Summary

Introduction to Asia-Pacific Sustainable (Recycled and Green) Steel Market

The Asia-Pacific sustainable (recycled and green) steel market was valued at $175.68 billion in 2024 and is projected to grow at a CAGR of 10.15%, reaching $461.80 billion by 2034. The APAC market is expanding due to stringent environmental regulations and rising demand for low-carbon building materials. Technological developments in steel production, such as improved recycling procedures and hydrogen-based reduction techniques, are important factors. Additionally, through strategic alliances and investments in green infrastructure projects, the APAC steel industry is growing more carbon-conscious and sustainable.

Market Introduction

The market for sustainable (recycled and green) steel in Asia is expanding significantly due to the growing need for eco-friendly building materials and the growing pressure to comply with strict environmental regulations. The use of recycled and green steel is emerging as a crucial way to lower carbon emissions and advance the ideas of the circular economy as the region's industries—such as infrastructure, automotive, and construction—move toward more environmentally friendly operations.
Technological developments in steel production, like hydrogen-based reduction methods and enhanced recycling strategies, are major drivers of the market's growth. As nations like China, South Korea, and Japan invest in green steel production projects, hydrogen-based steel production—which provides a low-carbon substitute for conventional methods—is becoming more and more popular.

The demand for sustainable steel is being further accelerated by the APAC steel industry's large investments in green infrastructure projects. Governments are encouraging these efforts by lowering carbon footprints through regulations, subsidies, and supportive policies.

The APAC sustainable steel market is expected to continue expanding as the need for environmentally friendly building materials rises. In order to help the region meet its sustainability goals and propel the shift to a low-carbon future, green steel production will be essential.

Market Segmentation

Segmentation 1: by End-User Application
• Transportation
• Building and Construction
• Furniture and Appliances
• Mechanical Equipment and Tools
• Packaging
• Others

Segmentation 2: by Product Type
• Recycled Steel
• Green Steel

Segmentation 3: by Technology
• Sustainable Steel
o Electric Arc Furnace (EAF)
o Blast Furnace-Basic Oxygen Furnace (BF-BOF)
o Others
• Green Steel
o Electric Arc Furnace (EAF)
• Renewable – Electric Arc Furnace (R-EAF)
• Hydrogen Direct Reduced Iron – Electric Arc Furnace (H2 DRI-EAF)
o Others

Segmentation 4: by Region
• Asia-Pacific: China, Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different applications of the sustainable steel products available based on application (transportation, building and construction, furniture and appliances, mechanical equipment and tools, packaging, and others), product type (recycled steel and green steel), technology type (electric arc furnace (EAF), blast furnace-basic oxygen furnace (BF-BOF), and others. The market is poised for significant expansion with ongoing technological advancements, increased investments, and growing awareness of the importance of sustainable steel. Therefore, the Asia-Pacific sustainable steel business is a high-investment and high-revenue generating model.

Growth/Marketing Strategy: The Asia-Pacific sustainable steel market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product development.

Competitive Strategy: The key players in the Asia-Pacific sustainable steel market analyzed and profiled in the study include manufacturers and recyclers. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled in the report have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names in the sustainable steel market are:

• HBIS GROUP
• NIPPON STEEL CORPORATION
• POSCO
• Tata Steel
• China Baowu Steel Group Corporation Limited

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Table of Contents

Executive Summary
Scope and Definition
1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Circular Economy and Recycling
1.1.2 Technological Advancements and Rising Research and Developments
1.1.3 Carbon Capture and Emission Reduction
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.2 Market Map
1.2.3 Pricing Forecast
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Number of Patents, Country)
1.4 Regulatory Landscape
1.5 Impact Analysis for Key Global Events- COVID-19 Pandemic, Russia/Ukraine War, or Middle East Crisis on Sustainable (Recycled and Green) Steel Market
1.5.1 COVID-19 Pandemic
1.5.2 Russia/Ukraine War or Middle East Crisis
1.6 Market Dynamics Overview
1.6.1 Market Drivers
1.6.1.1 Construction Industry's Shift toward Sustainable Materials
1.6.1.2 Government Regulations and Net-Zero Targets
1.6.1.3 Use of Renewable Energy Sources in Steel Production
1.6.2 Market Restraints
1.6.2.1 Limited Availability of Green Technologies and Infrastructure for Sustainable Steel Production
1.6.2.2 High Cost Associated with Implementing Green Steel Production Methods
1.6.3 Market Opportunities
1.6.3.1 Increasing Demand for Sustainable Infrastructure and Green Construction Projects
1.6.3.2 Rising Collaborations between Steel Producers and End Users
1.7 List of Key Steel Manufacturers and Their Net-Zero Targets
1.8 Start-Up Landscape
1.8.1 Key Start-Ups in the Ecosystem
1.9 Global Green Steel Projects and Developments
2 Regions
2.1 Regional Summary
2.2 Drivers and Restraints
2.3 Asia-Pacific
2.3.1 Regional Overview
2.3.2 Driving Factors for Market Growth
2.3.3 Factors Challenging the Market
2.3.4 Application
2.3.5 Product
2.3.6 Asia-Pacific (by Country)
2.3.6.1 China
2.3.6.1.1 Application
2.3.6.1.2 Product
2.3.6.2 Japan
2.3.6.2.1 Application
2.3.6.2.2 Product
2.3.6.3 South Korea
2.3.6.3.1 Application
2.3.6.3.2 Product
2.3.6.4 India
2.3.6.4.1 Application
2.3.6.4.2 Product
2.3.6.5 Australia
2.3.6.5.1 Application
2.3.6.5.2 Product
2.3.6.6 Rest-of-Asia-Pacific
2.3.6.6.1 Application
2.3.6.6.2 Product
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Next Frontiers
3.2 Geographic Assessment
3.3 Company Profiles
3.3.1 HBIS GROUP
3.3.1.1 Overview
3.3.1.2 Top Products/Product Portfolio
3.3.1.3 Top Competitors
3.3.1.4 Target Customers/End Users
3.3.1.5 Key Personnel
3.3.1.6 Analyst View
3.3.1.7 Market Share, 2023
3.3.2 NIPPON STEEL CORPORATION
3.3.2.1 Overview
3.3.2.2 Top Products/Product Portfolio
3.3.2.3 Top Competitors
3.3.2.4 Target Customers
3.3.2.5 Key Personnel
3.3.2.6 Analyst View
3.3.2.7 Market Share, 2023
3.3.3 POSCO
3.3.3.1 Overview
3.3.3.2 Top Products/Product Portfolio
3.3.3.3 Top Competitors
3.3.3.4 Target Customers/End Users
3.3.3.5 Key Personnel
3.3.3.6 Analyst View
3.3.3.7 Market Share, 2023
3.3.4 Tata Steel
3.3.4.1 Overview
3.3.4.2 Top Products/Product Portfolio
3.3.4.3 Top Competitors
3.3.4.4 Target Customers/End Users
3.3.4.5 Key Personnel
3.3.4.6 Analyst View
3.3.4.7 Market Share, 2023
3.3.5 China Baowu Steel Group Corporation Limited
3.3.5.1 Overview
3.3.5.2 Top Products/Product Portfolio
3.3.5.3 Top Competitors
3.3.5.4 Target Customers/End Users
3.3.5.5 Key Personnel
3.3.5.6 Analyst View
3.3.5.7 Market Share, 2023
3.4 List of Other Key Sustainable Steel Manufacturers
3.4.1 SAIL
3.4.1.1 Overview
3.4.1.2 Top Products/Product Portfolio
3.4.1.3 Top Competitors
3.4.1.4 Target Customers/End Users
3.4.1.5 Key Personnel
3.4.1.6 Analyst View
3.4.1.7 Market Share, 2023
3.4.2 JSW
3.4.2.1 Overview
3.4.2.2 Top Products/Product Portfolio
3.4.2.3 Top Competitors
3.4.2.4 Target Customers/End Users
3.4.2.5 Key Personnel
3.4.2.6 Analyst View
3.4.2.7 Market Share, 2023
3.4.3 Ansteel Group Corporation Limited
3.4.3.1 Overview
3.4.3.2 Top Products/Product Portfolio
3.4.3.3 Top Competitors
3.4.3.4 Target Customers/End Users
3.4.3.5 Key Personnel
3.4.3.6 Analyst View
3.4.3.7 Market Share, 2023
3.4.4 ScrapBuk
3.4.4.1 Overview
3.4.4.2 Top Products/Product Portfolio
3.4.4.3 Top Competitors
3.4.4.4 Target Customers/End Users
3.4.4.5 Key Personnel
3.4.4.6 Analyst View
3.4.4.7 Market Share, 2023
3.4.5 Element Zero
3.4.5.1 Overview
3.4.5.2 Top Products/Product Portfolio
3.4.5.3 Top Competitors
3.4.5.4 Target Customers/End Users
3.4.5.5 Key Personnel
3.4.5.6 Analyst View
3.4.5.7 Market Share, 2023
4 Research Methodology
4.1 Data Sources
4.1.1 Primary Data Sources
4.1.2 Secondary Data Sources
4.1.3 Data Triangulation
4.2 Market Estimation and Forecast

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List of Tables/Graphs

List of Figures
Figure 1: Asia-Pacific Sustainable (Recycled and Green) Steel Market (by Scenario), $Billion, 2023, 2026, and 2034
Figure 2: Sustainable (Recycled and Green) Steel Market (by Region), $Billion, 2023, 2026, and 2034
Figure 3: Sustainable (Recycled and Green) Steel Market, Pricing Analysis (by Region), $/Ton, 2023, 2026, and 2034
Figure 4: Asia-Pacific Sustainable (Recycled and Green) Steel Market (by End-User Application), $Billion, 2023, 2026, and 2034
Figure 5: Asia-Pacific Sustainable (Recycled and Green) Steel Market (by Product Type), $Billion, 2023, 2026, and 2034
Figure 6: Asia-Pacific Sustainable (Recycled and Green) Steel Market (by Technology), $Billion, 2023, 2026, and 2034
Figure 7: Key Events
Figure 8: Crude Steel Production and Steel Scrap Consumption, Million Tons, January 2023 to July 2023
Figure 9: Steel-Produced by Key Manufacturers, Million Tons, 2021-2022
Figure 10: Tons of CO2 Emissions Per Ton Crude Steel Production as Cast, 2019-2022
Figure 11: Supply Chain and Risks within the Supply Chain
Figure 12: Value Chain Analysis
Figure 13: Patent Analysis (by Number of Patents), January 2020-December 2023
Figure 14: Patent Analysis (by Country), January 2020-December 2023
Figure 15: Impact Analysis of Market Navigating Factors, 2023-2034
Figure 16: Green Steel Projects by Key Manufacturers
Figure 17: China Sustainable Steel Market, $Billion, 2023-2034
Figure 18: Japan Sustainable Steel Market, $Billion, 2023-2034
Figure 19: South Korea Sustainable Steel Market, $Billion, 2023-2034
Figure 20: India Sustainable Steel Market, $Billion, 2023-2034
Figure 21: Australia Sustainable Steel Market, $Billion, 2023-2034
Figure 22: Rest-of-Asia-Pacific Sustainable Steel Market, $Billion, 2023-2034
Figure 23: Strategic Initiatives, 2022-2024
Figure 24: Share of Strategic Initiatives
Figure 25: Data Triangulation
Figure 26: Top-Down and Bottom-Up Approach
Figure 27: Assumptions and Limitations
List of Tables
Table 1: Market Snapshot
Table 2: Opportunities across Region
Table 3: Competitive Landscape Snapshot
Table 4: Trends Overview
Table 5: Sustainable (Recycled and Green) Steel Market Pricing Forecast (by Region), $/Ton, 2023-2034
Table 6: Key Regulations/Initiatives in Different Regions toward Net-Zero Emissions
Table 7: Sustainable (Recycled and Green) Steel Market (by Region), $Billion, 2023-2034
Table 8: Asia-Pacific Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 9: Asia-Pacific Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 10: Asia-Pacific Sustainable Steel Market (by Product Type), $Billion, 2023-2034
Table 11: Asia-Pacific Sustainable Steel Market (by Product Type), Million Tons, 2023-2034
Table 12: Asia-Pacific Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 13: Asia-Pacific Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 14: Asia-Pacific Green Steel Market (by Technology), $Million, 2023-2034
Table 15: Asia-Pacific Green Steel Market (by Technology), Kilo Tons, 2023-2034
Table 16: China Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 17: China Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 18: China Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 19: China Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 20: Japan Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 21: Japan Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 22: Japan Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 23: Japan Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 24: South Korea Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 25: South Korea Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 26: South Korea Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 27: South Korea Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 28: India Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 29: India Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 30: India Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 31: India Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 32: Australia Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 33: Australia Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 34: Australia Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 35: Australia Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 36: Rest-of-Asia-Pacific Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 37: Rest-of-Asia-Pacific Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 38: Rest-of-Asia-Pacific Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 39: Rest-of-Asia-Pacific Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 40: Market Share