Middle East & Africa Carbon Steel Market Size & Outlook
Middle East & Africa carbon steel market, 2018-2030 (US$M)
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MEA carbon steel market highlights
- The MEA carbon steel market generated a revenue of USD 45,878.5 million in 2023.
- The market is expected to grow at a CAGR of 2.9% 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.
MEA data book summary
| Market revenue in 2023 | USD 45,878.5 million |
| Market revenue in 2030 | USD 55,933.4 million |
| Growth rate | 2.9% (CAGR from 2023 to 2030) |
| Largest segment | Low carbon steel |
| Fastest growing segment | Low Carbon Steel |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 4.7% of the global carbon steel market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 948,204.4 million by 2030.
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Carbon Steel Market Scope
Carbon Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 87.58% in 2023. Horizon Databook has segmented the Middle East & Africa 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.
Construction industry in the Middle East is expected to expand over the forecast period owing to the positive developments in regional economic conditions and subsequent improvement in investor confidence. Moreover, the government's various large-scale investments in transport and commercial infrastructure projects due to the upcoming 'World Expo 2020' event are expected to boost the demand for carbon steel over the forecast period.
Major countries in the region are expected to witness high economic growth over the coming years owing to the diversification program for other sectors by most of the governments in the MEA countries. Under this program, the government’s support for domestic manufacturing is likely to boost regional production levels and reduce the reliance on imports, which is expected to offer lucrative opportunities for the vendors in the market.
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Our clientele includes a mix of carbon steel market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa carbon steel market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa carbon steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Carbon Steel Market Outlook Share, 2023 & 2030 (US$M)
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