The global carbon steel market size was valued at $0.9 trillion in 2022, and is projected to reach $1.3 trillion by 2032, growing at a CAGR of 3.6% from 2023 to 2032.
Carbon steel is a type of steel that primarily consists of iron and carbon, with trace amounts of other elements. This type of steel is the most popular and frequently encountered in a variety of sectors due to its low cost and favorable mechanical qualities. Carbon steel typically has a carbon percentage ranging from 0.05 percent to 2.0 percent. It is categorized into three main types based on its carbon content: low carbon steel, medium carbon steel, and high carbon steel. Carbon steel is used in a wide range of sectors, Including construction, automotive, equipment, infrastructure, oil and gas, and others. It can be found in tools, pipelines, bridges, structural elements, and many pieces of industrial machinery.
The wide utilization of carbon steel in the automobile industry drives the growth of the market. Carbon steel is an effective material for structural elements and parts that require high load-bearing capacity due to its superior strength and durability. It can withstand the strains and forces applied to the vehicle's chassis, suspension, and different structural reinforcements. Carbon steel is used for producing various structural elements, Including chassis, body panels, frame rails, and reinforcing bars. It is ideal for supporting the vehicle's weight and retaining structural integrity due to its prominent levels of strength, stiffness, and durability. Moreover, carbon steel is cheaper when compared to other materials like aluminum or modern high-strength steel. Because of its lower cost, it is frequently used for large-scale production in the automobile sector, where cost-effectiveness is vital.
Manufacturers can efficiently shape carbon steel into intricate parts and components as it is simple to form, mold, and weld. It has good ductility, allowing for the development of complex designs and customization for various vehicle models. It is an excellent choice for ensuring crash protection and occupant safety in automobiles due to its great strength and impact resistance. It can absorb and release energy during crashes, reducing the risk of deformation and safeguarding the passengers. Therefore, the carbon steel market is expanding due to the widespread use of carbon steel in the automobile industry and its advantageous mechanical properties, affordability, and adaptability.
The rise in infrastructural development has boosted the demand for carbon steel as it is widely used in residential and commercial buildings. The construction of structural components, Including beams, columns, and load-bearing parts, often requires carbon steel. It can support enormous loads and provide stability to structures and buildings due to its tremendous strength. In addition, concrete foundations, slabs, walls, and beams are all reinforced with carbon steel rebars. They Increase the concrete's tensile strength and resilience, ensuring structural integrity and resistance to collapse or cracking.
Bolts, screws, nails, and anchors are just a few examples of the different connectors and fasteners used in construction. These fasteners offer dependable connections between various building components, such as wooden, concrete, or steel ones. Furthermore, in HVAC systems, carbon steel ductwork is frequently used to deliver conditioned air throughout buildings. The durability and long life of carbon steel ducts are ensured by the material's resistance to temperature fluctuations, as well as its strength and rigidity. Carbon steel is frequently used in the construction of stairways, handrails, and balustrades due to its structural durability and aesthetically pleasing appearance. It can be molded into many different patterns and finishes, offering both safety and aesthetic appeal. Owing to these factors, the demand for the carbon steel market will Increase significantly during the forecast period. The complex manufacturing process of carbon steel restrains the growth of the market. Iron ore, coal, and other raw materials used in carbon steel production can have a wide range of qualities and characteristics. Variations in the chemical composition, impurity content, and physical attributes of these components might impact the final properties of the steel.
The carbon steel market is divided on the basis of type, product, end-use industry, and region. On the basis of type, the market is classified into low carbon steel, medium carbon steel, high carbon steel, and others. On the basis of product, the market is classified into carbon steel, alloy steel, and stainless steel. On the basis of the end-use industry, the market is segregated into building and construction, automotive, shipbuilding, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global carbon steel market are AK Steel International B.V., ArcelorMittal, Daido Steel Co., Ltd., Dongbei Special Steel Group International Trade Co., Ltd., HBIS Group, Kobe Steel, Ltd., Marcegaglia, Nippon Steel Corporation, NLMK, and United States Steel Corporation.
Carbon steel is a type of steel that primarily consists of iron and carbon, with trace amounts of other elements. This type of steel is the most popular and frequently encountered in a variety of sectors due to its low cost and favorable mechanical qualities. Carbon steel typically has a carbon percentage ranging from 0.05 percent to 2.0 percent. It is categorized into three main types based on its carbon content: low carbon steel, medium carbon steel, and high carbon steel. Carbon steel is used in a wide range of sectors, Including construction, automotive, equipment, infrastructure, oil and gas, and others. It can be found in tools, pipelines, bridges, structural elements, and many pieces of industrial machinery.
The wide utilization of carbon steel in the automobile industry drives the growth of the market. Carbon steel is an effective material for structural elements and parts that require high load-bearing capacity due to its superior strength and durability. It can withstand the strains and forces applied to the vehicle's chassis, suspension, and different structural reinforcements. Carbon steel is used for producing various structural elements, Including chassis, body panels, frame rails, and reinforcing bars. It is ideal for supporting the vehicle's weight and retaining structural integrity due to its prominent levels of strength, stiffness, and durability. Moreover, carbon steel is cheaper when compared to other materials like aluminum or modern high-strength steel. Because of its lower cost, it is frequently used for large-scale production in the automobile sector, where cost-effectiveness is vital.
Manufacturers can efficiently shape carbon steel into intricate parts and components as it is simple to form, mold, and weld. It has good ductility, allowing for the development of complex designs and customization for various vehicle models. It is an excellent choice for ensuring crash protection and occupant safety in automobiles due to its great strength and impact resistance. It can absorb and release energy during crashes, reducing the risk of deformation and safeguarding the passengers. Therefore, the carbon steel market is expanding due to the widespread use of carbon steel in the automobile industry and its advantageous mechanical properties, affordability, and adaptability.
The rise in infrastructural development has boosted the demand for carbon steel as it is widely used in residential and commercial buildings. The construction of structural components, Including beams, columns, and load-bearing parts, often requires carbon steel. It can support enormous loads and provide stability to structures and buildings due to its tremendous strength. In addition, concrete foundations, slabs, walls, and beams are all reinforced with carbon steel rebars. They Increase the concrete's tensile strength and resilience, ensuring structural integrity and resistance to collapse or cracking.
Bolts, screws, nails, and anchors are just a few examples of the different connectors and fasteners used in construction. These fasteners offer dependable connections between various building components, such as wooden, concrete, or steel ones. Furthermore, in HVAC systems, carbon steel ductwork is frequently used to deliver conditioned air throughout buildings. The durability and long life of carbon steel ducts are ensured by the material's resistance to temperature fluctuations, as well as its strength and rigidity. Carbon steel is frequently used in the construction of stairways, handrails, and balustrades due to its structural durability and aesthetically pleasing appearance. It can be molded into many different patterns and finishes, offering both safety and aesthetic appeal. Owing to these factors, the demand for the carbon steel market will Increase significantly during the forecast period. The complex manufacturing process of carbon steel restrains the growth of the market. Iron ore, coal, and other raw materials used in carbon steel production can have a wide range of qualities and characteristics. Variations in the chemical composition, impurity content, and physical attributes of these components might impact the final properties of the steel.
The carbon steel market is divided on the basis of type, product, end-use industry, and region. On the basis of type, the market is classified into low carbon steel, medium carbon steel, high carbon steel, and others. On the basis of product, the market is classified into carbon steel, alloy steel, and stainless steel. On the basis of the end-use industry, the market is segregated into building and construction, automotive, shipbuilding, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global carbon steel market are AK Steel International B.V., ArcelorMittal, Daido Steel Co., Ltd., Dongbei Special Steel Group International Trade Co., Ltd., HBIS Group, Kobe Steel, Ltd., Marcegaglia, Nippon Steel Corporation, NLMK, and United States Steel Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carbon steel market analysis from 2022 to 2032 to identify the prevailing carbon steel market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the carbon steel market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global carbon steel market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Low carbon steel
- Medium carbon steel
- High carbon steel
- Others
By End user
- Building and construction
- Automotive
- Shipbuilding
- Others
By Product
- Carbon steel
- Alloy steel
- Stainless steel
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- Spain
- UK
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- AK Steel International B.V.
- ArcelorMittal
- Daido Steel Co., Ltd.
- Dongbei Special Steel Group International Trade Co., Ltd.
- HBIS Group Co., Ltd.
- Kobe Steel, Ltd.
- Marcegaglia
- Nippon Steel Corporation
- NLMK
- United States Steel Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CARBON STEEL MARKET, BY TYPE
CHAPTER 5: CARBON STEEL MARKET, BY END USER
CHAPTER 6: CARBON STEEL MARKET, BY PRODUCT
CHAPTER 7: CARBON STEEL MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Carbon Steel Market' The carbon steel market size was valued at $0.9 trillion in 2022, and is estimated to reach $1.3 trillion by 2032, growing at a CAGR of 3.6% from 2023 to 2032.Carbon steel is a versatile and widely used material that plays a crucial role in various industries. It is a type of steel that primarily consists of iron and carbon, with trace amounts of other elements. With its favorable mechanical qualities, affordability, and adaptability, carbon steel has become the most popular and frequently encountered steel in sectors such as construction, automotive, equipment manufacturing, infrastructure development, and oil and gas. One of the key reasons for the widespread utilization of carbon steel is its exceptional strength and durability. It is an effective material for structural elements and parts that require high load-bearing capacity, making it ideal for applications in the automobile industry. Carbon steel can withstand the strains and forces applied to vehicle chassis, suspension systems, and structural reinforcements. Its prominent levels of strength, stiffness, and durability enable it to support the weight of vehicles and maintain structural integrity.
Furthermore, carbon steel's cost-effectiveness makes it a preferred choice, especially in large-scale production in the automobile sector. Compared to other materials like aluminum or modern high-strength steel, carbon steel is significantly cheaper. This affordability factor allows manufacturers to produce vehicles at a lower cost, meeting the demands of cost-conscious consumers without compromising on quality and safety.
The rising construction and infrastructure projects worldwide and the shortage of natural sand are two significant factors expected to drive the carbon steel market. The initiation of construction and infrastructure projects in various countries is expected to boost the demand for construction aggregates due to their beneficial properties. As natural resources continue to deplete, construction aggregates are emerging as a viable option. They are one of the components of every construction project and are expected to drive market growth during the forecast period. Aggregates are widely used in construction and include most of the materials used in this sector. With an increase in demand for steel, the production of steel has also witnessed a rise in countries like China, India, and the U.S. These are some of the highest producers and largest consumers of the carbon steel market. The restraints in the growth of the global carbon steel market are volatility in raw material prices and with high production, the profit margin has significantly decreased for steel manufacturers. The price fluctuation caused huge losses to importers. In addition, the high cost of logistics involved with steel and its associated products. The cost of logistics is determined by the Baltic dry index. With the increase in the logistics cost at times the higher cost is to be paid by exporting nation.
The carbon steel market is divided on the basis of type, product, end-user, and region. On the basis of type, the market is classified into low carbon steel, medium carbon steel, high carbon steel, and others. On the basis of product, the market is classified into carbon steel, alloy steel, and stainless steel. On the basis of the end-user, the market is segregated into building and construction, automotive, shipbuilding, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global carbon steel market are AK Steel International B.V., ArcelorMittal S.A., Daido Steel Co., Ltd., Dongbei Special Steel Group International Trade Co., Ltd., HBIS Group Co., Ltd., Kobe Steel, Ltd., Marcegaglia, Nippon Steel Corporation, NLMK, and United States Steel Corporation. These players have adopted various key strategies including agreement, collaboration, expansion, and partnership to increase their market shares.
Key Developmental Strategies Undertaken by Key Players
In 2021, Nippon Steel & Sumitomo Metal Corporation announced a new business strategy called 'NSSMC Beyond 2022' aimed at expanding its business globally and strengthening its competitiveness in the market.In 2020, ArcelorMittal S.A. announced its plans to invest around $500 Million in a new steel plant in Mexico. The investment was aimed at expanding ArcelorMittal S.A. presences in the North American market and strengthening its product portfolio.
In 2020, U.S. Steel Corporation announced a $1.2 Billion investment to construct a new sustainable endless casting and rolling facility in Pennsylvania. The investment was aimed at improving operational efficiency of the companies and reducing their environmental footprint.
In 2020, Tata Steel announced its plans to acquire the remaining 25.1% stake in Tata Steel BSL Limited, a subsidiary of Tata Steel, for $321 Million. The acquisition was aimed at strengthening Tata Steel position in the Indian market and expanding its product portfolio.
In 2020, China Baowu Steel Group Corp., Ltd. announced its plans to merge with Magang (Group) Holding Co., Ltd. The merger was valued at around $2.8 Billion and aimed to expand China Baowu product offerings and strengthen its competitiveness in the market.
Key findings of the study
Asia-Pacific would exhibit CAGR of 3.8% during 2023-2032.- By product, the stainless-steel segment was the leading segment in 2022.
- By type, the low-carbon steel segment was the leading segment in 2022.
- By end-user, the building and construction segment was the dominating segment in 2022.
Companies Mentioned
- AK Steel International B.V.
- ArcelorMittal
- Daido Steel Co., Ltd.
- Dongbei Special Steel Group International Trade Co., Ltd.
- HBIS Group Co., Ltd.
- Kobe Steel, Ltd.
- Marcegaglia
- Nippon Steel Corporation
- NLMK
- United States Steel Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 354 |
| Published | June 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 0.9 trillion |
| Forecasted Market Value ( USD | $ 1.3 trillion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
