The carbon steel market is expected to reach USD 1161.98 billion by 2027, according to a new report from Reports and Data. The global carbon steel market is currently experiencing vigorous growth due to increased consumer demand for polymeric foams. Advancements in the aerospace industry in recent years and increasing space explorations are expected to drive the carbon steel market in addition to the full range of functions of carbon steel in a wide range of items such as flat-rolled sheets, structural steels, pipes and pressure vessels during the forecast period.
Growth in the electrical and electronics sector over the forecast period is expected to drive the market. The increasing use of lightweight advanced composites for next-generation aircraft and growing environmental concerns provide the aviation industry with substantial growth opportunities for carbon steel composites. The increase in construction solutions for buildings and infrastructure offered by steelmakers is expected to drive demand at a significant rate. In addition, the large-scale use of steel for rebar and structural parts, roofing and insulation panels in construction and infrastructure is expected to strengthen and drive the growth of carbon steels in the building sector. In addition, changing lifestyles coupled with increased consumption of packaged foods in developed countries is expected to increase the demand for light gauge flat carbon steels. An increasing number of R&D activities aimed at promoting carbon steel applications in developing regions are expected to have a positive effect on the growth in demand for advanced materials.
However, a decline in the utilization rate of steel resources, higher prices for lightweight materials in automobiles, and costly MRO (maintenance, repair and overhaul) services for carbon steel products aim to hamper the growth of the industry. carbon steel industry. Also, superior alternatives such as chromium-nickel stainless steels in the market will reduce the growth rate of carbon steels in the following years.
The impact of COVID-19:
The current COVID-19 (Coronavirus) pandemic is likely to lead to a possible slowdown in demand for carbon steel rebar. The disease not only halted exports and imports, but also halted production in many countries. Although it seems that China has not stopped production, Chinese steel export prices would be further reduced from the current level to keep pace with the new flow of production with a reduced take-off of segments domestic end users such as real estate, infrastructure projects, automotive, engineering goods, consumer durables and capital goods. There is also a drop in demand, and two factors are considered to be causing the demand problem: the first is the quarantine shock, and the second is a drop in demand following the crash economy in the medium term.
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Major participants are JFE Steel Group, Baosteel Group, AK Steel Corporation, NLMK, Nippon Steel Corporation, HBIS Group, POSCO, United States Steel, Evraz plc, Arcelor Mittal.
Other key findings from the report suggest
• Carbon steel has multiple infrastructure usages, where it is used in structural products, pipes, walls, gates and various structural parts, which greatly increases the scope for market growth in developing countries.
• The total value of the construction sector in 2019 accounted for 42.7% and is likely to play a vital role in increasing demand for the products. Growth in the non-residential sector is expected to be fueled by government spending to replace old infrastructure, including bridges, building structures and other transportation infrastructure.
• The growing emphasis on infrastructure development, especially in Asia-Pacific countries, is expected to boost product consumption in the coming years.
• The Indian government’s “Made in India” vision of prioritizing locally produced steel products and promoting domestic production is expected to have a positive effect on the Indian regional market.
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For the purposes of this report, the reports and data have segmented the global carbon steel market on the basis of type, application, form and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
• Low carbon content
• Medium carbon
• High carbon content
Application Outlook (Revenue, USD Billion; 2017-2027)
Shape Outlook (Revenue, USD billion; 2017-2027)
• Long steel
• Tubular steel
• Flat steel
Market Segmentation by Regions:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
Summary of key points from the report:
The Global Carbon Steel Market research report is an investigative study offering key insights into latest growth trends, developments, technological and product advancements, and research and development scenario. The report also covers market aspects that directly influence market growth. These characteristics include the strategies undertaken by the main players, their expansion tactics and the product portfolios of the companies, as well as the micro and macro factors.
The study also analyzes crucial aspects of the market including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and growth model at regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, production and consumption rates, gross income, profit margin, demand/supply ratio, import/export, market share, market size and market trends.
The Global Carbon Steel Market includes insightful and verified information regarding the overall market, major players along with their market position and financial condition. The report uses advanced analytical tools such as SWOT analysis, Porter’s five forces analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of key players Of the industry.
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To summarize everything stated above, the report offers key insights of the Carbon Steel market to enable the reader to gain a comprehensive understanding of the global Carbon Steel market through accurate estimations , a panoramic view of the market scenario, competitive landscape, growth influencing factors. of the market, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study provides an in-depth view of the industry to provide a competitive edge to the reader and help them formulate beneficial investment plans. The report provides a comprehensive market overview with facts relating to the past, present and future of the global carbon steel market.
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