Global Flat Carbon Steel Market to Reach $1.1 Trillion by 2030
The global market for Flat Carbon Steel estimated at US$896.2 Billion in the year 2023, is expected to reach US$1.1 Trillion by 2030, growing at a CAGR of 3.2% over the analysis period 2023-2030. Hot-Rolled Coils, one of the segments analyzed in the report, is expected to record a 2.9% CAGR and reach US$385.1 Billion by the end of the analysis period. Growth in the Flat Carbon Steel Plates segment is estimated at 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $242.8 Billion, While China is Forecast to Grow at 5.4% CAGR
The Flat Carbon Steel market in the U.S. is estimated at US$242.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$221.5 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$146 Billion by the year 2030.
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