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

BURLINGAME, CA, UNITED STATES, October 15, 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.

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Key trends Green Steel Market

1. Decarbonization Initiatives: A significant trend in the green steel market is the push for decarbonization across the steel industry. Companies are increasingly adopting methods like hydrogen-based direct reduction iron (DRI) to minimize carbon emissions, aligning with global climate targets and regulations.

2. Government Policies and Support: Many governments are implementing policies and providing incentives to encourage the production of green steel. This includes funding for research and development, tax breaks for companies adopting sustainable practices, and regulations aimed at reducing the carbon footprint of steel production.

3. Technological Advancements: Innovations in production technologies, such as electric arc furnaces and carbon capture utilization and storage (CCUS), are gaining traction. These technologies enhance the efficiency and sustainability of steel production, making it more economically viable to produce green steel.

4. Increased Use of Scrap Steel: The trend toward circular economy practices is driving the increased use of scrap steel in production. By recycling and reusing steel, manufacturers can significantly reduce emissions and energy consumption, contributing to a more sustainable production cycle.

5. Rising Demand from End-Use Industries: Industries such as automotive, construction, and renewable energy are increasingly demanding green steel. As these sectors prioritize sustainability, the need for low-carbon steel solutions is rising, propelling growth in the green steel market.

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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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