Flat carbon steel is obtained when the major alloying element used in steel production is carbon. Several flat carbon steel products such as plates, hot-rolled coils, cold rolled coils, and galvanized coils are available in the market. Hot-rolled coils is a highly attractive product segment of the flat carbon steel market. Hot-rolled sheets are suitable for use in automobiles and electric appliances owing to their strength and durability.

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The market in Asia Pacific is expected to expand at a significant CAGR during the forecast period, owing to growth of construction and automotive industries and presence of prominent players in the region. Additionally, increasing exports of flat carbon steel from developing countries such as India is driving the market in the region. The flat carbon steel market in North America and Europe is expected to expand at a rapid pace during the forecast period, owing to rise in automotive production output and government initiatives for repair and refurbishment activities in the construction sector.Among applications, building & construction was a prominent segment in 2017 and it is expected to expand at a significant pace during the forecast period, due to high demand for sustainable, durable, and cost-effective materials.

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Rapid industrialization, increase in investments in infrastructure, and rise in global population are major factors driving the building & construction segment of the global market. Machine manufacturing is a lucrative application segment of the flat carbon steel market. Companies have been trying to improve competitiveness by optimizing existing processes and developing new processes to reduce the environmental impact, improve quality, and reduce costs. Key players operating in the global flat carbon steel market include ArcelorMittal S.A., Baosteel Group, NSSMC Group, POSCO Steel, JFE Steel Corporation, and Nucor Corporation.

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Companies are continuously adopting the strategy of enhancing their geographical footprint through capacity expansion, introduction of new products, and expansion of end-use portfolios. For instance, in 2017, Zhanjiang Iron & Steel Co., Ltd, a subsidiary of Baowu Steel Group Corporation Limited, opened its production line for special silicon steel and carbon steel. This would help the company increase its production capacity and serve its customers in a better manner in the next few years. Production of flat carbon steel is highly capital-intensive, which creates high entry barriers for new entrants. High production costs result in high costs of end-products and relatively low profitability.The report analyzes and forecasts the market for flat carbon steel at the global and regional levels. The market has been forecast in terms of volume (Million Tons) and revenue (US$ Bn) from 2018 to 2026. The study includes drivers and restraints for the global flat carbon steel market.