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Green Steel Market

Green Steel Market By Process Type (Electric Arc Furnace [EAF], Basic Oxygen Furnace [BOF], Direct Reduced Iron [DRI]); By End-Use Industry (Construction, Automotive, Machinery, Others [Shipbuilding, Appliances, etc.]) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Green Steel Market Size 2023	USD 2.65 billion
Green Steel Market, CAGR	54.12%
Green Steel Market Size 2032	USD 130.02 billion

Market Overview:

The Green Steel Market is poised for extraordinary growth, projected to increase from USD 2.65 billion in 2023 to a staggering USD 130.02 billion by 2032, reflecting a remarkable compound annual growth rate (CAGR) of 54.12%during this period. This surge in market size is primarily driven by the increasing demand for sustainable and low-carbon alternatives to traditional steel production, aligning with global efforts to reduce greenhouse gas emissions and combat climate change. Green steel, produced through methods such as hydrogen-based direct reduction and electric arc furnaces using renewable energy, is becoming increasingly vital for various industries, including construction, automotive, and manufacturing.

Key market drivers include stringent government regulations aimed at reducing carbon emissions, which are prompting steel manufacturers to adopt more sustainable practices. Additionally, the growing awareness among consumers and industries regarding environmental sustainability is creating a strong demand for green steel products. Major companies are investing heavily in innovative technologies to enhance production efficiency and reduce environmental impacts, further fueling market growth.

Regionally, Europe dominates the green steel market, accounting for the largest share due to stringent EU regulations and ambitious climate targets. Countries such as Sweden and Germany are at the forefront of green steel initiatives, with significant investments in hydrogen-based steel production. North America is also witnessing rapid growth, driven by supportive government policies and increased investments in sustainable manufacturing technologies. The Asia-Pacific region is emerging as a critical market as well, with countries like China and Japan focusing on green technologies to meet their industrial demands while addressing climate concerns. Overall, the green steel market is set to transform the traditional steel industry by prioritizing sustainability and innovation.

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Market Drivers:

Growing Demand for Sustainable Practices:

The green steel market is significantly driven by the increasing global demand for sustainable manufacturing practices. As industries face mounting pressure to reduce carbon emissions, companies are adopting eco-friendly production methods. For instance, in 2022, Nucor Corporation launched its “Econiq” line of net-zero steel products, specifically targeting clients like General Motors, which underscores the automotive industry’s shift towards sustainable materials. Government surveys indicate that over 70% of manufacturers are prioritizing sustainability in their operations, reflecting a broader industry trend towards greener practices.

Regulatory Support and Investment:

Government regulations play a crucial role in propelling the green steel market forward. Initiatives such as the European Union’s Green Deal aim to decarbonize the steel industry, which is responsible for approximately 7% of global CO2 emissions. Countries like Germany and Sweden are leading investments in carbon-free steel production technologies. In 2023, it was reported that European steelmakers are increasingly focused on decarbonization strategies, with investments projected to exceed €30 billion by 2030. This regulatory push not only facilitates market growth but also encourages innovation within the sector.

Technological Advancements:

Technological advancements in steel production are pivotal for the growth of the green steel market. Innovations such as Electric Arc Furnaces (EAF) and hydrogen-based steelmaking are gaining traction as viable alternatives to traditional methods. For instance, Thyssenkrupp AG has invested heavily in EAF technology, aiming to produce steel with significantly lower carbon footprints. Surveys indicate that 65% of industry leaders believe technological innovation will be a key driver in achieving their sustainability goals, further emphasizing the importance of R&D in this transition.

Rising Consumer Awareness:

Consumer awareness regarding environmental issues is increasingly influencing market dynamics. The demand for low-carbon steel is surging as consumers prefer sustainable products across various sectors, including automotive and construction. A recent survey revealed that 80% of consumers are willing to pay a premium for products made from green materials. This shift is prompting companies to align their offerings with consumer preferences for sustainability, thereby driving the adoption of green steel across multiple industries.

Market Trends:

Increased Adoption of Hydrogen-Based Technologies:

One of the most notable trends in the green steel market is the increased adoption of hydrogen-based production technologies. Companies are exploring methods to replace traditional carbon-intensive processes with hydrogen, which can significantly reduce greenhouse gas emissions. For instance, SSAB announced its collaboration with LKAB and Vattenfall to develop a fossil-free steel production process using hydrogen. This initiative aims to produce the world’s first fossil-free steel by 2026, highlighting the industry’s commitment to innovative solutions for sustainability.

Strategic Partnerships and Collaborations:

Strategic partnerships are becoming increasingly common as companies seek to enhance their green steel capabilities. Collaborative efforts between steel manufacturers, technology providers, and research institutions are essential for advancing production techniques. A notable example is the partnership between ArcelorMittal and the European Investment Bank, which aims to fund projects focused on low-carbon steel production. According to a survey conducted by the World Steel Association, 62% of industry leaders believe that partnerships will be crucial in achieving sustainability targets, emphasizing a collective approach to innovation.

Focus on Circular Economy Initiatives:

The green steel market is also witnessing a growing emphasis on circular economy initiatives. Companies are increasingly recognizing the importance of recycling and reusing materials to minimize waste and reduce environmental impact. For instance, Tata Steel has implemented a circular economy model where scrap steel is recycled into new products, thereby reducing reliance on virgin materials. Government surveys indicate that 75% of consumers prefer products made from recycled materials, further driving the demand for green steel that adheres to circular economy principles.

Enhanced Consumer Awareness and Demand:

Consumer awareness regarding sustainable materials is rising, influencing purchasing decisions across various sectors. A survey by Kloeckner & Co revealed that 67% of European consumers expect commercial advantages from using green steel products. This shift in consumer behaviour is prompting manufacturers to prioritize sustainable sourcing in their operations. For instance, Companies like BMW have committed to integrating green steel into their supply chains, with plans to use it in their vehicles by 2025, reflecting a broader trend towards sustainable practices driven by consumer expectations.

Market Challenges Analysis:

High Upfront Capital Costs:

One of the primary challenges facing the green steel market is the high upfront capital costs associated with transitioning to sustainable production methods. Implementing technologies such as electric arc furnaces powered by renewable energy or hydrogen-based direct reduction processes requires significant investment. For example, companies like H2 Green Steel have announced plans to invest over €1 billion to establish facilities capable of producing green steel. Such substantial financial commitments can deter smaller steel producers from adopting these technologies, thereby slowing the overall market growth.

Regulatory and Policy Uncertainty:

Regulatory and policy uncertainty also poses a significant restraint on the green steel market. While government authorities, such as the European Commission, have set ambitious targets for reducing carbon emissions, fluctuating policies can create an unpredictable environment for investments. A survey conducted by the World Steel Association revealed that 58% of industry leaders view inconsistent regulatory frameworks as a major barrier to adopting green technologies. This uncertainty can hinder long-term planning and investment in green steel initiatives, limiting the sector’s growth potential.

Limited Availability of Green Hydrogen:

The availability of green hydrogen, a crucial component in many green steel production processes, remains a challenge. As countries strive to scale up hydrogen production, competition for resources can lead to supply constraints. Government initiatives are underway to increase hydrogen production capacity; however, current infrastructure is insufficient to meet the projected demand. According to a report from the International Energy Agency (IEA), achieving global hydrogen production targets will require an investment of approximately $70 billion by 2030. This limited availability may hinder steel manufacturers’ ability to transition effectively to green processes.

Market Demand Uncertainties:

Finally, uncertainties surrounding market demand for green steel present another challenge. While there is growing interest in sustainable materials, actual demand from end-users remains inconsistent. Industries such as automotive and construction are increasingly seeking greener alternatives; however, their commitment levels vary widely. A government survey indicated that only 45% of companies in these sectors have concrete plans to incorporate green steel into their supply chains within the next five years. This hesitance can create volatility in demand, impacting manufacturers’ willingness to invest in green steel production capabilities.

Market Segmentation Analysis:

By Type

The green steel market is primarily segmented by type into flat steel and long steel products. Flat steel products, which include hot rolled coils, cold rolled coils, and coated steel, dominate the market due to their extensive applications in the automotive and construction sectors. In 2023, flat steel accounted for approximately 60% of the total market share, driven by its lightweight properties and strength-to-weight ratio, which enhance fuel efficiency in vehicles. Long steel products are also significant but represent a smaller portion of the market as they are primarily used in construction and infrastructure projects.

By Technology

The market is further segmented by technology, with Electric Arc Furnaces (EAF) being the leading method, expected to capture over 57% of the market share in 2024. EAF technology allows for substantial reductions in carbon emissions by utilizing up to 100% scrap steel as raw material. Additionally, Molten Oxide Electrolysis (MOE) is gaining traction as a cutting-edge technology that promises near-zero emissions. The adoption of these technologies is crucial for meeting increasing regulatory pressures and corporate sustainability goals.

By End User

In terms of end users, the automotive sector holds the largest share, accounting for over 23% of the market in 2024. This segment’s growth is propelled by manufacturers’ commitments to sustainable practices and the rising demand for electric vehicles (EVs). Conversely, the building and construction segment is projected to grow at the highest CAGR during the forecast period, fueled by rapid urbanization and government initiatives promoting green buildings. Other notable end users include electronics and energy sectors, which increasingly prioritize low-carbon materials.

Segmentations:

By Process Type:

Electric Arc Furnace (EAF)
Basic Oxygen Furnace (BOF)
Direct Reduced Iron (DRI)

By End-Use Industry:

Construction
Automotive
Machinery
Others (Shipbuilding, Appliances, etc.)

By Region:

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa

Regional Analysis:

Europe is currently the dominant region in the green steel market, holding approximately 40% of the global market share. The region’s leadership is primarily due to stringent environmental regulations and ambitious climate targets set by the European Union. Countries such as Sweden and Germany are pioneers in green steel initiatives, with major companies like SSAB and Thyssenkrupp investing heavily in hydrogen-based steel production technologies. For instance, the Hybrit project in Sweden aims to eliminate carbon emissions from steel production by using fossil-free hydrogen, positioning Europe as a hub for green steel innovation.

North America accounts for around 25% of the market share, driven by growing awareness and regulatory support for sustainable manufacturing. The United States is witnessing a surge in investments aimed at decarbonizing the steel industry, supported by policies such as the Biden Administration’s Infrastructure Investment and Jobs Act, which emphasizes sustainable practices. Companies like Nucor are leading the charge by increasing their use of electric arc furnaces powered by renewable energy, thereby promoting green steel production.

Asia-Pacific holds a significant share, approximately 30%, and is rapidly evolving in the green steel sector. Countries like China and Japan are beginning to adopt more sustainable steel production methods in response to international pressure and domestic pollution challenges. China’s commitment to achieving peak carbon emissions by 2030 has led to initiatives aimed at improving the sustainability of its steel industry. Major players such as Baowu Steel Group are investing in green technologies to enhance their environmental performance and compliance.

The Middle East and Africa represent a smaller share of about 5% of the green steel market. However, there is growing interest in sustainable practices, particularly as the region diversifies its economies away from oil dependency. Countries like the United Arab Emirates are investing in green technologies, positioning themselves to enhance their manufacturing capabilities sustainably. The future growth potential in this region is promising, driven by increasing infrastructure projects and a commitment to environmental sustainability.

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Key Player Analysis:

SSAB
H2 Green Steel
Nucor Corporation
ArcelorMittal
Thyssenkrupp AG
Cleveland-Cliffs Inc.
POSCO
Tata Steel
China Baowu Steel Group
Salzgitter AG

Competitive Analysis:

The Green Steel Market is characterized by intense competition among key players striving to innovate and capture market share. Leading companies such as SSAB, Nucor Corporation, and ArcelorMittal are at the forefront of developing sustainable production methods, investing heavily in technologies like hydrogen-based steelmaking and electric arc furnaces. For instance, SSAB’s Hybrit initiative aims to produce fossil-free steel, significantly reducing carbon emissions. Additionally, new entrants and established firms are forming strategic partnerships to accelerate innovation and meet increasing demand for green products. The competition is further intensified by government regulations promoting low-carbon solutions, compelling traditional steel producers to adopt sustainable practices rapidly. As consumer awareness grows, companies are enhancing their sustainability profiles, which is essential for maintaining competitiveness in this rapidly evolving market. The future landscape will likely be shaped by ongoing technological advancements and collaborative efforts across the industry.

Recent Developments:

In 2022, Nucor launched its “Econiq” product line, which focuses on net-zero steel production. This initiative aims to meet the growing demand for sustainable materials, particularly in the automotive sector, where lightweight and durable components are essential for electric vehicles (EVs). The company continues to enhance its electric arc furnace technology to further reduce carbon emissions in its operations.
In 2023, H2 Green Steel announced plans to construct a new facility in Sweden that will utilize hydrogen as a primary energy source for steel production. This facility is expected to produce up to 5 million tons of fossil-free steel annually by 2030. The project underscores the company’s commitment to revolutionizing the steel industry and significantly reducing greenhouse gas emissions.
In early 2024, Thyssenkrupp unveiled its strategy to invest over €1 billion in green steel production technologies. The company aims to transition its existing facilities to utilize hydrogen-based processes, thereby reducing CO2 emissions by up to 90% compared to traditional methods. This initiative aligns with the European Union’s goals for carbon neutrality and positions Thyssenkrupp as a leader in sustainable steel manufacturing.
In 2023, POSCO announced a partnership with various stakeholders to develop a new green steel plant in South Korea that will leverage renewable energy sources. This facility aims to produce 1 million tons of green steel annually by 2025, utilizing advanced electric arc furnace technology. The initiative reflects POSCO’s commitment to reducing its carbon footprint and supporting the global transition towards sustainable materials.

Market Concentration & Characteristics:

The Green Steel Market exhibits moderate to high concentration, with several key players dominating the landscape. Major companies such as ArcelorMittal, Nucor Corporation, and SSAB are at the forefront of sustainable steel production, leveraging advanced technologies to reduce carbon emissions. The market is characterized by significant investments in innovation, particularly in hydrogen-based steelmaking and electric arc furnaces. For instance, ArcelorMittal’s initiatives like the XCarb™ program showcase its commitment to decarbonization by integrating various green technologies into their production processes. Additionally, competitive dynamics are influenced by stringent regulatory frameworks and growing consumer demand for sustainable products, prompting both established players and new entrants to enhance their sustainability profiles. The collaboration among companies and partnerships with technology innovators further exemplify the market’s shift towards a more sustainable future

Report Coverage:

The research report offers an in-depth analysis based on Process Type, End-Use Industry, and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook:

The demand for green steel is expected to increase as industries adopt more stringent sustainability targets and regulations.
Investment in hydrogen-based steel production methods will grow, driven by advancements in technology and efficiency.
Major steel producers will continue to form strategic partnerships to enhance their green steel capabilities and share resources for innovation.
The automotive and construction sectors will increasingly prioritize green steel in their supply chains to meet environmental standards.
Government incentives and funding for sustainable initiatives are anticipated to expand, providing support for the development of green steel technologies.
Consumer awareness of sustainability will drive demand for products made with green steel, influencing manufacturers to adopt more eco-friendly practices.
Research and development efforts will intensify, focusing on optimizing production processes to minimize emissions.
The circular economy will gain traction, encouraging steel manufacturers to invest in recycling and reusing materials.
Emerging markets in Asia-Pacific are expected to adopt green steel technologies more rapidly, influenced by global sustainability trends.
Overall, the green steel market is set to evolve significantly, driven by a collective commitment to achieving net-zero emissions and promoting environmentally friendly practices.

CHAPTER NO. 1 : INTRODUCTION 25

1.1.1. Report Description 25

Purpose of the Report 25

USP & Key Offerings 25

1.1.2. Key Benefits for Stakeholders 25

1.1.3. Target Audience 26

1.1.4. Report Scope 26

1.1.5. Regional Scope 27

CHAPTER NO. 2 : EXECUTIVE SUMMARY 28

2.1. Green Steel Market Snapshot 28

2.1.1. Global Green Steel Market, 2018 – 2032 (USD Million) 29

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 30

3.1. Russia-Ukraine and Israel-Palestine War Impacts 30

CHAPTER NO. 4 : GREEN STEEL MARKET – INDUSTRY ANALYSIS 31

4.1. Introduction 31

4.2. Market Drivers 32

4.2.1. Increasing government policies promoting decarbonization in the steel industry 32

4.2.2. Growing demand for sustainable construction materials 33

4.3. Market Restraints 34

4.3.1. High production costs compared to traditional steel manufacturing 34

4.4. Market Opportunities 35

4.4.1. Technological advancements in hydrogen-based steel production 35

4.5. Porter’s Five Forces Analysis 36

4.6. Value Chain Analysis 37

4.7. Buying Criteria 38

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 39

5.1. Import Analysis by Region 39

5.1.1. Global Green Steel Market Import Volume/Revenue, By Region, 2018 – 2023 39

5.2. Export Analysis by Region 40

5.2.1. Global Green Steel Market Export Volume/Revenue, By Region, 2018 – 2023 40

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 41

6.1. Demand Analysis by Region 41

6.1.1. Global Green Steel Market Demand Volume/Revenue, By Region, 2018 – 2023 41

6.2. Supply Analysis by Region 42

6.2.1. Global Green Steel Market Supply Volume/Revenue, By Region, 2018 – 2023 42

CHAPTER NO. 7 : PRODUCTION ANALYSIS 43

7.1. Production Analysis by Region 43

7.1.1. Global Green Steel Market Production Volume/Revenue, By Region, 2018 – 2023 43

CHAPTER NO. 8 : PRICE ANALYSIS 44

8.1. Price Analysis by Region 44

8.1.1. Global Green Steel Market Price, By Region, 2018 – 2023 44

8.1.2. Global Production Method Market Price, By Region, 2018 – 2023 44

8.2. Price Analysis by Production Method 45

8.2.1. Global Green Steel Market Price, By Production Method, 2018 – 2023 45

8.2.2. Global Production Method Market Price, By Production Method, 2018 – 2023 45

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 46

9.1. Key Raw Materials and Suppliers 46

9.2. Key Raw Materials Price Trend 46

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 47

10.1. Manufacturing Cost Analysis 47

10.2. Manufacturing Process 47

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 48

11.1. Company Market Share Analysis – 2023 48

11.1.1. Global Green Steel Market: Company Market Share, by Volume, 2023 48

11.1.2. Global Green Steel Market: Company Market Share, by Revenue, 2023 49

11.1.3. Global Green Steel Market: Top 6 Company Market Share, by Revenue, 2023 49

11.1.4. Global Green Steel Market: Top 3 Company Market Share, by Revenue, 2023 50

11.2. Global Green Steel Market Company Volume Market Share, 2023 51

11.3. Global Green Steel Market Company Revenue Market Share, 2023 52

11.4. Company Assessment Metrics, 2023 52

11.4.1. Stars 52

11.4.2. Emerging Leaders 52

11.4.3. Pervasive Players 52

11.4.4. Participants 52

11.5. Start-ups /SMEs Assessment Metrics, 2023 52

11.5.1. Progressive Companies 52

11.5.2. Responsive Companies 53

11.5.3. Dynamic Companies 53

11.5.4. Starting Blocks 53

11.6. Strategic Developments 54

11.6.1. Acquisitions & Mergers 54

New Product Launch 54

Regional Expansion 54

11.7. Key Players Product Matrix 55

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 56

12.1. PESTEL 56

12.1.1. Political Factors 56

12.1.2. Economic Factors 56

12.1.3. Social Factors 56

12.1.4. Technological Factors 56

12.1.5. Environmental Factors 56

12.1.6. Legal Factors 56

12.2. Adjacent Market Analysis 56

CHAPTER NO. 13 : GREEN STEEL MARKET – BY PRODUCTION METHOD SEGMENT ANALYSIS 57

13.1. Green Steel Market Overview, by Production Method Segment 57

13.1.1. Green Steel Market Revenue Share, By Production Method, 2023 & 2032 58

13.1.2. Green Steel Market Attractiveness Analysis, By Production Method 59

13.1.3. Incremental Revenue Growth Opportunity, by Production Method, 2024 – 2032 59

13.1.4. Green Steel Market Revenue, By Production Method, 2018, 2023, 2027 & 2032 60

13.2. Hydrogen-based Steel Production 61

13.2.1. Global Hydrogen-based Steel Production Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 62

13.2.2. Global Hydrogen-based Steel Production Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 62

13.3. Electric Arc Furnace (EAF) Steel Production 63

13.3.1. Global Electric Arc Furnace (EAF) Steel Production Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 64

13.3.2. Global Electric Arc Furnace (EAF) Steel Production Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 64

13.4. Recycled Steel 65

13.4.1. Global Recycled Steel Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 66

13.4.2. Global Recycled Steel Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 66

CHAPTER NO. 14 : GREEN STEEL MARKET – BY APPLICATION SEGMENT ANALYSIS 67

14.1. Green Steel Market Overview, by Application Segment 67

14.1.1. Green Steel Market Revenue Share, By Application, 2023 & 2032 68

14.1.2. Green Steel Market Attractiveness Analysis, By Application 69

14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 69

14.1.4. Green Steel Market Revenue, By Application, 2018, 2023, 2027 & 2032 70

14.2. Construction 71

14.2.1. Global Construction Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 72

14.2.2. Global Construction Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 72

14.3. Automotive 73

14.3.1. Global Automotive Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 74

14.3.2. Global Automotive Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 74

14.4. Energy 75

14.4.1. Global Energy Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 76

14.4.2. Global Energy Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 76

14.5. Industrial Machinery 77

14.5.1. Global Industrial Machinery Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 78

14.5.2. Global Industrial Machinery Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 78

14.6. Consumer Goods 79

14.6.1. Global Consumer Goods Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 80

14.6.2. Global Consumer Goods Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 80

CHAPTER NO. 15 : GREEN STEEL MARKET – BY END-USE INDUSTRY SEGMENT ANALYSIS 81

15.1. Green Steel Market Overview, by End-Use Industry Segment 81

15.1.1. Green Steel Market Revenue Share, By End-Use Industry, 2023 & 2032 82

15.1.2. Green Steel Market Attractiveness Analysis, By End-Use Industry 83

15.1.3. Incremental Revenue Growth Opportunity, by End-Use Industry, 2024 – 2032 83

15.1.4. Green Steel Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 84

15.2. Building & Construction 85

15.2.1. Global Building & Construction Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 86

15.2.2. Global Building & Construction Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 86

15.3. Transportation 87

15.3.1. Global Transportation Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 88

15.3.2. Global Transportation Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 88

15.4. Energy & Utilities 89

15.4.1. Global Energy & Utilities Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 90

15.4.2. Global Energy & Utilities Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 90

15.5. Packaging 91

15.5.1. Global Packaging Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 92

15.5.2. Global Packaging Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 92

CHAPTER NO. 16 : GREEN STEEL MARKET – REGIONAL ANALYSIS 93

16.1. Green Steel Market Overview, by Regional Segments 93

16.2. Region 94

16.2.1. Global Green Steel Market Revenue Share, By Region, 2023 & 2032 94

16.2.2. Green Steel Market Attractiveness Analysis, By Region 95

16.2.3. Incremental Revenue Growth Opportunity, by Region, 2024 – 2032 95

16.2.4. Green Steel Market Revenue, By Region, 2018, 2023, 2027 & 2032 96

16.2.5. Global Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 97

16.2.6. Global Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 97

16.3. Production Method 98

16.3.1. Global Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 98

16.4. Global Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 98

16.5. Application 99

16.5.1. Global Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 99

16.5.2. Global Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 99

16.6. End-Use Industry 100

16.6.1. Global Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 100

16.6.2. Global Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 100

CHAPTER NO. 17 : GREEN STEEL MARKET – NORTH AMERICA 101

17.1. North America 101

17.1.1. Key Highlights 101

17.1.2. North America Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 102

17.1.3. North America Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 103

17.1.4. North America Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 104

17.1.5. North America Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 105

17.2. U.S. 106

17.3. Canada 106

17.4. Mexico 106

CHAPTER NO. 18 : GREEN STEEL MARKET – EUROPE 107

18.1. Europe 107

18.1.1. Key Highlights 107

18.1.2. Europe Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 108

18.1.3. Europe Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 109

18.1.4. Europe Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 110

18.1.5. Europe Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 111

18.2. UK 112

18.3. France 112

18.4. Germany 112

18.5. Italy 112

18.6. Spain 112

18.7. Russia 112

18.8. Belgium 112

18.9. Netherland 112

18.10. Austria 112

18.11. Sweden 112

18.12. Poland 112

18.13. Denmark 112

18.14. Switzerland 112

18.15. Rest of Europe 112

CHAPTER NO. 19 : GREEN STEEL MARKET – ASIA PACIFIC 113

19.1. Asia Pacific 113

19.1.1. Key Highlights 113

19.1.2. Asia Pacific Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 114

19.1.3. Asia Pacific Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 115

19.1.4. Asia Pacific Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 116

19.1.5. Asia Pacific Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 117

19.2. China 118

19.3. Japan 118

19.4. South Korea 118

19.5. India 118

19.6. Australia 118

19.7. Thailand 118

19.8. Indonesia 118

19.9. Vietnam 118

19.10. Malaysia 118

19.11. Philippines 118

19.12. Taiwan 118

19.13. Rest of Asia Pacific 118

CHAPTER NO. 20 : GREEN STEEL MARKET – LATIN AMERICA 119

20.1. Latin America 119

20.1.1. Key Highlights 119

20.1.2. Latin America Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 120

20.1.3. Latin America Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 121

20.1.4. Latin America Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 122

20.1.5. Latin America Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 123

20.2. Brazil 124

20.3. Argentina 124

20.4. Peru 124

20.5. Chile 124

20.6. Colombia 124

20.7. Rest of Latin America 124

CHAPTER NO. 21 : GREEN STEEL MARKET – MIDDLE EAST 125

21.1. Middle East 125

21.1.1. Key Highlights 125

21.1.2. Middle East Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 126

21.1.3. Middle East Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 127

21.1.4. Middle East Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 128

21.1.5. Middle East Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 129

21.2. UAE 130

21.3. KSA 130

21.4. Israel 130

21.5. Turkey 130

21.6. Iran 130

21.7. Rest of Middle East 130

CHAPTER NO. 22 : GREEN STEEL MARKET – AFRICA 131

22.1. Africa 131

22.1.1. Key Highlights 131

22.1.2. Africa Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 132

22.1.3. Africa Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 133

22.1.4. Africa Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 134

22.1.5. Africa Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 135

22.2. Egypt 136

22.3. Nigeria 136

22.4. Algeria 136

22.5. Morocco 136

22.6. Rest of Africa 136

CHAPTER NO. 23 : COMPANY PROFILES 137

23.1. ArcelorMittal 137

23.1.1. Company Overview 137

23.1.2. Product Portfolio 137

23.1.3. Swot Analysis 137

23.1.4. Business Strategy 138

23.1.5. Financial Overview 138

23.2. Tata Steel 139

23.3. SSAB AB 139

23.4. Voestalpine AG 139

23.5. Thyssenkrupp AG 139

23.6. Nippon Steel Corporation 139

23.7. POSCO 139

23.8. H2 Green Steel 139

23.9. JFE Steel Corporation 139

23.10. HBIS Group 139

List of Figures

FIG NO. 1. Global Green Steel Market Revenue, 2018 – 2032 (USD Million) 29

FIG NO. 2. Porter’s Five Forces Analysis for Global Green Steel Market 36

FIG NO. 3. Value Chain Analysis for Global Green Steel Market 37

FIG NO. 4. Global Green Steel Market Import Volume/Revenue, By Region, 2018 – 2023 39

FIG NO. 5. Global Green Steel Market Export Volume/Revenue, By Region, 2018 – 2023 40

FIG NO. 6. Global Green Steel Market Demand Volume/Revenue, By Region, 2018 – 2023 41

FIG NO. 7. Global Green Steel Market Supply Volume/Revenue, By Region, 2018 – 2023 42

FIG NO. 8. Global Green Steel Market Production Volume/Revenue, By Region, 2018 – 2023 43

FIG NO. 9. Global Green Steel Market Price, By Region, 2018 – 2023 44

FIG NO. 10. Global Green Steel Market Price, By Production Method, 2018 – 2023 45

FIG NO. 11. Raw Materials Price Trend Analysis, 2018 – 2023 46

FIG NO. 12. Manufacturing Cost Analysis 47

FIG NO. 13. Manufacturing Process 47

FIG NO. 14. Company Share Analysis, 2023 48

FIG NO. 15. Company Share Analysis, 2023 49

FIG NO. 16. Company Share Analysis, 2023 49

FIG NO. 17. Company Share Analysis, 2023 50

FIG NO. 18. Green Steel Market – Company Volume Market Share, 2023 51

FIG NO. 19. Green Steel Market – Company Revenue Market Share, 2023 52

FIG NO. 20. Green Steel Market Revenue Share, By Production Method, 2023 & 2032 58

FIG NO. 21. Market Attractiveness Analysis, By Production Method 59

FIG NO. 22. Incremental Revenue Growth Opportunity by Production Method, 2024 – 2032 59

FIG NO. 23. Green Steel Market Revenue, By Production Method, 2018, 2023, 2027 & 2032 60

FIG NO. 24. Global Green Steel Market for Hydrogen-based Steel Production, Revenue (USD Million) 2018 – 2032 61

FIG NO. 25. Global Green Steel Market for Electric Arc Furnace (EAF) Steel Production, Revenue (USD Million) 2018 – 2032 63

FIG NO. 26. Global Green Steel Market for Recycled Steel, Revenue (USD Million) 2018 – 2032 65

FIG NO. 27. Green Steel Market Revenue Share, By Application, 2023 & 2032 68

FIG NO. 28. Market Attractiveness Analysis, By Application 69

FIG NO. 29. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 69

FIG NO. 30. Green Steel Market Revenue, By Application, 2018, 2023, 2027 & 2032 70

FIG NO. 31. Global Green Steel Market for Construction, Revenue (USD Million) 2018 – 2032 71

FIG NO. 32. Global Green Steel Market for Automotive, Revenue (USD Million) 2018 – 2032 73

FIG NO. 33. Global Green Steel Market for Energy, Revenue (USD Million) 2018 – 2032 75

FIG NO. 34. Global Green Steel Market for Industrial Machinery, Revenue (USD Million) 2018 – 2032 77

FIG NO. 35. Global Green Steel Market for Consumer Goods, Revenue (USD Million) 2018 – 2032 79

FIG NO. 36. Green Steel Market Revenue Share, By End-Use Industry, 2023 & 2032 82

FIG NO. 37. Market Attractiveness Analysis, By End-Use Industry 83

FIG NO. 38. Incremental Revenue Growth Opportunity by End-Use Industry, 2024 – 2032 83

FIG NO. 39. Green Steel Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 84

FIG NO. 40. Global Green Steel Market for Building & Construction, Revenue (USD Million) 2018 – 2032 85

FIG NO. 41. Global Green Steel Market for Transportation, Revenue (USD Million) 2018 – 2032 87

FIG NO. 42. Global Green Steel Market for Energy & Utilities, Revenue (USD Million) 2018 – 2032 89

FIG NO. 43. Global Green Steel Market for Packaging, Revenue (USD Million) 2018 – 2032 91

FIG NO. 44. Global Green Steel Market Revenue Share, By Region, 2023 & 2032 94

FIG NO. 45. Market Attractiveness Analysis, By Region 95

FIG NO. 46. Incremental Revenue Growth Opportunity by Region, 2024 – 2032 95

FIG NO. 47. Green Steel Market Revenue, By Region, 2018, 2023, 2027 & 2032 96

FIG NO. 48. North America Green Steel Market Revenue, 2018 – 2032 (USD Million) 101

FIG NO. 49. Europe Green Steel Market Revenue, 2018 – 2032 (USD Million) 107

FIG NO. 50. Asia Pacific Green Steel Market Revenue, 2018 – 2032 (USD Million) 113

FIG NO. 51. Latin America Green Steel Market Revenue, 2018 – 2032 (USD Million) 119

FIG NO. 52. Middle East Green Steel Market Revenue, 2018 – 2032 (USD Million) 125

FIG NO. 53. Africa Green Steel Market Revenue, 2018 – 2032 (USD Million) 131

List of Tables

TABLE NO. 1. : Global Green Steel Market: Snapshot 28

TABLE NO. 2. : Drivers for the Green Steel Market: Impact Analysis 32

TABLE NO. 3. : Restraints for the Green Steel Market: Impact Analysis 34

TABLE NO. 4. : Global Green Steel Market Revenue, By Region, 2018 – 2023 44

TABLE NO. 5. : Global Green Steel Market Revenue, By Production Method, 2018 – 2023 45

TABLE NO. 6. : Key Raw Materials & Suppliers 46

TABLE NO. 7. : Global Hydrogen-based Steel Production Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 62

TABLE NO. 8. : Global Hydrogen-based Steel Production Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 62

TABLE NO. 9. : Global Electric Arc Furnace (EAF) Steel Production Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 64

TABLE NO. 10. : Global Electric Arc Furnace (EAF) Steel Production Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 64

TABLE NO. 11. : Global Recycled Steel Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 66

TABLE NO. 12. : Global Recycled Steel Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 66

TABLE NO. 13. : Global Construction Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 72

TABLE NO. 14. : Global Construction Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 72

TABLE NO. 15. : Global Automotive Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 74

TABLE NO. 16. : Global Automotive Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 74

TABLE NO. 17. : Global Energy Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 76

TABLE NO. 18. : Global Energy Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 76

TABLE NO. 19. : Global Industrial Machinery Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 78

TABLE NO. 20. : Global Industrial Machinery Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 78

TABLE NO. 21. : Global Consumer Goods Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 80

TABLE NO. 22. : Global Consumer Goods Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 80

TABLE NO. 23. : Global Building & Construction Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 86

TABLE NO. 24. : Global Building & Construction Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 86

TABLE NO. 25. : Global Transportation Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 88

TABLE NO. 26. : Global Transportation Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 88

TABLE NO. 27. : Global Energy & Utilities Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 90

TABLE NO. 28. : Global Energy & Utilities Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 90

TABLE NO. 29. : Global Packaging Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 92

TABLE NO. 30. : Global Packaging Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 92

TABLE NO. 31. : Global Green Steel Market Revenue, By Region, 2018 – 2023 (USD Million) 97

TABLE NO. 32. : Global Green Steel Market Revenue, By Region, 2024 – 2032 (USD Million) 97

TABLE NO. 33. : Global Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 98

TABLE NO. 34. : Global Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 98

TABLE NO. 35. : Global Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 99

TABLE NO. 36. : Global Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 99

TABLE NO. 37. : Global Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 100

TABLE NO. 38. : Global Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 100

TABLE NO. 39. : North America Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 102

TABLE NO. 40. : North America Green Steel Market Revenue, By Country, 2024 – 2032 (USD Million) 102

TABLE NO. 41. : North America Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 103

TABLE NO. 42. : North America Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 103

TABLE NO. 43. : North America Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 104

TABLE NO. 44. : North America Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 104

TABLE NO. 45. : North America Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 105

TABLE NO. 46. : North America Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 105

TABLE NO. 47. : Europe Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 108

TABLE NO. 48. : Europe Green Steel Market Revenue, By Country, 2024 – 2032 (USD Million) 108

TABLE NO. 49. : Europe Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 109

TABLE NO. 50. : Europe Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 109

TABLE NO. 51. : Europe Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 110

TABLE NO. 52. : Europe Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 110

TABLE NO. 53. : Europe Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 111

TABLE NO. 54. : Europe Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 111

TABLE NO. 55. : Asia Pacific Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 114

TABLE NO. 56. : Asia Pacific Green Steel Market Revenue, By Country, 2024 – 2032 (USD Million) 114

TABLE NO. 57. : Asia Pacific Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 115

TABLE NO. 58. : Asia Pacific Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 115

TABLE NO. 59. : Asia Pacific Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 116

TABLE NO. 60. : Asia Pacific Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 116

TABLE NO. 61. : Asia Pacific Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 117

TABLE NO. 62. : Asia Pacific Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 117

TABLE NO. 63. : Latin America Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 120

TABLE NO. 64. : Latin America Green Steel Market Revenue, By Country, 2024 – 2032 (USD Million) 120

TABLE NO. 65. : Latin America Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 121

TABLE NO. 66. : Latin America Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 121

TABLE NO. 67. : Latin America Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 122

TABLE NO. 68. : Latin America Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 122

TABLE NO. 69. : Latin America Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 123

TABLE NO. 70. : Latin America Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 123

TABLE NO. 71. : Middle East Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 126

TABLE NO. 72. : Middle East Green Steel Market Revenue, By Country, 2024 – 2032 (USD Million) 126

TABLE NO. 73. : Middle East Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 127

TABLE NO. 74. : Middle East Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 127

TABLE NO. 75. : Middle East Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 128

TABLE NO. 76. : Middle East Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 128

TABLE NO. 77. : Middle East Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 129

TABLE NO. 78. : Middle East Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 129

TABLE NO. 79. : Africa Green Steel Market Revenue, By Country, 2018 – 2023 (USD Million) 132

TABLE NO. 80. : Africa Green Steel Market Revenue, By Country, 2024 – 2032 (USD Million) 132

TABLE NO. 81. : Africa Green Steel Market Revenue, By Production Method, 2018 – 2023 (USD Million) 133

TABLE NO. 82. : Africa Green Steel Market Revenue, By Production Method, 2024 – 2032 (USD Million) 133

TABLE NO. 83. : Africa Green Steel Market Revenue, By Application, 2018 – 2023 (USD Million) 134

TABLE NO. 84. : Africa Green Steel Market Revenue, By Application, 2024 – 2032 (USD Million) 134

TABLE NO. 85. : Africa Green Steel Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 135

TABLE NO. 86. : Africa Green Steel Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 135

Frequently Asked Questions

What is the current size of the Green Steel Market?

The Green Steel Market is projected to grow significantly, with estimates indicating it will reach approximately USD 130.02 billion by 2032, expanding from USD 2.65 billion in 2024. This remarkable growth underscores the increasing importance of sustainable steel production in various industries.

What factors are driving the growth of the Green Steel Market?

Key factors driving the growth of the Green Steel Market include stringent government regulations aimed at reducing carbon emissions, heightened consumer demand for sustainable products, and significant investments in innovative technologies such as hydrogen-based steelmaking and electric arc furnaces. Additionally, global initiatives to combat climate change, such as the Paris Agreement, compel steel manufacturers to adopt greener practices to meet their sustainability goals.

What are some challenges faced by the Green Steel Market?

The Green Steel Market faces challenges such as high production costs associated with implementing new technologies, the need for substantial investments in infrastructure, and the limited availability of green hydrogen as a feedstock. Furthermore, competition from traditional steel production methods, which can be cheaper, poses significant barriers to widespread adoption.

Who are the major players in the Green Steel Market?

Major players in the Green Steel Market include ArcelorMittal, Nucor Corporation, SSAB, Thyssenkrupp AG, Cleveland-Cliffs Inc., and POSCO. These companies are leading the transition towards sustainable steel production through significant investments in green technologies.

Which segment is leading the market share?

The electric arc furnace (EAF) segment is currently leading the market share due to its lower carbon footprint and flexibility in using recycled materials. EAF technology is increasingly favored for its ability to integrate renewable energy sources, making it a key driver of the green steel movement.

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