High Carbon Steel Market : Growth and New Market Opportunities Explored 2017 – 2025
Increasing GDP of developing nations in Asia Pacific, Latin America, and the Middle East and Africa are resulting in rapid urbanization, which in turn is providing a major boost to construction activities. This is serving to stoke the demand for carbon steel which is a much sought after construction material for its use in making fences, pots, pans, bridges, buildings, and even wires.
Depending upon the proportions of iron and carbon in making carbon steel, it can be divided into low carbon steel, medium carbon steel, and high carbon steel. High carbon steel on account of the greater proportion of carbon in it is harder and more resistant to wear. It is also brittle on the flipside.
The properties of extreme hardness and resistance to wear makes high carbon steel perfect for making cutting tools having sharp edges and also masonry nails for penetrating super hard substances such as bricks or concrete blocks since it does not bend. It also finds usage in making farming and gardening equipment, compression springs, and other kinds of high-wear applications, namely high-strength wires, springs, dies, and punches.
High carbon steel finds application in various appliances such as automotive components. Apart from the varied applications, technological innovations leading to emergence of better quality high carbon steel is also having a positive impact on demand.
However, there is one drawback of high carbon steel that is posing a challenge to its widespread uptake. It is the difficulty is welding it. Higher amount of carbon brings down the steel’s temperature resistance and melting point and this results in lowering the weldability of the steel.
Some of the prominent participants in the global market for high carbon steel are Bushwick Metal LLC., Afarak Group, Omega Steel Co., Curtis Steel Co. Inc., and Arcelor Mittal SA. The report throws light on their manufacturing capacities, sales and revenues, key clients, and winning strategies for expansion. It also leverages market-leading analytical tools to uncover the promise and pitfalls that players need to keep in mind while investing.