Automotive Adhesives & Sealants Market Overview
Environmental Green Steel is eco-friendly steel produced using low-emission technologies that reduce environmental impact. Unlike traditional coal-based methods, it uses alternatives like electric arc furnaces, hydrogen reduction, or carbon capture systems. These methods significantly cut greenhouse gas emissions, making steel production more sustainable.
Market Value & Growth Projections
Market Value & Growth
Projections: • Market Value in 2024 : USD 3,870 million • Projected Value by 2031: USD 10,818.36 million • CAGR 12.10% (2024–2031) Key Market Drivers:
Decarbonization Mandates and Net-Zero Targets
Market Segmentation
By Type
Application
By Region
Construction
Automobile
Key Market Players
H2 Green Steel
HYBRIT
Arcelor Mittal
Swiss Steel Group
Regional Market Analysis
North America:
North America is witnessing significant advancements in green steel technology, particularly in the U.S. and Canada. With President Biden's Inflation Reduction Act providing tax incentives for clean energy and industrial decarbonization, domestic steel manufacturers are ramping up investment in hydrogen-based and electric arc furnace steelmaking.
Europe:
Europe remains a global leader in green steel innovation. Sweden's HYBRIT and H2 Green Steel have become pioneers in hydrogen-based steel production. Germany’s Salzgitter and Thyssenkrupp are also converting their blast furnaces to low-carbon alternatives. The EU’s Carbon Border Adjustment Mechanism (CBAM), set to take effect in 2026, further incentivizes the use of green steel by penalizing carbonintensive imports.
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