Global Carbon Steel Market: Analysis and Forecast 2022-2027
Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Carbon steel Industry Report
The global Carbon Steel industry was valued to be worth 1917.60 MMT in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 2 percent, achieving a value of around 2159.52 MMT by 2027.
The Carbon Steel industry report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features.
The industry has been dominated by the need for economical and tamper-evident shielding and wrapping in end-user industries such as food, consumer products, healthcare, consumer products, and industrial goods. The Middle East, Africa and Europe are the biggest category spender by region which is impelling the demand for the Carbon Steel industry.
Carbon Steel: Industry Definition and Segmentation
Carbon content is a metal primarily composed of metal and a carbon alloy. Carbon steel can also refer to steel that isn’t stainless steel and has a lower melting point, which is more durable. Carbon steel is a joint engineering and raw construction material for large-scale industrial applications.
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The Carbon Steel industry report comprises segments:
- By sector: Construction, Mechanical equipment, Automotive, Electrical Equipment, and Domestic Appliances
- By region: North America, Europe, Asia Pacific, the Middle East, Africa, and South America
Snapshot of the Report
The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
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The material’s widespread use in the construction industry is the primary driver of the industry. Flat-rolled sheets, structural steels, pipelines, pressure vessels, and a wide range of other products are made using carbon steel. As smart cities, tech parks, retail malls, and other public infrastructures such as hospitals, auditoriums, and schools are erected, demand for high-strength and cost-effective construction materials such as carbon steel is expanding.
As a result, the global market for carbon steel is growing. Developing country governments are enacting legislation and implementing infrastructure development plans and programmes. The government is constantly investing in infrastructure development research and development.
The government invests in infrastructure development to promote economic growth. Carbon steel demand is expected to rise because of these changes. The carbon steel market is likely to rise steadily throughout the forecast period due to the growing focus on infrastructure development.
Category Insight by Region
Due to the increasing use of carbon steel in the construction of bridges, fences, and buildings throughout the Asia Pacific area, the region owns the greatest share of the market.
Carbon steel is becoming more popular in end-use industries like construction, aviation, and autos. Countries like India, China, and Southeast Asia devote a significant portion of their budget to infrastructure development to boost overall economic growth. Furthermore, the growth of the shipbuilding industry is expected to fuel market expansion.
Best Procurement Practices
The global carbon steel industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major carbon steel products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
Carbon steel can be recycled, virgin, or a combination of both. To make virgin steel, iron ore, coke (coal burned without oxygen), and lime are mixed in a blast furnace at around 1650 °C. The molten iron recovered from the iron ore is enriched with carbon from the burning coke.
Slag is created when leftover impurities combine with lime and float to the surface of the molten metal, where it may be collected. The carbon content of molten steel is approximately 4% by weight. The carbon content is then reduced to the desired level by a process called as decarburization.
This is done by injecting oxygen into the melt, which oxidises the carbon in the steel and produces carbon monoxide and carbon dioxide.
Key Supplier Profiles included in the Global Carbon Steel Industry Report
The key market players are ArcelorMittal S.A., Hesteel Group Company Limited, Nippon Steel Corporation, POSCO, and United States Steel Corporation.
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.
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