DUBLIN–(BUSINESS WIRE)–The “Asia-Pacific Sustainable Steel Market – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
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.
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.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 103 |
| Forecast Period | 2022 – 2031 |
| Estimated Market Value (USD) in 2022 | $68.4 Billion |
| Forecasted Market Value (USD) by 2031 | $153.4 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Asia Pacific |
Industry Outlook
Business Dynamics
Business Drivers
Business Challenges
Business Strategies
Corporate Strategies
Business Opportunity
Start-Up Landscape
Patent Analysis
Global and Regional Level: Average Pricing Analysis
Global Green Steel Projects and Developments
Competitive Benchmarking & Company Profiles
Market Segmentation
End-Use Application
Technology
Country
For more information about this report visit https://www.researchandmarkets.com/r/vaai75
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