Flat Carbon Steel Market Scope
Flat carbon steel is a metallic material used in automotive, packaging, construction and others appliances. It includes coiled, both hot and cold, slabs and others heavy plates including tinplate. These carbon steels are normally American Society for Testing and Materials (ASTM), The American Society of Mechanical Engineers (ASME) and society of automotive materials (SAE). Such steel bars are found in thickness range of .010 to .135. Wide applications in end-users industries are supplementing its growth worldwide despite availability of its alternatives.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Tata Steel Limited (India), ArcelorMittal (Luxembourg), United States Steel Corporation (United States), Voestalpine Group (Germany) and Nippon Steel & Sumitomo Metal (Japan) |
CAGR | 6.6% |
Research Analyst at AMA estimates that United States and Chinese Vendors will contribute to the maximum growth of Global Flat Carbon Steel market throughout the predicted period.
Tata Steel Limited (India), ArcelorMittal (Luxembourg), United States Steel Corporation (United States), Voestalpine Group (Germany) and Nippon Steel & Sumitomo Metal (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are POSCO (South Korea), China BaoWu Steel Group Corporation (China) and Cellino (Italy).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Flat Carbon Steel market by Type , by Application (Building & infrastructure, Automotive & other transport, Mechanical equipment and Others) and Region with country level break-up.
On the basis of geography, the market of Flat Carbon Steel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2023,Nippon Steel Corporation Japan’s largest steelmaker and one of the world’s leading steel manufacturers, and United States Steel Corporation a leading steel producer with competitive advantages in low-cost iron ore, mini mill steelmaking, and best-in-class finishing capabilities, today announced that they have entered into a definitive agreement pursuant to which NSC will acquire U. S.
In October 2023,Italian steelmaker Acciaierie d’Italia , the joint venture between state company Invitalia and ArcelorMittal, has launched its own low-carbon steel brand called “Penisola Steel”. The steelmaker held last week a commercial roadshow called “Steel Commitment, Primary” in Taranto, attended by 500 companies, to get closer to its clients and gain market share
Influencing Trend:
Focus on Lightweight Materials in End-user Industries and Categorization of Such Products Based on Quality
Market Growth Drivers:
Growing Use of Building & Construction Industry and Rising Demand from Automotive and Aerospace
Challenges:
Volatility in Raw Materials Prices
Restraints:
Availability of Alternative Materials Being Used as a Replacement of Flat Carbon Steel
Opportunities:
Rapid Industrialization in Emerging Countries and Price Depreciation in Steel Materials
Key Target Audience
Flat Carbon Steel Manufacturers, Distributors/Suppliers, Raw Materials Suppliers, Potential Investors, Government Agencies, Research Institutes, Market and Research Firms and Others