Global Flat Carbon Steel Market Scope Report

Global Flat Carbon Steel Market Highlights Over 2023 - 2035

The global flat carbon steel market is estimated to garner a revenue of USD 691 Billion by the end of 2035 by growing at a CAGR of ~3% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 478 Billion in the year 2022. The growth of the market can be attributed to growing construction industry. Rise in global population and rapid industrialization has increased investments in infrastructure. According to the report, the world’s two most populous regions in 2022 were Eastern and South-Eastern Asia, with 2.3 billion people, representing 29% of the global population, and Central and Southern Asia, with 2.1 billion (26%). China and India accounted for the largest populations, with more than 1.4 billion each in 2022. Central and Southern Asia is expected to become the most populous region in the world by 2037.

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Carbon steel is used in gas and oil production on account of its fabrications, accessibility and affordable price compared to others. It is moldable and adaptable and has comparatively low tensile strength. Some of the prominent applications of flat carbon steel consist of the automotive & transport, and energy industries.  According to the International Energy Agency (IEA), consumption of natural gas in India is expected to grow by 25 BCM, registering an average annual growth of 9% until 2024.

Global Flat Carbon Steel Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Government Investment on Infrastructure Development - In November 2021, the Asian Development Bank (ADB) has approved a USD 250-million loan to support development of the National Industrial Corridor Development Programme (NICDP). This is a part of the USD 500 million loan to build 11 industrial corridors bridging 17 states.

• Growing Demand for Production of Consumer Appliances - As of 2021, the refrigerator, washing machines and air conditioner market in India were estimated at around USD 3.82 billion, USD 8.43 billion and USD 3.84 billion, respectively.

• Growth of Automotive Industries - As per the reports of International Energy Agency, the number of electric vehicles sales in 2021 surpassed sales of year 2020, with nearly doubling to 6.6 million.

• Rapid Increase in Urbanization - India’s urban population to rise by nearly 230 million; it will take only half that time to add the next 250 million.

Challenges

• Fluctuating Expenses of Crude Materials

• Production of Carbon Steel is Highly Capital - Intensive

The flat carbon steel market is segmented and analyzed for demand and supply by end user into building and infrastructure, automotive, mechanical equipment, and others. Out of these, automotive segment is anticipated to hold the largest share over the forecast period, owing to the, rapid urbanization and high demand for passenger cars. According to IEA, in 2020, the number of new EVs registered globally increased 41% as compared to 2019.

Global Flat Carbon Steel Market Regional Synopsis

Regionally, the global flat carbon steel market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2035, on the back of, increasing manufacturing and production hub in the countries like, China, India, Japan and others. According to the reports of IBEF, in India, between January- June 2022, export of top 10 major commodities stood at USD 190.4 billion. The growing export and import of goods is estimated to generate massive growth opportunities for the market in the APAC region.

Market Segmentation

Our in-depth analysis of the global flat carbon steel market includes the following segments:

Key Companies Dominating the Global Flat Carbon Steel Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global flat carbon steel market that are included in our report are POSCO Steel, Arcelor Mittal, Tata Steel Limited, JFE Steel Corporation, Dongkuk Steel India, Voestalpine High Performance Metals India Pvt. Ltd., Hyundai Steel, Baosteel Group, Nippon Steel, Hesteel Group, and others.

Global Flat Carbon Steel Market: Latest Developments

• August, 2022: JEF Steel Corporation H-beams and other construction certified under EcoLeaf environmental product declaration program in Japan.

• November, 2022: Tata Steel Limited today dispatched the first ever consignment of Tata Aggreto, the company’s branded steel slag aggregates to Border Roads Organisation (BRO) for construction of roads in Arunachal Pradesh under Project Arunank. 

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal. 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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