Steel Market Trends 2025-2032 - Future Role in Green Steel, Recycling, and Decarbonization Initiatives

DataM Intelligence has published a new research report on "Steel Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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The Steel market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.

Steel is a strong, durable alloy of iron and carbon widely used in construction, automotive, infrastructure, and manufacturing due to its versatility, recyclability, and high tensile strength.

Industry Developments:

In March 2025, ArcelorMittal Nippon Steel India acquired land in Andhra Pradesh to establish an integrated steel plant with an initial capacity of 7.3 million tonnes per annum. The project supports India's vision of reaching 300 million tonnes of crude steel capacity by 2030.

In January 2025, the Government of India launched a US$1.8 billion (₹15,000 crore) Green Steel Mission to reduce carbon emissions from the steel industry, which contributes 10-12% of the country's total emissions. The initiative includes a Production-Linked Incentive (PLI) scheme for green and specialty steel, promotion of green hydrogen, and mandatory procurement of green steel by government agencies.

In June 2024, Tata Steel Nederland introduced Zeremis Recycled, a steel product containing an allocated 30% recycled content. Designed for industries such as automotive, packaging, and construction, this innovation enables customers to claim recycled content at the product level while maintaining uncompromised steel quality supporting their circularity and sustainability goals.

Forecast Growth Projected:

The Global Steel Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Steel Market:

Baowu Group Corporation Limited, Nippon Corporation, Thyssenkrupp AG, Tata Sons Private Limited, JFE Steel Corporation, Hyundai Steel Co., Ltd., Nucor Corporation, JSW Limited, Pohang Iron and Steel Company, Jiangsu Shagang Group Company Limited and others.

Segment Covered in the Steel Market:

By Steel Type: (Carbon steel, Alloy steel, Stainless steel, Tool steel, Others)

By Product: (Flat, Long, Tubular)

By Manufacturing Process: (Basic Oxygen Furnace, Electric Arc Furnace)

By Application: (Industrial Structures, Building and Construction, Automotive, Electrical Appliances, Tools and Machinery, Others)

Regional Analysis:

The global Steel Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

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Regional Analysis:

The global Steel Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Steel Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Steel manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Steel in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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People Also Ask

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The Steel Market size was valued at US$1.47 trillion in 2024 and is projected to grow to US$2.11 trillion by 2032.

How quickly is the Steel Market expanding?

The Steel Market is forecasted to grow at a CAGR of 4.60% between 2025 and 2032, showing strong growth momentum

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