Alloy Steel Market Size and trends
Global alloy steel market is estimated to be valued at USD 147.94 Bn in 2025 and is expected to reach USD 192.20 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 3.8% from 2025 to 2032.
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The market growth can be attributed to increasing demand for alloy steel in various end-use industries such as automotive, construction, machinery, and others. The market is expected to witness positive growth over the forecast period, owing to rising automotive production across the world. Growing infrastructure development activities in developing nations can also boost demand for alloy steel in construction applications. Rapid industrialization and urbanization are also expected to propel the market growth during the forecast period.
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