Green Steel Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	126 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19260791

Best Price Guarantee
Price	from $4,850
Length	126 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19260791

Green Steel Market

Growth Factors of Green Steel Market

The green steel market size was valued at USD 2.62 billion in 2023, and the market is now projected to grow from USD 3.75 billion in 2024 to USD 129.08 billion by 2032, exhibiting a CAGR of 55.6% during the forecast period of 2024-2032.

The COVID-19 pandemic significantly disrupted the metal and mining industries, leading to a decline in metal and metal product prices due to decreased demand from end-use sectors. Mine closures resulted in delays of both short-term and long-term contracts. However, post-pandemic, a sudden surge in demand for metals like copper and iron ore caused their prices to soar. The outbreak also highlighted the potential for ecosystem disturbances to trigger future pandemics.

As sustainability becomes increasingly crucial, many governments and leading steel manufacturers are investing significant funds to produce greener steel. The Paris Climate Agreement stresses the importance of limiting global warming to 1.5°C, as exceeding this threshold could lead to severe climate challenges, including droughts, heatwaves, and intense rainfall. This focus on sustainable practices aims to reduce the environmental impact of steel production and promote a transition to more eco-friendly technologies. By prioritizing green steel initiatives, the industry seeks to align with global climate goals and contribute to a more sustainable future.

The steel industry has long been a focal point in discussions about decarbonization. In response, Electric Arc Furnace (EAF) technology has emerged as a commercial solution, significantly reducing carbon emissions compared to traditional methods. While the Blast Furnace - Blast Oxygen Furnace (BF-BOF) method emits approximately 1.8 tons of CO2 per ton of steel produced, the EAF method reduces this to only 0.6 tons of CO2 per ton. This shift towards EAF technology marks a substantial step in the industry's efforts to minimize its environmental impact and align with global sustainability goals.

Comprehensive Analysis of Green Steel Market

The green steel market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by production technology analysis, and by application analysis. By production technology analysis include Renewable – Electric Arc Furnace (R-EAF), Hydrogen Direct Reduced Iron – Electric Arc Furnace (H2 DRI – EAF), and Moten Oxide Electrolysis (MOE). By application analysis include building & construction, automotive, renewable energy infrastructure, home appliances, and others.

The North America region lead the green steel market share by benefitting a market size of USD 1.52 billion in 2023 due to increasing investments in sustainable manufacturing processes.

The top players have a significant responsibility in the chemicals & advanced materials industry for confirming industrial prospectus growth and determining the market trends. These players include Swiss Steel Group, ArcelorMittal, Outokumpu Oyj, China Baowu Group, Salzgitter AG, H2 Green Steel, Nippon Steel Corporation, Nucor Corporation, SSAB, Emirates Steel Arkan Group these market players provide a level-playing competitive landscape.

In February 2024, Salzgitter Flachstahl GmbH, a subsidiary of Salzgitter AG, signed a long-term Power Purchase Agreement with Octopus Energy’s generation arm to facilitate the future production of green steel.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2022-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period Not Available

Unit Value (USD Billion) and Volume (Million Ton)

Growth Rate CAGR of 55.6% from 2024-2032

Segmentation By Production Technology

Renewable – Electric Arc Furnace (R-EAF)

Hydrogen Direct Reduced Iron – Electric Arc Furnace (H2 DRI – EAF)

Molten Oxide Electrolysis (MOE)

By Application

Building & Construction

Automotive

Renewable Energy Infrastructure

Home Appliances

Others

By Geography

North America (By Application)

Europe (By Application)

Asia Pacific (By Application)

Rest of the World (By Application)

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Emerging Trends – For Major Regions; 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.; 4.3. Latest Technological Advancements; 4.4. Insights on Regulatory Scenario; 4.5. Porters Five Forces Analysis
5. Qualitative Insights on Impact of COVID-19 on Global Steel Market Market: 5.1. Supply Chain Analysis & Challenges due to Covid-19; 5.2. Steps taken by Government / Companies to Overcome this Impact; 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
6. Global Green Steel Market Market Analysis, Insights and Forecast, 2022-2032: 6.1. Key Findings / Summary; 6.2. By Production Technology (Value and Volume); 6.2.1. Renewable – Electric Arc Furnace (R-EAF); 6.2.2. Hydrogen Direct Reduced Iron – Electric Arc Furnace (H2 DRI – EAF); 6.2.3. Molten Oxide Electrolysis (MOE); 6.3. By Application (Value and Volume); 6.3.1. Building & Construction; 6.3.2. Automotive; 6.3.3. Renewable Energy Infrastructure; 6.3.4. Home Appliances; 6.3.5. Others; 6.4. By Region (Value and Volume); 6.4.1. North America; 6.4.2. Europe; 6.4.3. Asia Pacific; 6.4.4. Rest of the World
7. North America Green Steel Market Market Analysis, Insights and Forecast, 2022-2032: 7.1. Key Findings / Summary; 7.2. By Application (Value and Volume); 7.2.1. Building & Construction; 7.2.2. Automotive; 7.2.3. Renewable Energy Infrastructure; 7.2.4. Home Appliances; 7.2.5. Others
8. Europe Green Steel Market Market Analysis, Insights and Forecast, 2022-2032: 8.1. Key Findings / Summary; 8.2. By Application (Value and Volume); 8.2.1. Building & Construction; 8.2.2. Automotive; 8.2.3. Renewable Energy Infrastructure; 8.2.4. Home Appliances; 8.2.5. Others
9. Asia-Pacific Green Steel Market Market Analysis, Insights and Forecast, 2022-2032: 9.1. Key Findings / Summary; 9.2. By Application (Value and Volume); 9.2.1. Building & Construction; 9.2.2. Automotive; 9.2.3. Renewable Energy Infrastructure; 9.2.4. Home Appliances; 9.2.5. Others
10. Rest of the World Green Steel Market Market Analysis, Insights and Forecast, 2022-2032: 10.1. Key Findings / Summary; 10.2. By Application (Value and Volume); 10.2.1. Building & Construction; 10.2.2. Automotive; 10.2.3. Renewable Energy Infrastructure; 10.2.4. Home Appliances; 10.2.5. Others
11. Company Profiles: 11.1. Nucor Corporation; 11.1.1. Overview; 11.1.2. Description; 11.1.3. Production Technology Portfolio; 11.1.4. Financials (Data as available in public domain and/or on paid databases); 11.1.5. Recent Developments; 11.2. Swiss Steel Group; 11.2.1. Overview; 11.2.2. Description; 11.2.3. Production Technology Portfolio; 11.2.4. Financials (Data as available in public domain and/or on paid databases); 11.2.5. Recent Developments; 11.3. Outokumpu; 11.3.1. Overview; 11.3.2. Description; 11.3.3. Production Technology Portfolio; 11.3.4. Financials (Data as available in public domain and/or on paid databases); 11.3.5. Recent Developments; 11.4. China Baowu Steel Group; 11.4.1. Overview; 11.4.2. Description; 11.4.3. Production Technology Portfolio; 11.4.4. Financials (Data as available in public domain and/or on paid databases); 11.4.5. Recent Developments; 11.5. Salzgitter AG; 11.5.1. Overview; 11.5.2. Description; 11.5.3. Production Technology Portfolio; 11.5.4. Financials (Data as available in public domain and/or on paid databases); 11.5.5. Recent Developments; 11.6. ArcelorMittal S.A.; 11.6.1. Overview; 11.6.2. Description; 11.6.3. Production Technology Portfolio; 11.6.4. Financials (Data as available in public domain and/or on paid databases); 11.6.5. Recent Developments; 11.7. SSAB; 11.7.1. Overview; 11.7.2. Description; 11.7.3. Production Technology Portfolio; 11.7.4. Financials (Data as available in public domain and/or on paid databases); 11.7.5. Recent Developments; 11.8. Emirates Steel Arkan; 11.8.1. Overview; 11.8.2. Description; 11.8.3. Production Technology Portfolio; 11.8.4. Financials (Data as available in public domain and/or on paid databases); 11.8.5. Recent Developments; 11.9. Posco Holdings Inc.; 11.9.1. Overview; 11.9.2. Description; 11.9.3. Production Technology Portfolio; 11.9.4. Financials (Data as available in public domain and/or on paid databases); 11.9.5. Recent Developments; 11.10. ThyssenKrupp AG; 11.10.1. Overview; 11.10.2. Description; 11.10.3. Production Technology Portfolio; 11.10.4. Financials (Data as available in public domain and/or on paid databases); 11.10.5. Recent Developments
12. Strategic Recommendations