United State – Global Flat Carbon Steel Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Flat Carbon Steel market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global flat carbon steel market size was US$ 463.9 billion in 2021. The global flat carbon steel market is forecast to grow to US$ 701 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
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Steel is one of the most crucial raw materials needed in the production of a wide range of products. Carbon steel is a low-carbon steel that is available in flat plates, sheets, and ingots with carbon content ranging from 0.04 percent to 0.30 percent. Carbon steel finds applications in gas and oil production.
Factors Influencing the Market
The wide range of applications of flat carbon steel in building and infrastructure development will initially drive the growth of the market. Further, growing awareness among consumers related to the benefits of flat carbon steel, such as design freedom, high strength, and low maintenance and construction costs, will also benefit the overall market during the forecast period.
The rapid expansion of the construction industry is a major driver of the global flat carbon steel market during the study period. The market is also expanding as a result of increased construction and infrastructure investments and rising urbanization.
Growing investments in infrastructure development will drive the demand for the flat carbon steel market. Further, the rising use of EVs is likely to create various opportunities for the flat carbon steel market during the study period. On the contrary, the variable cost of crude materials may restrict the growth of the market during the study period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the manufacturing industry experienced a substantial drop in terms of revenue. It was majorly due to the COVID-19 impact on the lives of the people. Moreover, this global emergency forced the units to halt their operations on a temporary basis, which lasted for more than a year in various countries. As a result, it hampered the growth of the flat carbon steel market. Moreover, the end-use industries of flat carbon steel, such as automotive, construction, mechanical equipment, etc., recorded sharp decline, which in turn impeded the demand for flat carbon steel.
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Regional Analysis
The Asia-Pacific flat carbon steel market is forecast to grow at a substantial growth rate, owing to the presence of various developing economies expected to bring lucrative growth opportunities for the market. Further, favourable initiatives by government bodies for infrastructural development will contribute to the growth of the flat carbon steel market during the study period. The flat carbon steel market may experience substantial growth in the region due to the presence of one of the largest automotive sectors in the region.
Competitors in the Market
? JSW
? Nippon Steel & Sumitomo Metal Corporation
? Dongkuk Steel
? HYUNDAI STEEL
? Dongbu Steel
? EVRAZ plc
? SAIL
? Baosteel Group
? Manshaan Steel
? Other Prominent Players
Market Segmentation
The global flat carbon steel market segmentation focuses on Type, End-User, and Region.
By Type
? Hot-rolled coils
? Plates
? Galvanized coils
? Cold rolled coils
? Others
By End-User
? Building and Infrastructure
? Automotive
? Mechanical Equipment
? Others
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
Key questions answered in the global Flat Carbon Steel market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Flat Carbon Steel market over the forecast period?
- What are the factors driving and restraining the market for Flat Carbon Steel ?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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