Size, Share, and Growth Forecast

Green Steel Market

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.

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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.

Key opportunities

1. Decarbonization Initiatives

• Government Regulations and Policies: Governments worldwide are implementing stricter environmental regulations and carbon pricing mechanisms. These policies incentivize the adoption of green steel technologies and create opportunities for companies to meet regulatory requirements and benefit from subsidies or tax credits.

• Corporate Sustainability Goals: Many corporations are committing to reducing their carbon footprint and enhancing sustainability in their supply chains. Green steel offers a way to align with these goals, making it an attractive option for companies aiming to improve their environmental credentials.

2. Technological Innovations

• Hydrogen-Based Steelmaking: The use of hydrogen as a reducing agent in steel production (direct reduction) presents a significant opportunity. Hydrogen-based steelmaking can drastically reduce CO2 emissions compared to traditional methods. Investment in hydrogen infrastructure and technology development is crucial for advancing this approach.

• Electrification of Processes: Electrification of steel production processes using renewable energy sources can reduce reliance on fossil fuels. Technologies like electric arc furnaces (EAF) powered by green electricity offer opportunities for reducing emissions and improving efficiency.

3. Circular Economy and Recycling

• Increased Recycling Rates: Leveraging steel and improving recycling rates can significantly reduce the need for virgin raw materials and lower emissions. Opportunities exist in developing advanced sorting and recycling technologies to enhance the quality and efficiency of steel recycling.

• Closed-Loop Systems: Implementing closed-loop systems where steel products are designed for easy disassembly and recycling at the end of their lifecycle supports sustainability and creates new business models.

Want to access more insights? The journey starts from requesting Sample: https://www.coherentmarketinsights.com/insight/request-sample/7063

*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):

1. By Production Technology

• Hydrogen-Based Steelmaking

Direct Reduction (DR) with Hydrogen: Utilizes hydrogen as a reducing agent instead of carbon to produce steel, aiming to significantly lower CO2 emissions.

Hybrid Processes: Combines hydrogen with traditional methods to gradually reduce carbon intensity.

• Electric Arc Furnace (EAF)

Powered by Renewable Energy: Uses electricity from renewable sources (e.g., wind, solar) to melt steel, minimizing the carbon footprint.

Blast Furnace with Carbon Capture and Storage (CCS)

CCS Integration: Enhances traditional blast furnace operations with CCS technology to capture and store CO2 emissions.

• Bio-Based Reduction

Biomass as Reducing Agent: Uses biomass (e.g., wood pellets) as an alternative to coke in the reduction process.

2. By Type of Steel

• Flat Products

Hot Rolled: Includes products like plates and sheets used in automotive, construction, and manufacturing sectors.

Cold Rolled: Includes products like coated sheets used in consumer goods and appliances.

• Long Products

Rebar: Used in construction for reinforcing concrete.

Wire Rods: Used in various applications, including automotive and construction.

• Specialty Steels

High-Strength Low-Alloy (HSLA) Steel: Designed for specific applications requiring enhanced mechanical properties.

Stainless Steel: Corrosion-resistant steel used in various industries, including food processing and construction.

3. By End-Use Industry

• Automotive

Vehicle Manufacturing: Green steel is used to produce automotive parts and bodies, aligning with the automotive industry’s sustainability goals.

• Construction

Structural Steel: Used in the construction of buildings, bridges, and infrastructure.

Reinforcement: Includes rebar and other reinforcement products used in concrete structures.

• Manufacturing

Machinery and Equipment: Green steel is utilized in the production of machinery and industrial equipment.

• Energy

Renewable Energy Infrastructure: Used in the construction of renewable energy systems, such as wind turbines and solar panel frames.

• Consumer Goods

Appliances and Electronics: Includes steel used in the manufacturing of household appliances and electronic devices.

• 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.

Author of this marketing PR:

Priya Pandey is a dynamic and passionate PR writer with over three years of expertise in content writing and proofreading. Holding a bachelor’s degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes writing contents and documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya’s meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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