Introduction

Carbon steel round bars have carbon content up to 2.1% by weight. They are used as solid support structures in construction sectors and are mainly used in bridges, dams, flyovers, apartments, homes, and industrial structures. They are also widely used in making shafts, axles, braces, bath fittings, and machined components. Carbon steel round bars made from low carbon steel known as wrought iron are used in making fences, gates, and railings.

.Global Carbon Steel Round Bar Market: Trends & Developments

The Government of India’s vision of ‘Make in India’ to provide preference to domestically manufactured iron & steel products and encourage domestic manufacturing is expected to have a positive impact on the domestic carbon steel round bar market in India. World Steel Association has projected Indian steel demand to grow by 7.3% in 2019 while globally, steel demand has been projected to grow at a sluggish rate of 1.4% in 2019. The globally rising demand for steel products and the growing per capita finished steel consumption is expected to drive the global carbon steel round bar market during the forecast period.

Global Carbon Steel Round Bar Market: Segmentation

Based on composition, the global carbon steel round bar market can be segmented into low carbon steel, medium carbon steel, high carbon steel, and ultra-high carbon steel. Low carbon steel round bars have 0.04–0.3% carbon content and are the most common grade of carbon steel round bars used globally. Low carbon steel bars are ductile and highly formable, and hence are used in manufacturing automobile parts, fasteners, plates, and wire products. Low carbon steel round bars with manganese as an alloying element are used in manufacturing products, for instance, seamless tubes and boiler plates. Medium carbon steel round bars have 0.31–0.6% carbon content and are mainly used to manufacture end products such as shafts, axles, gears, rails, and railway wheels. High carbon steel round bars have 0.6–1% carbon content. Properties of high carbon steel makes them suitable for manufacturing springs, saw blades, cold chisels, wrenches, jaws for vices, edged tools, and high-strength wires. Ultra-high carbon steel round bars have 1.25–2% carbon content and are useful for manufacturing knives, axles, pneumatic drill bits, punches etc.

Global Carbon Steel Round Bar Market: Regional Outlook

In terms of region, the global carbon steel round bar market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is forecasted to dominate the global carbon steel round bar market in terms of consumption due to rapid industrialization and growing urban infrastructure. In Asia Pacific, China is expected to lead the carbon steel round bar market in terms of consumption due to a number of major automobile manufacturers and general industries shifting their production base to China. The liberalization of industrial policy and other initiatives undertaken by the Government of India have facilitated the entry, participation, and growth of the private sector in the steel industry. While the existing steel units are being modernized and expanded, a large number of new steel plants have also come up in different parts of the country based on modern, cost effective, state of-the-art technologies. The Indian market for carbon steel round bars is expected to grow at a significant CAGR during the forecast period due to industrialization and growing per capita finished carbon steel consumption.

Global Carbon Steel Round Bar Market: Key Players

Key players operating in the global carbon steel round bar market include ArcelorMittal SA, BGH Edelstahlwerke GmbH, Celsa Group, AK Steel Corp, Anshan Iron & Steel (Group) Corp, Al-Ittefaq Steel Products Co, BlueScope Steel Ltd, PT Bhirawa Steel, China Steel Corp, China Baowu Steel Group Co Ltd., Kalyani Steels Ltd., Micro Metal, and A TO Z STEELLOYS PVT LTD.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Carbon Steel Round Bar Market

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