North America's Carbon Steel Market Poised for a 4.9% CAGR Expansion by 2033

The latest analysis shows North America carbon steel industry revenue is forecast to increase from US$ 78.1 billion in 2023 to US$ 125.6 billion by 2033. Over the assessment period, demand for carbon steel in North America is projected to surge at a CAGR of 4.9%.
The low carbon content steel segment is set to account for a dominant value share of 60.7% in 2023 and exhibit a CAGR of 4.9% throughout the assessment period. This is attributable to the rising usage of low carbon steel in diverse businesses due to its low cost, machinability, and corrosion resistance.
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Electrical Steel Market Anticipated to Achieve 6.5% CAGR, Exceeding US$ 44.3 Billion by 2033

The electrical steel market is estimated at US$ 42,135.7 million in 2023, with a projected value of US$ 44,326.7 million by 2033. The demand for electrical steel is expected to rise at a CAGR of 6.5% from 2023 to 2033. The electrical steel industry is propelled by the increasing demand for electricity across various sectors, including energy, automotive, and manufacturing.
The emphasis on energy efficiency and the rapid expansion of the renewable energy sector contribute to the heightened demand for electrical steel products. Moreover, the ongoing advancements in electrical infrastructure, such as the modernization of power grids and the development of smart cities, bolstered the need for high-quality electrical steel.
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Bromine Derivative Market Projected to Reach US$ 6.71 Billion by 2033 with a 3.9% CAGR | #bromine Derivative Market