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Sustainable steel refers to steel that is produced using environmentally sustainable methods and practices. This includes reducing carbon emissions, minimizing waste and pollution, and using renewable energy sources in the production process. There are several ways in which steel production can be made more sustainable. One approach is to use recycled steel instead of virgin steel. Recycled steel can be melted down and reused, reducing the need for new steel production and the associated environmental impacts. In fact, recycling steel can save up to 75% of the energy required to produce new steel. Another approach is to use renewable energy sources, such as wind and solar power, to power the steel production process. This can help to reduce carbon emissions and other pollutants associated with traditional energy sources, such as coal and natural gas. In addition, sustainable steel production can involve using more efficient production methods, such as electric arc furnaces, which use less energy and produce fewer emissions than traditional blast furnaces. The global sustainable steel market is anticipated to increase by USD 227.5 billion till 2029 at an average annual growth of 7.95 percent as per the latest market estimates.
The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global sustainable steel market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors' approaches.
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product type, technology, end-user, and region. The global market for sustainable steel can be segmented by product type: recycled steel, green steel. The recycled steel segment was the largest contributor to the global sustainable steel market in 2022. Sustainable steel market is further segmented by technology: electric arc furnace (EAF), blast furnace-basic oxygen, furnace (BF-BOF), others. According to the research, the electric arc furnace (EAF) segment had the largest share in the global sustainable steel market. Based on end-user, the sustainable steel market is segmented into: transportation, construction, furniture and appliances, packaging, others. The construction segment held the largest revenue share in 2022. On the basis of region, the sustainable steel market also can be divided into: Asia-Pacific (ex. China), Europe, North America, China, RoW (Rest of World). Globally, China made up the largest share of the sustainable steel market.
Market Segmentation
By product type: recycled steel, green steel
By technology: electric arc furnace (EAF), blast furnace-basic oxygen, furnace (BF-BOF), others
By end-user: transportation, construction, furniture and appliances, packaging, others
By region: Asia-Pacific (ex. China), Europe, North America, China, RoW (Rest of World)
The report also provides analysis of the key companies of the industry and their detailed company profiles including ArcelorMittal S.A., Nucor Corporation, Steel Dynamics, Inc., Gerdau SA, Commercial Metals Company, Nippon Steel Corporation, Celsa SA, POSCO Holdings Inc., HBIS Group Co., Ltd., LIBERTY Steel Group, Tata Steel Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
* To analyze and forecast the market size of the global sustainable steel market.
* To classify and forecast the global sustainable steel market based on product type, technology, end-user, region.
* To identify drivers and challenges for the global sustainable steel market.
* To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global sustainable steel market.
* To identify and analyze the profile of leading players operating in the global sustainable steel market.
Why Choose This Report
* Gain a reliable outlook of the global sustainable steel market forecasts from 2023 to 2029 across scenarios.
* Identify growth segments for investment.
* Stay ahead of competitors through company profiles and market data.
* The market estimate for ease of analysis across scenarios in Excel format.
* Strategy consulting and research support for three months.
* Print authentication provided for the single-user license.