U.S. Carbon Steel Market Size & Outlook, 2023-2030
U.S. carbon steel market, 2018-2030 (US$M)
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U.S. carbon steel market highlights
- The U.S. carbon steel market generated a revenue of USD 71,237.2 million in 2023 and is expected to reach USD 89,518.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.3% 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 71,237.2 million |
| Market revenue in 2030 | USD 89,518.4 million |
| Growth rate | 3.3% (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, U.S. accounted for 7.3% 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 North America, U.S. carbon steel market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 25,058.2 million by 2030.
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Carbon Steel Market Scope
Carbon Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 86.37% in 2023. Horizon Databook has segmented the U.S. 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.
Shipbuilding sector in the U.S. comprises activities such as ship construction, repair & maintenance, alteration, and conversion. As of 2018, there were over 120 shipyards in the U.S. spread across various states. The key states in the sector include Virginia, Mississippi, Louisiana, Connecticut, and California.
Carbon steel is one of the popular materials used in shipbuilding sector, accounting for nearly 90% of the total volume of materials used. The U.S. government’s plan to expand the navy fleet is projected to be a key driver for the market. As of December 2019, the navy fleet of the country was numbered at 290 battle force ships such as submarines, aircraft carriers, combat logistics ships, amphibious ships, and surface combatants.
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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 country-level data and insights on the U.S. carbon steel market , including forecasts for subscribers. This country databook contains high-level insights into U.S. carbon steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. carbon steel market size, by type, 2018-2030 (US$M)
U.S. Carbon Steel Market Outlook Share, 2023 & 2030 (US$M)
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