Portland, OR — (SBWIRE) — 11/07/2017 — Progressive Markets has added a report, “Carbon Steel Market – Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025″, according to which the market is growing at a considerable CAGR.
Also known as plain carbon steel, carbon steel is an alloy that constitutes carbon and iron. The alloy has carbon content up to 2% by weight. This presence of carbon lends hardness to the alloy. Steel can be considered as carbon steel where there is no minimum amount of substances such as chromium, cobalt, molybdenum, nickel, titanium, tungsten, vanadium, zirconium, or any other element to be added to achieve a desired alloying effect. One of the most widely used among steel composites, carbon steel is classified into low carbon steel, medium carbon steel, high carbon steel, and ultrahigh carbon steel. The classification is based on the amount of carbon content in the carbon steel. Low carbon steel contains 0.05 – 0.25% carbon, medium carbon steel contains 0.29% – 0.54% carbon, high carbon steel contains 0.55% – 0.95% carbon, and ultrahigh carbon steel contains 1.25 to 2.0% carbon.
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Carbon steel has a wide number of applications. Low carbon steel, which is the most abundantly used and cost effective among the types of carbon steel, finds uses in shipbuilding, wires, vehicle bodies, fencing, railings, and domestic appliances. Medium carbon steel finds applications in buildings, bridges, axles, gears, shafts, rails, pipelines, cars, and more. High carbon steel, which has a much higher tensile strength, finds applications in cutting tools, blades, punches, dies, and more. Ultrahigh carbon steel has remarkable structural properties and finds applications in blades, cutting tools, large machine parts, hot water radiators, industrial castings, cooking pots, and more.
Drivers and Restraints
According to the market report, factors such as the growth in the construction industry and the abundant use of steel in the automotive industry are providing an impetus to the growth of the carbon steel market. On the other hand, the property of ductility which limits carbon steel’s use for welding purposes is a factor that limits the growth of the market.
Carbon Steel Market Segmentation:
The report segments the carbon steel market based on type, shape, end-user industry, and geography. Based on the type, the market is classified into alloy steel, carbon steel, and stainless steel. By shape, the market is broken down into long steel, tabular steel, and flat steel. Based on end-user industry, the market is fragmented into infrastructure & transport, automotive, shipbuilding, and construction. Based on geography, the report studies the carbon steel market across regions such as North America, Europe, Asia-Pacific, and LAMEA. In North America, the market covers regions such as the U.S., Canada, and Mexico. In Europe, the market covers the regions such as the UK, Germany, France, Spain, and the rest of Europe. In Asia-Pacific, the market covers the regions such as China, Japan, India, South Korea, and the other parts of Asia-Pacific. In LAMEA, the market covers regions such as Brazil, Argentina, Africa, Saudi Arabia, and the other parts of LAMEA.
Key Market Players
The top players operating in the global carbon steel industry include Curtis Steel Co., Inc., Bushwick Metals LLC, Omega Steel Company, ArcelorMittal SA, Continental Steel & Tube Co., Xinyu Iron & Steel Co., Ltd., Dongbei Special Steel Group Co., Ltd.., Diler Holding A.S., Gruppo Lucefin, and Afarak Group.
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The report provides a comprehensive analysis of the entire carbon steel industry, incorporating carbon steel market size, market share (2014-2025), carbon steel market survey, market dynamics, current and future trends, market segmentation, information about key industry players, market intelligence, carbon steel price index, and carbon steel price trends. The drivers, restraints, and challenges that directly influence the growth of the market help determine the opportunity for growth of the market. The report presents the historic market size of each segment and sub-segment for each of the mentioned regions from 2014 -2016.
The carbon steel market forecast and estimations of each segment are provided by studying the current and future market potential from 2017 to 2025. This helps investors, new entrants, and market players decide on initiating their business ventures. The Porter’s five forces analysis elucidates the degree of competition existing in the industry and the market potential. The quantitative analysis of the market helps investors and players capitalize on the prevailing market opportunities. The report analyses the market across various geographical regions, thereby helping to identify the prevailing opportunities.