Steel traded flat at 3,255 CNY/T on July 23, 2025. Over the past month, Steel's price has risen 10.30%, and is up 2.20% compared to the same time last year, 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.

Global Stainless Steel Market is expected to reach at a CAGR of 6.2% during the forecast period 2024-2031 | DataM Intelligence

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Carbon Steel Market Size 2025-2029

The carbon steel market size is forecast to increase by USD 197.5 billion, at a CAGR of 3.3% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the expanding construction industry. This sector's increasing demand for durable and cost-effective steel solutions is fueling market expansion. Additionally, there is a rising trend towards sustainable manufacturing practices, as companies seek to reduce their environmental footprint and improve their social responsibility. However, the market faces challenges due to the volatility of raw material prices, which can significantly impact production costs and profitability. Environmental conditions necessitate the use of anti-corrosion coatings, further bolstering market demand.
As such, market participants must navigate this price instability while continuing to meet customer demands and maintain competitive pricing. Companies that successfully manage these dynamics and innovate to meet evolving customer needs will be well-positioned to capitalize on the market's growth opportunities. From the hot rolling process to the final product, every stage of carbon steel production is meticulously controlled to ensure the highest quality and performance. Volatile prices of raw materials, such as iron ore and coal, pose a significant threat to market growth.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, driven by advancements in steel manufacturing processes and the diverse applications of this versatile material across various sectors. The hot rolling process and continuous casting technique have revolutionized steel production, enabling the mass production of high strength steel with superior mechanical properties. For instance, the adoption of high strength steel in the automotive industry has led to a significant increase in fuel efficiency and reduced emissions. The steel manufacturing process undergoes rigorous testing to ensure adherence to material specification standards.

Impact toughness testing, surface hardness testing, and corrosion resistance rating assessment are essential to evaluate the steel's performance under various conditions. Carbon steel alloying, annealing temperature control, and heat treatment processes like quenching and tempering are crucial in optimizing the steel's mechanical properties. Non-destructive testing methods, such as ultrasonic testing and X-ray inspection, are employed to ensure product quality and reliability. The electric arc furnace and basic oxygen furnace are integral to the steelmaking process, reducing iron ore to molten steel. Steel microstructure analysis and chemical composition analysis are essential in understanding the steel's behavior during manufacturing and its final properties.

The market is a dynamic and ever-evolving industry, driven by advancements in steel manufacturing processes and the diverse applications of this versatile material.

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 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Construction
  Shipbuilding
  Automotive
  Transportation
  Others


Type

  Low carbon steel
  Medium carbon steel
  High carbon steel


Form Factor

  Flat products
  Long products
  Tubular products


Geography

  North America

    US


  Europe

    France
    Germany
    Italy
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The Construction segment is estimated to witness significant growth during the forecast period. Carbon steel, a key component in various industries, undergoes a intricate manufacturing process that includes hot rolling, steel manufacturing, and alloying with elements like manganese and silicon for high strength steel. Post-production, processes such as galvanizing, impact toughness testing, and surface hardness testing ensure the steel meets specifications. The steel industry's growth is driven by construction, which accounted for the largest market share in 2024, with a steady expansion of residential and commercial buildings globally. High-rise structures, tech parks, and infrastructure projects necessitate carbon steel's use due to its superior mechanical properties, including yield strength and tensile strength. Carbon steel tubes have gained significant traction in Europe due to the increasing demand from various end-user industries, including oil and gas, power generation, and infrastru

HRC Steel fell to 867.94 USD/T on July 22, 2025, down 0.69% from the previous day. Over the past month, HRC Steel's price has fallen 4.09%, but it is still 32.51% higher than a year ago, 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.

Global High-Speed Steel Cutting Tool Market is expected to grow at a CAGR of 4.19% during the forecast period 2024-2031

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What is the Size of FeSi15 Market?

The FeSi15 market size is forecast to increase by USD 344.2 million, at a CAGR of 5.1% between 2023 and 2028. The market is experiencing significant growth due to several key trends and drivers. One major factor is the increasing demand for greener alternatives in various industries, leading to a rise in the adoption of Fesi15 as a sustainable option. Another trend is the expansion of the electric vehicle (EV) market, which relies heavily on Fesi15 for battery production. Market competition is intensifying as alternative materials gain popularity, necessitating greater operational efficiency and investment in sustainable practices. The regulatory environment is also becoming more stringent, pushing companies to adopt recycling methods and reduce their carbon footprint. These factors collectively contribute to the growth of the market, making it an attractive investment opportunity for businesses focused on sustainability and efficiency.

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Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Application

  Mining sector
  Metal recycling
  Others


Type

  Atomized powder FeSi15
  Milled powder FeSi15


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  North America

    US


  South America

    Brazil


  Middle East and Africa

Which is the Largest Segment Driving Market Growth?

The mining sector segment is estimated to witness significant growth during the forecast period. The market holds significant importance in various industries, particularly in the mining sector, due to its application in supply chain processes such as ore separation. FeSi15's unique magnetic properties make it an essential component in ore flotation, enhancing the efficiency of mineral extraction. In this process, FeSi15 isolates valuable minerals like aluminum, gold, diamonds, and copper from the ore, improving overall production processes.

Get a glance at the market share of various regions Download the PDF Sample

The mining sector segment was valued at USD 507.50 million in 2018. Furthermore, in heavy media separation, FeSi15's high density and magnetic capabilities boost mineral extraction quality and efficiency. Infrastructure projects in the mining industry also benefit from the use of FeSi15, as it ensures safety protocols during production processes. Adhering to sustainable practices, FeSi15 contributes to the production of high-quality electronics, ensuring economic stability for businesses in the sector. In summary, the FeSi15 market plays a pivotal role in the mining industry, enhancing mineral extraction processes and contributing to the production of high-quality electronics.

Which Region is Leading the Market?

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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Asia-Pacific (APAC) region plays a pivotal role in the global ferro-silicon (FeSi15) market due to its extensive steel production capabilities and ongoing urbanization. China, the world's leading steel producer, accounted for approximately 53% of the global steel output in 2023, with a production capacity of around 1.170 billion tons, marking a 2% year-over-year increase. FeSi15 is an essential component in steel manufacturing, improving the steel's quality and properties. Urbanization, particularly in countries like India and Australia, is driving substantial infrastructure development in APAC. This growth trend highlights the importance of FeSi15 in the region's steel industry. As global pandemics continue to impact production efficiency, there is a growing emphasis on implementing sustainable production methods in the ferroalloys sector. Solar PV capacity expansion and cost reduction strategies are key focus areas to ensure long-term profitability and competitiveness. The market is expected to grow steadily, driven by these factors and the region's industrial development.

How do Technavio's company ranking index and market positioning come to your aid?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Anyang Wanhua Metal Material Co. Ltd. - The company offers FeSi15 that is produced using high-quality raw materials like coke, steel scrap, and quartz.

Technavio provides the ranking index for the top 13 companies along

According to Cognitive Market Research, the global market Electric Arc Furnace market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.

Asia-Pacific accounted for a share of over XX% of the global market size of USD XX million.
North America held the largest share of the global Turbo Generator market around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Europe held a market share of around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
The Latin American market is around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.

Market Dynamics of the Electric Arc Furnace Market

Key Drivers of the Electric Arc Furnace Market.

Increasing the application of steel scrap will help boost the market.

Steel waste is being used more often worldwide to reduce carbon emissions. By decreasing the requirement for the extraction of iron ore to produce steel, recycling steel waste increases the economic viability of the steel industry and reduces its environmental impact. As a result, there are notable reductions in CO2 emissions, water and energy usage, and air pollution. According to, CMC keeps more than 19 billion pounds of scrap metal out of landfills each year by using solely 100% recycled scrap steel as the main raw material in their steel production process.

Steel can be prepared using iron ore, steel, or steel scrap or in combination with other raw materials. The demand for steel scrap is significantly impacted by changes in iron ore prices.

Furthermore, to reduce their overall cost of manufacturing, firms have begun to use steel waste as their primary raw material source due to rising electricity and energy expenses. According to US Steel, about 5.2 million metric tonnes of scrap steel were recycled by US Steel in 2021 in accordance to reduce the problems.

(Source:https://www.ussteel.com/documents/40705/43725/USS_CSR21_Full_Report.pdf).

Steel may be recycled repeatedly without lowering the quality of the final goods produced. Consequently, throughout the forecast period, the market's expansion will be driven by an increase in the application • For instance, the World Steel Association states that 71 countries reported to the World Steel Association (world steel) 165.1 million tonnes (Mt) in May 2024, a 1.5% increase compared to May 2023.

(Source:https://worldsteel.org/media/press-releases/2024/may-2024-crude-steel-production/).

Increasing production of direct reduced iron (DRI) will help the market to grow.

Coking coal is used in blast furnaces as a source of energy and carbon in the BF-BOF method of manufacturing steel. Another method of producing steel is called "direct reduction of iron," or DRI, which is produced by burning non-coking coal or natural gas and combined with scrap steel to make crude steel. The production of natural gas and non-coking coal has expanded significantly due to advancements in their respective extraction and mining technologies. It has aided in maintaining their cheap prices. As the cost of manufacturing decreases, the production of DRI typically increases as a result of low natural gas and non-coking coal. According to the report by GMK Center, global direct reduced iron (DRI) production has increased in the year 2023 by 7.4% as compared to 2022.

(Source:https://gmk.center/en/news/global-dri-production-increased-by-7-y-y-in-2023/#:~:text=Global%20direct%20reduced%20iron%20(DRI,of%20the%20total%20DRI%20production).

Furthermore, it is anticipated that the US, India, and Egypt will grow their respective shares of the DRI-electric arc furnace pathway in the steel sectors. Supply-side elements are also pushing DRI companies to invest in new DRI plants, such as the rise in natural gas exports from the US, Qatar, and Australia. Therefore, during the forecast period, the market's grow...

Global Metal Fabrication Service Market size was valued at USD 20.94 billion in 2022 and is poised to grow from USD 21.92 billion in 2023 to USD 31.66 billion by 2031, growing at a CAGR of 4.7% during the forecast period (2024-2031).

Worldwide sales of machine tools are expected to reach US$ 71.6 billion in 2024. The global machine tool market has been forecasted to expand at 5.1% CAGR and ascend to a valuation of US$ 117.74 billion by the end of 2034.

Report Attribute	Detail
Machine Tool Market Size (2024E)	US$ 71.6 Billion
Forecasted Market Value (2034F)	US$ 117.74 Billion
Global Market Growth Rate (2024 to 2034)	5.1% CAGR
East Asia Market Share (2024E)	29.9%
North America Market Value (2024E)	US$ 16.25 Billion
Metal Cutting Segment Value (2034F)	US$ 92.55 Billion
Automotive & Transportation Segment Value (2034F)	US$ 48.98 Billion
Key Companies Profiled	Trumpf; Schuler AG; Makino; Mitsubishi Heavy Industries Machine Tools Co., Ltd.; Doosan Machine Tools Co., Ltd.; Yamazaki Mazak Corporation; Hyundai WIA; Okuma Corporation; Chiron Group SE; DN Solutions; Amera Seiki.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 13.23 Billion
Growth Rate (2024 to 2034)	5.2% CAGR
Projected Value (2034F)	US$ 21.87 Billion

Attribute	South Korea
Market Value (2024E)	US$ 4.58 Billion
Growth Rate (2024 to 2034)	5.6% CAGR
Projected Value (2034F)	US$ 7.87 Billion

Category-wise Insights

Attribute	Metal Cutting
Segment Value (2024E)	US$ 56.13 Billion
Growth Rate (2024 to 2034)	5.1% CAGR
Projected Value (2034F)	US$ 92.55 Billion

Attribute	Automotive & Transportation
Segment Value (2024E)	US$ 29.71 Billion
Growth Rate (2024 to 2034)	5.1% CAGR
Projected Value (2034F)	US$ 48.98 Billion

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What is the Size of Amorphous Steels Market?

The market size is forecast to increase by USD 184,235.9 at a CAGR of 5.1% between 2023 and 2028. Amorphous steels, characterized by their unique metallic structure, have gained significant traction in various industries due to their exceptional mechanical properties. The market for amorphous steels is driven by the supportive regulatory environment for their usage, particularly in applications such as transformers and body armor. Strategic alliances and collaborations among key players are also fueling market growth. However, the availability of viable alternatives, such as crystalline steels, poses a challenge to market expansion. In addition, the increasing demand for meteor resistant casings and the adoption of advanced technologies like cold spray in manufacturing processes are trends expected to shape the future of the market. Amorphous ribbons, the primary raw material for producing amorphous steels, are anticipated to witness significant demand due to their superior magnetic properties and high strength-to-weight ratio.

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Market Segment

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'Thousand' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Type

  Amorphous ribbon
  Nano-crystalline ribbon


Application

  Distribution transformer
  Consumer electronics
  Automotive
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    US


  Europe



  South America



  Middle East and Africa

Which is the Largest Segment Driving Market Growth?

The amorphous ribbon segment is estimated to witness significant growth during the forecast period. The amorphous ribbon segment is a significant part of the global market, fueled by ongoing technological innovations and expanding production capabilities. Qingdao Yunlu Advanced Materials Co., Ltd. stands out as a key player in this domain, utilizing its cutting-edge technology and inventive strategies.

Get a glance at the market share of various regions Download the PDF Sample

The amorphous ribbon segment was the largest segment and valued at USD 395,133.80 in 2018. These lines commenced operations in August 2024, amplifying the company's production capacity to 120,000 tons. This expansion not only fortifies the company's competitiveness but also enables it to cater to the burgeoning market demand in sectors such as distribution transformers, electric machinery, and defense, where amorphous steels offer superior elastic limit and resistance to space debris protection. Hence, such factors are fuelling the growth of this segment during the forecast period.

Which Region is Leading the Market?

For more insights on the market share of various regions Request Free Sample

APAC is estimated to contribute 80% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Asia Pacific region is a pivotal contributor to the global market, fueled by burgeoning industrial activities and technological innovations. India, in this region, holds a prominent position, owing to its extensive automotive manufacturing capabilities. Amorphous steels, with their superior mechanical strength and energy-efficient properties, play a vital role in the manufacturing of thin foils and ribbons for various industries, including automotive, electronics, and energy, further bolstering the market's growth in the region.

How do Technavio's company ranking index and market positioning come to your aid?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Advanced Technology and Materials Co. Ltd: The company offers amorphous steels, which are widely utilised in industries such as power transmission and distribution, power electronics, new energy, transportation, aerospace, and medical equipment.

Technavio provides the ranking index for the top 20 companies along with insights on the market positioning of:

Aichi Steel Corp.
Anhui Zhongheng Composite Mstar Technology Co., Ltd
China Amorphous Technology Co.Ltd.
Foshan huaxin microcrystalline metal Co. Ltd.
GAOTUNE TECHNOLOGIES Co. Ltd.
Hangzhou Ualloy Material Co. Ltd.
Hitachi Ltd.
Langfeng New Materials Technology Co. Ltd.
Metglas, Inc.
Qingdao Yunlu Advanced Materials Technology Co.Ltd.
Qingdao Yunlu Energy Technology Co. Ltd.
Shaanxi Gold-Stone Electronics Co. Ltd.
Shanghai malio industrial LTD
Shenzhen Amorphous Technology Co. Ltd.
Shouke Electronic Co. Ltd.
Toshiba Materials Co. Ltd.
VACUUMSCHMELZE

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Refractory Materials Market Size 2024-2028

The refractory materials market size is forecast to increase by USD 7.7 billion at a CAGR of 5.38% between 2023 and 2028. The market growth hinges on several factors, notably advancements in production capacity within the steel industry, driven by escalating demand from various end-user sectors. The increase in infrastructure projects, automotive technologies, and construction activities fuels the need for steel, propelling market expansion. Additionally, heightened research and development endeavors by industry players contribute to innovation and the introduction of advanced steel products tailored to meet evolving market demands. These factors collectively drive market growth, fostering a dynamic landscape characterized by technological advancements and increasing market competitiveness. As steel remains a cornerstone material across diverse industries, stakeholders must continuously adapt to changing market dynamics and consumer preferences to capitalize on emerging opportunities and sustain growth in this pivotal sector.

What will be the Size of the Refractory Materials Market During the Forecast Period?

To learn more about the refractory materials market report, Request Free Sample

Refractory Materials Market Segmentation

In industries reliant on high temperatures like rotary kilns and reactors, refractory materials play a vital role in ensuring durability and insulation against thermal stress. From manufacturing units to automotive sectors, these materials withstand elevated temperatures and resist physical and chemical changes, essential for industrial processes. Companies like Calderys dominate this market with diverse business segments and strong geographical presence. Competitive dynamics and government initiatives shape the industry, often detailed in industry journals and government websites, amid rapid infrastructure development.

The refractory materials market is seeing growth driven by the demand for high-performance refractories in the steel industry and advanced ceramic refractories. The development of refractory linings for kilns and furnaces, along with automation in refractory production, enhances efficiency. The non-ferrous metal industry also contributes to market demand, alongside the need for refractory materials in cement production. Emerging markets and nanotechnology in refractories further boost market expansion.

The refractory materials market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

Product Type Outlook 

  Clay
  Non-clay





Application Outlook 

  Iron and steel
  Non-metallic materials
  Non-ferrous metals
  Others





Type Outlook 

  Shaped
  Monolithic


Region Outlook

  APAC

    China
    India


  Europe

    The U.K.
    Germany
    France
    Rest of Europe


  North America

    The U.S.
    Canada


  South America

    Brazil
    Argentina
    Chile


  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa

By Product Type

The market share growth of the clay segment will be significant during the forecast period. Clay refractory materials include fireclay, high-alumina, and mullite ceramics. Fire clay refractory products, being the most common refractory, are used in almost every end-user industry that involves high-heat processing operations, including iron and steel, cement, non-ferrous metals, glass, ceramics, petrochemicals, and sugar. As most of these refractory materials are consumed in the iron and steel industry, the demand for these refractories is dependent on the growth of the global iron and steel industry.

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The clay segment was valued at USD 17.50 billion in 2018. The demand for clay refractories will continue to surpass that for non-clay refractories, owing to the rise in the use of high alumina-based and other high-value materials, primarily across the iron and steel, and cement industries. The largest market for this segment is APAC, where there has been rapid growth in construction and industrial activities, which supplements the demand for iron and steel products. Therefore, the rising demand for iron and steel products in various end-user industries will supplement the growth of the global refractories materials market in this segment during the forecast period.

By Region

For more insights on the market share of various regions, Request PDF Sample now!

APAC is estimated to contribute 62% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The incr

The global pallet market is projected to reach a valuation of approximately US$ 62.3 billion in 2024 and climb to US$ 109.5 billion by the end of 2034, which amounts to a compound annual growth rate (CAGR) of 5.8% between 2023 and 2032.

Report Attributes	Details
Pallet Market Size (2024E)	US$ 62.3 Billion
Forecasted Market Value (2034F)	US$ 109.5 Billion
Global Market Growth Rate (2024 to 2034)	5.8% CAGR
North America Market Value (2034F)	US$ 26.1 Billion
East Asia Market Value (2024E)	US$ 12.3 Billion
Sales of Plastic Pallets (2034F)	US$ 28 Billion
Key Companies Profiled	Palettes Gestion Services Brambles Ltd. Cabka Group GmbH CHEP PalletOne Falkenhahn AG Tasler Rehrig Pacific Company LOSCAM Schoeller Allibert Tasler, Inc. World Steel Pallet Co., Ltd L.C.N Inc.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 13.2 Billion
Growth Rate (2024 to 2034)	5.6% CAGR
Projected Value (2034F)	US$ 22.7 Billion

Attribute	China
Market Value (2024E)	US$ 8.9 Billion
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 16.3 Billion

Category-wise Insights

Attribute	Paper Pallets
Market Value (2024E)	US$ 11.1 Billion
Growth Rate (2024 to 2034)	5.7% CAGR
Projected Value (2034F)	US$ 19.4 Billion

Attribute	Block Pallets
Market Value (2024E)	US$ 21.5 Billion
Growth Rate (2024 to 2034)	6.1% CAGR
Projected Value (2034F)	US$ 39 Billion

Snapshot img

Nickel Market Size 2024-2028

The nickel market size is projected to increase by USD 16.55 billion, at a CAGR of 4.06% between 2023 and 2028. Market growth hinges on multiple factors, notably the surge in infrastructure development and urbanization in emerging economies, broadening electroplating applications of nickel, and the prevalence of stringent regulations. Emerging economies' focus on infrastructure drives demand for nickel in construction and urban development projects. Additionally, the expanding use of nickel in electroplating applications across industries enhances market prospects. However, stringent regulations, particularly concerning environmental and labor standards, present challenges, potentially restraining market expansion despite favorable growth drivers.

What will be the Size of the Market During the Forecast Period?

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Market Segment

The nickel (element) is intertwined with various industries, including lightweight vehicles, solar panels, and food and beverage. Alongside chromium (metal) and titanium, nickel contributes to the production of solar panels and other applications. However, concerns persist regarding sulfur dioxide emissions, urging the industry to adopt more sustainable practices in nickel and chromium extraction.

By Type

The primary nickel segment is estimated to witness significant growth during the forecast period. Primary nickel, a key segment in the market, encompasses various types like nickel pig iron (NPI), ferronickel, and nickel matte, each serving distinct industrial purposes. NPI, notably favored for stainless steel production, is cost-effective and widely utilized, particularly in regions like China.

Get a glance at the market contribution of various segments View the PDF Sample

The primary nickel segment was the largest segment and was valued at USD 29.52 billion in 2018. Further, ferronickel, produced via nickel ore reduction, finds applications in stainless steel and alloy manufacturing. Noteworthy vendors such as Eramet and Vale SA invest in ferronickel production, driving market growth alongside nickel matte usage by companies like PJSC MMC Norilsk Nickel.

By Application

Stainless steel, a significant segment in the market, finds widespread use across industries like construction, automotive, healthcare, and food processing due to its corrosion resistance, strength, and durability. With nickel playing a pivotal role in stainless steel production, its alloying process accounts for a substantial portion of global stainless steel output. Key vendors like BHP Group plc and PT Indonesia Asahan Aluminum provide various nickel grades tailored for stainless steel applications, driving market growth.

By Region

APAC is estimated to contribute 93% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.

For more insights on the market share of various regions Download PDF Sample now!

Indonesia and China are major contributors to the market in the APAC region, collectively dominating global nickel output. Indonesia's vast nickel reserves drive its significant production levels, with the country boasting the world's largest nickel reserve according to the US Geological Survey. China's robust stainless steel industry, fueled by infrastructure development and urbanization, heavily relies on nickel imports. Additionally, China's rapid progress in electric vehicle (EV) manufacturing boosts demand for nickel-based batteries, further amplifying nickel's importance in the APAC market.

Market Dynamics

The market plays a pivotal role in various sectors, including the automotive industry and consumer goods industry. As a key component in lithium-ion batteries such as Nickel Cobalt Aluminum (NCA) and Nickel Manganese Cobalt (NMC), nickel powers the rise of electric cars and energy storage systems. Nickel plays a crucial role in secondary battery recycling, as it is a valuable material recovered and reused in the production of new batteries. Its applications extend to special steels, stainless steel (SS), and automobile batteries, ensuring lightweight and durable solutions. However, concerns over greenhouse emissions and health risks persist, prompting ongoing innovations in nickel usage across the construction industry, wind turbines, and medical industry.

Key Market Driver

An increase in infrastructure development and urbanization in emerging economies is the key factor driving the market. The rapid economic expansion in emerging economies such as China, India, and Southeast Asia is fueling urbanization and industrial development. Nickel, known for its corrosion resistance and strength, is witnessing heightened demand due to the surg

Global Automotive Casting Market size was valued at USD 96.85 billion in 2022 and is poised to grow from USD 102.27 billion in 2023 to USD 158.15 billion by 2031, at a CAGR of 5.60% during the forecast period (2024-2031).

Global Mining Drills and Breakers Market size was valued at USD 14.74 Billion in 2022 and is poised to grow from USD 15.34 Billion in 2023 to USD 21.16 Billion by 2031, at a CAGR of 4.10% during the forecast period (2024-2031).

Global Bleeding Disorders Treatment Market size was valued at USD 1.06 Billion in 2022 and is poised to grow from USD 1.15 Billion in 2023 to USD 2.12 Billion by 2031, at a CAGR of 7.96% during the forecast period (2024-2031).

Global Fiber Drum Market size was valued at USD 1.1 billion in 2022 and is poised to grow from USD 1.19 billion in 2023 to USD 2.33 billion by 2031, growing at a CAGR of 7.8% in the forecast period (2024-2031).

A new research study by Fact.MR places the global syndesmosis implant system market at a value of US$ 98.6 million in 2024. Sales of syndesmosis implant systems are evaluated to ascend to US$ 217.3 million by the end of 2034, expanding at a noteworthy 8.2% CAGR from 2024 to 2034.

Report Attribute	Detail
Syndesmosis Implant System Market Size (2024E)	US$ 98.6 Million
Forecasted Market Value (2034F)	US$ 217.3 Million
Global Market Growth Rate (2024 to 2034)	8.2% CAGR
North America Market Share (2024E)	43%
East Asia Market Value (2024E)	US$ 15 Million
Sales of Titanium-Based Plate Implants (2034F)	US$ 117 Million
Ankle Fractures Segment Value (2034F)	US$ 123 Million
Key Companies Profiled	Smith & Nephew; Acumed LLC; Mortis Medical; Exactech; Arthrex, Inc.; Wright Medical Group N.V.; Zimmer Biomet; Paragon 28, Inc.; Stryker Corporation; Inion OY.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 39.53 Million
Growth Rate (2024 to 2034)	8.2% CAGR
Projected Value (2034F)	US$ 87.16 Million

Attribute	Japan
Market Value (2024E)	US$ 5.63 Million
Growth Rate (2024 to 2034)	9% CAGR
Projected Value (2034F)	US$ 13.28 Million

Category-wise Insights

Attribute	Titanium-Based Plate Implants
Segment Value (2024E)	US$ 52.7 Million
Growth Rate (2024 to 2034)	8.3% CAGR
Projected Value (2034F)	US$ 117 Million

Attribute	Ambulatory Settings
Segment Value (2024E)	US$ 52.4 Million
Growth Rate (2024 to 2034)	8.9% CAGR
Projected Value (2034F)	US$ 122.8 Million

According to Cognitive Market Research, the global CVD and ALD Metal Precursor market size will be USD XX million in 2024. It will rise at the compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

North America held the major market share for more than 40% of global revenue with a market size of USD XX million in the year 2024 and will rise at the compound annual growth rate (CAGR) of 5.2% from the year 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in the year 2024 and will rise at the compound annual growth rate (CAGR) of 9.0% from the year 2024 to 2031.
Latin America had a market share of more than 5% of global revenue with a market size of USD XX million in the year 2024 and will rise at the compound annual growth rate (CAGR) of 6.4% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD XX million in 2024 and will rise at the compound annual growth rate (CAGR) of 6.7% from the year 2024 to 2031.
The automotive category is the fastest growing segment of the CVD and ALD Metal Precursor industry

Market Dynamics of CVD and ALD Metal Precursor Market

Key Drivers for CVD and ALD Metal Precursor Market

Increased demand for semiconductors drives the CVD & ALD metal precursors market

The primary driver is the growing demand for semiconductors, utilized across a broad spectrum of applications, from consumer electronics to autos and telecom. Consumer demand for smaller, more efficient, and powerful electronic devices has spurred sophisticated manufacturing methods, such as CVD and ALD, to deposit thin, high-performance films on wafers. For instance, the worldwide semiconductor market attained a market value of USD 527 billion in 2023, as indicated by the Semiconductor Industry Association (SIA). https://www.semiconductors.org/wp-content/uploads/2024/09/SIA_State-of-Industry-Report_2024_final_091124.pdf This demand has a direct impact on the growth of CVD & ALD metal precursors since they play an intrinsic role in semiconductor production. Another driver of market growth is the increasing use of ALD technology in applications like high-performance coatings for solar cells and LEDs. ALD's capacity for the atom-by-atom deposition of films provides control over thickness and is a critical aspect of producing advanced materials for energy storage devices, such as batteries. The transition to sustainable sources of energy and the growing demands for energy-efficient technologies also increase the requirements for ALD metal precursors. Governments across the globe are spending heavily on green energy technologies, with worldwide investment in renewable energy totaling USD 365 billion in 2023, according to the International Energy Agency (IEA). https://www.iea.org/reports/world-energy-investment-2023/overview-and-key-findings This increasing emphasis on clean energy is likely to continue driving demand for CVD & ALD processes in the years ahead.

Technological Advancements in Semiconductor Manufacturing to Boost Market Growth

Technological advancements in semiconductor manufacturing drive the market for Chemical Vapor Deposition (CVD) and Atomic Layer Deposition (ALD) metal precursors. As semiconductor devices become increasingly miniaturized and complex, there is a growing need for precise and reliable deposition techniques to ensure high-quality thin films and coatings. CVD and ALD processes are essential for depositing uniform and high-purity metal layers required in advanced semiconductor components, such as transistors, memory devices, and integrated circuits. Innovations in precursor chemistry and deposition technology are enhancing the performance and efficiency of these processes, contributing to the market's growth. The push towards smaller feature sizes and improved device performance drives demand for advanced precursors that can meet the stringent requirements of next-generation semiconductor devices. For instance, Entegris, a leading provider of products and materials for the semiconductor industry, acquired Hangzhou Anow Microfiltration Co., Ltd., a provider of filtration and separation solutions for the semiconductor industry. This acquisition is foreseen to strengt...

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