Demand from Construction Industry to Boost Medium Carbon Steel Market
Constant and rapid growth of end use industries of medium carbon steel such as oil and gas, construction, railways, and automotive, across developed and developing countries around the world is a major factor behind the growth of medium carbon steel market. In addition to this, the superlative resistance of medium carbon steel to wear and tear, along with good strength and ductility is anticipated to boost market demand in the coming years.
Original equipment manufacturers in end use industries along with medium carbon steel producers are increasingly emphasizing on research and development activities to improve medium carbon steel to have better physical and mechanical properties. In addition to this market players are also focusing on strategic geographical expansion to increase market presence and meet consumer requirements.
On the other hand, volatile raw material prices and the complexity in the process of cutting and shaping medium carbon steel is anticipated to act as a major constraining factor that will hinder the growth of the market.
Medium carbon steel which contains 0.3% to 0.65% of carbon is finding essential applications in a number of end use industries including railway, construction, oil, and automotive industries owing to its properties of enhanced ductility, density, and heat treatment capabilities. Improvements in material by key market players is anticipated to boost the medium carbon steel market through the period of forecast.
For Critical Insights, Request for Sample PDF – https://www.futuremarketinsights.com/reports/sample/rep-gb-7374
Strategic Expansion Strategy to Remain Key Focus for Medium Carbon Steel Market Players
Major medium carbon steel market players including Curtis Steel Co. Inc., O’Neal Steel Inc., Omega Steel Company, ArcelorMittal SA, and High Steel Corporation, among others are working towards expanding their market presence through strategic expansion on a global scale with collaborations mergers and acquisition activities coupled with developing improvements in materials.
- The Norfolk Iron & Metal Company announced its expansion through the acquisition of O’Neal Flat Rolled Metals, a subsidiary of O’Neal Industries Inc. The acquisition is anticipated to enable the Norfolk Iron & Metal Company to expand its operations and provide medium carbon steel products to 30 states of the United States on a daily basis.
- ArcelorMittal recently announced its intention to acquire Essar Steel which is anticipated to greatly increase the lead the company has over other competing players in the medium carbon steel market, with the addition of more than 6 million tonnes of output. The deal is also anticpated to lead towards collaboration with Nippon Steel and Sumitomo Metal Corporation.
- Curtis Steel revealed its use of the 100Cr6 heat treatment process for its medium carbon steel production process, which allows the material to either be used as either bainitic or martensitic structures for enhancements in hardness or resilience and fine grain size distribution throughout the material homogeneity in all aspects of grade and structure.
Construction and Automotive Sector Expansion to Boost Asia Pacific Medium Carbon Steel Market
The Asia Pacific, followed by the North America medium steel market is anticipated to see significant rate of growth, which can be largely attributed to the rapid expansion of construction and automotive in the United States and emerging economies including China and India.
Feel Free to Ask an Analyst- https://www.futuremarketinsights.com/ask-question/rep-gb-7374
The presence of numerous automobile industry market players in Europe and their expanding operations is also anticipated to result in a significant demand for medium carbon steel in the region. This is particularly true for Germany, which has the largest automotive market in Europe.
Latin America and the MEA regions are also expected to witness steady growth in the medium carbon steel market owing to demand in railway and construction industries in these regions.
This report on the medium carbon steel market gives readers a global and regional level analysis of validated data on various market aspects including market opportunities and competitive scenarios.
Segmentation of the Global Medium Carbon Steel Market
Medium carbon steel can be broadly segregated on the basis of applications and end users.
On the terms of applications, medium carbon steel can be divided into
- structural steel,
- shafts and gearing,
- railway vehicle and
- rail components,
- along with pressured structures.
On the terms of end users, medium carbon steel can be classified into
- oil & gas,
- automotive,
- ship building,
- railway transport or
- ship building among others.
Related Links:
https://trendingrelease.blogspot.com/2022/06/microcrystalline-cellulose-market-2022.html
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs