According to Azoth Analytics research report, the Green Steel Market is projected to display significant growth represented by a CAGR of 85.8% during 2021–2031. The Global Steel Market was valued at USD 39.14 Billion in the year 2021 with the European region leading the regional market share.
The green steel market demand has surged in the past year as numerous steelmakers across both Europe and the USA have launched new branded products that offer customers a carbon-efficient option while utilising existing capacities.
Steel buyers in the construction, automotive, and metal products sectors, both public and private, are signalling a commitment to buy green steel. This includes the First Movers Coalition and CEM Industrial Deep Decarbonization initiatives.
The European region is the largest market and is growing at the fastest rate during the forecast period owing to the rising prevalence of electric furnaces as well as the wide-spread construction sector in developed countries like the United Kingdom and Germany.
North America is also a lucrative market for green steel in the region. The United Kingdom green steel market has witnessed growth in recent years due to increased investments and offtake agreements among new companies to cope with new market strategies. Germany is a lucrative market for green hydrogen due to excessive CO2 emissions and the enormous use of a blast oxygen furnace in the market.
Scope of the Report
• The report presents the analysis of the Green Steel Market for the forecast period of 2021-2031.
• The report analyses the Green Steel Market by Value (USD Million).
• The report analyses the Green Steel by Production technique (By Flat Green Steel, By Long Green Steel)
• The report analyses the Green Steel Market), By Moulding Technology (By Blastic Furnace, By Electric Furnace).
• The report analyses the Green Steel Market by End Use (Automotive, Residential Appliances, Industrial Equipment, Construction and Others).
• The Global Green Steel Market has been analysed By Region (Americas, Europe, Asia Pacific, and MEA).
• The key insights of the report have been presented through the leading company shares. Also, the attractiveness of the market has been presented by region, production technique, moulding technology, by end-use.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies, and recent developments. The companies analysed in the report include SSAB, ArcelorMittal, Salzgitter AG, JSW Steel, H2GreenSteel, Liberty Steel Group, Hesteel Group, Nucor, Deutsche Edelstahlwerke & Voestalpine.
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