Carbon Steel Market (By Type: High carbon steel, Medium carbon steel, Low carbon steel; By Application: Construction, Shipbuilding, Automotive, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

The global carbon steel market size is projected to reach around US$ 994 Bn by 2027 and is anticipated to grow at a CAGR of around 4% in terms of revenue during the forecast period 2020 – 2027.

Carbon steel, also known as plain carbon steel, is a mixture of iron and carbon formed alloy. Carbon steel is also the term used to refer for non-stainless steel. Carbon steel incorporates very small concentrations of other metals. Manganese, nickel, and silicone are other metal alloys used for the manufacture of carbon steel. In order to increase the physical properties of the commodity the volume of carbon is decreased in steel. High metal carbon content increases the product's strength as well as its hardness.

The report provides analysis of global Carbon Steel market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Insights

A growing emphasis is projected to increase the use of carbon steel goods in the coming years. Asia Pacific will potentially draw almost 50% of investment in infrastructure in near future. Increasing investment on infrastructure by countries such as India, China and South East Asian countries is aimed at improving broader economic growth. The use of carbon steel in transportation, outline structures, fencing, pipelines, gates and various structural parts finds several applications.  

However to reduce the ratio of use of steel, higher costs for light weight vehicles and costly MRO (maintenance, repairing and upgrading) facilities for car-plated steel goods is hampering the market growth. In addition, superior substitute goods such as stainless chromium nickel steels on the market will limit carbon steels growth during the forecast time span.

Regional Stance

Asia Pacific held significant market share in 2019 and anticipated to administer the market during the forecast time span. The presence of several producers of carbon steel in China is anticipated to fuel overall carbon steel production. Asia Pacific is also the largest carbon steel market. The growth of urbanization in concurrence with the growing regional economies is expected to increase the region's total demand for carbon steel. In terms of carbon steel consumption, Asia Pacific is followed by Europe. Several automotive makers are believed to be present in the country to raise demand for carbon steel in the country. Besides, owing to strong demand for steel alloy in the railway and shipping industry, the market for carbon steel is projected to rise quickly. Furthermore, in recent years, demand has risen in the shipbuilding industry in Southeastern Asia and China. Despite the global downturn of 2008, the industry worked well.

Report coverage

The market research study on “Carbon Steel Market (Carbon Steel Market By Type: High carbon steel, Medium carbon steel, Low carbon steel; Carbon Steel Market By Application: Construction, Shipbuilding, Automotive, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Carbon Steel market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Carbon Steel market size, and segment markets by type, construction, application, and geography along with the information on companies operating in the market. The Carbon Steel market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Carbon Steel market is segmented as below:

Market Segmentation

Carbon Steel Market By Type

• High carbon steel
• Medium carbon steel
• Low carbon steel

Carbon Steel Market By Application

• Construction
• Shipbuilding
• Automotive
• Others

Carbon Steel Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

Key Players and Market Situation

Participants include major global players such Omega Steel Company, Curtis Steel Co., Inc., Afarak Group, Bushwick Metals LLC, ArcelorMittal SA, and Others.

Most MNCs focus on the production of new carbon steel products. In fact, in the field of automobile and aircraft, the other favorable properties of carbon steel are used rarely. New uses of carbon steel derivatives are frequently discovered that are expected to rapidly boost the carbon steel industry.