Valuable Foresights on How Carbon Steel Market will Grow During 2015 - 2025
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Medium and high carbon steel is widely used in many common applications. High carbon steel are used to manufacture a wide range of tools and equipments which includes knives, saw blades, chains, brackets, wear parts,pneumatic drill bits, railway wheels, shear blades, wire for structural work and jaws for vices among others. Carbon steel is majorly used in manufacturing a range of cutting tools owing to their great hardness and brittleness. Carbon steel is used in sheeting and in various structural forms owing to its amenability to tooling and wielding. Carbon steel is also used to in the construction industry. Carbon steel is widely used in the construction of bridges. Thus, the growing construction industry is expected to drive the growth of the carbon steel market. Carbon steels also find applications in the automobile industry. Carbon steel is an important material used in the manufacturing of automobiles framework. The automobiles body is usually manufactured using carbon steel. Carbon steel is used in manufacturing ships and rail roads.Thus, the growing automobile industry is expected to boost the overall demand for carbon steel market.
Asia Pacific is the largest manufacturer of carbon steel. Presence of many carbon steel manufacturers in China is expected to boost the overall demand for carbon steel market. Asia Pacific is also the largest consumer of carbon steel. The increase in urbanization coupled with the growing economies in the region is expected to augment the overall demand for carbon steel in the region. Asia Pacific is followed by Europe in terms of consumption of carbon steel. Presence of many automobile manufacturers in the region is expected to boost the demand for carbon steel in the region. The demand for carbon steel is expected to grow rapidly owing to the high demand for the steel alloy in the railway and ship industry.
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Curtis Steel Co., Inc., Omega Steel Company, Afarak Group, ArcelorMittal SA and Bushwick Metals LLC are some of the participants of the global carbon steel market.
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