New York, USA, Tue, 15 Mar 2022 02:24:12 / Comserve Inc. / – The carbon steel market is expected to mask a significant CAGR over the forecast period, i.e. say 2018-2027.
The global carbon steel market is segmented by type into carbon steel, alloy steel, stainless steel; by form in long steel, tubular steel, flat steel; by end-user industry in shipbuilding, automotive, infrastructure and transport, construction and by region. The carbon steel market is expected to hide a significant CAGR during the forecast period, i.e., 2018-2027.
Currently the world carbon steel market is growing dynamically owing to the growing demand for polymer foams in the market. Advancements in aerospace industry in recent years and increasing space explorations are expected to drive the carbon steel market in addition to the wide range of functions of carbon steel in a huge range of products such as sheet flat-rolled steels, structural steels, pipes and pressure vessels during the forecast period.
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Light gauge carbon flat steel is used in the food and beverage packaging industry, North America is witnessing substantial growth in the carbon steel market owing to increased consumption of packaged foods in the region. North America is expected to be followed by Europe in terms of consumption due to the growing presence of many automakers in the region. Asia-Pacific is expected to drive the demand and positively impact the carbon steel market growth over the forecast period owing to the increasing use of carbon steel for manufacturing fences , bridges and buildings in the region.
Growth of construction and building industry
The increase in construction solutions provided by steelmakers for buildings and infrastructure is expected to drive the market at a significant rate throughout the forecast period. Apart from this, the large-scale application of steel for rebar and structural sections, roofing and insulation board in buildings and infrastructure is expected to strengthen and boost the growth of carbon steels in the years to come.
Increase in consumption of packaged food and beverage industry
According to the World Steel Association, approximately 200 billion cans are produced each year. Also, changing lifestyle coupled with increasing consumption of packaged foods in developed countries is expected to increase the demand for light gauge flat carbon steels.
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However, decreasing steel capacity utilization rate, rising prices of lightweight materials in automobiles, and costly MRO (maintenance, repair and overhaul) services for carbon steel products are expected to hamper the market growth. carbon steel. Also, superior alternative like chromium nickel stainless steels present in the market may reduce the growth rate of carbon steels over the forecast period.
The report titled “Global Carbon Steel Market: Global Demand Analysis and Opportunity Outlook 2027” provides a detailed overview of the global carbon steel market in terms of market segmentation by type, shape, end-user industry, and regions.
Also, for the in-depth analysis, the report encompasses industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and five force model of Carry.
This report also provides the existing competitive scenario of some of the major players in the global carbon steel market which includes company profiling of Curtis Steel Co., Inc., Omega Steel Company, Afarak Group, ArcelorMittal SA, Bushwick Metals LLC , Nippon Steel & Sumitomo Metal Corporation, Tata Steel Group, BE Group AB, AK Steel Corp. and Celsa Group. Profiling contains key business information that encompasses an overview of businesses, products and services, key financial data, and recent news and developments. Overall, the report presents an in-depth overview of the Global Carbon Steel Market which will help industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new opportunity seekers and other stakeholders to align their market-centric strategies with current and expected developments. trends in the future.
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