Innovation Fund. Launched in March 2021, the fund is dedicated to supporting breakthrough technologies that can drive meaningful progress in the decarbonization of the steel industry, a transformation ArcelorMittal is determined to lead.

Research Methodology:

Both primary and secondary data sources have been used in the global Green Steel Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Make an Enquiry for purchasing this Report @ https://www.datamintelligence.com/enquiry/green-steel-market?kb

Segment Covered in the Green Steel Market:

By Type: Electric Arc Furnace (EAF), Molten Oxide Electrolysis (MOE)

By Energy Resource: Hydrogen, Coal Gasification and Electricity

By End-User: Construction, Automotive, Electronics, Industrial Equipment and Others

Regional Overview for Green Steel Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

Speak to Our Analyst and Get Customization in the report as per your requirements: https://datamintelligence.com/customize/green-steel-market?kb

People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Green Steel market?

➠ Who are the leading manufacturers in the global Green Steel industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Green Steel industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Green Steel market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

Stay informed with the latest industry insights-start your subscription now: https://www.datamintelligence.com/reports-subscription?kb

Contact Us -

Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -

DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.