Global Flat Carbon Steel Market to surpass USD 704.2 billion by 2030 from USD 462.1 billion in 2020 at a CAGR of 5.4% in the coming years, i.e., 2021-30.
Steel is one of the most important raw materials used in the manufacturing of a wide range of products that are essential to the economy’s growth. Carbon steel is a low-carbon steel that comes in the form of flat plates, sheets, or ingots. Carbon steel has a carbon content ranging from 0.04 percent to 0.30 percent. When compared to other materials, carbon steel is employed in gas and oil production because of its constructability, availability, and low cost. It’s pliable and ductile, with low tensile strengths. Flat steel goods include continuous or discontinuous steel sheets, coils, plates, and flat slabs.
Global Flat Carbon Steel market is expected to project a notable CAGR of 5.4% in 2030.
Over the forecast period, various factors such as rising investments in building and infrastructure, rising urbanization, increasing consumer awareness of the benefits of flat steel such as design flexibility, high strength, low maintenance, and construction costs, and increasing government expenditure on infrastructure development will drive the global flat carbon market. Furthermore, the expanding presence of a large customer base has resulted in a burgeoning industrial sector, which is likely to generate profitable prospects for the flat steel market over the projection period.
Global Flat Carbon Steel: Segments
Hot rolled coils segment to grow with the highest CAGR during 2020-30
Global Flat Carbon Steel market is segmented by type into Hot rolled coils, Plates, Galvanized coils, Cold rolled coils and Others. Hot rolled coils segment held the largest market share in the year 2020. They are appropriate for use in autos and electric appliances because to their strength and longevity. Galvanized coils are also a profitable product sector, thanks to qualities like as corrosion resistance and increased durability, which are driving up demand.
Building and Infrastructure segment to grow with the highest CAGR during 2020-30
Global Flat Carbon Steel market is divided by end-user into Building and Infrastructure, Automotive, Mechanical Equipment, and Others. Because of the expansion in global population, increased industrialization, and increased infrastructure investments, the building, and infrastructure segment accounts for a large portion of the Flat Carbon Steel market. Automobile and other transportation applications account for a considerable portion of the market because flat carbon steel allows them to meet specified strength and protection standards for their vehicles at a reduced cost.
Application in building and infrastructure and awareness among consumers
The building industry’s rapid expansion is a major driver of the global flat carbon steel market. The market is growing as a result of expanding investments in construction and infrastructure, as well as rising urbanization. Consumers are becoming more aware of the advantages of Flat Carbon Steels, such as design freedom, high strength, and cheap maintenance and construction costs, among other things. Other key drivers of market expansion include rising government spending on infrastructure construction and rising demand for flat carbon steel for the manufacture of consumer products.
Increased investments in infrastructure and use of EV
Growing investments in infrastructure development are likely to create new economic opportunities, resulting in the Flat Carbon Steel Market’s rapid rise. Flat Carbon Steel is used for cladding of restored tunnels, railway bridge structures, and enclosures for parking and airport facilities because it is corrosion and abrasion resistant. Introducing new techniques to reduce environmental impact and produce carbon-neutral steel creates future growth potential. Other opportunities might be found in the developing manufacturing sector and the increasing use of electric vehicles in the automotive industry.
High capital-intensive nature and variable cost of crude material
There are some constraints, such as the high capital-intensive nature of flat carbon steel production. Another stumbling block is the variable cost of crude material. These factors may have a negative impact on the global flat carbon steel market’s growth.
Global Flat Carbon Steel: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Nippon Steel & Sumitomo Metal Corporation
Other Prominent Players
Global Flat Carbon Steel: Regions
Global Flat Carbon Steel market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The market in APAC is expected to hold highest CAGR over the forecasted period. This is owing to manufacturing and production centers in nations such as China, India, Japan, and Taiwan, to name a few. Flat carbon steel is in high demand in this region, thanks to a variety of end-user industries. Infrastructure, the building and construction industry, and maintenance operations will all see rapid growth in the North American region.
Global Flat Carbon Steel is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Flat Carbon Steel report also contains analysis on:
Flat Carbon Steel Segments:
Hot rolled coils
Cold rolled coils
Building and Infrastructure
Flat Carbon Steel Dynamics
Flat Carbon Steel Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Flat Carbon Steel Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 462.1 billion
Revenue forecast in 2030 USD 704.2 billion
Growth Rate CAGR of 5.4% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, end-user, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled JSW, Nippon Steel & Sumitomo Metal Corporation, Dongkuk Steel, HYUNDAI STEEL, Dongbu Steel, EVRAZ plc, SAI, Baosteel Group, Manhattan Steel, and Other Prominent Players