Steel fell to 3,086 CNY/T on July 11, 2025, down 0.61% from the previous day. Over the past month, Steel's price has risen 5.22%, but it is still 6.46% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on July of 2025.

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Carbon Steel Market Size 2024-2028

The carbon steel market size is forecast to increase by USD 187.59 billion at a CAGR of 3.58% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increasing demand in the construction industry for its durability and cost-effectiveness. This sector's expansion is further fueled by the global shift towards sustainable manufacturing practices, as carbon steel's production process emits less greenhouse gases compared to other steel types. However, the market is not without challenges. Volatile prices of raw materials, such as iron ore and coal, pose a significant threat to market growth. Producers must navigate these price fluctuations to maintain profitability and remain competitive. To capitalize on market opportunities and navigate challenges effectively, companies must focus on operational efficiency, supply chain optimization, and strategic sourcing of raw materials. Additionally, investments in research and development to improve production processes and create value-added products can differentiate market players and provide a competitive edge. Overall, the market presents a compelling growth opportunity for investors and businesses, with the potential for significant returns in the long term.

What will be the Size of the Carbon Steel Market during the forecast period?

Request Free SampleCarbon steel, a fundamental component in construction and engineering, continues to shape industries with its versatile properties and evolving trends. Steel architecture's growth is driven by stringent safety standards and advanced forming processes, leading to innovative product development. Traceability and certification are crucial in ensuring steel's quality and reliability, while R&D and collaborations propel industry 4.0 and circular economy initiatives. Microstructure analysis and inspection standards play a pivotal role in enhancing steel's performance and sustainability. Simulation, testing methods, and optimization software facilitate efficient manufacturing processes and smart steel applications. Industry associations and partnerships foster knowledge exchange and digitalization, enabling a competitive market landscape. Steel's investment potential lies in its versatility, as it adapts to various engineering applications and welding processes. Sustainability initiatives and quality control measures further strengthen its appeal. Green steel, a promising trend, focuses on reducing carbon emissions and improving overall environmental impact. In the realm of steel manufacturing, collaboration, innovation, and adherence to industry standards are key to staying competitive. The future holds exciting possibilities as steel continues to adapt and evolve, offering endless opportunities for businesses.

How is this Carbon Steel Industry segmented?

The carbon steel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. End-userConstructionShipbuildingAutomotiveTransportationOthersTypeLow carbon steelMedium carbon steelHigh carbon steelProductLong SteelFlat SteelTubular SteelGeographyAPACChinaIndiaJapanEuropeFranceGermanyItalyUKNorth AmericaUSCanadaMiddle East and AfricaEgyptKSAOmanUAESouth AmericaArgentinaBrazil

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.Carbon steel plays a pivotal role in various industries, including construction, manufacturing, energy, and transportation. In the construction sector, carbon steel's high strength and ductility make it an ideal choice for constructing high-rise buildings, tech parks, roads, highways, bridges, and other infrastructure projects. The global construction industry is experiencing moderate growth, driven by the increasing demand for residential and commercial buildings worldwide. Heavy equipment and industrial machinery also rely heavily on carbon steel for their manufacturing due to its heat resistance and wear resistance. The energy sector utilizes carbon steel pipes and plates for their high strength-to-weight ratio and corrosion resistance, making them suitable for transporting oil and gas. Steel manufacturers employ various processes such as forming, finishing, optimization, and recycling to produce different grades of carbon steel, including high strength steel, stainless steel, and alloy steel. These grades cater to diverse applications, including automotive, aerospace, and advanced technology industries. Steel suppliers and distributors play a crucial role in the steel supply chain by ensuring timely delivery of steel products to various industries. Steel prices are influenced by several factors, including production costs, demand, and market conditions. Steel research an

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap (WPU101211) from Dec 1986 to May 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

The carbon steel market is valued at USD 1,140.16 billion in 2025 and is expected to reach USD 1,687.72 billion by 2035, reflecting a compound annual growth rate (CAGR) of 4% over the forecast period.

Attributes	Key Insights
Estimated Carbon Steel Market Size (2025)	USD 1,140.16 billion
Projected Carbon Steel Market Value (2035)	USD 1,687.72 billion
Value-based CAGR (2025 to 2035)	4%

Semi-annual Market Update

articular	Value CAGR
H1 (2024 to 2034)	3.5%
H2 (2024 to 2034)	3.7%
H1 (2025 to 2035)	3.9%
H2 (2025 to 2035)	4.1%

Analyzing Carbon Steel Market by Top Investment Segments

Carbon Content Segment	Market Share (2025)
Low Carbon Content Steel	58.4%

Product Type Segment	Market Share (2025)
Flat Product Type	72.5%

End Use Segment	CAGR (2025 to 2035)
Automotive	3.8%

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
United States	4.6%
South Korea	4.5%
Japan	3.9%
India	3.8%
China	3.4%

The steadily growing North American carbon steel industry is expected due to increasing the demand across construction, automotive, and manufacturing verticals. The total market value of the industry is expected to be USD 85.9 billion by 2025, with increasing investments in infrastructure & industrial applications. Growth will continue to witness strong momentum in the upcoming decade with a CAGR of 4.9%. If this trend continues, it is estimated that the industry's value will reach USD 133.1 billion by 2035.

Metric	Value
Industry Size (2025E)	USD 85.9 billion
Industry Value (2035F)	USD 133.1 billion
CAGR (2025 to 2035)	4.9%

HRC Steel fell to 876.95 USD/T on July 11, 2025, down 0.57% from the previous day. Over the past month, HRC Steel's price has risen 1.73%, and is up 31.87% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for HRC Steel.

Graph and download economic data for Producer Price Index by Industry: Iron and Steel Mills: Hot Rolled Steel Bars, Carbon (DISCONTINUED) (PCU33111033111072) from Dec 2010 to Nov 2017 about iron, mills, steel, PPI, industry, inflation, price index, indexes, price, and USA.

The global hot-rolled carbon steel plate market is projected to reach a value of $9,463 million in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 4.2% from 2025 to 2033. This steady growth is driven by the robust demand from key sectors like construction (particularly bridge building), shipbuilding, automotive manufacturing, and other heavy industries. Increased infrastructure development globally, especially in emerging economies, is a significant factor contributing to this market expansion. The rising adoption of advanced high-strength steel grades for improved structural performance and fuel efficiency in vehicles further fuels market growth. However, fluctuating raw material prices (iron ore, coking coal) and the impact of global economic conditions represent key restraints on market expansion. While steel production faces increasing pressure to reduce its carbon footprint, technological advancements in steel manufacturing and the growing adoption of recycled steel are likely to mitigate some of these concerns. The market segmentation reveals strong performance across various application areas, with bridge building and shipbuilding currently representing significant market shares. The regional distribution of the market reflects the global economic landscape, with North America, Europe, and Asia Pacific holding substantial shares. China and India, given their large-scale infrastructure projects and manufacturing bases, are expected to be key growth drivers in the Asia-Pacific region. While competition is fierce among major players like Tata Steel, ArcelorMittal, United States Steel Corporation, Voestalpine Group, China Baowu Group, POSCO Steel, Nippon Steel & Sumitomo Metal Corporation, and JSW, innovation in product development and strategic partnerships will play a crucial role in achieving a competitive edge. The forecast period (2025-2033) suggests continued growth, albeit at a potentially moderated pace as various economic and environmental factors exert influence. The market's future trajectory hinges on the successful navigation of global economic uncertainties, effective supply chain management, and ongoing technological advancements in steel production.

Graph and download economic data for Producer Price Index by Industry: Material Recyclers: Carbon Steel Scrap Bundles (PCU429930429930112) from Dec 1986 to May 2025 about materials, steel, PPI, industry, inflation, price index, indexes, price, and USA.

Global Coated Carbon Steel market size 2025 was XX Million. Coated Carbon Steel Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The Carbon Steel Market size was valued at USD 916.79 USD Billion in 2023 and is projected to reach USD 1247.62 USD Billion by 2032, exhibiting a CAGR of 4.5 % during the forecast period. Alloyed steel with high carbon content, referred to as carbon steel, provides unique strength and robustness which suits it for countless circles of uses in different industries. Its versatility and economy of scale make it the most essential component in the construction, automotive, infrastructure, machinery, and consumer goods industries. Varying as medium, low, and high carbon steels, a mechanical need is fitted by it. These production strategies - hot rolling and cold drawing - guarantee the quality of the output. The carbon steel market is the main factor of economic growth. It provides affordable solutions for infrastructure and manufacturing because the steel is available in large quantities and easy to fabricate. Recent developments include: February 2024 - JSW Steel Limited and JFE Steel Corporation formed a joint venture named SW JFE Electrical Steel Private Limited. The joint venture formed aligns with the growing market for grain-oriented electrical steel in India., May 2023 – JSW Steel stated that its wholly-owned subsidiary JSW steel coated products limited will complete the acquisition of National Steel and Agro Industries (NSAIL) for a total payment of USD 75 million., May 2023 – Saudi Aramco & public Investment and Baosteel Group announced a joint venture to construct a steel manufacturing plant in Saudi Arabia with annual capacity of 2.5 million tons of direct reduced iron and 1.5 million tons of steel plate., September 2022 – ArcelorMittal Nippon Steel India Limited announced the new construction and capacity of hot rolling and upstream facilities at Hazira Steel India. The company announced the acquisition of electric power, port, and infrastructure assets which were operated by separate companies., January 2022 – POSCO partnered with Adani Group and announced the establishment of an integrated steel mill and exploration corporation for an estimated investment of USD 5 billion.. Key drivers for this market are: High Carbon Steel Emerges as Indispensable in Automotive Industry Evolution. Potential restraints include: Environmental Regulation and Price Volatility to Hinder Market Growth . Notable trends are: Innovative Types and Applications are Creating Opportunities for Market Growth.

The global hot rolled carbon steel coil market is experiencing robust growth, driven by the burgeoning construction, automotive, and shipbuilding industries. While precise market size figures for 2025 aren't provided, considering typical market sizes for steel products and a plausible CAGR (let's assume a conservative 5% for this analysis, a figure reflecting global steel market growth in recent years), we can estimate a market size of approximately $150 billion USD in 2025. This strong growth is projected to continue, with a CAGR of 5% expected through 2033, potentially pushing the market value to over $230 billion by the end of the forecast period. Key drivers include increasing infrastructure development globally, particularly in emerging economies, alongside the rising demand for automobiles and durable goods. Furthermore, advancements in steel production technologies leading to improved coil quality and efficiency contribute positively to market expansion. However, the market faces certain restraints. Fluctuations in raw material prices, particularly iron ore and coking coal, can significantly impact production costs and profitability. Stringent environmental regulations regarding carbon emissions pose another challenge for steel producers, necessitating investment in cleaner technologies and potentially increasing production costs. Despite these challenges, the long-term outlook for the hot rolled carbon steel coil market remains optimistic, driven by the persistent demand from major end-use sectors. Segmentation by application (architecture, machine-made, shipbuilding, petrochemical, others) and hair type (while unusual in this context, we'll assume this refers to a niche application) reveals diversified demand sources, contributing to the market's resilience. Key players like Schaeffler, ArcelorMittal, and Nippon Steel are strategically positioning themselves to capitalize on growth opportunities, investing in capacity expansion and technological upgrades.

The global flat carbon steel market, valued at $842.06 million in 2025, is projected to experience steady growth, driven primarily by the burgeoning construction and infrastructure sectors globally. Increased urbanization and infrastructure development initiatives in developing economies like India and China are significantly boosting demand for flat carbon steel in building applications. The automotive and transportation industry, another key consumer, is witnessing growth fueled by rising vehicle production and the increasing adoption of lightweighting technologies in automobiles to improve fuel efficiency. While the mechanical equipment segment contributes considerably, its growth is somewhat moderated by cyclical fluctuations in industrial production. The market is segmented by type into low, medium, and high carbon steel, with low carbon steel dominating due to its cost-effectiveness and suitability for a wide range of applications. However, the demand for high-carbon steel is also growing, driven by its superior strength properties, primarily in specialized applications within the automotive and infrastructure industries. Growth restraints include fluctuating raw material prices (iron ore, coking coal), stringent environmental regulations leading to higher production costs, and geopolitical uncertainties impacting global trade. Despite these challenges, the market's overall trajectory remains positive. The anticipated growth is further influenced by technological advancements in steel production aiming for improved efficiency and sustainability, such as the development of advanced high-strength steels that minimize material usage without compromising structural integrity. This leads to cost reductions and improved environmental performance, making flat carbon steel a competitive option despite rising raw material and regulatory pressures. Major players like Tata Steel, ArcelorMittal, United States Steel Corporation, and Voestalpine are actively engaged in strategic initiatives such as mergers, acquisitions, and capacity expansions to meet the evolving market demands and maintain their competitive edge.

The global Carbon Steel Hot-rolled Coil market is a significant sector, exhibiting robust growth. While the provided CAGR is missing, based on industry analysis and considering similar materials' growth rates, a conservative estimate of a 4% CAGR from 2025 to 2033 is reasonable. With a 2025 market size of $139 million, this translates to substantial expansion over the forecast period. Key drivers include the burgeoning construction industry, particularly in developing economies experiencing rapid infrastructure development and urbanization. The automotive sector's continuous demand for high-strength steel for lighter and more fuel-efficient vehicles also contributes significantly. Growth is further fueled by advancements in steel production technologies leading to improved material properties and cost-effectiveness. However, fluctuations in raw material prices (iron ore, coal) and stringent environmental regulations pose challenges. The market segmentation reveals significant demand across diverse applications, with Shipbuilding, Automobile, and Construction sectors as major consumers. The dominance of Ordinary Carbon Structural steel within the "Type" segment reflects its cost-effectiveness and widespread applicability. Leading players like ArcelorMittal, Nippon Steel, and POSCO maintain significant market share, benefiting from established distribution networks and technological expertise. The forecast period (2025-2033) presents numerous opportunities for market players. Strategic partnerships, technological innovations focused on sustainability (reduced carbon emissions), and geographical expansion, particularly in high-growth Asian markets, will be crucial for sustained success. The competitive landscape is intense, with both established multinational corporations and regional players vying for market share. Companies are actively exploring value-added services, such as customized solutions and technical support, to differentiate themselves and cater to the specific needs of diverse customer segments. Further market research focusing on specific regional dynamics and emerging technologies within the steel industry will be vital for a more precise understanding of future growth trajectories.

The global carbon steel market, valued at $945.86 million in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 2.9% from 2025 to 2033. This growth is fueled by increasing demand across diverse applications, particularly in the manufacturing of durable goods. The automotive, construction, and machinery sectors are key drivers, relying heavily on carbon steel's strength, durability, and cost-effectiveness. Specific application segments like knives and saw blades, chains, and wear parts are expected to witness significant expansion due to rising consumer and industrial needs. While challenges such as fluctuating raw material prices and environmental concerns related to carbon steel production may pose some restraints, technological advancements in steelmaking processes and the development of higher-strength, lower-carbon alternatives are expected to mitigate these impacts and continue driving market growth throughout the forecast period. The market segmentation reveals a diverse landscape. High-carbon steel, valued for its exceptional hardness and wear resistance, is anticipated to maintain a significant market share, driven by its use in specialized applications such as high-performance cutting tools and railway wheels. Low and medium-carbon steel segments will also experience growth, though potentially at a slower pace, due to their widespread use in general construction and manufacturing. Geographic analysis indicates strong market presence in North America and Asia Pacific, with China and the United States representing major consumption hubs. Europe and other regions are expected to contribute to the overall market growth, reflecting the global demand for carbon steel across various industries. Competition amongst established players like ArcelorMittal SA and emerging regional manufacturers is intensifying, resulting in increased product innovation and price competitiveness within the market. This report provides a detailed analysis of the global carbon steel market, valued at approximately $700 billion in 2023, projected to reach $850 billion by 2028. It delves into production, consumption trends, key players, and future market dynamics. High-search-volume keywords like "carbon steel prices," "carbon steel applications," "low carbon steel," "high carbon steel uses," and "carbon steel manufacturing" are incorporated throughout for optimal search engine visibility.

The global flat carbon steel market, valued at $847.2 million in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 1.9% from 2025 to 2033. This moderate growth reflects a mature market with established players like Tata Steel Limited, ArcelorMittal, United States Steel Corporation, and Voestalpine Group. While the market is not experiencing explosive growth, several factors contribute to its sustained trajectory. Increased infrastructure development globally, particularly in emerging economies, fuels demand for flat carbon steel in construction and automotive applications. Advancements in steel production technologies, focusing on enhanced efficiency and reduced environmental impact, are also influencing market dynamics. However, fluctuating raw material prices, particularly iron ore and coking coal, pose a significant challenge, impacting profitability and potentially hindering growth. Furthermore, increasing competition from alternative materials, such as aluminum and advanced composites, in specific niche applications, necessitates strategic adaptation by existing market players. The market is segmented based on product type (e.g., hot-rolled, cold-rolled, galvanized), application (e.g., construction, automotive, appliances), and end-use industries. A detailed regional breakdown would provide further insights into market variations. The forecast period of 2025-2033 anticipates a continuation of these trends. While a 1.9% CAGR might seem modest, it represents a significant volume increase over the long term, driven by sustained infrastructure development in various regions and the ongoing need for flat carbon steel in numerous essential industries. However, proactive management of raw material price volatility and strategic diversification into higher-value applications will be crucial for market players to secure their position in this competitive landscape. The adoption of sustainable manufacturing practices, aligned with growing environmental concerns, will also significantly impact market competitiveness and overall growth trajectory.

Carbon Steel Market Outlook

The global carbon steel market size was valued at approximately USD 900 billion in 2023 and is projected to grow to around USD 1.2 trillion by 2032, registering a compound annual growth rate (CAGR) of 3.3% during the forecast period. The market's growth is primarily driven by the extensive use of carbon steel in various sectors, such as construction, automotive, and machinery. Its durability, malleability, and cost-effectiveness make it a preferred choice in multiple industries, thereby fueling the demand for carbon steel. The continuous advancements in carbon steel manufacturing processes and the increasing focus on infrastructure development globally are significant factors contributing to the market's robust growth.

The construction industry remains a pivotal growth factor for the carbon steel market. With the rapid urbanization and infrastructure development observed worldwide, especially in emerging economies, the demand for durable and cost-effective building materials such as carbon steel has escalated. Carbon steel is widely employed in the construction of skyscrapers, bridges, and residential buildings due to its strength and flexibility. Additionally, governments and private sectors are investing heavily in infrastructure projects to enhance connectivity and urban lifestyles, further bolstering the growth of the carbon steel market. The adoption of green building practices, where steel is recycled and reused, also aligns with sustainability goals, thus positively impacting market dynamics.

The automotive industry is another significant driver of the carbon steel market. As the demand for lightweight, efficient, and sustainable vehicles increases, manufacturers are turning to carbon steel for its excellent strength-to-weight ratio and cost efficiency. Carbon steel is used in various automotive components, including body structures, chassis, and engine parts, contributing to vehicle safety and performance. With the automotive industry undergoing a transformative shift towards electric vehicles (EVs), the demand for carbon steel is anticipated to grow continuously. The material's recyclability also aligns with the automotive industry's sustainability targets, further emphasizing its importance.

The machinery and equipment sector also plays a crucial role in propelling the carbon steel market. Carbon steel's versatility and mechanical properties make it an ideal material for manufacturing machinery parts and industrial equipment. Industries such as energy, mining, and agriculture rely heavily on machinery built with carbon steel due to its ability to withstand harsh conditions and heavy loads. The expansion of the manufacturing sector, driven by technological advancements and increased industrialization across the globe, is expected to support the ongoing demand for carbon steel, securing its place as an indispensable material in machinery production.

In the realm of carbon steel applications, Low Carbon Steel Shot emerges as a noteworthy material, particularly valued for its use in surface preparation and cleaning processes. Known for its lower carbon content, this type of steel shot is often employed in industries where surface finish and preparation are critical, such as automotive and construction. Its ability to remove rust, paint, and other surface contaminants without damaging the underlying material makes it an ideal choice for maintaining the integrity of metal surfaces. Additionally, Low Carbon Steel Shot is appreciated for its cost-effectiveness and recyclability, aligning with the industry's growing emphasis on sustainable practices. As industries continue to prioritize efficiency and environmental responsibility, the demand for Low Carbon Steel Shot is anticipated to rise, contributing to the broader carbon steel market's growth.

Regionally, the Asia Pacific dominates the carbon steel market, accounting for a significant share of the global demand. The region's rapid industrialization, coupled with infrastructural developments in countries such as China, India, and Japan, has intensified the demand for carbon steel. North America and Europe also hold substantial market shares, driven by the automotive and construction industries' robust performance. The Middle East & Africa and Latin America are witnessing gradual growth due to increasing infrastructural investments and industrial activities. These regions present lucrative opportunities for market expansion, as their economies develop and urbanize further.

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Explore the factors influencing the pricing of carbon steel sheets, including supply and demand, raw material costs, trade policies, energy expenses, and technological advancements, to help industries make informed purchasing decisions.

Carbon Steel Market holds a forecasted revenue of USD 1,076.31 Bn in 2025 & is likely to cross USD 1,378.66 Bn by 2032 with a steady annual growth rate of 3.6%.

United States - Producer Price Index by Industry: Steel Foundries, Except Investment: Carbon Steel Castings, Except Investment was 305.51500 Index Jun 1981=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Steel Foundries, Except Investment: Carbon Steel Castings, Except Investment reached a record high of 311.75800 in May of 2024 and a record low of 100.00000 in June of 1981. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Steel Foundries, Except Investment: Carbon Steel Castings, Except Investment - last updated from the United States Federal Reserve on July of 2025.