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Title: Global Green Steel Market Report Analysis, Research Studies- JFE Steel Corporation, Nucor Corporation, Nippon Steel Corporation and SSAB
India, 17th Aug 2024 - The global green steel market is poised for an unprecedented expansion, with its size projected to grow at a compound annual growth rate (CAGR) of 142.3% over the forecast period from 2024 to 2031. Starting from a valuation of US$ 456.35 million in 2023, the market is expected to skyrocket to an astonishing US$ 513,409.32 million by 2031, driven by surging demand for low-carbon steel across diverse industries and increasing emphasis on sustainable production methods.Green Steel: The Future of Sustainable ManufacturingGreen steel, defined as steel produced through environmentally friendly and sustainable processes, represents a significant advancement in reducing the carbon footprint associated with traditional steel manufacturing. The green steel process typically involves lower resource consumption and reduced carbon emissions, making it a key player in the global transition towards a low-carbon economy.According to the World Steel Association, the global steel industry produced approximately 1,860 million tonnes of steel in 2020, leading to average daily emissions of 1.851 tonnes of CO2. These alarming figures have galvanized industries and governments worldwide to seek more sustainable alternatives, with green steel emerging as a crucial solution.Get a Free Sample Research PDF - https://www.datamintelligence.com/download-sample/green-steel-marketMarket Drivers: The Push for Low-Carbon Steel Across IndustriesThe automotive industry, particularly leading automakers such as General Motors, BMW, and others, has been at the forefront of adopting green steel. These companies are increasingly utilizing low-carbon and recycled steel in their manufacturing processes, setting a trend that is likely to have a profound impact on the future demand for green...
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