Global Alloy Steel Market Growth 2025-2031

Global Alloy Steel Market Growth 2025-2031

The global Alloy Steel market size is predicted to grow from US$ 140 million in 2025 to US$ 154 million in 2031; it is expected to grow at a CAGR of 1.6% from 2025 to 2031.

Alloy steels are made by combining carbon steel with one or several alloying elements, such as manganese, silicon, nickel, titanium, copper, chromium and aluminum. These metals are added to produce specific properties that are not found in regular carbon steel. The elements are added in varying proportions (or combinations) making the material take on different aspects such as increased hardness, increased corrosion resistance, increased strength, improved formability (ductility); the weld ability can also change.

Global Alloy Steel key players include ArcelorMittal, Tsingshan, Baowu Group, Shanxi TISCO, NSSMC, etc. Global top five manufacturers hold a share over 20%.

China is the largest market, with a share over 50%, followed by Europe, and North America, both have a share about 15 percent.

In terms of product, Flat Products is the largest segment, with a share over 65%. And in terms of application, the largest application is Automotive, followed by Machinery, Oil and Gas, etc.

LP Information, Inc. (LPI) ' newest research report, the “Alloy Steel Industry Forecast” looks at past sales and reviews total world Alloy Steel sales in 2024, providing a comprehensive analysis by region and market sector of projected Alloy Steel sales for 2025 through 2031. With Alloy Steel sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Alloy Steel industry.

This Insight Report provides a comprehensive analysis of the global Alloy Steel landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Alloy Steel portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Alloy Steel market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Alloy Steel and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Alloy Steel.

This report presents a comprehensive overview, market shares, and growth opportunities of Alloy Steel market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Flat Products
Long/Tubular Products

Segmentation by Application:
Automotive
Machinery
Oil and Gas
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
ArcelorMittal
Tsingshan
Baowu Group
Shanxi TISCO
NSSMC
POSCO
Acerinox
Outokumpu
JFE Steel
Hesteel Group
Nucor Corporation
Hyundai Steel
Tata Steel
Ansteel Group
Shagang Group
ThyssenKrupp
JSW Steel Ltd
USSteel
Valin Steel Group
Maanshan Steel
NLMK Group
Evraz
Gerdau
Shougang
SAIL
Benxi Steel Group
Shandong Steel

Key Questions Addressed in this Report

What is the 10-year outlook for the global Alloy Steel market?

What factors are driving Alloy Steel market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Alloy Steel market opportunities vary by end market size?

How does Alloy Steel break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.