Summary

Introduction to Europe Sustainable (Recycled and Green) Steel Market

The Europe sustainable (recycled and green) steel market was valued at $94.09 billion in 2024 and is projected to grow at a CAGR of 5.31%, reaching $157.86 billion by 2034. The growing need for low-carbon construction materials and stringent environmental laws are driving this expansion. Technological developments in steel production, such as improved recycling procedures and hydrogen-based reduction techniques, are major factors driving the market. Furthermore, the European steel industry is becoming more carbon-conscious and sustainable as a result of strategic alliances and investments in green infrastructure projects.

Market Introduction

The market for sustainable steel in Europe is expanding as businesses move toward green, recycled, and low-carbon steel products to satisfy strict environmental standards and sustainability objectives. In order to lessen CO2 emissions and dependency on fossil fuels, this market includes carbon capture-integrated processes, bio-based steel production, green hydrogen-based steel (H2-DRI), and recycled steel (scrap-based production).

Steelmakers are being pushed toward more environmentally friendly options by major forces such as the European Green Deal, the Carbon Border Adjustment Mechanism (CBAM), and corporate net-zero targets. While investments in electric arc furnaces (EAFs) and direct reduced iron (DRI) technologies are driving market growth, the automotive, construction, and manufacturing industries are increasingly embracing sustainable steel to reduce their carbon footprint.

Despite its high growth potential, challenges such as high production costs, technological limitations, and the availability of green hydrogen impede rapid adoption. Nonetheless, a positive market environment is being created by encouraging policies, carbon pricing schemes, and rising end-user demand. Prominent firms like Voestalpine, SSAB, and Arcelor Mittal are making significant investments in environmentally friendly production techniques.

Due to innovation, regulatory support, and growing corporate commitments to green procurement, the sustainable steel market is expected to grow significantly as Europe approaches climate neutrality by 2050.

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
• Europe: Germany, Sweden, France, Italy, Spain, U.K., and Rest-of-Europe

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 Europe sustainable steel business is a high-investment and high-revenue generating model.

Growth/Marketing Strategy: The Europe 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 Europe 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 sustainable steel market 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:

• ArcelorMittal
• H2 green steel
• SSAB AB
• thyssenkrupp Steel Europe

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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 Europe
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 Europe (by Country)
2.3.6.1 Germany
2.3.6.1.1 Application
2.3.6.1.2 Product
2.3.6.2 Sweden
2.3.6.2.1 Application
2.3.6.2.2 Product
2.3.6.3 France
2.3.6.3.1 Application
2.3.6.3.2 Product
2.3.6.4 Italy
2.3.6.4.1 Application
2.3.6.4.2 Product
2.3.6.5 Spain
2.3.6.5.1 Application
2.3.6.5.2 Product
2.3.6.6 U.K.
2.3.6.6.1 Application
2.3.6.6.2 Product
2.3.6.7 Rest-of-Europe
2.3.6.7.1 Application
2.3.6.7.2 Product
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Next Frontiers
3.2 Geographic Assessment
3.3 Company Profiles
3.3.1 ArcelorMittal
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 H2 Green Steel
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 SSAB AB
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
3.3.3.5 Key Personnel
3.3.3.6 Analyst View
3.3.3.7 Market Share, 2023
3.3.4 thyssenkrupp Steel Europe
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
3.4 List of Other Key Sustainable Steel Manufacturers
3.4.1 LIBERTY Steel Group
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 Lech-Stahlwerke GmbH
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 voestalpine AG
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 Outokumpu
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 Blastr Green Steel AS
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: Europe 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: Europe Sustainable (Recycled and Green) Steel Market (by End-User Application), $Billion, 2023, 2026, and 2034
Figure 5: Europe Sustainable (Recycled and Green) Steel Market (by Product Type), $Billion, 2023, 2026, and 2034
Figure 6: Europe 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: Germany Sustainable Steel Market, $Billion, 2023-2034
Figure 18: Sweden Sustainable Steel Market, $Billion, 2023-2034
Figure 19: France Sustainable Steel Market, $Billion, 2023-2034
Figure 20: Italy Sustainable Steel Market, $Billion, 2023-2034
Figure 21: Spain Sustainable Steel Market, $Billion, 2023-2034
Figure 22: U.K. Sustainable Steel Market, $Billion, 2023-2034
Figure 23: Rest-of-Europe Sustainable Steel Market, $Billion, 2023-2034
Figure 24: Strategic Initiatives, 2022-2024
Figure 25: Share of Strategic Initiatives
Figure 26: Data Triangulation
Figure 27: Top-Down and Bottom-Up Approach
Figure 28: 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: Europe Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 9: Europe Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 10: Europe Sustainable Steel Market (by Product Type), $Billion, 2023-2034
Table 11: Europe Sustainable Steel Market (by Product Type), Million Tons, 2023-2034
Table 12: Europe Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 13: Europe Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 14: Europe Green Steel Market (by Technology), $Million, 2023-2034
Table 15: Europe Green Steel Market (by Technology), Kilo Tons, 2023-2034
Table 16: Germany Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 17: Germany Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 18: Germany Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 19: Germany Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 20: Sweden Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 21: Sweden Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 22: Sweden Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 23: Sweden Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 24: France Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 25: France Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 26: France Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 27: France Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 28: Italy Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 29: Italy Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 30: Italy Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 31: Italy Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 32: Spain Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 33: Spain Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 34: Spain Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 35: Spain Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 36: U.K. Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 37: U.K. Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 38: U.K. Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 39: U.K. Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 40: Rest-of-Europe Sustainable Steel Market (by End-User Application), $Billion, 2023-2034
Table 41: Rest-of-Europe Sustainable Steel Market (by End-User Application), Million Tons, 2023-2034
Table 42: Rest-of-Europe Sustainable Steel Market (by Technology), $Billion, 2023-2034
Table 43: Rest-of-Europe Sustainable Steel Market (by Technology), Million Tons, 2023-2034
Table 44: Market Share