Market Dynamics:
Rising infrastructure development activities across both developed and emerging economies is expected to drive the demand for carbon steel over the forecast period. According to World Bank, the global infrastructure investment is forecasted to grow 85% to hit USD 94 trillion by 2040. Growing population and urbanization are augmenting the demand for residential and commercial construction along with public infrastructure such as roads, bridges etc. which will augment the carbon steel consumption. Additionally, strong growth in automotive production is also projected to fuel the carbon steel market growth. However, availability of substitutes such as stainless steel and aluminum at competitive prices may hamper the market growth during the forecast period.

Key Takeaways
The Global Carbon Steel Market Size is expected to witness high growth, exhibiting CAGR of 3.6% over the forecast period, due to increasing demand from infrastructure and construction industries. Rapid urbanization and government investment in infrastructure development across developing nations will drive volume growth in coming years.

Read More: https://newsinsights123.blogspot.com/2023/12/autonomous-vehicles-are-fastest-growing.html