Global Carbon Steel Market – Industry Trends and Forecast to 2029

Global Carbon Steel Market, By Type (Low Carbon Steel, Medium Carbon Steel, High Carbon Steel, Ultra-High Carbon Steel), Application (Shipbuilding, Construction, Automotive, Others), Product (Carbon Steel, Alloy Steel, Stainless Steel), Shape (Long Steel, Tabular Steel, Flat Steel) – Industry Trends and Forecast to 2029

Carbon Steel Market Analysis and Size

Steel is a versatile and widely used metal with a wide range of applications and uses. It is divided into two types: stainless steel and carbon steel. Carbon steel contains the element carbon and is classified as a 'low alloy' steel because it contains less than 10.5 percent chromium. It contains 0.60 to 2.00 percent carbon. If carbon is used in excess of 2%, it transforms into cast iron, which is used in Le Creuset cookware. It is not resistant to oxidation, unlike stainless steel. High carbon steel, despite being considered brittle by industry standards, can be used in a variety of applications.

Data Bridge Market Research analyses that the carbon steel market was valued at USD 1,873.56 nillion in 2021 and would reach an estimated value of USD 2,124.33 billion by the end of the forecast period at a CAGR of 4.0% during the forecast period. Data Bridge Market Research report on market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.  The carbon steel market report analyses the growth that is currently rising due to the construction industry's increasing growth worldwide.

Market Definition

Carbon steel is an alloy composed of steel and carbon, with carbon content greater than 2.1 percent. Carbon steel can be heat treated in a variety of ways to improve its basic properties, including spheroidizing, full annealing, isothermal annealing, quenching, martempering, and many others. Carbon steel can be used in a variety of end-use industries by tempering with the inherent properties of a specific type of carbon steel.

Carbon Steel Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

• Growing infrastructural development

The rising number of infrastructure developments, rising usages of the product in pipelines, frame materials, gates, fencing, and other applications, rising demand for polymer foams, and rising number of applications from aerospace and other end-use industries are some of the vital and impactful factors

Growing disposable income

Rapid urbanisation, rising levels of disposable income among people, rising adoption of light weight advanced composites for new generation aircrafts, and a growing number of environmental concerns will all contribute to the growth of the carbon steel market during the forecasted timeframe.

Opportunity

The rapid development of low bio-permanent materials, the emergence of applications in the aerospace and automotive industries, and the rise in concerns about energy conservation and greenhouse gas emissions across various countries are expected to provide a variety of growth opportunities for the high temperature insulation materials market during the forecast period.

Restraints

Volatility in the prices of lightweight materials, combined with a decreasing steel capacity utilisation ratio, will most likely act as market restraints for the growth of carbon steel during the forecasted timeframe. The easy availability of product substitutes will be the biggest and most pressing challenge to the market's growth.

This carbon steel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the carbon steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post COVID-19 Impact on Carbon Steel Market

The carbon steel materials market was impacted in a variety of ways as a result of the Covid-19 pandemic. Various legal restrictions existed around the world, which had a significant impact on the demand and growth of the carbon steel market. Production and sales activities were significantly disrupted, slowing the growth of the carbon steel market. However, the carbon steel market grew steadily by the end of 2020 and is expected to grow further and cover the industry's loss by the end of 2022.

Global Carbon Steel Market Scope

The carbon steel market is segmented on the basis of type, product, shape, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Low carbon steel
• Medium carbon steel
• High carbon steel
• Ultra-high carbon steel
• Others

Product

• Carbon steel
• Alloy steel
• Stainless steel
• Others

Shape

• Long steel
• Tabular steel
• Flat steel

Application

• Building and construction
• Automotive
• Shipbuilding
• Others

Carbon Steel Market Regional Analysis/Insights

The carbon steel market is analysed and market size insights and trends are provided by country type, product, shape, and application as referenced above.

The countries covered in the carbon steel market report are U.S., Canada ,Mexico, Germany, Italy, France, Spain, UK, Switzerland, Russia, Turkey, Belgium, Netherlands and Rest of Europe, China, India, Japan, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia-Pacific, Brazil, Argentina and Rest of South America., UAE, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.

China dominates the Asia-Pacific carbon steel market due to the growth of the shipbuilding industry, rising usages of the product in the construction and automotive sectors, and the presence of leading market players in the region. The United States is expected to have the highest growth rate in the North America carbon steel market due to the growth of the construction industry as well as rising usages of the product in various industries such as aviation, automotive, and others in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Carbon Steel Market Share Analysis

The carbon steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to carbon steel market.

Some of the major players operating in the carbon steel market are:

• NACHI-FUJIKOSHI CORP. (Japan)
• Daido Steel (Japan)
• voestalpine High Performance Metals GmbH (Austria)
• Sandvik AB (Sweden)
• Kennametal Inc. (US)
• Hudson Tool Steel Corporation (US)
• ERASTEEL (France)
• ArcelorMittal (Luxembourg)
• Baosteel Group Corporation (China)
• POSCO (South Korea)
• Nippon Steel & Sumitomo Metal Corporation (Japan)
• JFE Holdings, Inc. (Japan)
• TATA Steel Ltd.(India)
• United States Steel (U.S.)
• Angang Steel Company Limited (China)
• Gerdau SA (Brazil)
• Maanshan Iron and Steel Company Limited (China)