How big is the Carbon Steel Market | Size, Share & Industry Outlook

Q: How big is the Carbon Steel market?

The Carbon Steel Market was estimated at USD 909 billion in 2024 and is projected to reach USD 1,450 billion by 2031.

Q: What is driving the growth of this market?

Strong demand from construction, automotive, energy, and industrial sectors is propelling market growth.

Q: What are the key trends in the Carbon Steel industry?

HSLA steel adoption, EAF technology, green steel production, and digital transformation in manufacturing.

Q: Who are the leading players in the carbon steel market?

Leading players include ArcelorMittal, Baowu, POSCO, Tata Steel, and Nippon Steel.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA5633

Publication Date: Jul 2025

What is the size of the Carbon Steel Market?

According to 6Wresearch internal database and industry insights, Global Carbon Steel Market was estimated atUSD 909 billion in 2024 and is projected to reachUSD 1,450 billion by 2031, growing at aCAGR of 6.3% during the forecast period 2025â€“2031.

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The growth of carbon steel market is predicted for the substantial growth driven by strong demand in construction, automotive, infrastructure, shipbuilding, and energy sectors globally.

Key Growth Drivers of the Carbon Steel Market

Rising construction activities, especially in emerging economies
Growing demand for durable and cost-effective materials in infrastructure projects
Increased use in automotive manufacturing due to strength and affordability
Expansion of oil & gas and shipbuilding industries utilizing carbon steel piping and plates
Urbanization and industrialization boosting structural steel consumption

Carbon Steel Market Trends

Carbon steel market is growing over the years with manufacturers are increasingly focusing on high-strength low-alloy (HSLA) carbon steels for improved performance and reduced weight. There's a rising shift toward electric arc furnace (EAF) steelmaking for energy efficiency and lower emissions. Further, smart manufacturing and digitization in steel plants are enhancing productivity and quality.

Emerging Developments in the Carbon Steel Market

Carbon steel market is developing with the time as the market is integrated with Industry 4.0 technologies such as AI and IoT in steel manufacturing is gaining traction. Alongside, the efforts are underway to produce green and low-carbon steel to meet global sustainability targets. Also the strategic mergers and capacity expansions are being witnessed in Asia-Pacific, especially in India and China, to meet the domestic and export demand.