China Steel Market to Reach USD 480 Billion by 2034, Growing at...

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2026-08-05 10:49:15 -

China Steel Market to Reach USD 480 Billion by 2034, Growing at 3.6% CAGR

Global steel production in China reached 1.03 billion tonnes in 2022, accounting for 56% of worldwide output. The domestic steel market was valued at USD 350 billion in 2025 and is projected to climb to USD 480 billion by 2034, reflecting a CAGR of 3.6% over the forecast period. Steel is an alloy primarily composed of iron and carbon, offering high tensile strength, durability, and...

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