Steel Market Trends 2025-2032 - Future Role in Green Steel, Recycling, and Decarbonization Initiatives

08-20-2025 09:47 AM CET | Chemicals & Materials

Press release from: DataM Intelligence 4 Market Research LLP

Steel Market

DataM Intelligence has published a new research report on "Steel Market Size 2025". The report explores comprehensive and insightful information about various key factors such as regional growth, segmentation, CAGR, business revenue status of top key players and drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status. Get a detailed sample research PDF.

The steel market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis. Steel is a strong, durable alloy of iron and carbon widely used in construction, automotive, infrastructure, and manufacturing due to its versatility, recyclability, and high tensile strength.

Industry developments:

In March 2025, ArcelorMittal Nippon Steel India acquired land in Andhra Pradesh to establish an integrated steel plant with an initial capacity of 7.3 million tonnes per annum. The project supports India's vision of reaching 300 million tonnes of crude steel capacity by 2030.

In January 2025, the Government of India launched a US$1.8 billion (₹15,000 crore) Green Steel Mission to reduce carbon emissions from the steel industry, which contributes 10‑12% of the country's total emissions. The initiative includes a Production‑Linked Incentive (PLI) scheme for green and specialty steel, promotion of green hydrogen, and mandatory procurement of green steel by government agencies.

In June 2024, Tata Steel Nederland introduced Zeremis Recycled, a steel product containing an allocated 30% recycled content. Designed for industries such as automotive, packaging, and construction, this innovation enables customers to claim recycled content at the product level while maintaining uncompromised steel quality supporting their circularity and sustainability goals.

Forecast growth projected:

The global steel market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Key players in the steel market include Baowu Group Corporation Limited, Nippon Corporation, Thyssenkrupp AG, Tata Sons Private Limited, JFE Steel Corporation, Hyundai Steel Co., Ltd., Nucor Corporation, JSW Limited, Pohang Iron and Steel Company, Jiangsu Shagang Group Company Limited and others.

Segment covered in the steel market:

By steel type: carbon steel, alloy steel, stainless steel, tool steel, others.
By product: flat, long, tubular.
By manufacturing process: basic oxygen furnace, electric arc furnace.
By application: industrial structures, building and construction, automotive, electrical appliances, tools and machinery, others.

Regional analysis:

The global steel market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. It discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The steel market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Chapter outline:

[Chapter details omitted for brevity]

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Steel Market Trends 2025-2032 - Future Role in Green Steel, Recycling, and Decarbonization Initiatives

DataM Intelligence released a research report on the global steel market, highlighting trends toward green steel, recycling, and decarbonization. The report covers regional growth, segmentation, CAGR, and key players, and notes major industry developments such as ArcelorMittal Nippon Steel India's new plant in Andhra Pradesh, India's Green Steel Mission, and Tata Steel Nederland's Zeremis Recycled product. The global market is projected to grow from US$1.47 trillion in 2024 to US$2.11 trillion by 2032, with a CAGR of 4.60% from 2025 to 2032.