Sustainable (Recycled and Green) Steel Market Report- Expansive Coverage on the Profit Sources

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Sustainable (Recycled and Green) Steel Market- (By Product Type (Recycled Steel, and Green Steel); By Technology (Sustainable Steel, Green Steel)), By End-user, By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Sustainable (Recycled and Green) Steel Market is valued at US$ 335.4 Bn in 2023, and it is expected to reach US$ 604.3 Bn by 2031, with a CAGR of 7.8% during the forecast period of 2024-2031.

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Sustainable (recycled and green) steel is manufactured using environmentally responsible processes and materials, including the recycling of steel, which significantly reduces reliance on virgin raw materials and lowers overall energy consumption. Market growth is largely driven by stringent environmental regulations and rising demand for low-carbon construction materials. The sector is further bolstered by technological innovations in steel production, including hydrogen-based reduction methods and advanced recycling techniques.

Strategic collaborations and investments in green infrastructure initiatives are creating a favorable market environment, with a strong emphasis on sustainability and carbon footprint reduction across the steel industry. Although high production costs and regulatory compliance requirements remain challenges, advancements such as electric arc furnaces, hydrogen reduction technologies, and enhanced recycling processes have improved both the economic and environmental viability of sustainable steel production.

List of Prominent Players in the Sustainable (Recycled and Green) Steel Market:
• ArcelorMittal
• Commercial Metals Company (CMC)
• Gerdau S/A
• HBIS GROUP
• NIPPON STEEL CORPORATION
• Nucor Corporation
• Steel Dynamics
• Pascap Co. Inc.
• POSCO
• Radius Recycling, Inc.
• Tata Steel
• H2 green steel
• SSAB AB
• thyssenkrupp Steel Europe
• China Baowu Steel Group Corporation Limited
• Other Prominent Players

Market Dynamics:
Drivers:
The demand for sustainable (recycled and green) steel is increasing as industries place greater emphasis on minimizing environmental impact. Companies are adopting eco-friendly production practices in response to stricter regulations and heightened expectations from governments and stakeholders to achieve sustainability objectives. Utilizing recycled materials and renewable energy in steel manufacturing significantly reduces energy consumption and greenhouse gas emissions, further driving market growth.

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Challenges:
The expansion of the sustainable steel market is constrained by high production costs, limited renewable energy infrastructure, and variability in steel availability. Resistance from traditional steel manufacturers due to perceived costs and risks associated with sustainable production also poses a barrier. Additionally, ensuring that sustainable steel meets quality and performance standards comparable to conventional steel, alongside regulatory and market uncertainties, remains a key challenge for broader adoption.

Regional Trends:
North America is projected to capture a significant share of the sustainable steel market, supported by strong demand from the construction and automotive sectors, substantial investments in green technologies, and stringent environmental regulations. Efforts to reduce carbon emissions further reinforce market growth in the region. Europe likewise holds a prominent market position, driven by advanced recycling infrastructure, strong government support for sustainability initiatives, considerable investment in eco-friendly technologies, and ongoing technological innovations that continue to advance the global sustainable steel market.

Recent Developments:
• In May 2024, Siemens and HBIS agreed to build a digital green plant in Belgrade for HBIS Serbia. This is a brand-new joint venture for an intelligent green steel project in Serbia that will make it one of the most competitive steel mills in Europe. HBIS Chairman Yu Yong was present when HBIS Vice President Li Yiren and Siemens Advanta Global President Daniel Rui Felicio signed the deal.
• In June 2024, ArcelorMittal bought 65,243,206 shares in Vallourec from funds managed by Apollo Global Management, Inc. for €14.64 each share, for a total of about €955 million. This represents about 28.4 percent of Vallourec's equity. Regulatory clearances are still pending, but the deal is still projected to be finalized in the summer.

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Segmentation of Sustainable (Recycled and Green) Steel Market-
Sustainable (Recycled and Green) Steel Market-By End-User Application
• Transportation
• Building and Construction
• Furniture and Appliances
• Mechanical Equipment and Tools
• Packaging
• Others
Sustainable (Recycled and Green) Steel Market-By Product Type
• Recycled Steel
• Green Steel
Sustainable (Recycled and Green) Steel Market-By Technology
• Sustainable Steel
o Electric Arc Furnace (EAF)
o Blast Furnace-Basic Oxygen Furnace (BF-BOF)
o Others
• Green Steel
o Electric Arc Furnace (EAF)
o Renewable - Electric Arc Furnace (R-EAF)
o Hydrogen Direct Reduced Iron - Electric Arc Furnace (H2 DRI-EAF)
o Others
Sustainable (Recycled and Green) Steel Market-By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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