The global carbon steel market size is expected to reach USD 1,273.26 Billion in 2030 and register a steady revenue CAGR of 3.4% over the forecast period, according to latest analysis by Emergen Research. Steady carbon steel market revenue growth can be attributed to the positive outlook of the construction industry. Different forms of carbon steel have practically endless construction applications and are highly preferred for building frames in commercial, governmental, and residential structures is low-carbon steel. Low-carbon steel is used to make produce automotive components, steel pipes, bridges, nails, wires, and chains among others. Cutting tools, springs, coils, wrenches, hammers, and tools needed in construction and mechanical applications are produced using high-carbon steel due to greater hardness and durability.
The use of High-Strength, Low-Alloy (HSLA) steels contain other elements such as copper, nickel, vanadium, and molybdenum, and are frequently categorized as low-carbon steels. High-strength, low-alloy steels have greater strengths owing to heat treatment. These materials are ductile and are therefore simple to shape and machine. HSLAs are more corrosion-resistant than standard low-carbon steels.
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Some Key Highlights From the Report
- On 14 December 2021, Mill Steel Co., which is one of North America’s largest distributors of flat-rolled carbon steel, announced its full line of flat-rolled carbon steel products that is available for purchase through its e-Commerce website. The website features 65,000+ tons of steel available for purchase with full physical and chemical certification provided for each coil.
- Medium carbon steel segment is expected to register a rapid revenue growth rate over the forecast period. This is attributed to its increasing use in various applications owing to various benefits. Heat treatment can strengthen these metals, which have carbon contents of 0.25–0.6% and manganese levels of 0.6–1.6%, although this can only be done on very thin sections without the use of additional alloying elements. These steels are stronger, but less ductile when compared to lower-carbon steels. The use of medium-carbon steel is advantageous for items such as railroad tracks, train wheels, crankshafts, gears, and equipment parts that require higher strength and durability.
- The construction segment is expected to account for relatively large revenue share in the global market over the forecast period owing to increasing adoption of carbon steel for various applications. There are a number of benefits to using carbon steel in construction applications including due to high durability, strength, and shock resistance. Commercial, government, and residential constructions and buildings made of carbon steel are better suited to endure natural disasters such as earthquakes and tornadoes. In addition to being recyclable, reusable, and sustainable, carbon steel. Since carbon steel can be worked considerably more effectively than other metals, various products can be produced at less cost. It can be produced using less metal and still serve the same purpose, making it far less expensive than materials made of other metals, such copper.
Key Points of Carbon Steel Market:
- Extensive coverage of the analysis of the Carbon Steel market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Carbon Steel market
- Complete data about the key manufacturers and vendors in the Carbon Steel market
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Carbon Steel products is expected to drive the demand for Food Vacuum Machine, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
Leading Companies of the Carbon Steel Industry and Profiled in the Report are:
ArcelorMittal, HBIS Group, Nippon Steel Corporation, POSCO, United States Steel Corporation, EVRAZ plc, Baosteel Group, JFE Steel Corporation, NLMK, and AK Steel International B.V.
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Emergen Research has segmented the global carbon steel market on the basis of type, application, and region:
- Type Outlook (Revenue, USD Billion; 2019-2030) (Kilo Tons)
- Low Carbon Steel
- Medium Carbon Steel
- High Carbon Steel
- Application Outlook (Revenue, USD Billion; 2019-2030) (Kilo Tons)
- Shipbuilding
- Construction
- Automotive
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030) (Kilo Tons)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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