The global flat carbon steel market size was US$ 463.9 billion in 2021. The global flat carbon steel market is forecast to grow to US$ 701 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
Steel is one of the most crucial raw materials needed in the production of a wide range of products. Carbon steel is a low-carbon steel that is available in flat plates, sheets, and ingots with carbon content ranging from 0.04 percent to 0.30 percent. Carbon steel finds applications in gas and oil production.

Factors Influencing the Market
The wide range of applications of flat carbon steel in building and infrastructure development will initially drive the growth of the market. Further, growing awareness among consumers related to the benefits of flat carbon steel, such as design freedom, high strength, and low maintenance and construction costs, will also benefit the overall market during the forecast period.
The rapid expansion of the construction industry is a major driver of the global flat carbon steel market during the study period. The market is also expanding as a result of increased construction and infrastructure investments and rising urbanization.
Growing investments in infrastructure development will drive the demand for the flat carbon steel market. Further, the rising use of EVs is likely to create various opportunities for the flat carbon steel market during the study period. On the contrary, the variable cost of crude materials may restrict the growth of the market during the study period.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the manufacturing industry experienced a substantial drop in terms of revenue. It was majorly due to the COVID-19 impact on the lives of the people. Moreover, this global emergency forced the units to halt their operations on a temporary basis, which lasted for more than a year in various countries. As a result, it hampered the growth of the flat carbon steel market. Moreover, the end-use industries of flat carbon steel, such as automotive, construction, mechanical equipment, etc., recorded sharp decline, which in turn impeded the demand for flat carbon steel.

Regional Analysis
The Asia-Pacific flat carbon steel market is forecast to grow at a substantial growth rate, owing to the presence of various developing economies expected to bring lucrative growth opportunities for the market. Further, favourable initiatives by government bodies for infrastructural development will contribute to the growth of the flat carbon steel market during the study period. The flat carbon steel market may experience substantial growth in the region due to the presence of one of the largest automotive sectors in the region.

Competitors in the Market
JSW
Nippon Steel & Sumitomo Metal Corporation
Dongkuk Steel
HYUNDAI STEEL
Dongbu Steel
EVRAZ plc
SAIL
Baosteel Group
Manshaan Steel
Other Prominent Players

Market Segmentation
The global flat carbon steel market segmentation focuses on Type, End-User, and Region.
By Type
Hot-rolled coils
Plates
Galvanized coils
Cold rolled coils
Others
By End-User
Building and Infrastructure
Automotive
Mechanical Equipment
Others
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America