Product Code: MCB1490SS
“The Asia-Pacific Sustainable Steel Market (excluding China) Expected to Reach $153.4 Billion by 2031.”
KEY MARKET STATISTICS |
Forecast Period | 2022 - 2031 |
2022 Evaluation | $68.4 Billion |
2031 Forecast | $153.4 Billion |
CAGR | 9.39% |
Introduction to Asia Pacific (APAC) Sustainable Steel Market
The Asia-Pacific sustainable steel market (excluding China) is projected to reach $153.4 billion by 2031 from $68.4 billion in 2022, growing at a CAGR of 9.39% during the forecast period 2022-2031. The expansion of the Asia-Pacific sustainable steel market is anticipated to be driven by strict government regulations, carbon neutrality objectives, energy efficiency in the use of recycled steel, and a significant increase in steel demand as a result of finite energy and raw material supplies. However, challenges like contaminants in recovered steel from improper separation and complex product designs, in addition to high production costs of green steel in the face of significant infrastructure costs and green hydrogen prices, constitute significant market barriers in this area.
Market Introduction
Leading the way in the sustainable steel market is the Asia-Pacific area, which places a strong emphasis on the use of low-carbon manufacturing techniques, resource efficiency, and environmentally friendly practices. Many interrelated issues, such as tightening environmental regulations, the increased focus on carbon neutrality, and the need for affordable and efficient steel manufacturing, are driving the industry. In the Asia-Pacific area, sustainable steel is becoming more and more popular. It meets the needs of a variety of industries, such as infrastructure, automotive, and construction, while also meeting the urgent need to lessen the environmental impact of steel production.
Market Segmentation
Segmentation 1: by End-Use Application
- Transportation
- Building and Construction
- Furniture and Appliances
- Packaging
- Others
Segmentation 2: by Technology
- Electric Arc Furnace (EAF)
- Blast Furnace-Basic Oxygen Furnace (BF-BOF)
- Others
Segmentation 3: by Country
- Japan
- India
- South Korea
- Rest-of-Asia Pacific
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of sustainable steel available and their potential in the asia-pacific region. Moreover, the study provides the reader with a detailed understanding of the different sustainable steel end-use applications in industries such as transportation, building and construction, furniture and appliances, packaging, and others.
Growth/Marketing Strategy: Business expansions, partnerships, acquisitions, collaborations, and joint ventures are some key strategies adopted by key players operating in the space.
Competitive Strategy: Key players in the APAC sustainable steel market analyzed and profiled in the study involve sustainable steel providers. Moreover, a detailed competitive benchmarking of the players operating in the APAC sustainable steel market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
- HBIS GROUP
- NIPPON STEEL CORPORATION
- POSCO
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Table of Contents
1 Markets
- 1.1 Industry Outlook
- 1.1.1 Trends: Current and Future
- 1.1.1.1 Rising Investments in Green Technologies
- 1.1.1.2 Change in Business Models of Companies due to Climate Action
- 1.1.2 Supply Chain Analysis
- 1.1.3 Impact of COVID-19 on the Sustainable Steel Market
- 1.1.4 Impact of Russia and Ukraine War on the Sustainable Steel Market
- 1.1.5 Ecosystem/Ongoing Programs
- 1.2 Business Dynamics
- 1.2.1 Business Drivers
- 1.2.1.1 Stringent Regulations and Carbon Neutrality Targets
- 1.2.1.2 Energy and Cost Efficiency owing to the Use of Recycled Steel
- 1.2.1.3 Significant Increase in Steel Demand with Scarcity of Raw Materials and Energy
- 1.2.2 Business Challenges
- 1.2.2.1 Impurities due to Incomplete Separation and Complex Product Design
- 1.2.2.2 High Infrastructure Cost and Green Hydrogen Prices Curbing the Green Steel Developments
- 1.2.3 Business Strategies
- 1.2.3.1 Market Developments
- 1.2.3.2 Product Developments
- 1.2.4 Corporate Strategies
- 1.2.4.1 Partnerships, Acquisitions, Collaborations, and Joint Ventures
- 1.2.5 Business Opportunity
- 1.2.5.1 Increasing Demand for Green Steel across the Value Chain
- 1.2.5.2 Development of Economic and Environmental Technologies
- 1.3 Start-Up Landscape
- 1.3.1 Key Start-Ups in the Ecosystem
- 1.4 Patent Analysis
- 1.4.1 Patent Analysis (by Status)
- 1.4.2 Patent Analysis (by Leading Countries)
- 1.5 Global and Regional Level: Average Pricing Analysis
- 1.6 Global Green Steel Projects and Developments
2 Asia-Pacific
- 2.1 China
- 2.1.1 Market
- 2.1.1.1 Buyer Attributes
- 2.1.1.2 Key Manufacturers/Suppliers in China
- 2.1.1.3 Business Challenges
- 2.1.1.4 Business Drivers
- 2.1.2 Application
- 2.1.2.1 China Sustainable Steel Market (by End-Use Application), Volume and Value Data
- 2.1.3 Product
- 2.1.3.1 China Sustainable Steel Market (by Technology), Volume and Value Data
- 2.2 Asia-Pacific and Japan
- 2.2.1 Market
- 2.2.1.1 Key Manufacturers/Suppliers in Asia-Pacific and Japan
- 2.2.1.2 Business Challenges
- 2.2.1.3 Business Drivers
- 2.2.2 Application
- 2.2.2.1 Asia-PacificSustainable Steel Market (by End-Use Application), Volume and Value Data
- 2.2.3 Product
- 2.2.3.1 Asia-PacificSustainable Steel Market (by Technology), Volume and Value Data
- 2.2.4 Asia-Pacific Sustainable Steel Market (by Country), Volume and Value Data
- 2.2.5 Asia-Pacific and Japan (by Country)
- 2.2.5.1 Japan
- 2.2.5.1.1 Market
- 2.2.5.1.1.1 Buyer Attributes
- 2.2.5.1.1.2 Key Manufacturers/Suppliers in Japan
- 2.2.5.1.1.3 Business Challenges
- 2.2.5.1.1.4 Business Drivers
- 2.2.5.1.2 Application
- 2.2.5.1.2.1 Japan Sustainable Steel Market (by End-Use Application), Volume and Value Data
- 2.2.5.1.3 Product
- 2.2.5.1.3.1 Japan Sustainable Steel Market (by Technology), Volume and Value Data
- 2.2.5.2 South Korea
- 2.2.5.2.1 Market
- 2.2.5.2.1.1 Buyer Attributes
- 2.2.5.2.1.2 Key Manufacturers/Suppliers in South Korea
- 2.2.5.2.1.3 Business Challenges
- 2.2.5.2.1.4 Business Drivers
- 2.2.5.2.2 Application
- 2.2.5.2.2.1 South Korea Sustainable Steel Market (by End-Use Application), Volume and Value Data
- 2.2.5.2.3 Product
- 2.2.5.2.3.1 South Korea Sustainable Steel Market (by Technology), Volume and Value Data
- 2.2.5.3 India
- 2.2.5.3.1 Market
- 2.2.5.3.1.1 Buyer Attributes
- 2.2.5.3.1.2 Key Manufacturers/Suppliers in India
- 2.2.5.3.1.3 Business Challenges
- 2.2.5.3.1.4 Business Drivers
- 2.2.5.3.2 Application
- 2.2.5.3.2.1 India Sustainable Steel Market (by End-Use Application), Volume and Value Data
- 2.2.5.3.3 Product
- 2.2.5.3.3.1 India Sustainable Steel Market (by Technology), Volume and Value Data
- 2.2.5.4 Rest-of-Asia-Pacific and Japan
- 2.2.5.4.1 Market
- 2.2.5.4.1.1 Buyer Attributes
- 2.2.5.4.1.2 Key Manufacturers/Suppliers in Rest-of-Asia-Pacific and Japan
- 2.2.5.4.1.3 Business Challenges
- 2.2.5.4.1.4 Business Drivers
- 2.2.5.4.2 Application
- 2.2.5.4.2.1 Rest-of-Asia-Pacific and Japan Sustainable Steel Market (by End-Use Application), Volume and Value Data
- 2.2.5.4.3 Product
- 2.2.5.4.3.1 Rest-of-Asia-Pacific and Japan Sustainable Steel Market (by Technology), Volume and Value Data
3 Markets-- Competitive Benchmarking & Company Profiles
- 3.1 Competitive Benchmarking
- 3.1.1 Competitive Position Matrix
- 3.1.2 Product Matrix for Key Companies
- 3.1.3 Market Share Analysis of Key Companies
- 3.2 Company Profiles
- 3.2.1 HBIS GROUP
- 3.2.1.1 Company Overview
- 3.2.1.1.1 Role of HBIS GROUP in the Sustainable Steel Market
- 3.2.1.1.2 Product Portfolio
- 3.2.1.1.3 Business Strategies
- 3.2.1.1.3.1 Market Development
- 3.2.1.1.4 Corporate Strategies
- 3.2.1.1.4.1 Partnerships, Acquisitions, Collaborations, and Joint Ventures
- 3.2.1.1.5 Analyst View
- 3.2.2 NIPPON STEEL CORPORATION
- 3.2.2.1 Company Overview
- 3.2.2.1.1 Role of NIPPON STEEL CORPORATION in the Sustainable Steel Market
- 3.2.2.1.2 Product Portfolio
- 3.2.2.1.3 Business Strategies
- 3.2.2.1.3.1 Market Development
- 3.2.2.1.3.2 Product Development
- 3.2.2.1.4 Corporate Strategies
- 3.2.2.1.4.1 Partnerships, Acquisitions, Collaborations, and Joint Ventures
- 3.2.2.1.5 R&D Analysis
- 3.2.2.1.6 Analyst View
- 3.2.3 POSCO
- 3.2.3.1 Company Overview
- 3.2.3.1.1 Role of POSCO in the Sustainable Steel Market
- 3.2.3.1.2 Product Portfolio
- 3.2.3.1.3 Business Strategies
- 3.2.3.1.3.1 Product Development
- 3.2.3.1.4 Corporate Strategies
- 3.2.3.1.4.1 Partnerships, Acquisitions, Collaborations, and Joint Ventures
- 3.2.3.1.5 Analyst View
- 3.2.4 Tata Steel
- 3.2.4.1 Company Overview
- 3.2.4.1.1 Role of Tata Steel in the Sustainable Steel Market
- 3.2.4.1.2 Product Portfolio
- 3.2.4.1.3 Business Strategies
- 3.2.4.1.3.1 Market Development
- 3.2.4.1.3.2 Product Development
- 3.2.4.1.4 Corporate Strategies
- 3.2.4.1.4.1 Partnerships, Acquisitions, Collaborations, and Joint Ventures
- 3.2.4.1.5 R&D Analysis
- 3.2.4.1.6 Analyst View
- 3.2.5 ScrapBuk
- 3.2.5.1 Company Overview
- 3.2.5.1.1 Role of ScrapBuk in the Sustainable Steel Market
- 3.2.5.1.2 Product Portfolio
- 3.2.5.1.3 Analyst View
4 Research Methodology