China Carbon Steel Market Size & Outlook, 2023-2030
China carbon steel market, 2018-2030 (US$M)
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China carbon steel market highlights
- The China carbon steel market generated a revenue of USD 468,919.1 million in 2023 and is expected to reach USD 684,015.3 million by 2030.
- The China market is expected to grow at a CAGR of 5.5% from 2024 to 2030.
- In terms of segment, low carbon steel was the largest revenue generating type in 2023.
- Low Carbon Steel is the most lucrative type segment registering the fastest growth during the forecast period.
Carbon steel market data book summary
| Market revenue in 2023 | USD 468,919.1 million |
| Market revenue in 2030 | USD 684,015.3 million |
| Growth rate | 5.5% (CAGR from 2023 to 2030) |
| Largest segment | Low carbon steel |
| Fastest growing segment | Low Carbon Steel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Low Carbon Steel, Medium Carbon Steel, High Carbon Steel |
| Key market players worldwide | Cleveland-Cliffs Inc, ArcelorMittal SA Depository Receipt, BAOSTEEL, HBIS, JFE Holdings Inc, Nippon Steel Corp, POSCO Holdings Inc ADR, United States Steel Corp |
Other key industry trends
- In terms of revenue, China accounted for 47.8% of the global carbon steel market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China carbon steel market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 81,101.5 million by 2030.
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Carbon Steel Market Scope
Carbon Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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China carbon 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 carbon steel market will help companies and investors design strategic landscapes.
Low carbon steel was the largest segment with a revenue share of 91.69% in 2023. Horizon Databook has segmented the China carbon steel market based on low carbon steel, medium carbon steel, high carbon steel covering the revenue growth of each sub-segment from 2018 to 2030.
China is heavily focused on the development of smart cities. According to this action plan, investment in smart cities is likely to exceed USD 70 billion from 2016 to 2020. In addition, China is hub for high-rise buildings in the global market.
China is the leading country with the highest number of buildings (about 1,987) of 150+ m height as of 2018 and many are under construction. These buildings require a massive amount of structural steel. Further expansion of high-rise buildings is projected to augment the demand for carbon steel in the country over the forecast period.
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Target buyers of China carbon steel market databook
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Our clientele includes a mix of carbon steel market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China carbon steel market , including forecasts for subscribers. This country databook contains high-level insights into China carbon steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China carbon steel market size, by type, 2018-2030 (US$M)
China Carbon Steel Market Outlook Share, 2023 & 2030 (US$M)
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