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PUBLISHER: Grand View Research | PRODUCT CODE: 1772437
PUBLISHER: Grand View Research | PRODUCT CODE: 1772437
Carbon Steel Market Size, Share & Trend Analysis Report By Type (Low Carbon Steel, Medium Carbon Steel, High Carbon Steel), By Application (Ship Building, Construction, Automotive), By Region, And Segment Forecasts, 2025 - 2030
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PAGES: 100 Pages
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Carbon Steel Market Growth & Trends:
The global carbon steel market size is estimated to reach USD 1,370.43 billion by 2030, registering to grow at a CAGR of 5.3% from 2025 to 2030 according to a new report by Grand View Research, Inc. Increasing investment in the construction sector on account of factors such as rising housing needs, boosting tourism, and increasing commercial space is likely to augment the demand for carbon steel over the forecast period.
For instance, in August 2022, Nakheel PJSC announced a master plan vision for the Dubai islands. The plan involves the construction of five islands of 17 square kilometers by 2040. These islands are expected to have 80 resorts & hotels, cultural hubs, boutiques, dedicated public parks, and residential spaces. Such kinds of investments are expected to fuel the product demand over the coming years.
Carbon steel is one of the key materials used in the construction sector on account of its strength and hardness. It is used in rectangular tubing, highway construction plates, structural framework beams, and bridges. It is also a popularly used material in the manufacturing of hollow structural sections and rebars. Plain carbon steel exhibits various properties such as plasticity, ductility, flexibility, and bending ability. During natural calamities, such as earthquakes, it is a very useful material owing to its crack resistance. Thus, growth in the construction industry, especially after the pandemic aided the product demand.
Further, the automotive industry is another vital end-use for the market. For instance, high carbon steel finds use in various automotive applications such as door panels, vehicle chassis, and bushings, among others. A rise in vehicle production is thus anticipated to boost product consumption over the forecast period. According to OICA, world automotive production rose by 6% from 2021 to 2022.
Further, the growing emphasis toward sustainable production is aiding the market growth. For instance, in 2022, BMW, to further support its goal of reducing carbon dioxide emissions signed an agreement with Salzgitter AG to deliver low carbon steel. The product will be used in car production at the company's European plants, from 2026 onwards. The company aims at fulfilling 40% of its demand by making use of low carbon steel at its plants in Europe, by 2030, thereby reducing carbon dioxide emissions by 400 kilotons per annum.
Availability of substitutes such as aluminum alloys and other lightweight alloys is anticipated to hinder market growth over the coming years. Aluminum alloys are the major substitutes for carbon steel in applications like shipbuilding. They are expected to gain a higher preference owing to properties like lightweight, which helps reduce the weight of the ship, enhance fuel efficiency, provide higher corrosion resistance, non-magnetic properties, and offer low cost maintenance.
Despite the various advantages of aluminum alloys, there is one drawback associated with them. Their high cost when compared to carbon steel restricts their consumption. However, this drawback can be compensated for with higher earnings.
Carbon Steel Market Report Highlights:
- Based on type, the low carbon steel segment accounted for the highest revenue share of nearly 90.2% in 2024. Availability of the product at an economical cost is likely to remain a key factor driving the segment growth.
- The construction segment led the market with the largest revenue share of 40.4% in 2024.
- Based on region, Asia Pacific dominated the global market with a revenue share of over 66.98% in 2024. This trend is anticipated to continue over the forecast period. Availability of labor at an economical cost and increasing industrial outputs are the primary driving factors for the product demand to propel in the region.
Product Code: GVR-4-68038-415-4
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Data Analysis Models
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Global Steel Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Sales Channel Analysis
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.6. Industry Trends
- 3.6.1. Trade Outlook
- 3.6.2. ESG Analysis
- 3.6.3. Economic Trends
- 3.7. Porter's Five Forces Analysis
- 3.7.1. Bargaining Power of Suppliers
- 3.7.2. Bargaining Power of Buyers
- 3.7.3. Threat of Substitution
- 3.7.4. Threat of New Entrants
- 3.7.5. Competitive Rivalry
- 3.8. PESTLE Analysis
- 3.8.1. Political
- 3.8.2. Economic
- 3.8.3. Social Landscape
- 3.8.4. Technology
- 3.8.5. Environmental
- 3.8.6. Legal
Chapter 4. Carbon Steel Market: Type Estimates & Trend Analysis
- 4.1. Carbon Steel Market: Type Movement Analysis, 2024 & 2030
- 4.2. Low Carbon Steel
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 4.3. Medium Carbon Steel
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 4.4. High Carbon Steel
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
Chapter 5. Carbon Steel Market: Application Estimates & Trend Analysis
- 5.1. Carbon Steel Market: Application Movement Analysis, 2024 & 2030
- 5.2. Ship Building
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.3. Construction
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.4. Automotive
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 5.5. Others
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
Chapter 6. Carbon Steel Market: Regional Estimates & Trend Analysis
- 6.1. Regional Analysis, 2024 & 2030
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.4.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.4.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.5.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.5.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.6.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.2.6.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.4.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.4.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.5. UK
- 6.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.5.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.5.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.6. Russia
- 6.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.6.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.3.6.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.4.2. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.5. India
- 6.4.5.1. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.5.2. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.6. Japan
- 6.4.6.1. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.4.6.2. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.5. Latin America
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.5.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.5.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.5.4.2. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- 6.6. Middle East & Africa
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million) (Kilotons)
- 6.6.2. Market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- 6.6.3. Market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Heat Map Analysis
- 7.4. Vendor Landscape
- 7.4.1. List of equipment suppliers
- 7.4.2. List of distributors
- 7.5. List of prospective end-users
- 7.6. Strategy Initiatives
- 7.7. Company Profiles/Listing
- 7.7.1. AK Steel Corporation
- 7.7.1.1. Company Overview
- 7.7.1.2. Financial Performance
- 7.7.1.3. Product Benchmarking
- 7.7.2. ArcelorMittal
- 7.7.2.1. Company Overview
- 7.7.2.2. Financial Performance
- 7.7.2.3. Product Benchmarking
- 7.7.3. Baosteel Group
- 7.7.3.1. Company Overview
- 7.7.3.2. Financial Performance
- 7.7.3.3. Product Benchmarking
- 7.7.4. Evraz plc
- 7.7.4.1. Company Overview
- 7.7.4.2. Financial Performance
- 7.7.4.3. Product Benchmarking
- 7.7.5. HBIS Group
- 7.7.5.1. Company Overview
- 7.7.5.2. Financial Performance
- 7.7.5.3. Product Benchmarking
- 7.7.6. JFE Steel Corporation
- 7.7.6.1. Company Overview
- 7.7.6.2. Financial Performance
- 7.7.6.3. Product Benchmarking
- 7.7.7. Nippon Steel Corporation
- 7.7.7.1. Company Overview
- 7.7.7.2. Financial Performance
- 7.7.7.3. Product Benchmarking
- 7.7.8. NLMK
- 7.7.8.1. Company Overview
- 7.7.8.2. Financial Performance
- 7.7.8.3. Product Benchmarking
- 7.7.9. POSCO
- 7.7.9.1. Company Overview
- 7.7.9.2. Financial Performance
- 7.7.9.3. Product Benchmarking
- 7.7.10. United States Steel
- 7.7.10.1. Company Overview
- 7.7.10.2. Financial Performance
- 7.7.10.3. Product Benchmarking
- 7.7.1. AK Steel Corporation
Product Code: GVR-4-68038-415-4
List of Tables
- Table 1 Carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 2 Carbon steel market estimates and forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 3 Carbon steel market estimates and forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 4 North America carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 5 North America carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 6 North America carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 7 U.S. carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 8 U.S. carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 9 U.S. carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 10 Canada carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 11 Canada carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 12 Canada carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 13 Mexico carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 14 Mexico carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 15 Mexico carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 16 Europe carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 17 Europe carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 18 Europe carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 19 Germany carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 20 Germany carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 21 Germany carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 22 UK carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 23 UK carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 24 UK carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 25 Russia carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 26 Russia carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 27 Russia carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 28 Asia Pacific carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 29 Asia Pacific carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 30 Asia Pacific carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 31 China carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 32 China carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 33 China carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 34 India carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 35 India carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 36 India carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 37 Japan carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 38 Japan carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 39 Japan carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 40 Latin America carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 41 Latin America carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 42 Latin America carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 43 Brazil carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 44 Brazil carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 45 Brazil carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
- Table 46 Middle East & Africa carbon steel market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- Table 47 Middle East & Africa carbon steel market estimates & forecasts, by type, 2018 - 2030 (USD Million) (Kilotons)
- Table 48 Middle East & Africa carbon steel market estimates & forecasts, by application, 2018 - 2030 (USD Million) (Kilotons)
List of Figures
- Fig. 1 Market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Market snapshot
- Fig. 6 Segmental outlook
- Fig. 7 Competitive outlook
- Fig. 8 Carbon steel market outlook, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 9 Value chain analysis
- Fig. 10 Market dynamics
- Fig. 11 Porter's analysis
- Fig. 12 PESTEL analysis
- Fig. 13 Carbon steel market, by type: Key takeaways
- Fig. 14 Carbon steel market, by type: Market share, 2024 & 2030
- Fig. 15 Carbon steel market, by application: Key takeaways
- Fig. 16 Carbon steel market, by application: Market share, 2024 & 2030
- Fig. 17 Carbon steel market: regional analysis, 2024
- Fig. 18 Carbon steel market, by region: Key takeaways
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