Global Carbon Steel Market Analysis & Forecast 2020-2024: Expected Growth with a CAGR of Almost 8% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 14, 2020--
The “Carbon Steel Market by End-user and Geography - Forecast and Analysis 2020-2024” report has been added to ResearchAndMarkets.com’s offering.
Global Carbon Steel Market: About this market
The carbon steel market analysis considers sales from construction, shipbuilding, automotive, and other end-users. Our study also finds the sales of carbon steels in APAC, Europe, MEA, North America, and South America. In 2019, the construction segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the development of high-rise buildings, tech parks, roads, highways, and other residential and commercial infrastructure will play a significant role in the construction segment to maintain its market position. Also, our global carbon steel market report looks at factors such as growing demand from the construction industry, increasing demand from the shipbuilding industry, and rising demand from the oil and gas industry. However, volatile prices of raw materials, the threat of substitutes, and stringent government regulations on reducing carbon emissions from steel production may hamper the growth of the carbon steel industry over the forecast period.
Global Carbon Steel Market: Overview
Growing demand from the construction industry
Carbon steel is durable, lightweight, and ductile, which makes it ideal for construction applications. Also, it is used as a primary raw material for the manufacture of structural frameworks, high-strength plates, rectangular tubing, and other construction components. Furthermore, with the construction of smart cities, tech parks, shopping malls, and other public infrastructures such as hospitals, auditoriums, and schools, the demand for high-strength and cost-effective construction materials such as carbon steel which will lead to the expansion of the global carbon steel market at a CAGR of almost 8% during the forecast period.
Increasing adoption of sustainable manufacturing practices
Steel production is an energy-intensive process and it releases substantial amounts of greenhouse gases. Therefore, major players are taking initiatives to reduce their carbon emissions and conserve energy during steel production. For instance, Nippon Steel is focusing on achieving a low-carbon footprint by dividing its energy conservation and CO2 emissions reduction plan into Action Plan phases. Several initiatives towards adopting sustainable manufacturing practices will increase the production of steel through eco-friendly means. This development is expected to have a positive impact on the overall market growth.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY END-USER
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
For more information about this report, visit https://www.researchandmarkets.com/r/fwp27z
View source version on businesswire.com:https://www.businesswire.com/news/home/20200114005584/en/
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INDUSTRY KEYWORD: STEEL MANUFACTURING
SOURCE: Research and Markets
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PUB: 01/14/2020 10:06 AM/DISC: 01/14/2020 10:06 AM