Carbon Steel Market by Grade (Low Grade, Medium Grade, and High Grade), Form (Hot Rolled and Cold Rolled), Application (Basic & Perforated Sheets, Bars & Rebars, Pipes & Tubes, Wire Rod, Normal Plates & Floor Plate, and Others), End-Use Industry (Automotive, Construction, Railways, Shipbuilding and Marine, Aerospace, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026649 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 950.0 billion mark in 2022 and is expected to hit US$ 1250.0 billion by 2030, recording a CAGR of 3.5% during the forecast period.

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Increasing carbon steel demand in construction drives market growth

Increasing carbon steel material demand in construction activities is expected to drive market growth. In addition, increasing governmental spending on building infrastructural facilities requiring the extensive usage of carbon-based steel bars is expected to fuel the material's demand. Furthermore, rising demand for carbon steel products such as ratchets, gears, and shafts is anticipated to augment the market growth. Also, shifting construction builders' preference from stainless steel bars to carbon steel bars due to their durability is expected to support the market's future development.     

Within the report, the global carbon black market is segmented based on grade, form, application, end-use industry, and geography. The global market is further segmented by grade into low, medium, and high grades. By form, the global market is segregated into hot rolled and cold rolled. Based on application, the market is segmented into basic & perforated steel, bars & rebars, pipes & tubes, wire rod, normal plates & floor plates, and others. By end-use industry, the market is segmented into automotive, construction, railways, shipbuilding & marine, aerospace, and others. Geographically, the global market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing demand for recyclable construction materials to augment market growth 

Easy recyclability and sustainability of carbon steel bars over stainless steel bars result in significant demand for such materials among global construction builders. In addition, increasing demand of using waterproof composites and other construction materials to enhance the durability of the structures is likely to augment the market growth. Carbon steel materials are used in producing various products such as basic & perforated steel, bars & rebars, pipes & tubes, wire rod, normal plates & floor plates, and others.

Increasing carbon steel material's usage in various industries to favor the market

Carbon steel is extensively used in automotive, construction, railways, shipbuilding, marine, and aerospace industries. Increasing adoption of innovative technology-based automotives requiring the usage of high-grade carbon steel during their construction is expected to drive the market growth. In addition, the rising carbon steel material demand in constructing marine structures is likely to augment the material's demand. Increasing material usage in other industries such as railways, shipbuilding, and aerospace also supports market growth.

Recent strategic developments in the carbon steel market

The carbon steel market has undergone several significant developments, and a few of these have been mentioned below:

  • In December 2019, ArcelorMittal acquired Essar Steel India Limited to expand its presence in the Indian carbon steel market.
  • In December 2021, Mill Steel Co. launched a line of flat-rolled carbon steel products in the North American market.

The carbon steel market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ArcelorMittal, Baosteel Group, Celsa Group, Curtis Steel Co., Inc., and EVRAZ plc. are the prominent players operating in the market.

The target audience for the report:

  • Carbon steel manufacturers
  • Carbon steel suppliers
  • Carbon steel distributors and exporters
  • End users of carbon steel
  • Chemicals & materials industry-related associations, organizations, forums, and alliances
  • Government bodies, such as policymakers and regulating authorities
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the global market has been segmented based on:

  • Grade:
    • Low Grade
    • Medium Grade
    • High Grade   
  • Form:
    • Hot Rolled
    • Cold Rolled     
  • Application:
    • Basic & Perforated Steel
    • Bars & Rebars
    • Pipes & Tubes
    • Wire Rod
    • Normal Plates & Floor Plate
    • Others      
  • End-Use Industry:
    • Automotive
    • Construction
    • Railways
    • Shipbuilding and Marine
    • Aerospace
    • Others      
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • ArcelorMittal
  • Baosteel Group
  • Celsa Group
  • Curtis Steel Co., Inc.
  • EVRAZ plc.

The List of Companies
- ArcelorMittal
- Baosteel Group
- Celsa Group
- Curtis Steel Co., Inc.
- EVRAZ plc.

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