Global Alloy Steel Market Size & Outlook, 2025-2030

The global alloy steel market size was estimated at USD 82,566.8 million in 2024 and is projected to reach USD 119,418.4 million by 2030, growing at a CAGR of 7.2% from 2025 to 2030.
Revenue, 2024 (US$M)
$82,566.8
Forecast, 2030 (US$M)
$119,418.4
CAGR, 2025 - 2030
7.2%
Report Coverage
Worldwide

Global alloy steel market highlights

  • The global alloy steel market generated a revenue of USD 82,566.8 million in 2024 and is expected to reach USD 119,418.4 million by 2030.
  • The market is expected to grow at a CAGR (2025 - 2030) of 7.2% by 2030.
  • In terms of segment, low alloy accounted for a revenue of USD 53,310.5 million in 2024.
  • High Alloy is the most lucrative type segment registering the fastest growth during the forecast period.
  • In terms of region, Asia Pacific was the largest revenue generating market in 2024.
  • Country-wise, China is expected to register the highest CAGR from 2025 to 2030.

Global data book summary

Market revenue in 2024USD 82,566.8 million
Market revenue in 2030USD 119,418.4 million
Growth rate7.2% (CAGR from 2025 to 2030)
Largest segmentLow alloy
Fastest growing segmentHigh Alloy
Historical data covered2018 - 2023
Base year for estimation2024
Forecast period covered2025 - 2030
Quantitative unitsRevenue in USD million
Market segmentationLow Alloy, High Alloy

Other key industry trends

  • In terms of revenue, the North America accounted for 5.9% of the global alloy steel market in 2024.
  • By country, the China is projected to lead the global market in terms of revenue in 2030.
  • By country, China is the fastest growing regional market and is projected to reach USD 59,144.1 million by 2030.

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Alloy Steel Market Companies

Name Profile # Employees HQ Website
JFE Steel View profile 10001+ Tokyo, Tokyo, Japan, Asia https://www.jfe-steel.co.jp/en
Hbis Group View profile 11-50 Shijiazhuang, Hebei, China, Asia https://www.hbisco.com
POSCO E&C View profile 5001-10000 Pohang, Kyongsang-bukto, South Korea, Asia http://www.poscoenc.com
ArcelorMittal View profile 10001+ Luxembourg, Luxembourg, Luxembourg, Europe https://corporate.arcelormittal.com/
Hyundai Steel View profile 10001+ Seoul, Seoul-t'ukpyolsi, South Korea, Asia https://www.hyundai-steel.com
Steel Authority Of India Ltd DR View profile 59186 Lodi Road, Ispat Bhawan, New Delhi, India, 110003 https://www.sail.co.in
Kobe Steel Ltd View profile 44938 2-4, Wakinohama-Kaigandori 2-chome, Chuo-ku, Kobe, Hyogo, Japan, 651-8585 http://www.kobelco.co.jp
Aperam View profile 5001-10000 Luxembourg, Luxembourg, Luxembourg, Europe http://www.aperam.com
BAOSTEEL View profile 10001+ Shanghai, Shanghai, China, Asia http://www.baosteel.com/group_en/
Carpenter Technology Corp View profile 4500 1735 Market Street, 15th Floor, Philadelphia, PA, United States, 19103 https://www.carpentertechnology.com
Outokumpu Oyj Class A View profile 8776 Salmisaarenranta 11, Helsinki, Finland, FI-00180 https://www.outokumpu.com
Thyssenkrupp AG View profile 100202 ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 https://www.thyssenkrupp.com
Nippon Steel Corp View profile 121990 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8071 https://www.nipponsteel.com
Tata Steel Ltd GDR - 144A View profile 73496 24 Homi Mody Street, Bombay House, Fort, Mumbai, MH, India, 400 001 https://www.tatasteel.com

Global alloy steel market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to alloy steel market will help companies and investors design strategic landscapes.


Low alloy was the largest segment with a revenue share of 64.57% in 2024. Horizon Databook has segmented the Global alloy steel market based on low alloy, high alloy covering the revenue growth of each sub-segment from 2018 to 2030.


  • Global Alloy Steel Type Outlook (Revenue, USD Million, 2018-2030)
    • Low Alloy
    • High Alloy
  • Global Alloy Steel Product Outlook (Revenue, USD Million, 2018-2030)
    • Flats
    • Longs
  • Global Alloy Steel End Use Outlook (Revenue, USD Million, 2018-2030)
    • Energy & Power
    • Building & Construction
    • Automotive
    • Others
    • Oil & Gas

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Horizon Databook provides a detailed overview of global-level data and insights on the Global alloy steel market , including forecasts for subscribers. This global databook contains high-level insights into Global alloy steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Global alloy steel market size, by regions, 2018-2030 (US$M)

Top 10 countries: Alloy steel market size, 2024 (US$M)

Global alloy steel market share, by type, 2024 & 2030 (%, US$M)

Alloy steel market: Opportunity assessment by country

Global alloy steel market, by region, 2024 (US$M)

Global alloy steel market size, by regions, 2018-2030 (US$M)

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