The global carbon steel market is segmented by type into carbon steel, alloy steel, stainless steel; by shape into long steel, tubular steel, flat steel; by end-user industry into ship-building, automotive, infrastructure & transport, construction and by regions. Carbon Steel Market is anticipated to mask a significant CAGR during the forecast period i.e. 2018-2027.
Currently the global carbon steel market is observing vibrant growth owing to increasing demand of polymer foams in the market. Advances in aerospace industry in the past few years and growing space explorations are projected to drive carbon steel market besides the wide range of functions of carbon steel in an immense range of products such as flat-rolled sheets, structural steels, pipes and pressure vessels during the forecast period.
Thin gauge flat carbon steel is used in food and beverage packaging industry, North America is panned to observe substantial carbon steel market growth due to rising packaged food consumption across the region. North America is anticipated to be followed by Europe in terms of consumption on account of expanding presence of many automobile manufacturers in the region. Asia Pacific is expected to drive demand and positively impact carbon steel market growth over the forecast period on account of increasing carbon steel application for making fences, bridges and buildings across the region.
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Growing Construction and Building Industry
Increasing construction solutions provided by steel makers for buildings and infrastructure is expected to drive the market at a significant rate across the forecast period. Apart from this, wide scale application of steel for reinforcing bars & structural sections, roofing & insulating panels in building and infrastructure is anticipated to strengthen and drive the growth of carbon steels in the upcoming years.
Increasing Consumption of Packaged Food and Beverage Industry
According to World Steel Association, approximately 200 Billion cans of foods are produced each year. Further, changing lifestyle coupled with increasing consumption of packaged food in developed nations is anticipated to increase the demand for thin gauge flat carbon steels.
However, decrease in steel capacity utilization ratio, higher pricing of lightweight materials in automobiles and costly MRO (maintenance, repair and overhaul) services for carbon steel products is envisioned to hinder the growth of carbon steel market. Furthermore, superior alternative like stainless chromium-nickel steels present in the market can lower the growth rate of carbon steels over the forecast period.
The report titled “Global Carbon Steel Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Carbon Steel market in terms of market segmentation by type, by shape, by end-user industry and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Carbon Steel market which includes company profiling of Curtis Steel Co., Inc., Omega Steel Company, Afarak Group, ArcelorMittal SA, Bushwick Metals LLC, Nippon Steel & Sumitomo Metal Corporation, Tata Steel Group, BE Group AB, AK Steel Corp. and Celsa Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Carbon Steel market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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This post was originally published on Space Market Research