Green Steel Market: USD 117.13 Bn Value, Growth, and Size Forecast (2024-2031) | Ansteel Group, ArcelorMittal

Green steel market is estimated to be valued at USD 4.33 Bn in 2024 and is reach USD 117.13 Bn by 2031, exhibiting a (CAGR) of 60.2% from 2024 to 2031.

BURLINGAME, CA, UNITED STATES, September 23, 2024 /EINPresswire.com/ -- The latest market intelligence report published by CMI with the title "Global Green Steel Market 2024, Growth Opportunities, and Forecast" provides actionable insights on Advanced Materials industry. The report provides demand analysis, industry insights, competitive intelligence, and customer database.

The Research report on Green Steel Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps’ Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.

Key trends

1. Increased Investment in Sustainable Technologies: There is a significant uptick in investments aimed at developing sustainable steel production technologies. Companies are exploring methods such as hydrogen-based direct reduction, which utilizes green hydrogen to reduce iron ore, significantly lowering carbon emissions compared to traditional methods. This trend is supported by both private and public sector funding.

2. Regulatory Support and Carbon Pricing: Governments around the world are implementing stricter environmental regulations and carbon pricing mechanisms to incentivize the reduction of greenhouse gas emissions. These policies are encouraging steel manufacturers to adopt green technologies and processes, making sustainability a key competitive factor in the market.

3. Rising Demand for Low-Carbon Products: As industries prioritize sustainability, the demand for low-carbon steel is increasing, especially in sectors like automotive, construction, and renewable energy. Companies are seeking suppliers who can provide green steel to meet their own sustainability goals, creating a market for certified low-emission steel products.

4. Circular Economy Practices: The steel industry is increasingly embracing circular economy principles, focusing on recycling and reusing steel scrap. Enhanced recycling processes are reducing the need for virgin materials and minimizing waste, aligning with global sustainability initiatives. This trend is driving innovation in scrap collection, sorting, and processing technologies.

5. Collaborations and Partnerships: There is a growing trend of collaborations among steel manufacturers, technology providers, and research institutions to accelerate the transition to green steel. Partnerships are essential for sharing knowledge, resources, and technological advancements, facilitating faster adoption of sustainable practices in steel production.

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*Note: Sample of the report provides details on the scope and coverage, table of contents, research methodology, and Sample Framework of the report. Actual report of 150+ is available for purchase to all the interested stakeholders.

Detailed Segmentation and Classification of the report (Market Size and Forecast – 2031, Y-o-Y growth rate, and CAGR):

• By Process Type:
Electric Arc Furnace (EAF)
Basic Oxygen Furnace (BOF)
Direct Reduced Iron (DRI)

• By End-Use Industry:
Construction
Automotive
Machinery
Others (Shipbuilding, Appliances, etc.)

• By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa

Following are the players analyzed in the report:

• Ansteel Group
• ArcelorMittal
• Boston Metal
• China Baowu Group
• Cleveland-Cliffs
• H2 Green Steel
• Nippon Steel Corporation
• Nucor Corporation
• Steel Dynamics Inc.
• United States Steel Corporation
• Jindal Stainless Limited
• Swiss Steel Group

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Deep-dive Analysis:

The Report provides deep-dive qualitative and quantitative analysis on Green Steel Market for all the regions and countries covered below:

• North America (the United States, Canada, and Mexico)
• Europe (Germany, France, Italy, United Kingdom, SCANDIVAN, Benelux, Russia, and Rest of Europe)
• Asia-Pacific (Japan, South Korea, India, China, Southeast Asia, and Australia)
• South America (Brazil, Argentina, and Rest of South America)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa, and Rest of the Middle East & Africa)
• Each Country is covered in detail, and report provides qualitative and quantitative analysis on Green Steel Market on each country.

The research provides answers to the following key questions:

1. What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Green Steel market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Green Steel market?
4. What are the prominent market trends influencing the development of the Green Steel market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Green Steel market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

Key insights provided by the report that could help you take critical strategic decisions?

• Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
• Reports provide opportunities and threats faced by suppliers in the Green Steel and tubes industry around the world.
• The report shows regions and sectors with the fastest growth potential.
• A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
• The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
• This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

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