Latest News- Carbon Steel Market: Construction is expected to lead the End-user segment during 2025-2029

The Carbon Steel Market is being driven by Growing demand for construction industry

The Carbon Steel Market is expected to grow at a CAGR of 3.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 197.5 billion. The global steel industry, comprising major players such as ArcelorMittal, Nippon Steel, POSCO, and Essar Steel, is undergoing a significant shift towards decarbonization. These industry leaders are investing heavily in innovative technologies and clean energy solutions to reduce their carbon footprint, which currently accounts for 7-9% of global greenhouse gas emissions. ArcelorMittal, for instance, has reduced its absolute scope 1 and 2 emissions by 46% between 2018 and 2024, primarily due to decreased production and an increase in electric arc furnace (EAF) steel production from 19% to 25% over the same period. The company has also invested over USD1 billion in decarbonization projects, demonstrating a strong commitment to sustainability and reducing its environmental impact. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Construction
  • Shipbuilding
  • Automotive
  • Transportation
  • Others
• Type
  • Low carbon steel
  • Medium carbon steel
  • High carbon steel
• Form Factor
  • Flat products
  • Long products
  • Tubular products
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for construction industry
• Increasing demand from shipbuilding industry
• Increasing demand for oil and gas industry

However, the market also witnesses some limitations, which are as follows:

• Volatile prices of raw materials
• Threat from substitutes such as metal and non-metal
• Stringent government regulations on reducing carbon emissions from steel production

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Market Scope in Carbon Steel Market Research Report

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Research Analysis Overview

The Carbon Steel Market encompasses various applications, including structural designs, automotive grades, and construction standards. It offers steel plates with diverse thicknesses and pipe diameters for industrial uses. Carbon steel is utilized in pressure vessels and tubing, with alloy steel alternatives and protective coatings for oxidation prevention. Stainless steel comparison is crucial for selecting suitable materials. Recycling methods are employed for carbon steel, but care is taken to avoid hydrogen embrittlement and stress corrosion cracking. Fracture mechanics analysis, finite element analysis, and fatigue life prediction aid in assessing carbon steel's performance. Welding techniques, such as arc and resistance methods, require quality control and metallographic examination for optimal results. Advanced analysis methods like electron microscopy, x-ray diffraction, and fracture surface analysis aid in material selection.

Market Research Overview

The Carbon Steel Market encompasses the production and sale of carbon steel alloys, including low carbon and high strength variants. Carbon steel alloys undergo a heat treatment process to enhance their properties, resulting in improved strength and durability. This market segment falls under the broader category of the metals and mining industry, which includes companies engaged in the extraction and production of various metals and minerals, such as non-ferrous metals and their alloys. Technavio's market analysis calculates the size of the diversified metals and mining market based on the combined revenue generated by these entities. Key metals and alloys in this sector include lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, zirconium, and their respective alloys.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/