US Green Steel Market Size

ID: MRFR/CnM/12428-HCR

111 Pages

Chitranshi Jaiswal

September 2025

US Green Steel Market Research Report Information By Production Technology (Renewable – Electric Arc Furnace (R-EAF), Hydrogen Direct Reduced Iron (DRI) – EAF, and Molten Oxide Electrolysis (MOE)), By Application (Building & Construction, Automotive, Renewable Energy Infrastructure, Home Appliances, and Others), - Market Forecast Till 2034.

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Us Green Steel Size

US Green Steel Market Growth Projections and Opportunities

The US Green Steel Market is influenced by a combination of market factors that collectively shape its growth and trajectory. A significant driver is the increasing emphasis on sustainability and the transition towards a low-carbon economy. Green steel, produced using environmentally friendly technologies with reduced carbon emissions, aligns with the global commitment to address climate change. As industries strive to reduce their carbon footprint, there is a growing demand for green steel as a cleaner and more sustainable alternative to traditional steel production methods, driving the development of the green steel market in the US. US Green Steel Market Size was valued at USD 0.7 Billion in 2022. The green steel industry is projected to grow from USD 1.17 Billion in 2023 to USD 31.055 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 50.50% Government policies and regulatory frameworks play a pivotal role in shaping the US Green Steel Market. The implementation of carbon reduction targets, emission standards, and incentives for sustainable practices create a favorable environment for the adoption of green steel technologies. Government support in the form of grants, subsidies, and tax incentives encourages the steel industry to invest in green technologies, accelerating the transition towards more sustainable steel production processes in the United States. Technological advancements in green steel production contribute significantly to market dynamics. Innovations such as hydrogen-based direct reduction and electric arc furnaces powered by renewable energy sources are transforming the steel manufacturing landscape. These technologies not only reduce carbon emissions but also enhance energy efficiency, positioning green steel as a viable and competitive option in the market. Continuous research and development efforts are key to unlocking the full potential of green steel technologies and expanding their application across the industry. Market dynamics are influenced by the construction and infrastructure sectors, which are major consumers of steel products. The demand for sustainable and eco-friendly construction materials has led to an increased interest in green steel. As architects, builders, and infrastructure developers prioritize environmentally responsible choices, the use of green steel in construction projects becomes a key factor in the market's growth. The construction industry's commitment to green building practices drives the adoption of green steel as a preferred material in structural and architectural applications. Investments in renewable energy projects contribute to the growth of the US Green Steel Market. The integration of renewable energy sources, such as solar and wind power, into steel production processes further reduces the carbon footprint of the industry. Steel manufacturers leveraging clean energy solutions not only contribute to the decarbonization of the sector but also position themselves as environmentally responsible entities in the market. Market competition and industry collaborations play a crucial role in advancing the green steel market. The presence of both traditional and emerging steel producers fosters a competitive landscape. Collaborations between steel manufacturers, technology providers, and research institutions facilitate the development and deployment of green steel technologies. Partnerships across the industry supply chain contribute to knowledge exchange, innovation, and the overall advancement of green steel solutions. Global economic conditions and trade dynamics impact the US Green Steel Market. As a globally traded commodity, green steel is subject to international market forces, trade agreements, and geopolitical events. Factors such as trade tariffs, trade alliances, and shifts in global demand can influence the accessibility and cost competitiveness of green steel in the US market. Challenges related to scalability, cost-effectiveness, and infrastructure development for green steel technologies are factors that the industry must address. While green steel offers significant environmental benefits, the scalability of production processes and the economic viability of large-scale adoption remain critical considerations. Infrastructure development, including the establishment of hydrogen production and storage facilities, is essential for realizing the full potential of green steel technologies in the United States.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

The US Green Steel market is poised for substantial growth, projected to reach 4190 USD Million by 2035.

Key Market Trends & Highlights

US Green Steel Key Trends and Highlights

The market valuation is expected to grow from 349.2 USD Million in 2024 to 4190 USD Million by 2035.
The compound annual growth rate (CAGR) for the US Green Steel market is estimated at 25.34% from 2025 to 2035.
This rapid expansion indicates a strong demand for sustainable steel production methods in the United States.
Growing adoption of green steel technologies due to increasing environmental regulations is a major market driver.

US Green Steel Market

CAGR

25.34%

Market Size & Forecast

2024 Market Size	349.2 (USD Million)
2035 Market Size	4190 (USD Million)
CAGR (2025-2035)	25.34%
Largest Regional Market Share in 2024	latin_america)

Major Players

Clearway Energy, Nucor, ClevelandCliffs, Steel Dynamics, U.S. Steel, Recycling Technologies, Novelis, American Iron and Steel Institute, Alcoa, Enviva, ARC Resources, Ceres Global Ag Corp, Siemens

Market Trends

The US Green Steel Market is experiencing significant growth driven by various factors, primarily the increasing focus on sustainability and environmental regulations. The government has been imposing stricter emissions standards, encouraging the steel industry to adopt cleaner production methods. This creates a strong market driver as companies seek to meet compliance requirements while reducing their carbon footprint.

Additionally, the rise of the circular economy is pushing for the use of recycled materials, further driving the shift towards green steel production in the US, making it an attractive option for manufacturers looking to enhance their sustainability profiles.Opportunities in the US Green Steel Market are growing as more industries are beginning to prioritize sustainable materials in their supply chains. Initiatives aimed at infrastructure development, such as renewable energy projects and eco-friendly buildings, are also creating demand for greener steel products.

The decision by several automakers and construction firms to commit to sustainability goals opens new avenues for green steel manufacturers, allowing a blend of traditional steel production with innovative, eco-friendly technologies. In recent times, strategic partnerships and collaborations among steelmakers, technology providers, and research institutions have become a prominent trend, assisting in the development of alternative production methods.The increase in public and private investments aimed at advancing research in carbon capture and innovative steelmaking processes is notable. Furthermore, consumer awareness regarding sustainability is driving demand among end-users, influencing design choices that align with green practices.

Overall, the transition to greener alternatives is distinctly shaping the US Green Steel Market, reflecting a broader trend towards sustainability that is likely to continue in the future.

US Green Steel Market Market Drivers

Market Segment Insights

Green Steel Market Method of Production Insights

The US Green Steel Market is undergoing significant transformation, particularly in the Method of Production segment, which is essential for the shift towards sustainable steel manufacturing. Among the different methods embraced, Hydrogen-Based Reduction is gaining traction as it employs hydrogen instead of carbon to reduce iron ore into iron, drastically lowering carbon emissions.

This method is becoming pivotal as the US moves to comply with stricter environmental regulations and aims for substantial reductions in greenhouse gas emissions by 2030.Similarly, Electrolysis is emerging as a revolutionary approach, utilizing electricity to separate iron from ore, which ideally allows for a zero-emission output when renewable energy sources power the process. The appeal of this method lies in its potential to transform the industry, driven by advances in clean energy technologies and the growing investment in Research and Development. Biomass Direct Reduction is also noteworthy, where biomass acts as a reducing agent instead of traditional fossil fuels.

This innovation aligns with the government’s push towards utilizing renewable resources and reducing reliance on hydrocarbons, reflecting the importance of sustainable practices within the market.Lastly, Recycling is a fundamental aspect of the US Green Steel Market, as it not only conserves raw materials but also reduces energy consumption and emissions significantly compared to primary steel production. The circular economy model has become crucial for many steel producers in the US, enhancing their operational sustainability while addressing resource scarcity.

Each of these methods contributes distinctly to the US Green Steel Market, reflecting an industry in transition towards more eco-friendly practices driven by environmental imperatives and regulatory frameworks that foster innovation and sustainability.The evolution of the Method of Production within the US Green Steel Market segment illustrates the commitment to reducing carbon footprints and improving overall production efficiency, responding not only to consumer demand but also to global sustainability pressures.

The continuous adaptation of these methods is crucial for achieving the ambitious climate targets set forth by both the industry and federal mandates, as the landscape of steel manufacturing evolves to meet the needs of an environmentally conscious economy.

Green Steel Market End Use Industry Insights

The US Green Steel Market is making significant strides within various end use industries, positioning itself as a critical player in sustainable development. The construction sector showcases a growing preference for green steel, driven by stringent regulations and a commitment to reducing carbon footprints; this results in a shift towards eco-friendly materials for building infrastructure.

In automotive, the transition to green steel supports manufacturers in meeting emission standards while appealing to environmentally conscious consumers, ensuring a competitive edge.Similarly, the manufacturing domain is witnessing innovations that incorporate green steel to enhance production efficiency and sustainability, amplifying the industry's overall contribution to environmental goals. The energy sector plays a pivotal role as well, with renewable energy projects increasingly employing green steel to build sustainable energy solutions.

These sectors collectively highlight not only the market's dynamism but also the rising demand for environmentally responsible materials, paving the way for growth opportunities and advancements in technology aimed at promoting recycling and reducing emissions within the US Green Steel Market.This segmentation underlines the increasing integration of sustainability practices across industries, making green steel a cornerstone of modern economic strategies.

Green Steel Market Form Insights

The US Green Steel Market is experiencing significant growth, particularly in the Form segment, which includes classifications such as Flat Steel, Long Steel, and Steel Products. Flat Steel, utilized extensively in manufacturing and construction, plays a crucial role in reducing carbon footprints and enhancing sustainability practices, aligning with increasing regulations and demand for environmentally-friendly products.

Long Steel, essential for structural applications and reinforcing materials, is seeing heightened demand as the construction sector pivots towards more sustainable practices, supported by governmental initiatives promoting green infrastructure.Steel Products encompass an array of items that are vital in numerous industries, including automotive and consumer goods, reflecting a shift towards greener alternatives. This segment has become increasingly significant as industries strive to adopt cleaner technologies, enabling them to fulfill corporate social responsibility goals while also maximizing efficiency amidst rising costs.

Overall, the diversification within the Form segment reflects broader trends in the US Green Steel Market, driven by a combination of policy incentives, technological advancements, and a growing consumer preference towards sustainable steel solutions.

Green Steel Market Quality Grade Insights

The US Green Steel Market is expected to grow significantly, with the Quality Grade segment playing a crucial role in this expansion. This segmentation includes High Strength Steel, Low Alloy Steel, and Stainless Steel, each contributing uniquely to the overall market development. High Strength Steel is particularly valued in the automotive and construction industries for its enhanced performance and weight reduction capabilities, aligning with sustainable practices.

Low Alloy Steel, renowned for its excellent mechanical properties, is essential in manufacturing applications that require durability along with lower emissions.Stainless Steel offers corrosion resistance, making it a popular choice in various applications including infrastructure and consumer goods, thereby promoting longer product lifespans. Collectively, these materials reflect a shift towards eco-friendly production methods, driven by growing demand for sustainable construction and automotive solutions. The US Green Steel Market segmentation showcases innovative practices that support environmental targets and position the industry favorably against global markets, capturing the attention of manufacturers and consumers alike who prioritize sustainability in their supply chain decisions.

Get more detailed insights about US Green Steel Market Research Report - Forecast by 2035

Regional Insights

Key Players and Competitive Insights

The US Green Steel Market is rapidly evolving, driven by increased environmental awareness, government regulations, and the urgent need for sustainable manufacturing practices. As the steel industry seeks to minimize its carbon footprint, innovations in technology and production methods are gaining prominence. Key players in the market are focusing on renewable energy sources, recycling initiatives, and low-carbon technologies to align themselves with consumer demand for greener products. The competitive landscape is characterized by established steel manufacturers and new entrants, all vying to capture market share in this emerging segment while also addressing regulatory challenges and sustainability goals.

Clearway Energy is strategically positioned in the US Green Steel Market, leveraging its extensive experience in renewable energy solutions. Their strengths lie in their ability to provide reliable, clean energy that supports the decarbonization of steel production processes. By investing in wind and solar power projects, Clearway Energy can enhance the sustainability of its operations while reducing reliance on fossil fuels.

The company’s commitment to sustainable practices contributes positively to its competitive advantage in the green steel sector, allowing it to serve a growing customer base that prioritizes environmental responsibility.Nucor is a leading force in the US Green Steel Market, recognized for its innovative recycling practices and use of electric arc furnaces, which significantly reduce greenhouse gas emissions compared to traditional steel production methods. The company offers a variety of steel products, including rebar, sheet steel, and plates, catering to diverse industry needs while promoting sustainability.

Nucor is notable for its robust presence across the country, with multiple manufacturing facilities dedicated to producing green steel. Its strengths lie in technological advancements, efficient operations, and a culture that prioritizes environmental stewardship. Additionally, Nucor has engaged in strategic mergers and acquisitions to bolster its market position, enhancing its capabilities in producing eco-friendly steel solutions tailored to the demands of the US market.

Key Companies in the US Green Steel Market market include

Industry Developments

The US Green Steel Market has experienced significant developments recently, particularly with an emphasis on sustainability and carbon reduction. Companies like Nucor and Steel Dynamics have ramped up investments in green technologies, focusing on electric arc furnace steel production, which drastically lowers carbon emissions compared to traditional blast furnace methods. In September 2023, U.S. Steel announced plans to enhance its electric arc furnace capabilities, aligning with its commitment to reduce carbon emissions by 20% by 2030. Alcoa, recognized for its innovations in low-carbon aluminum production, is also exploring synergies between aluminum and steel manufacturing for enhanced sustainability.

Regarding mergers and acquisitions, in August 2023, ClevelandCliffs completed its acquisition of a significant Ohio steel facility, which aims to bolster its position in the green steel sector. Meanwhile, Novelis has been expanding its recycling capabilities to support the circular economy model in steel production. Over the past two years, key developments include the groundbreaking of several new green steel plants and initiatives led by the American Iron and Steel Institute to promote advanced steelmaking technologies. The market is becoming increasingly competitive, with a strong focus on environmentally responsible production methods in line with government regulations and industry standards.

Market Segmentation

Outlook

High Strength Steel
Low Alloy Steel
Stainless Steel

Green Steel Market Form Outlook

Flat Steel
Long Steel
Steel Products

Green Steel Market Quality Grade Outlook

High Strength Steel
Low Alloy Steel
Stainless Steel

Green Steel Market End Use Industry Outlook

Construction
Automotive
Manufacturing
Energy

Green Steel Market Method of Production Outlook

Hydrogen-Based Reduction
Electrolysis
Biomass Direct Reduction
Recycling

Report Scope

Report Attribute/Metric	Details
Market Size 2024	USD 2.39 Billion
Market Size 2025	USD 3.59 Billion
Market Size 2034	USD 142.28 Billion
Compound Annual Growth Rate (CAGR)	50.50% (2025 - 2034)
Base Year	2024
Market Forecast Period	2025-2034
Historical Data	2020- 2024
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Production Technology, Application, and Region
Countries Covered	US
Key Companies Profiled	Ansteel Group (China), Boston Metal (U.S.), Cleveland-Cliffs (U.S.), H2 Green Steel (U.S.), Nippon Steel Corporation (Japan), China Baowu Group (China), ArcelorMittal (Luxembourg), Nucor Corporation (U.S.), Steel Dynamics, Inc. (U.S.), and United States Steel Corporation (U.S.)
Key Market Opportunities	Government in US is in favor of the transition to environmentally friendly steel production
Key Market Dynamics	Increasing consumer demand for eco-friendly goods Growing venture capitalist and other investor investment

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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FAQs

How much is the green steel market?

The US Green Steel market size was valued at USD 2.39 Billion in 2024.

What is the growth rate of the green steel market?

The market is projected to grow at a CAGR of 50.50% during the forecast period, 2025-2034.

Who are the key players in the green steel market?

The key players in the market are Ansteel Group (China), Boston Metal(U.S.), Cleveland-Cliffs (U.S.), H2 Green Steel(U.S.), Nippon Steel Corporation (Japan), China Baowu Group(China), ArcelorMittal(Luxembourg), Nucor Corporation (U.S.), Steel Dynamics, Inc. (U.S.), and United States Steel Corporation (U.S.).

Which production technology led the green steel market?

The renewable – electric arc furnace (R-EAF) category dominated the market in 2024.

Which application had the largest market share in the green steel market?

The automotive category had the largest share in the market.

What is the estimated market size of the US Green Steel Market in 2024?

The US Green Steel Market is expected to be valued at 349.2 million USD in the year 2024.

What is the projected market size of the US Green Steel Market by 2035?

By the year 2035, the US Green Steel Market is projected to reach a value of 4190.0 million USD.

What is the expected CAGR for the US Green Steel Market from 2025 to 2035?

The US Green Steel Market is anticipated to exhibit a compound annual growth rate of 25.344% from 2025 to 2035.

Who are the key players in the US Green Steel Market?

Major players in the US Green Steel Market include Clearway Energy, Nucor, ClevelandCliffs, and U.S. Steel.

What market value is attributed to the Hydrogen-Based Reduction method in 2024?

The Hydrogen-Based Reduction method is valued at 100.0 million USD in the year 2024.

What is the expected market value for Recycling in the US Green Steel Market by 2035?

The Recycling method is anticipated to reach a market value of 1220.0 million USD by the year 2035.

What is the market size for Electrolysis in 2024?

Electrolysis is valued at 80.0 million USD in the US Green Steel Market for the year 2024.

What growth opportunities exist within the US Green Steel Market?

Opportunities in the US Green Steel Market are driven by increasing demand for sustainable steel production methods.

What challenges does the US Green Steel Market face?

Challenges within the US Green Steel Market include the high production costs associated with green steel technologies.

How does the US Green Steel Market growth compare regionally?

The US Green Steel Market is experiencing rapid growth, likely reflecting trends in sustainable practices and regulations in the region.

Which production method in the US Green Steel Market is expected to have the highest valuation in 2035?

Hydrogen-Based Reduction is expected to have the highest valuation of 1200.0 million USD in 2035.

Who are the major players in the US Green Steel Market?

Key players in the US Green Steel Market include Gerdau, ArcelorMittal, Steel Dynamics, and Nucor among others.

What market size is attributed to the Recycling method of production in 2024?

The Recycling method of production in the US Green Steel Market is valued at 109.2 million USD in 2024.

What forecasted growth rate is expected for the Biomass Direct Reduction method through 2035?

The Biomass Direct Reduction method is anticipated to grow to a market value of 800.0 million USD by 2035.

What challenges does the US Green Steel Market currently face?

The US Green Steel Market faces challenges related to production technology costs and market volatility.

What is the expected market size for Electrolysis in 2035?

The market size for Electrolysis in the US Green Steel Market is projected to reach 1000.0 million USD by 2035.

How does the current global scenario impact the US Green Steel Market?

The current global scenario impacts the US Green Steel Market through heightened demand for sustainable production practices.

Primary Interviews and Information Gathering Process
1. Breakdown of Primary Respondents
2. Forecasting Model
3. Market Size Estimation
  1. Bottom-Up Approach
  2. Top-Down Approach
4. Data Triangulation
5. Validation
6. Overview
7. Drivers
8. Restraints
9. Opportunities
10. Value chain Analysis
11. Porter's Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of New Entrants
  4. Threat of Substitutes
  5. Intensity of Rivalry
12. COVID-19 Impact Analysis
  1. Market Impact Analysis
  2. Regional Impact
  3. Opportunity and Threat Analysis
13. Hydrogen-Based Reduction
14. Electrolysis
15. Biomass Direct Reduction
16. Recycling
END USE INDUSTRY (USD MILLION)
1. Construction
2. Automotive
3. Manufacturing
4. Energy
5. Flat Steel
6. Long Steel
7. Steel Products
8. High Strength Steel
9. Low Alloy Steel
10. Stainless Steel
11. Overview
12. Competitive Analysis
13. Market share Analysis
14. Major Growth Strategy in the Green Steel Market
15. Competitive Benchmarking
16. Leading Players in
Terms of Number of Developments in the Green Steel Market
1. Key developments and growth strategies
  1. New Product Launch/Service Deployment
  2. Merger & Acquisitions
  3. Joint Ventures
2. Major Players Financial Matrix
  1. Sales and Operating Income
  2. Major Players R&D Expenditure. 2023
3. Gerdau
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
4. ArcelorMittal
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
5. Green Steel Solutions
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
6. Steel Dynamics
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
7. ClevelandCliffs
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
8. Liberty Steel
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
9. Nucor
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
10. Cascadia Carbon
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
11. New Steel
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
12. EcoSteel
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
13. U.S. Steel
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
14. Novelis
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
15. Commercial Metals Company
  1. Financial Overview
  2. Products Offered
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
16. References
17. Related Reports
PRODUCTION, 2019-2035 (USD BILLIONS) & FORECAST, BY END USE INDUSTRY, 2019-2035 (USD BILLIONS) GREEN STEEL MARKET SIZE ESTIMATES & FORECAST, BY FORM, 2019-2035 (USD BILLIONS)
2019-2035 (USD BILLIONS)
ANALYSIS BY QUALITY GRADE MARKET
CHAIN: GREEN STEEL MARKET
2025 (% SHARE)
TO 2035 (USD Billions)
2025 (% SHARE)
2035 (USD Billions)
STEEL MARKET, BY QUALITY GRADE, 2019 TO 2035 (USD Billions) OF MAJOR COMPETITORS

US Green Steel Market Segmentation

Green Steel Market By Method of Production (USD Million, 2019-2035)
- Hydrogen-Based Reduction
- Electrolysis
- Biomass Direct Reduction
- Recycling

Green Steel Market By End Use Industry (USD Million, 2019-2035)
- Construction
- Automotive
- Manufacturing
- Energy

Green Steel Market By Form (USD Million, 2019-2035)
- Flat Steel
- Long Steel
- Steel Products

Green Steel Market By Quality Grade (USD Million, 2019-2035)
- High Strength Steel
- Low Alloy Steel
- Stainless Steel

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