Carbon Steel Market: Global Opportunity Analysis and Industry Forecast, 2022-2029

Carbon Steel Market Analysis 2020-2027:

The global carbon steel industry is currently witnessing robust development due to surge in demand for polymer foams. Carbon steel, also known as plain carbon steel, is an alloy that comprises carbon and iron. The alloy has a carbon content by weight of up to 2%. This carbon influence contributes alloy hardness. Carbon steel has multiple uses in infrastructure where it is used in frame materials, pipes, walls, gates, and various structural components, which enhance the market growth across developing nations. Furthermore, the steel usage in manufacturing of reinforcing bars & structural sections, roofing & insulation panels in building, and transportation is expected to accelerate, which, in turn, boosts the demand for carbon steels in the construction industry.

Key drivers of global carbon steel market

The steel industry is anticipated to be influenced by rise in demand from downstream sectors such as construction, infrastructure, and manufacturing. The steel industry is considered to be an essential factor of construction market. Improved emphasis on reducing the total cost of ownership of steel manufacturing operations has further resulted in improved use of energy, productive processing, and production operations. In addition to the broad spectrum, carbon steel functions in a wide variety of products, such as flat-rolled sheets, structural steels, pipes, and pressure vessels. Furthermore, development of the aerospace industry over the last few years and increase in space explorations are projected to boost the carbon steel demand during the forecast period.

Market scenario: opportunities and challenges

The introduction of new technologies motivated by the need in the production process to reach low cycle time. Manufacturers in emerging economies are increasingly implementing new technologies to boost productivity and increase in production volume. The growth of the electric & electronics industry is projected to boost the demand for carbon steel during the forecast period. Surge in use of lightweight engineered composites for next-generation aircraft and rise in environmental concerns provide significant growth opportunities for carbon steel market. However, a fall in the consumption ratio of steel capital, higher costs of lightweight materials in vehicles, and costly MRO facilities (maintenance, repair, and overhaul) for carbon steel goods are expected to obstruct the development of the carbon steel industry. Moreover, the ductility property that restricts the use of carbon steel for welding purposes acts as a key constrain of the market.

COVID-19 scenario analysis

Owing to the outbreak of the COVID-19 pandemic, the global carbon steel industry expects a slowdown. The disease has not only halted on export and import but also stopped production in many countries. Though it appears that China has not stopped its production, Chinese steel export prices would further decrease from the current level to keep pace with the fresh production flow. Decreased demand from construction and automotive industries is expected to exert downward pressure on steel prices. 

Key benefits of the report

• This study presents the analytical depiction of the global carbon steel industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global carbon steel market share.
• The current market is quantitatively analyzed from 2019 to 2027 to highlight the global carbon steel market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global carbon steel market research report:

• Which are the leading market players active in the global carbon steel market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Key Market Segments

 
Key Market Players

• Afarak Group
• ArcelorMittal S.A.
• Bushwick Metals LLC
• Continental Steel & Tube Co.
• Curtis Steel Co.
• Diler Holding A.S., Inc.
• Dongbei Special Steel Group Co., Ltd.
• Gruppo Lucefin
• Omega Steel Company
• Xinyu Iron & Steel Co., Ltd.