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

Steel rose to 3,136 CNY/T on July 18, 2025, up 0.84% from the previous day. Over the past month, Steel's price has risen 6.13%, but it is still 3.33% 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

Coated Steel Market is expected to grow at a high CAGR during the forecast period 2023-2030 | DataM Intelligence

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

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).

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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.

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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

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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.

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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.

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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

Metal Caps and Closures Market is expected to grow at a CAGR of 4.0% during the forecast period 2024-2031

Metal Casting Market is expected to grow at a significant CAGR during the forecast period 2024-2031

Automotive Metal Forming Market is expected to grow at a CAGR of 7.48% 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

Metal Biocide Market is expected to grow at a high CAGR during the forecast period 2023-2030 | DataM Intelligence

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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.

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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

Capitalize on the surging metal replacement market! Our report forecasts 6.1% CAGR growth by 2030, driven by Asia Pacific's construction boom & lightweighting in autos & aerospace. Download insights & key players now!

Metal Finishing Chemicals Market is expected to grow at a CAGR of 4.2% during the forecast period 2024-2031

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Industrial Robots Market size was valued at USD 26.66 billion in 2023 and is poised to grow from USD 29.65 billion in 2024 to USD 62.42 billion by 2031, growing at a CAGR of 11.22% during the forecast period (2024-2031).

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