Asia-Pacific Sustainable Steel Market Report 2023: A $153 Billion Industry by 2031 - Increasing Demand for Green Steel across the Value Chain

Dublin, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The "Asia-Pacific Sustainable Steel Market - Analysis and Forecast, 2022-2031" report has been added to'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 AttributeDetails
No. of Pages103
Forecast Period2022 - 2031
Estimated Market Value (USD) in 2022$68.4 Billion
Forecasted Market Value (USD) by 2031$153.4 Billion
Compound Annual Growth Rate9.4%
Regions CoveredAsia Pacific

Industry Outlook

  • Trends: Current and Future
  • Rising Investments in Green Technologies
  • Change in Business Models of Companies due to Climate Action
  • Supply Chain Analysis
  • Impact of COVID-19 on the Sustainable Steel Market
  • Impact of Russia and Ukraine War on the Sustainable Steel Market
  • Ecosystem/Ongoing Programs
  • Associations

Business Dynamics

Business Drivers

  • Stringent Regulations and Carbon Neutrality Targets
  • Energy and Cost Efficiency owing to the Use of Recycled Steel
  • Significant Increase in Steel Demand with Scarcity of Raw Materials and Energy

Business Challenges

  • Impurities due to Incomplete Separation and Complex Product Design
  • High Infrastructure Cost and Green Hydrogen Prices Curbing the Green Steel Developments

Business Strategies

  • Market Developments
  • Product Developments

Corporate Strategies

  • Partnerships, Acquisitions, Collaborations, and Joint Ventures

Business Opportunity

  • Increasing Demand for Green Steel across the Value Chain
  • Development of Economic and Environmental Technologies

Start-Up Landscape

  • Key Start-Ups in the Ecosystem

Patent Analysis

  • Patent Analysis (by Status)
  • Patent Analysis (by Leading Countries)

Global and Regional Level: Average Pricing Analysis

Global Green Steel Projects and Developments

Competitive Benchmarking & Company Profiles

  • HBIS Group
  • NIPPON Steel Corporation
  • Tata Steel
  • ScrapBuk

Market Segmentation

End-Use Application

  • Transportation
  • Building and Construction
  • Furniture and Appliances
  • Packaging
  • Others


  • Electric Arc Furnace (EAF)
  • Blast Furnace-Basic Oxygen Furnace (BF-BOF)
  • Others


  • Japan
  • India
  • South Korea
  • Rest-of-Asia Pacific

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Asia-Pacific Sustainable Steel Market

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