Green Steel Market Poised for Remarkable Growth at 122.9% CAGR, Reaching US$47.2 Billion by 2030
The global green steel market is set to experience monumental growth, with an astounding CAGR of 122.9% during the assessment period from 2023 to 2030. By the end of 2030, the market is projected to reach an approximate market value of around US$47.2 billion.
Key Market Insights
Green steel represents a shift towards environmentally sustainable methods of steel production, aiming to reduce the carbon emissions typically associated with steel manufacturing. Traditional steel production relies heavily on coal-based processes, contributing to greenhouse gas emissions, particularly carbon dioxide. By adopting safer and more eco-friendly approaches to steel production, green steel seeks to address these environmental concerns. Increased investment in research, development, and implementation o...