The Global Steel for Shipbuilding Market was valued at USD 26.5 Billion in 2024 and is projected to reach USD 34.8 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period (2024–2030). This robust growth is primarily fueled by rising global seaborne trade, increasing demand for new energy-efficient vessels, and the modernization and expansion of naval fleets across the globe.

As the maritime industry navigates toward greener and more technologically advanced vessels, the foundational role of high-quality, specialized steel is more critical than ever. In this blog, we profile the Top 10 Companies in the Steel for Shipbuilding Industry—a group of global steel giants and specialized producers whose materials form the backbone of the world’s shipping infrastructure.

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🔟 1. ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Key Offering: Advanced High-Strength Steels (AHSS), Naval Steel Plates, Shipbuilding Grades

ArcelorMittal is the world’s largest steel producer, with a commanding presence in the shipbuilding sector. Its extensive portfolio includes a wide range of high-tensile steel plates and sections engineered for hull construction, decks, and offshore structures, meeting stringent international classification society standards.

Innovation Focus:

• Development of lightweight, high-strength steels to improve vessel fuel efficiency

• Investments in sustainable steelmaking processes, including hydrogen-based reduction

• Global supply chain network ensuring timely delivery to major shipyards

Download FREE Sample Report: Global Steel for Shipbuilding Market – View in Detailed Research Report

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9️⃣ 2. Nippon Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: YP Steel Plates, Corrosion-Resistant Steels, Thick Plates for LNG Carriers

Nippon Steel is a dominant force in Asian shipbuilding, supplying premium-grade steel to leading shipyards in South Korea, Japan, and China. The company is renowned for its advanced thermo-mechanical control process (TMCP) steels, which offer superior toughness and weldability for constructing large container ships and LNG carriers.

Innovation Focus:

• Pioneering nickel-steel alloys for cryogenic applications in LNG carrier containment systems

• R&D into anti-corrosive coatings to extend vessel service life

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8️⃣ 3. POSCO

Headquarters: Pohang, South Korea
Key Offering: POSCO AH36/DH36 Shipbuilding Plates, High-Manganese Steel for Cryogenic Tanks

As South Korea is a global shipbuilding hub, POSCO plays an indispensable role as a primary supplier. The company provides a comprehensive range of steel products tailored for every part of a vessel, from the keel to the superstructure, with a strong focus on materials for advanced green ships.

Innovation Focus:

• Leading supplier for the construction of very large ethane carriers and LNG-fueled vessels

• Development of FINEX® technology for more environmentally friendly steel production

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7️⃣ 4. China Baowu Steel Group (Baowu)

Headquarters: Shanghai, China
Key Offering: Shipbuilding Plates, Sections, High-Strength Low-Alloy (HSLA) Steel

China Baowu Steel Group is the world’s largest steel producer by volume and a cornerstone of China’s massive shipbuilding industry. The company supplies vast quantities of standardized and specialized steel to domestic and international shipyards, supporting the construction of all vessel types.

Innovation Focus:

• Expansion of high-value-added steel products for complex vessel designs

• Integration of smart manufacturing and digital tracking for quality control

Download FREE Sample Report: Global Steel for Shipbuilding Market – View in Detailed Research Report

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6️⃣ 5. ThyssenKrupp AG

Headquarters: Essen, Germany
Key Offering: High-Strength Steels, Submarine-Quality Plates, Custom Steel Solutions

ThyssenKrupp’s marine steel division is a key supplier to European shipyards, particularly for high-specification vessels like cruise ships, naval frigates, and submarines. Their expertise lies in producing heavy plates with exceptional mechanical properties and purity.

Innovation Focus:

• Specialization in steel grades for military and specialized commercial vessels

• Focus on reducing the carbon footprint of steel production through green hydrogen initiatives

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5️⃣ 6. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: JFE EWEL® Corrosion-Resistant Steel, High-Tensile Strength Plates

JFE Steel is another Japanese titan, known for its technological innovation in shipbuilding steels. Its proprietary EWEL steel significantly reduces the need for corrosion-protection painting, offering shipowners substantial lifecycle cost savings.

Innovation Focus:

• Leader in supplying steel for dual-fuel and ammonia-ready vessels

• Development of ultra-thick plates for the construction of large container ship hulls

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4️⃣ 7. HBIS Group

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Shipbuilding Plates, Structural Sections, High-Strength Steel

HBIS Group is one of China’s top steel producers, with a significant output dedicated to the shipbuilding sector. It serves a broad base of customers with cost-competitive, quality-certified steel products for bulk carriers, container ships, and offshore platforms.

Innovation Focus:

• Increasing production efficiency to meet the high-volume demands of global shipbuilding

• Investing in product quality upgrades to compete in international markets

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3️⃣ 8. TATA Steel

Headquarters: Mumbai, India
Key Offering: TATA Pravesh Shipbuilding Plates, Offshore Structural Steel

TATA Steel is a major supplier to shipyards in India and a growing exporter to international markets. The company provides a range of graded steel plates that comply with global standards from classification societies like Lloyd’s Register and DNV.

Innovation Focus:

• Focus on serving India’s strategic goal of becoming a global shipbuilding hub

• Commitment to sustainable steelmaking with ambitious carbon reduction targets

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2️⃣ 9. SSAB

Headquarters: Stockholm, Sweden
Key Offering: SSAB Strenx® Performance Steel, Hardox® Wear Plate, Armox® Protection Plate

SSAB specializes in high-strength steels, with applications ranging from lightweight ship structures to armor plating for naval vessels. Its products enable the design of stronger, lighter, and more durable ships, contributing to improved fuel efficiency and performance.

Innovation Focus:

• World leader in fossil-free steel production via the HYBRIT initiative

• Developing advanced steel solutions for ice-going vessels and arctic shipping

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1️⃣ 10. Ansteel Group (Ansteel)

Headquarters: Anshan, Liaoning, China
Key Offering: Shipbuilding Plates, Seamless Steel Pipes for Ship Systems

Ansteel Group is one of China’s oldest and largest steel producers, with a dedicated focus on the shipbuilding industry. It supplies a wide array of steel products essential for hull construction and internal ship systems.

Innovation Focus:

• Continuous improvement in the quality and consistency of heavy steel plates

• Strategic partnerships with domestic shipbuilders to support national maritime ambitions

Download FREE Sample Report: Global Steel for Shipbuilding Market – View in Detailed Research Report

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⚓ Outlook: The Future of Steel for Shipbuilding Is Stronger and Greener

The global shipbuilding steel market is undergoing a significant transformation. While standard-grade steel remains the volume leader, the industry is rapidly adopting advanced high-strength and lightweight alloys to meet demands for efficiency, sustainability, and digitalization.

📈 Key Trends Shaping the Market:

• Accelerated demand for steel suited for LNG, hydrogen, and ammonia-fueled vessels

• Stricter international regulations (e.g., EEDI, CII) driving the need for lighter, stronger materials

• Growth in naval shipbuilding programs, requiring specialized, high-integrity steel

• Rising investments in green steel production to reduce the maritime industry’s carbon footprint

Get Full Report Here: Global Steel for Shipbuilding Market – View in Detailed Research Report

The companies listed above are not only building the world’s ships—they are forging the sustainable and technologically advanced future of global maritime transport.