DUBLIN, March 19, 2024 /PRNewswire/ — The “Europe Sustainable Steel Market – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
The Europe sustainable steel market (excluding U.K.) is projected to reach $165.9 billion by 2031 from $86.0 billion in 2022, growing at a CAGR of 7.57% during the forecast period 2022-2031.
The growth of the sustainable steel industry in the European market is expected to be driven by strict government regulations, carbon neutrality goals, and the desire for energy and cost efficiency by using recycled steel.
In addition, market expansion is anticipated due to the increased demand for steel as well as the scarcity of energy and raw materials. But obstacles including incomplete separation and complex product design, which can lead to impurities in recycled steel, and high infrastructure and green hydrogen costs might make it expensive to produce green steel, which could impede the market’s growth.
Market Introduction
Carbon neutrality goals, strict government regulations, and the growing need for affordable and energy-efficient solutions are driving a substantial development in the European market for sustainable steel. The sector wants to overcome the lack of raw materials and energy resources, with a focus on employing recycled steel.
Still, there are issues, such as contaminants in recycled steel and the high cost of producing green steel because of infrastructure costs and the high cost of green hydrogen. Despite these obstacles, the industry is expected to grow as the area embraces the advantages of recycled and green steel solutions and keeps up its commitment to sustainability.
Analyst’s Perspective on Sustainable Steel Market
Increasing focus on climate change is driving the transition of energy-intensive and carbon-intensive industries. Although recycled steel is a sustainable option and caters to various end-use applications, green steel is expected to be the best option for the decarbonization of the steel industry in the long term. Stringent regulations and ongoing technological advancements are expected to boost the adoption of sustainable steel in various end-use industries. The growth in the sustainable steel market is estimated to be robust during the forecast period.
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 Europe 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.
Competitive Strategy: Key players in the Europe sustainable steel market analyzed and profiled in the study involve sustainable steel providers. Moreover, a detailed competitive benchmarking of the players operating in the 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
- ArcelorMittal
- LIBERTY Steel Group
- Lech Stahlwerke GmbH
- Celsa Group
- H2 Green Steel
Key Topics Covered:
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
1.1.5.1 Associations
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 Green Steel Projects and Developments
2 Region
2.1 Europe
2.1.1 Market
2.1.1.1 Key Manufacturers/Suppliers in Europe
2.1.1.2 Business Challenges
2.1.1.3 Business Drivers
2.1.2 Application
2.1.2.1 Europe Sustainable Steel Market (by End-Use Application), Volume and Value Data
2.1.3 Product
2.1.3.1 Europe Sustainable Steel Market (by Technology), Volume and Value Data
2.1.4 Europe Sustainable Steel Market (by Country), Volume and Value Data
2.1.5 Europe (by Country)
2.1.5.1 Germany
2.1.5.2 France
2.1.5.3 Italy
2.1.5.4 Spain
2.1.5.5 Rest-of-Europe
2.2 U.K.
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 Company Overview
3.2.1.1 Role in the Sustainable Steel Market
3.2.1.2 Product Portfolio
3.2.1.3 Business Strategies
3.2.1.3.1 Market Development
3.2.1.3.2 Product Development
3.2.1.4 Corporate Strategies
3.2.1.4.1 Partnerships, Acquisitions, Collaborations, and Joint Ventures
3.2.1.5 R&D Analysis
3.2.1.6 Analyst View
4 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/mjf4yx
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