Continuous Casting Billets Market Growth Outlook USD 22.8 Bn in 2023 to USD 34.7 Bn by 2031

Global Continuous Casting Billets Market Strengthens with New Investments and Policy Support in USA and Japan

FUKUOKA, YOKOHAMA, JAPAN, August 29, 2025 /EINPresswire.com/ -- Market Size and Growth

The Continuous Casting Billets Market is witnessing renewed momentum, supported by strong steel demand, technological innovations, and favorable government policies. According to DataM Intelligence, the global market for continuous casting billets was valued at USD 22.8 billion in 2023 and USD 34.7 billion by 2031 is projected to grow at a CAGR of 5.2% from 2024–2031, driven by construction, automotive, and infrastructure expansion.

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Market Insights: Japan and USA Lead Advancements

• United States: The U.S. billet casting market accounted for USD 4.9 billion in 2023, underpinned by infrastructure modernization initiatives and the Bipartisan Infrastructure Law, which is channeling investments into domestic steel production. U.S. producers are increasingly focusing on low-emission billet casting technologies to align with DOE’s 2024 Clean Energy Industrial Strategy.

• Japan: Japan’s billet casting market was valued at USD 3.2 billion in 2023, supported by the country’s resilient steel industry and growing exports to Southeast Asia. The Japanese government’s Green Transformation (GX) policy, launched in 2024, is accelerating investment in decarbonized steel manufacturing, positioning billet casting as a central process for next-generation infrastructure projects.

Industry News

1• Nippon Steel Corporation (Japan) announced in July 2025 a strategic upgrade to its Muroran plant’s billet casting facility, aimed at producing high-quality billets for automotive-grade steel exports.

2• Cleveland-Cliffs Inc. (USA) unveiled a $200 million investment in June 2025 to modernize its Ohio continuous casting line, enhancing billet quality and production efficiency.

Recent M&A Activity

• In May 2025, ArcelorMittal USA completed the acquisition of a billet casting facility in Indiana to strengthen its downstream supply chain in the construction steel segment.

• JFE Steel (Japan) entered a joint venture with a Southeast Asian partner in April 2025 to export billet casting technology, targeting growing regional demand.

Policy Developments Impacting Market Growth

1• United States: The Inflation Reduction Act (2024–2025 updates) has introduced tax credits for steel manufacturers adopting low-carbon casting technologies, directly benefiting billet producers.

2• Japan: The GX League Industrial Decarbonization Roadmap announced in 2025 prioritizes modernization of continuous casting processes to reduce carbon intensity by 30% by 2030, supporting billet market growth.

Key Players

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New Product/Service Launches

• Primetals Technologies launched its SmartCaster^® technology in July 2025, a next-gen billet casting system that reduces energy use by 15% and is already being piloted in Japan.

• U.S. Steel Corporation introduced a new sustainable billet product line in June 2025, targeting eco-conscious automotive manufacturers in North America.
Emerging Region Spotlight

Beyond the U.S. and Japan, India is rapidly emerging as a key growth region, with billet production expected to grow at 7.5% CAGR (2024–2030) due to high infrastructure investments under the National Steel Policy 2030.

Market Segmentation:

By Size:
The market is segmented into 100×100, 120×120, 140×140, 160×160, and others, catering to diverse industrial requirements. Larger sizes are preferred in heavy industries like construction and aerospace, while smaller sizes are widely used in automotive and precision engineering.

By Shape:
Round, hexagon, square, and other shapes dominate the demand spectrum, with each shape tailored to specific applications. Round and square variants are common in structural and mechanical uses, while hexagonal designs are gaining traction in high-strength engineering.

By Material:
Steel, copper, aluminum, and other materials form the core of the market, with steel leading due to its strength and durability. Copper and aluminum are favored for electrical and lightweight applications, reflecting the push for efficiency and sustainability.

By End-User:
Key industries include automotive, aerospace, oil & gas, power generation, construction, and others, each driving unique consumption patterns. Automotive and aerospace prioritize lightweight yet durable materials, while oil & gas and power generation focus on strength and heat resistance.

DataM Intelligence’s Expert View

“Continuous casting billets are at the core of the global steel value chain. With policy-driven decarbonization in Japan and large-scale infrastructure push in the U.S., the market is set for strong growth. Emerging economies like India will also play a pivotal role in shaping the supply-demand balance,” said a senior analyst at DataM Intelligence.

Related Reports

Round Billets Market

Square Billets Market

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Sai Kiran
DataM Intelligence 4Market Research LLP
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sai.k@datamintelligence.com
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