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Carbon Steel Market To Demonstrate Massive Growth With A CAGR of 3.4% By 2027 | Grand View Research, Inc.

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Carbon Steel Market To Demonstrate Massive Growth With A CAGR of 3.4% By 2027 | Grand View Research, Inc.

March 19
05:36 2021
Carbon Steel Market To Demonstrate Massive Growth With A CAGR of 3.4% By 2027 | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a report published by Grand View Research, the use of carbon steel in the construction sector involving residential, commercial, and industrial sectors, is one of the major factors boosting the growth of the market. In addition, the disruption caused in the supply chain across various industries due to COVID-19 has put a dent in the sales of the market.

The global carbon steel market size is expected to reach USD 1,156.5 billion by 2027, expanding at a CAGR of 3.4%. Carbon steel is used in a wide range of infrastructure applications, including frame materials, pipelines, fencing, fences, and a number of structural parts. The growing emphasis on infrastructure growth, especially in the Asia Pacific countries, is expected to drive the demand for carbon steel products in the coming years. Countries such as India, China, and Southeast Asia are allocating a larger portion of their budgets for infrastructure development in order to improve the overall economic growth.

The availability of alternatives in shipbuilding, such as aluminum alloys and other lightweight alloys, is expected to hinder demand growth in the coming years. Aluminum alloys are the most common carbon substitutes in shipbuilding and are expected to gain popularity due to properties such as lightweight. The ship’s weight is decreased as a result of its lightweight, which increases fuel efficiency, corrosion resistance, non-magnetic properties, and low maintenance costs. As opposed to carbon steel, one disadvantage of aluminum alloys is their high cost, which can be adjusted by higher earnings. 

Carbon Steel Market Report Highlights

 On the basis of type, the low carbon steel segment accounted for a market share of 90.7% in terms of volume in 2019. The segment has a good growth rate owing to its versatile properties coupled with low cost compared to its counterparts.

On the basis of application, the construction industry held the largest volume share of 41.6% of the carbon steel market, and this trend is anticipated to continue over the forecast period.

In February 2020, C-Chem Co., Ltd., which is a subsidiary of NIPPON STEEL Chemical & Material Co., Ltd., alongside China-based Fangda Carbon New Material Co., Ltd. announced the acquisition of Koppers (Jiangsu) Carbon Chemical Company Limited (KJCC).

The Asia Pacific segment held the highest market share of 66.1% in 2019 and is expected to observe a lucrative growth rate during the forecast period.

Get Sample Copy Of This Report @ https://www.grandviewresearch.com/industry-analysis/carbon-steel-market/request/rs1

Carbon Steel Market Segmentation

Grand View Research has segmented the global carbon steel market on the basis of type, application, and region:

Carbon Steel Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

     Low Carbon Steel
     Medium Carbon Steel
     High Carbon Steel

Carbon Steel Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

     Shipbuilding
     Construction
     Automotive
     Others

Carbon Steel Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

     North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
        • Russia
    • Asia Pacific
        • China
        • India
        • Japan
    • Central and South America
        • Brazil
    • Middle East & Africa

List of Key Players of Carbon Steel Market

    • ArcelorMittal
    • HBIS Group
    • Nippon Steel Corporation
    • POSCO
    • United States Steel
    • Evraz plc
    • Baosteel Group
    • JFE Steel Corporation
    • NLMK
    • AK Steel Corporation

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/3730/ibb

Browse More Related Report:

Sintered Steel Market Size, Share & Trends Analysis Report By Application (Automotive, Machinery & Equipment), Region (North America, Europe, Asia Pacific, Central & South America, MEA), And Segment Forecasts, 2020 – 2027

Heat Treated Steel Plates Market Size, Share & Trends Analysis Report By Process (Hardening & Tempering, Case Hardening, Annealing), By Application, By Region, And Segment Forecasts, 2020 – 2027

About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/carbon-steel-market


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