Europe Sustainable Steel Market - Analysis and Forecast, 2022-2031
Introduction to Europe Sustainable Steel Market
The Europe sustainable steel market (excluding U.K.) is projected to reach $165.9 billion by 2031 from $86.0 billion in 2022, growing at a CAGR of 7.57% during the forecast period 2022-2031. The growth of the sustainable steel industry in the European market is expected to be driven by strict government regulations, carbon neutrality goals, and the desire for energy and cost efficiency by using recycled steel. In addition, market expansion is anticipated due to the increased demand for steel as well as the scarcity of energy and raw materials. But obstacles including incomplete separation and complex product design, which can lead to impurities in recycled steel, and high infrastructure and green hydrogen costs might make it expensive to produce green steel, which could impede the market's growth.
Market IntroductionCarbon neutrality goals, strict government regulations, and the growing need for affordable and energy-efficient solutions are driving a substantial development in the European market for sustainable steel. The sector wants to overcome the lack of raw materials and energy resources, with a focus on employing recycled steel. Still, there are issues, such as contaminants in recycled steel and the high cost of producing green steel because of infrastructure costs and the high cost of green hydrogen. Despite these obstacles, the industry is expected to grow as the area embraces the advantages of recycled and green steel solutions and keeps up its commitment to sustainability.
Market Segmentation:Segmentation 1: by End-Use ApplicationTransportation
Building and Construction
Furniture and Appliances
Packaging
Others
Segmentation 2: by TechnologyElectric Arc Furnace (EAF)
Blast Furnace-Basic Oxygen Furnace (BF-BOF)
Others
Segmentation 3: by RegionEurope - Germany, France, Italy, Spain, and Rest-of-Europe
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of sustainable steel available and their potential in Europe region. Moreover, the study provides the reader with a detailed understanding of the different sustainable steel end-use applications in industries such as transportation, building and construction, furniture and appliances, packaging, and others.
Competitive Strategy: Key players in the Europe sustainable steel market analyzed and profiled in the study involve sustainable steel providers. Moreover, a detailed competitive benchmarking of the players operating in the sustainable steel market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition SynopsisThe companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:ArcelorMittal
LIBERTY Steel Group
Lech Stahlwerke GmbH
Celsa Group
H2 Green Steel
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