Transparency Market Research (TMR) presents a new market study on the global high carbon steel market for the forecast period between 2017 and 2025. The report, titled “High Carbon Steel Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” is a scientific instrument that provides valuable insights on demand drivers, growth trends, and technological advances that are likely to have a bearing on the growth trajectory of the said market between 2017 and 2025.
TMR’S report on the global high carbon steel market discusses headwinds and tailwinds shaping the market’s trajectory over the forecast period. It examines the growth behavior of various market segments identifying the ones that hold maximum prospect.
Economic development in emerging economies of Asia Pacific, Latin America, and the Middle East and Africa resulting in rapid urbanization is providing a boost to construction activities. This is serving to stoke demand for high carbon steel which is a sought after construction material for use in fences, pans, pots, wires, bridges, and buildings.
High carbon steel displays properties of extreme hardness and resistance which makes it perfect for several applications. This includes cutting tools with sharp edges and masonry nails for penetrating super hard substances. High carbon steel finds usage in the manufacture of compression springs, farming and gardening equipment, and high-wear applications such as high-strength wires, punches, springs, and dies.
Apart from this, high carbon steel finds application in automotive components. Technological innovations leading to emergence of improved quality high carbon steel is also fueling demand.
However, high carbon steel exhibits shortcomings which is limiting its widespread uptake. High carbon steel is difficult to weld. Higher amount of carbon brings down melting point and temperature resistance of steel, which in turn impacts the weldability of steel.
The global high carbon steel market can be segmented in terms of proportion of iron and carbon and geography. In terms of proportion of iron and carbon, low carbon steel, high carbon steel, and medium carbon steel are the segments into which this market is divided. High carbon steel holds the leading share in the overall market as greater proportion of carbon makes it harder and more resistant to wear.
Geographically, the key segments into which the global high carbon steel market is divided are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Aout of these, North America holds the leading market share because of thrust on upgrading existing infrastructure.
Meanwhile, Asia Pacific is emerging as an attractive market powered by vast urbanization and rapid industrialization in countries such as India, China, and Japan. The region is also the leading producer of high carbon steel thanks to presence of many small and large enterprises for manufacture of carbon steel in China.
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Europe is another key market for high carbon steel. The growth of this regional market is primarily driven by established industrial sector in Germany, France, and the U.K.
Key companies to name in the global high carbon steel market are Bushwick Metal LLC, Omega Steel Co., Arcelor Mittal SA, Afarak Group, and Curtis Steel Co. Inc