Green steel production minimizes this impact through innovative processes such as using hydrogen instead of coal, using renewable energy in electric arc furnaces (EAFs), and maximizing the use of recycled steel in production. Market drivers include global decarbonization initiatives, where governments impose stringent emissions regulations to combat climate change. The construction sector's shift toward sustainable materials and the rise of green buildings further increase the demand for eco-friendly steel.

The Green Steel market was valued at USD 738 million in 2023 and is projected to grow to USD 39,526 million by 2030, with a compound annual growth rate (CAGR) of 78.9% from 2024 to 2030. The Green Steel Market focuses on producing steel using environmentally sustainable technologies to reduce carbon emissions significantly.