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 2031.
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 analyzes that the global carbon steel market which was USD 2,102.79 million in 2023, is expected to reach USD 2,431.57 million by 2031, growing at a CAGR of 4.2% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022(Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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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), and Maanshan Iron and Steel Company Limited (China)
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Market Opportunities
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Market Definition
Carbon steel is a type of steel alloy that primarily consists of iron and carbon. It is one of the most common and widely used materials in the manufacturing and construction industries due to its durability and affordability. Carbon steel typically contains small amounts of other elements, such as manganese, sulfur, phosphorus, and silicon, but the carbon content is the most significant factor in determining its properties.
The carbon content in carbon steel typically ranges from about 0.05% to 2.0%. The amount of carbon in the alloy has a significant impact on the steel's hardness, strength, and other mechanical properties. Low-carbon steel (with lower carbon content) is more ductile and easy to weld but has lower hardness and strength, while high-carbon steel (with higher carbon content) is harder and stronger but less ductile and more challenging to weld.
Carbon steel is commonly used for a wide range of applications, including structural components, machinery, pipelines, automotive parts, tools, and more. Its versatility and relatively low cost make it a popular choice for various industrial and manufacturing purposes.
Global Carbon Steel Market Dynamics
Drivers
- 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 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
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
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In 2021, Nippon Steel & Sumitomo Metal Corporation unveiled the "NSSMC Beyond 2022" business strategy, signaling its intent to bolster global expansion and enhance market competitiveness. This strategic move is expected to drive growth in the carbon steel market
- In 2020, ArcelorMittal S.A. disclosed plans to invest approximately $500 million in a new steel plant in Mexico. This substantial investment aimed to fortify ArcelorMittal S.A.'s presence in the North American market and diversify its product portfolio
- In 2020, Tata Steel articulated its intentions to acquire the remaining 25.1% stake in Tata Steel BSL Limited, a subsidiary of Tata Steel, for $321 million. This acquisition was strategically designed to reinforce Tata Steel's position in the Indian market and broaden its range of products
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
Global Carbon Steel Market Regional Analysis/Insights
The carbon steel market is analyzed 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.
Asia-Pacific dominates the global 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.
North America is expected to have the highest growth rate in the global 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 Global 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)
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