- Low-Carbon steel
- Medium-Carbon Steel
- High-Carbon Steel
- Ultra High-Carbon Steel
Carbon Steel Plate Market size was valued at USD 956.45 billion in 2021 and is expected to grow at a CAGR ofÂ 3.8% from 2022â€“2028. A steel alloy with a minimum of 2.1% carbon content is called carbon steel. Carbon steels often have low compressive strength and are soft. However, they do have a high ductility, which makes them perfect for welding and machines. Increased production of automobiles, increased use of carbon steel in the production of pipes and tubes for construction, and increased uses of carbon steel across a variety of end-user sectors are all contributing to the growth of the carbon steel plate market. Based on the form the market is segmented into Hot Rolled, and Cold Rolled. The hot-rolled carbon steel plate form is likely to hold the highest market share over the forecast period. Due to their strong and long-lasting, they can be used, in both automobiles and electric appliances. However, some factors such as strict laws, regulations, and initiatives for reducing carbon footprints, and an increase in steel prices from the previous year are hamper the market growth. Recent Market Developments: In Feb 2020, Koppers Carbon Chemical Company Ltd. (KJCC) was acquired by Nippon Steel Corporation.
Fastest Growing Market
Buildings that are low-carbon and energy-efficient are in greater demand globally. Throughout the entire life cycle of a structure, carbon steel offers high strength, adaptability, durability, and complete recyclability, making it an inexpensive and safer alternative. Several macroeconomic and demographic factors, including the expansion of the infrastructure and construction industries, the manufacture of automobiles, and the rising preference for carbon steel over materials like heavy walled cast iron, alumina, and concrete due to its corrosion resistance, ease of installation, and breaking stress, have a significant impact on the market. The fabrication of pipes and tubes out of carbon steel is being used more frequently, and a variety of end-user industries are using carbon steel more frequently as well. Demand for carbon steel is being driven by the global automotive industry's consistent growth, which is fueling the market's revenue growth.
carbon steel plate market growing at a CAGR of x% during forecast period 2022-28.
Marubeni Itochu Steel Inc., Baosteel Group, POSCO, SHAGANG GROUP Inc., The Ansteel Group Corporation, WISCO-Wuhan Iron & Steel, JFE Steel Corporation, Taiyuan Iron & Steel (Group) Co., Ltd.
Asia-Pacific is the fastest-growing region for carbon steel plate market