Us Sustainable Steel Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Sustainable Steel Market was valued at USD 97.3 Billion in 2022 and is projected to reach USD 150.2 Billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030.
The U.S. sustainable steel market is undergoing a significant transformation, driven by environmental imperatives and technological advancements. As of 2023, the global sustainable steel market was valued at $329.83 billion, with projections indicating growth to $820.14 billion by 2034, reflecting a compound annual growth rate (CAGR) of 8.52%.
In the United States, the green steel sector is poised for remarkable expansion. Valued at $2.39 billion in 2024, forecasts suggest it will reach $142.28 billion by 2034, exhibiting a CAGR of 50.50%. This surge is largely attributed to the increasing demand for low-carbon construction materials and stringent environmental regulations.
Industry leaders are actively pursuing sustainability goals. In April 2021, U.S. Steel announced an ambitious objective to achieve net-zero greenhouse gas emissions by 2050. This commitment underscores the company's dedication to environmental responsibility and aligns with global efforts to combat climate change.
Technological innovations are at the forefront of this green revolution. The adoption of renewable-electric arc furnaces (R-EAF) has been pivotal, with this production technology holding a significant market share of 54.3% in 2023. Additionally, energy sources like solar power accounted for 44.5% of the energy mix, highlighting a shift towards cleaner production methods.
However, the transition is not without challenges. The CEO of Cleveland-Cliffs, a prominent U.S. steelmaker, has expressed concerns about the financial viability of producing low-carbon "green" steel. Despite receiving a $500 million grant from the Biden administration to reduce emissions, the company is contemplating abandoning the project due to difficulties in convincing buyers to absorb the higher costs associated with environmentally friendly steel.
Certification plays a crucial role in ensuring the credibility of sustainable steel. U.S. Steel's Big River Steel plant achieving ResponsibleSteel certification exemplifies progress towards industry-wide sustainability standards. Such certifications encompass various sustainability metrics, not just carbon emissions, setting a benchmark for the global industry.
In conclusion, the U.S. sustainable steel market is at a pivotal juncture. While significant strides have been made in adopting greener technologies and setting ambitious environmental goals, economic and market challenges persist. The industry's future will depend on balancing environmental responsibilities with financial viability, ensuring that sustainable practices are both eco-friendly and economically sound.
Get an In-Depth Research Analysis of the Global Sustainable Steel Market Size And Forecast [2025-2032]
ArcelorMittal
CMC
Gerdau S/A
LIBERTY Steel Group
NUCOR
Steel Dynamics
Pascap
POSCO
Schnitzer Steel Industries
Lech Stahlwerke
Tata Steel
Celsa Group
Boston Metal
HBIS GROUP
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global Sustainable Steel Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the Global Sustainable Steel Market
Green Steel
Recycled Steel
Low Carbon Steel
High-strength Steel
Electric Arc Furnace (EAF)
Basic Oxygen Furnace (BOF)
Open Hearth Process
Hydrogen-based Production
Construction
Automotive
Aerospace
Energy
Consumer Goods
Flat Products
Long Products
Steel Plates
Steel Bars and Rods
Life Cycle Assessment (LCA)
Environmental Product Declaration (EPD)
Carbon Trust Standards
ISO 14001 Environmental Management
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Sustainable Steel Market Research Analysis
1. Introduction of the Global Sustainable Steel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Sustainable Steel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Sustainable Steel Market, By Type
6. Global Sustainable Steel Market, By Application
7. Global Sustainable Steel Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Sustainable Steel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/