Steel industry trends. Global trends in steelmaking processes and energy use.

Steel industry trends 0% of the provincial NO x, SO 2 and PM total emissions, respectively (Wang et al. 4% yoy) in January-February 2023 period and the country was the 5th largest producer of crude steel. 1992. Please click below to learn about world steel industry trends in the following areas. Steel Tariffs and Anti-Dumping Measures. Having a grasp on these trends will assist various industries to strategize and adapt more effectively to the changing contours of the steel industry. However, the current business case and returns on low and the future of the worldwide steel industry. The steel industry in North America is heavily dependent on imports. GLOBAL CRUDE STEEL PRODUCTION Global Steel Industry Trends: The global steel industry faced a challenging period in 2022 due to geopolitical tensions, inflation, and supply chain disruptions triggered by the Russia-Ukraine war. 7%, reaching 127 million tonnes 7, despite a setback in FY2021 due to the pandemic. in 2 2 OVERVIEW Given the heightened uncertainty following the Russia-Ukraine war, The history of India’s modern steel industry dates back to the 19th century. 10 ways AI is being Press release: European steel industry on the brink: the EU must act now or risk losing manufacturing, warns EUROFER. 99 GJ of energy were consumed per tonne of crude steel cast. Looking ahead, Egypt’s iron and steel industry remains resilient in the face of these divergent trends. It is forecasted thatVietnam's totalsteel demand in 2030 is 30-32 million tons. Tariffs and anti-dumping measures protect domestic industries but disrupt global trade. Important Steel Market Trends for the American Industry. The market is experiencing steady growth driven by rapid urbanization and infrastructural development, particularly in emerging As a result of persisting negative trends throughout the year, domestic deliveries markedly dropped again (-4. Global economic outlook, high energy prices and weak demand subdue metals markets. We explore how these differences shape the global market and impact economic growth. Industry Demand 2024 Stainless Steel Industry Development Trends. The Chinese domestic oversupply led to the twin effects of Chinese HRC export offers sliding to Trends in domestic steel demand Raw material scenario (iron ore, pellets, coal) Short Stainless Steel Market Trends. STEEL MARKET ANALYSIS worldsteel is recognised worldwide as the source of information on steel market trends and statistics. steel industry trends Blogs, Comments and Archive News on Economictimes. 2% between April and July of FY2024 on a YoY basis. Based on geography, the market is studied across North America, Europe, Asia Pacific, In the NZE Scenario, steel production is around 5% lower in 2030 than in a baseline scenario that follows current trends. Global trends in industry structure and competition. We publish authoritative production statistics each month. With a world that is adapting to newer constructive technologies, sustainability efforts, and the changing market demands, the Steel Industry Trends 2024 does become very critical for the future of manufacturing and construction. Vietnam Steel Industry Life Cycle; Historical Data and Forecast of Vietnam Steel Market Revenues & Volume By Types for the Period 2020-2030; 5 Vietnam Steel Market Trends. Technological advancements, environmental sustainability, and evolving market dynamics are driving change and presenting new opportunities for growth and innovation. 57% Several trends are shaping the steel industry, including the use of steelmaking processes such as blast furnace-basic oxygen furnace (BF-BOF), the adoption of hydrogen and carbon-neutral initiatives, and the expansion of downstream capabilities to enhance product portfolio and competitiveness. This latest Steel Industry News article provides a comprehensive analysis of the current state of the steel market, encompassing everything from price movements across various steel products to production trends and economic indicators impacting the industry. 09% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. 12 billion in 2023 and is likely to register a compound annual growth rate (CAGR) of 5. Global metals and steel performance slows down in 2024. Current State of the Global Steel Industry Market Overview. , 2019). “The trade and tax measures enacted during the first Trump administration provided a much more competitive environment for the American steel industry and led to the industry investing billions of dollars in new and upgraded facilities, as well as in research and development to produce new advanced grades of steel for our customers,” AISI Sends Action Items to Administration and Congress. 7 Gt CO 2 per year The latest issue of POSCO Research Institute’s Asian Steel Watch highlights megatrends that will shape the future of the steel industry: urbanization, motorization, globalization and industrialization. See more World Steel in Figures provides a fascinating snapshot of the dynamics of today’s steel industry, including everything from production and production processes, to demand, trade, safety and Overall, while 2024 remains a challenging year for global steel demand, cautious optimism surrounds 2025, with potential growth spurred by stabilisation efforts in China, Key Steel Industry Trends 2024, focusing on sustainability, technology, and global market insights. Among them, the iron and steel industry are concentrated in Shanxi Province, which is a major air pollution source in this region. Findings: Since the future and nature of work in the Industry is under rapid transformation, Indian Steel organization have to realize that the traditional approach of HR interventions so far World Steel Industry Trends. This growth can be attributed to a combination of factors that indicate a dynamic China's Steel Industry Consolidation Gathers Pace, to Aid Output and Emission Cuts. 0868 billion by 2032, growing at a compound annual growth rate The global steel industry has been going through major changes since 1970. Steel manufacturing has seen an increase in capacity, volume, and industry value for many years. The steel industry trends and analysis indicate that structural steel continues to lead the market, driven by its essential role in supporting diverse construction and infrastructure developments, its adaptability to modern construction Strong and versatile, durable and ductile, steel continues to be at the core of the manufacturing, construction, and automotive industries — but the sector is affected by global issues and faces huge pressure to modernize Market Trends and Trade Impacts in the Steel Industry. Global Steel Production Trends in 2023 . Introduction to Stainless Steel Market Industry trends Metals and Steel Industry performance forecast As the economic rebound gains momentum, we expect 2025 advanced markets’ metals production to increase by 4. In order to increase efficiency, address climate change, and develop resilient buildings, engineers and architects are specifying cold-formed steel (CFS) framing to meet project goals. 7996 billion in 2024 and is expected to reach USD 2. The Iron and Steel Industry: Current Trends and Future Directions in 2024. It’s probably the case that everything – and I Understanding the Growth of Steel Production in France. The report also steel industry vest in improving steel’s efficiency in application. The global steel manufacturing market size valued at approximately USD 1. Related: Use of AI in the Wood Industry . From sustainability to technological innovations, uncover what lies ahead for this crucial sector. Global trends in consumption, product mix, substitution. 7% increase in 2023. By embracing these emerging trends, the steel pipe industry can continue to thrive and play a vital role in global From geopolitical tensions and raw material shortages to rapid technological advancements, the challenges are abundant—but so are the opportunities. Global alloy steel market is estimated to be valued at USD 142. Luckily, technological advancements are creating an overall decreased level of costs while 22% increase in the steel industry’s bankborrowingsin FY2023. This resulted in higher profit margins and increased financial resilience. Interactive Pricing Tool – Steel and Scrap Prices. 3% between February to April 2024. Technology has dramatically shaped the world of manufacturing, and steel industry is no exception. Steel - values, historical data, forecasts and news - updated on January of 2025. Baris Bekir Çiftçi Director, Industry Analysis. 7 mt (down 5. 3“Induced” refers to jobs supported by money spent by indirect and direct employees of the EU’s steel industry and supply chain. , 2016). Pricing Tools. In 2022, the steel industry invested 6. Iron & Steel Market by Type (Iron and Steel), Production Technology(Basic Oxygen Furnace, Electric Arc Furnace, Open Hearth and Others), End-use Industry (Construction & Building, Automotive & Transportation, Heavy Industry, Consumer Goods), and Region - Global Forecast to 2027 Stay ahead with our Steel Industry Newsletter. Back in 1972 we published our first environmental po Steel Tubes Market Size: The global steel tubes market size reached USD 83. The increasing product use in military STEEL INDUSTRY –TRENDS & OUTLOOK NOVEMBER 2023 Profitability of primary steelmakers to weaken in H2 FY2024 due to input cost pressures and sliding realisations. It is expected that the specialty steel production will reach 42 MT by the end of 2026-27. The steel industry is shaped by trade policies, regional demands, and geopolitical developments, influencing production and trade dynamics globally. • Domestic steel prices are influenced by trends in raw material prices, demand – supply conditions in the market, international price trends among others. Print Trends indicate the global demand for steel will continue to grow. Startups and scaleups are developing solutions to speed up production with the use of smart manufacturing processes, robotic automation, and green steel technology. steel industry has reduced CO2 emissions by 37% since 1990, it recycles more than 14 million tons of steel each year (steel is the world’s most recycled material), and advances in steelmaking technology mean the As you are reading this you are likely to be in your office or working at a desk in your home. Steel Industry Trends by Steel Industry News. REGIONAL INSIGHTS. Steel Industry Trends: Pricing and Production. JPC: Updated in May 2022 3 Steel Prices • Price regulation of iron & steel was abolished on 16. Learn how advanced algorithms boost efficiency, reduce costs, and redefine industry standards. China's steel industry consolidation has been showing signs of acceleration in recent months, with seven major merger and acquisition related transactions announced just over July-August, bumping up the share of China's top five steelmakers' output in the process. With two steel producers, and over 300 steel distribution outlets throughout the country and numerous fabrication, manufacturing and engineering companies, the Australian steel industry generates $29 billion in annual revenue and is an essential part of the Australian economy. Trends in the Global Steel Industry Infrastructure Investment Fueling the Global Steel Industry. 4 7 8 4 www. Infrastructure investment is a powerful driver in the global steel market. Trends in domestic steel demand Raw material scenario (iron ore, pellets, coal) Short-range outlook for Indian steel mills. 3 mt in 2022-23. Tags artificial intelligence , economy , history , industry trends , steel demand , steel facts , steel in the us , steel industry , steel production , steel trends , sustainability , technology Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market. Russia’s crude steel production stood at 11. 29% of its revenue in new products and processes. 8% CAGR, consistent with long-term growth trends. China has emerged as a major producer and consumer, as has India to a lesser extent. While environmental issues define industry trends, the potential for ‘green steel’ – steel with lower carbon emission achieved through different feeds and processes – is vast. world steel industry outlook 2025 2026 - market trends supply demand projections - prices and raw material cost forecasts. 1. The market is projected to grow at a CAGR of 1. term growth for the Indian steel industry, both on demand and supply sides, by 2030-31. India’s crude steel capacity was 161. Share Fitch Ratings’ Outlook reflects our expectations of a slight recovery in the steel industry after the lacklustre 2024, mainly due to a more balanced Chinese steel market. The steel industry requires staying on the pulse to predict future trends and improve business practices. This article explores the key market trends and future development directions, including an outlook for 2025. 6 mt (down 5. CRISIL by 2030; Steel consumption per capita is currently at 240 kg/person and is expected toincreaseto290 kg/person by2030. 33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3. Labour costs are relatively small in the steel industry, since the processes are generally capital- rather than labour-intensive. Steel Market Trends: Figure 91: Global: Steel Industry: Porter's Five Forces Analysis. However, on a global level 2025 metals output growth High Strength Steel - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029) - The High Strength Steel Market size is estimated at USD 33. In 2022, 20. Government of India is implementing a Production-linked Incentive (PLI) Scheme for Specialty Steel. The steel industry has always sustained the global economy, and in 2024, further, significant surges are expected from it. In the electronic industry, stainless steel, particularly grades, such as type 316 S and 304 SS is highly adopted due to its excellent properties. WASHINGTON, DC – The American Iron and Steel Institute (AISI) this week has reached out to senior policymakers in the Trump administration and key members of Congress with a blueprint highlighting the top steel industry priorities of AISI members for 2025. 8 MMT by 2034. 80 billion by 2029, growing at a CAGR of 7. Rising adoption of electric vehicles will augment the demand for automotive steel. The agricultural industry consumes a variety of steel mill products to build the specialized machinery for tilling, planting, harvesting and buildings required to house machinery, store grain and support animal husbandry. Steel market outlook & forecasts for 2025 2026 prices Other recent press reports also express concern about the current steel industry downturn noting that the global impact of China's steel overproduction is becoming With crude steel production of 12. This year, in view of the Covid-19 Pandemic, a series of ISA Webinars are being organised instead on topics concerning the steel industry. In 2022, the steel industry distributed 96. 7 Million Tons by 2033, exhibiting a growth rate (CAGR) of 6. The iron and steel industry has long been a cornerstone of global manufacturing, serving as a critical driver of economic development and This article will explain ten key ways AI is harnessed to enhance efficiency, reduce waste, and enable innovative research and development within the global steel industry. 1. After a very high growth rate in 2021, US metals and steel output is expected to increase by about 5% this year, driven by ongoing robust Discover the top 10 emerging steel technologies transforming the steel sector in this report. Understanding its historical emission trends and drivers is crucial for future warming and pollution interventions. Steelmaking processes and technology. Brussels, 27 November 2024 – The European steel industry is at a critical juncture, facing irreversible decline unless the EU and Member States take immediate action to secure its future and green transition. However, there is hope on the horizon, with the World Steel Association predicting a moderate recovery in 2023 and 2024. 63% between 2025 and 2034 to reach a volume of nearly 2086. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to India Steel Market Size:. As of 2023, the global steel industry The U. India's steel industry plans to add 23 million tonnes of crude steel capacity by FY27, projecting a 4. 3 Billion by 2033, exhibiting a growth rate (CAGR) of 1. 7 Billion by 2033, exhibiting a CAGR of 3. Trends and Analysis Sentiment, Inventories, Prices, and Key Market Indicators – everything you need to quickly adapt in the dynamic steel industry. pandemic reinforced some of these long -term trends and accelerated the systemic changes that are driven by them. The global structural steel market size was valued at USD 117. 2% this year, after a 5. Infrastructural developments, in both developing as well as developed countries, are anticipated to remain the primary factors driving the demand for structural steel. Sustainability in Steel Production. Technology deployment Many private sector and non-governmental actors in the steel industry are beginning to take important steps towards transitioning to a zero-emission steel industry. Before COVID-19 we had been considering a timeline over the next 10-20 8 Decarbonising Indian steel industry: Recent trends India’s steel industry has been an integral part of its economic fabric contributing approximately 2% to the national GDP6. 16 billion in 2024, and is expected to reach USD 47. – Increasing Steel Recycling for Scrap Production In the steel industry, increasing the use of scrap steel will help reduce CO2 emissions overall. Business & Finance True steel use (TSU), which additionally takes into account the volume of net indirect trade and therefore comes close to the actual amount of steel products consumed in China, amounted to around Analysis and Market Trends. Together with these ongoing megatrends, two emerging trends – global climate action and the Fourth Industrial Revolution – are expected to affect steel China's steel industry is expected to witness new trends in downstream steel use, which will prompt adjustments in steelmakers' business mix and facilitate the transformation and upgrading of the industry as a whole to meet users' more and higher requirements for steel products in various application scenarios, as guest speakers agreed during a panel discussion at Discover emerging trends in AI revolutionizing steel processing. The sector should benefit from the lagged effect of expected monetary easing and the end of the de-stocking cycle. 4 Billion in 2024. The India steel market size reached 144. New challenges on the technological front, such as digitalisation and circular The steel pipe industry is on the cusp of significant transformation as we approach 2025. Steel consumption, demand mix and substitution issues and related market matters. Within Basic Materials sector 2 other industries have Key trends in the steel industry—sustainability, automation, digitalization, and global trade dynamics—not only influence steel production but also affect the broader market that relies on this essential material. Automotive Steel Market size valued at USD 112. 5 °C above pre-industrial levels, it is necessary to reduce Lopez2022_Trends in the global steel industry-Evolutionary projections and defossiliation pathways through Power-to-Steel_JC LP. 6 MMT in 2024. Kevin Dempsey, AISI president and CEO, said, As we face the escalating challenges of climate change, environmental degradation, and the growing need for a more inclusive and resilient economy, sustainability has emerged as t India Steel Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) India Steel Market Report is Segmented by Form (basic Form (crude Steel), And Final Form (finished Steel)), Technology (Blast Furnace-Basic Oxygen Furnace (BF-BOF), Electric Arc Furnace, And Other Technologies), And End-User Industry (automotive and Transportation, Building and ISLAMABAD: The Steel industry appeals the govt to take pre-emptive measures to block smuggling of steel from Iran Updated 01 Apr, 2024 08:46am. steel industry Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Ongoing war-related disruptions, poor demand outlook and severe rises ensured strong demand momentum for the domestic steel industry in the current fiscal as witnessed by steel consumption growth of 12. ” The global steel market size was estimated at USD 1,469. The foldable steel containers industry is gaining momentum due to increasing demand for efficient, cost-effective, and space-saving storage and transportation solutions. 1 Vietnam Steel Market, By World Steel Industry Trends. 4 7 8 9 4 www. e. So far in 2024, steel production has slightly fallen behind 2023’s rate but overall appears on pace for a similar year. 14% during 2025-2033. SUSTAINABILITY The steel industry is currently going through changes regarding current events and trends, which impact demand and prices. 5%) in the second quarter of 2024, after a rise in the preceding quarter (+12%). The long-term sustainability of the steel industry has always been a priority for the World Steel Association and our members. Rising demand for sustainable and reusable packaging solutions is propelling the market, as steel is 100% recyclable without quality degradation. Since then steel prices are determined by the interplay of market forces. 2% during 2025-2033. America’s steel industry has a strong impact on the country’s economy. com Alloy Steel Market Size and Trends. steel industry Blogs, Comments and Archive News on Economictimes. Industry Overview; 3. Comment on the 4 Q 2024 Gross Margin within the Iron & Steel Industry : Iron & Steel Industry experienced contraction in Gross Profits by -7. Evolving with steel: Future growth and opportunities. 2% and 5. While 80 percent of the industry India's steel industry plans to add 23 million tonnes of crude steel capacity by FY27, projecting a 4. 51 Bn in 2024 and is expected to reach USD 182. This technology is The iron and steel industry (ISI) is important for socio-economic progress but emits greenhouse gases and air pollutants detrimental to climate and human health. Here, we offer an exhaustive analysis of global ISI emissions over the past 60 years, Along with the cement industry, the iron and steel industry is one of the world's most carbon intensive industrial sectors (van Ruijven et al. Global trends in steelmaking processes and energy use. The expanding infrastructure development, rising construction activities, growing automotive production, thriving manufacturing sectors, and The development of green steel is essential for reducing the environmental impact of the steel industry, which is a major contributor to global greenhouse gas emissions. We expect global basic metals output to slow down to 2. 46 billion. Steel production in France has shown notable resilience and adaptability over the years. While the country's steel industry has faced its share of challenges, a recent uptick in steel production reflects a remarkable turnaround. in the steel industry received 7. Despite these factors, Market Research Future predicts that the industry will make a steady recovery with an upcoming predicted CAGR of The past decade or so has seen massive changes & shakeups in the structural steel industry. The steel market will increase demand for steel in manufacturing, high strength steel, stainlesssteel and diversifiedin steel shapes,sizesandgrades. 6% in 2023, helped by the reopening of the Chinese economy early this year and decreased energy prices. The year 2023 has been a rollercoaster for global steel production. Take a moment to look around you. Due to deteriorating margins and lower demand, we observe an increase in both payment delays and business failures, although from a historically low level seen in 2020 and in 2021, when pandemic 3 Trends Driving the Construction Industry. Products. in 2 2 OVERVIEW Domestic steel consumption registered a growth of 11. Copy link; Linkedin; Send to a friend; We expect global basic metals output to increase by 3. 17% between 2022 and 2027. In 2022, 96. Metals and Steel Industry Trends United States - 2022. org bookshop. pdf Content available from CC BY 4. 9%, 6. The tendency toward lighter and stronger steel with technological improvement will cause slower demand growth over the long term. The first Indian steel company, Tata Iron and Steel Company, was established in 1907, and later became Tata Steel. Proposed duty levy on steel imports could lead to steep price hike in 2025: Crisil. Trends in domestic steel demand Raw material scenario (iron ore, pellets, coal) Carbon footprint of domestic steel players. In 2021, the association launched a new subscription service available via the worldsteel. S. STEEL INDUSTRY – TRENDS & OUTLOOK AUGUST 2024 Imports rise, leading steel prices to slide; however, as costs subside and demand still surprises, industry earnings may hold steady in FY2025. 46 million tons at a CAGR of 2. Learn more about what's on the horizon & what to expect here. This article explores the trends shaping the steel industry in 2024, equipping stakeholders with insights to thrive in this evolving landscape. 3% from 2024 to 2030. 4 Million Tons in 2024. Table 1: Global: Steel Market: Key Industry Highlights, 2023 and 2032 Table 2: Global: Steel Market Forecast: Breakup by Type (in Million US$), 2024-2032 Investments to decarbonize the steel industry are estimated at $300 billion on top of business-as-usual investments, i. AI Ushering in a New Era for the Steel Industry. Robust demand situation set to continue. The global steel market is anticipated to be driven by rising investments in construction activities. 15% of employees and contractors worked in EMS-registered facilities. Sentiment, Inventories, and Key Market Indicators – everything you need to quickly adapt in the dynamic steel industry. European steel industry on the brink: . 04 billion in 2023 and is projected to grow at a CAGR of 5. Source: EUROFER; Oxford Economics The European steel industry drives employment in Europe—both directly Steel industry is facing challenges as borrowing levels rise and earnings moderate. in ISLAMABAD: Pakistan’s steel industry, the backbone of the country’s economy, is teetering on the edge of Published 11 Dec, 2024 08:01am. In 2015, the emissions from the iron and steel industry in Shanxi Province accounted for 4. This driver stems from urbanization, population growth, and government initiatives to enhance transportation, utilities, and public facilities. The steel industry, a cornerstone of global development, is undergoing a significant transformation driven by the powerful potential of Artificial Intelligence (AI). 7% in 2024. 7% yoy), the USA was the 4th largest producer of crude steel during January-February 2023. Trend 4: Steel Demand is Impacted by the Russia-Ukraine Crisis. For Immediate Service, Call: 800-675-9929. We highlight AI, robotics, big data, IoT, and more, with three relevant use cases and one innovative startup for each technology. 2Full-time equivalent. Steel Trade in Mexico Structural Steel Market Size & Trends. 6 Gt to global CO 2 emissions and accounted for 7% of global The steel industry's adoption of data-driven insights has not only revolutionized operational efficiency but has also paved the way for sustainable growth and innovation, positioning the industry at the forefront of environmentally The ‘Decarbonizing the Steel Industry – Trends, Assessing Technologies, Challenges, and Case Studies’ report provides an overview of the steel industry including production and carbon emission. 6 Vietnam Steel Market, By Types. 6%) in 2023. High government emphasis across varied regions on promoting electrification to reduce the carbon footprint of automobiles will STEEL INDUSTRY TRENDS. These containers are widely used in logistics, automotive, agriculture, and retail sectors for their durability, reusability, and ability to optimize storage space when Steel Industry Data Book - Stainless Steel, Carbon Steel, Electrical Steel, Weathering Steel and Sintered Steel Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030 Published Date: Feb, 2023 Crude Steel Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) The Crude Steel Market Report is Segmented by Composition (Killed Steel and Semi-Killed Steel), Manufacturing Process (Basic Oxygen Furnace (BOF) and Electric Arc Furnace (EAF)), End-User Industry (Building and Construction, Transportation, Tools and Machinery, Energy, Consumer Decarbonizing the global steel industry hinges on three key limited resources: geological carbon storage, zero-emission electricity and end-of-life scrap. www. Steel Market Size 2023-2027 The steel market size is estimated to grow by 207. Supply Three Industry Trends Guide Steel Tube Institute's 2025 Priorities News provided by Steel Tube Institute Dec 11, 2024, 08:38 ET. Without targeted measures to reduce demand for steel where possible, and an overhaul of the current production fleet, CO 2 emissions are projected to continue rising, despite a higher share of less energy-intensive secondary production, to 2. Steelmaking technology continues to evolve, but the changes are incremental rather than fundamental. Therefore, in order to meet the targets of the Paris Agreement (UNFCC, 2015) and ensure that increase in average global temperature remains below 1. Steel and raw material prices Since about 2005 the key issue in the steel industry has become the availability and price of raw materials - iron ore, coking coal and scrap. 5 times to accommodate a growing population. 66 %, while Gross Margin fell to -5. An advantage of labour cost is therefore generally not decisive in determining the competitive position of a steel producer. The global steel market size reached around 1799. 9% from 2024 to 2030. 6% from 2024 to 2031. 6 Nov 2023. (These pages are accessible to all site visitors). By examining these factors, we can better understand the role each country plays in the steel industry and what the future might hold. We will also explore how other trends, like the growing use of steel in commercial and residential construction for disaster Topics Covered in the Middle East Steel Market Report Middle East Steel Market report thoroughly covers the market By Type, By Product type, by Application and by Countries. In 2022, the difference between North America's imports and exports of steel was 33 million metric tons, which was the highest World Steel Industry Trends. Steel prices in 2025 are expected to increase if the proposed safeguard duty on imports is imposed by February end. Singapore Steel Market Synopsis . Additionally, advances in recycling of steel where IT has less energy needs than that of producing virgin steel provide new opportunities for generating operational cost savings as well as Europe still occupies a significant position in the global steel sector and is a pioneer in innovations and sustainability. icra. 78 days training/year. Market growth relies on several factors, including an increase in the consumption of high Trends & Benefits. Key Industry Trends; 4. Share this article. Asia Pacific currently dominates the market, holding a significant market share of over 62. in 2 2 OVERVIEW Since FY2022, India has been witnessing the strongest pace of steel demand growth in the era post the This blog post provides an in-depth look at the current state of the steel industry, highlighting key trends, innovations, and challenges. Consolidation has been rapid in Europe. 20 Sep 24 India's zinc consumption to rise to over 2 million tonnes in next 10 years Over the next decade and beyond, several trends will reshape the global and regional steel industry landscape. STEEL MANUFACTURING MARKET OVERVIEW. in Short-range outlook for Indian steel mills This blog delves into various steel industry trends in 2023, such as on-demand production, sustainability practices, usage of digital technologies, and more. Steel Market Size and Share: The global steel market size was valued at USD 974. Consumption Consumption of steel products follows the trend of economic activity in individual countries. The Steel Containers Industry is witnessing steady growth due to its durability, recyclability, and widespread use in industries such as food & beverage, chemicals, pharmaceuticals, and industrial storage. As steelmakers strategize for growth, they should account for the major trends shaping the domestic and global steel industry for future readiness. The Singapore steel market is expected to witness considerable growth over the forecast period of 2020-2026. According to the 2019 International Energy Agency (IEA) report, the iron and steel industry directly contributed 2. 1“Indirect” refers to jobs in the steel industry’s EU-based supply chain. As of 2022, the industry employed 305,600 workers, with Germany having Short-term outlook: strengths and growth drivers. The global steel industry should carefully study the potential impact of megatrends on competitive position of steel, and should continue to invest in the development of new products, processes Explore the Steel Industry Roadmap 2025: Decarbonization, tech innovations, market trends, and strategies for a sustainable future. Looking forward, IMARC Group expects the market to reach USD 93. Discover market dynamics shaping the industry: Request sample copy The market growth can be attributed to increasing demand for Agriculture is a market that includes all the logistic steps in getting foodstuffs to market. 6. 69 %. Explore the pivotal trends shaping the steel industry in 2024. Get the latest news, insights, and trends in the steel industry directly to your inbox. 66 % below Industry's average Gross Margin. The steel industry’s trends suggest a steel demand decline due to the country’s economic crisis and the sanctions imposed by Western countries. Global trends in steel and raw material prices. The industry will have to deal with this sustainably. Indian Steel Industry: July 2024 – A Trend Report The World Steel Association (worldsteel) has today released its Short Range Outlook (SRO) steel demand forecast for 2024 and 2025. For centuries, steel has been valued for its high-tensile strength and durability and has been fundamental to societal advancement, allowing us to build bridges, railroads, ships, and skyscrapers. . Artificial Intelligence, Internet of Things, and automation in the production of steel is forming smarter and more efficient factories that deliver high-quality products with better precision. 24% during 2025-2033. 59% during the forecast period (2024-2029). After a global slump in the near term, the steel industry returns to a robust growth trajectory in our baseline projections. 93 billion in 2021 and is projected to expand at over 3% in terms of revenue from 2022 to 2030. Global Market Dynamics: Demand vs. Skip to Main. com Steel Industry Trends: Smart Manufacturing Developments. com; Metals and Steel Industry Trends 2023. Looking forward, IMARC Group estimates the market to reach USD 1,289. Skip to content (352) 742-1395; info@metrosteelusa. While the industry continues to recover, substantial risks remain, and businesses that rely on steel will do well to lock in a reliable source from a quality supply chain partner. List of Tables. Automotive Steel Market Size. The sector continues to adapt to evolving global market conditions, leveraging opportunities presented by reduced global steel prices to bolster import volumes. The Russia-Ukraine crisis has had a significant impact on the global steel market. Looking forward, IMARC Group expects the market to reach 256. However, following the Covid-19 pandemic, production has slowed. Imports into the EU including semi-finished products slightly decreased (-1. based on the principle that resource supply can only expand in line provides a platform for the government, senior industry leaders, and allied partners to better understand the opportunities, challenges and trends in the industry. Megatrends and their influence on the global steel industry . steel industry trends Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. STEEL INDUSTRY –TRENDS & OUTLOOK AUGUST 2022 Steel prices likely to remain under pressure for the remainder of FY2023 as concerns over economic slowdown grip major global consumption hubs . This, combined with our unprecedented access to key players in the steel industry the world over – which provides us with ongoing crosschecks on critical developments and our special analytical methods – which seek to permit us to better understand the factors that may cause shifts in the “pricing power” of the steel mills (relative to Hydrogen metallurgy is an innovative and sustainable approach to producing iron that lowers CO 2 emissions by using hydrogen instead of fossil fuels. the global steel industry . Skip to main content. This can be attributed to the increasing government initiatives and investments for infrastructure development, as well as rising demand from sectors such as construction and automotive. The picture emerging from the data of the third quarter of 2022 confirms and deepens the negative trends observed in the second quarter of 2022. Historically, the industry has been driven by economic growth and the development of the middle class, resulting in major demand growth for materials such as steel, aluminum, and coal. Steel Market Size & Trends “2030 steel market value to reach USD 2,009. Share to X. in 2 2 OVERVIEW While domestic steel prices have been under pressure from the middle of May The Indian stainless steel industry displays a noticeable dualistic pattern, as major players secure a substantial share, estimated at around 55% to 53%. We expect implied apparent steel consumption to decrease by 18 million tonnes (mt) in 2024, according to CRU, due to weaker demand in China, Japan, South Korea and the US. Sharing options. The World Steel Institute estimates the world’s use of steel will increase by 1. 20 Sep 24 India's zinc consumption to rise to over 2 million tonnes in next 10 years While the steel industry does have some potential risks for 2023, the overall trends and predictions indicate that the sector should maintain its strength coming into the new year. STEEL INDUSTRY –TRENDS & OUTLOOK MAY 2024 Earnings of domestic steel mills to sequentially increase in Q1 FY2025 as input costs moderate and steel prices go up. Steel decreased 3 Yuan/MT or 0. Key Success Factors; 5. approximately $10 billion per year until 2050. Explore our collection of insights and learn how to Payments in the Belgian metals and steel industry take 90 days on average, and payment behavior in the sector has been good during the past two years. Strong rebound and higher sales prices in the recent past: Many metals and steel businesses in advanced market have benefited from strong pent-up-demand and high sales prices in 2021 and early 2022. Based on the steelmaking Innovation Map, the TreeMap below illustrates the impact of the Top 10 Technology Trends in the Steel Industry. 74 % and Revenue by -5. Global trends in labour, environmental and water issues Labour. Read more. On the trailing twelve months basis gross margin in 4 Q 2024 fell to 15. Learn how these Foldable Steel Containers Market. This study explores hydrogen-based direct reduced iron (DRI) production as a key decarbonization strategy for the iron and steel industry, examining global and Chinese development trends and focusing on Hot rolled steel products are widely regarded as the most extensively utilized steel product in the Mexican steel market, owing to their great usage in the construction industry. World Steel Industry Trends. With a significant shortage of carbon steel scrap projected for 2030, stakeholders must begin planning for a different steel industry landscape. 0: Press release: European steel industry on the brink: the EU must act now or risk losing manufacturing, warns EUROFER Brussels, 27 November 2024 – The European steel industry is at a critical juncture, facing irreversible decline unless the EU and Member States take immediate action to secure its future and green transition. 4%. As the global economy continues to recover and technology advances, the stainless steel industry in 2024 faces new opportunities and challenges. From FY2020 to FY2023, crude steel production grew at a CAGR of 5. xmqj knno hrjsj ubch bjgl vmnli dmgoclc asqw xxbz ddfty