Press Releases

The global sustainable steel market is expected to grow at a CAGR of 9.1% during the forecast period owing to an increasing shift towards sustainable steel production by steel manufacturers in order to achieve net-zero emissions. Sustainable steel or green steel is predicted to minimize carbon emissions and act as a valuable tool to achieve sustainable development goals in several countries during the forecast period. Sustainable steel is made from green hydrogen that comes from renewable sources and uses no fossil fuels. The rising initiatives by the government globally, increased investment in green steel manufacturing, mounting awareness for green production of steel in several industries, and increased preference to adopt sustainable products by consumers and producers will accelerate the market development of the sustainable steel industry. However, the huge production cost of green steel and product efficacy may stymie market expansion of the global sustainable steel industry during the projected timeframe. Nevertheless, the rising industrial emissions from steel products have prompted businesses to launch strategies and partnerships with private steel-making entities to increase global green steel production.

Boston Metal's most recent round of funding, totaling $120 million, was led by ArcelorMittal (MT.LU) in January 2023. The business hopes to enter the market by 2026 with machinery that will eliminate the significant greenhouse gas emissions associated with the production of steel.

Bowse 53 market data Tables and 35 Figures spread through 210 Pages and in-depth TOC on "Sustainable Steel Market by Production Technology (Electric Arc Furnace and Molten Oxide Electrolysis), by Energy Source (Solar, Wind, and Others), by End User (Building & Construction, Electronics, Industrial Equipment, Automotive & Transportation, and Others), and Region - Global Forecast to 2030

By Production Technology, Electric Arc Furnace segment will witness the largest market growth during the forecast period.

Based on Production Technology, the Global Sustainable Steel Market is bifurcated into Electric Arc Furnace and Molten Oxide Electrolysis. Electric Arc Furnaces dominates the market as electric arc furnace effectively decreases the energy required to produce green steel. It is increasingly deployed for producing carbon-free steel.

Global Sustainable Steel Market Segmentation and Key Players

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“Europe is expected to dominate during the global Sustainable Steel Market forecast period.”

Europe is anticipated to dominate the market. The growing investments in countries like Norway, the Netherlands, and Sweden to deploy green hydrogen manufacturing capacity are also contributing to the sustainable production of green steel. Because hydrogen is a reducing agent used in the production of green steel, increased production capability in European countries would be extremely beneficial to green steel production during the forecast period.

Some of the major players in the global Sustainable Steel industry include Tata Steel, ArcelorMittal, Gerdau S/A, HBIS GROUP, LIBERTY Steel Group, NIPPON STEEL CORPORATION, Steel Dynamics, Inc., H2 green steel, United States Steel Corporation, and Jindal Steel & Power Limited.

Global Sustainable Steel Market Coverage

Production Technology Insight and Forecast 2025-2030

• Electric Arc Furnace
• Molten Oxide Electrolysis

Energy Source Insight and Forecast 2025-2030

• Solar
• Wind
• Others

End User Insight and Forecast 2025-2030

• Building & Construction
• Electronics
• Industrial Equipment
• Automotive & Transportation
• Others

Geographical Segmentation

Sustainable Steel Market by Region

North America

• By Production Technology
• By Energy Source
• By End User
• By Country – U.S., Canada, and Mexico

Europe

• By Production Technology
• By Energy Source
• By End User
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Production Technology
• By Energy Source
• By End User
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Production Technology
• By Energy Source
• By End User
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries