STEEL MARKETS

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As nations around the world seek to improve their standards of living and lift populations out of poverty, it is inevitable that the demand for steel will increase. 

Materials that are stronger and meet higher environmental standards will be needed.

New generations of steel continue to be developed that make it possible for manufacturers and builders to implement durable, lightweight designs.

Steel is critical simply because no other material has the same unique combination of strength, formability and versatility.

Without being aware of it, society now depends on steel. 

Humankind’s future success in meeting challenges such as climate change, poverty, population growth, water distribution and energy limited by a lower carbon world depends on applications of steel.

Steel plays a critical role in virtually every phase in our lives.

The rails, roads and vehicles that make up our transport systems use steel. Steel provides a strong framework and connections in the buildings where we work, learn and live. It protects and delivers our water and food supply. It is a basic component in technologies that generate and transmit energy.

 

Buildings and infrastructure

More than half of the steel produced worldwide goes into steel buildings and infrastructure.

The world's population is expected to increase by 2 billion persons in the next 30 years, from 7.7 billion currently to 9.7 billion in 2050, according to a new United Nations report launched in 2019.

This will be accompanied by rapid urbanisation. The need for buildings and infrastructure will continue to grow worldwide in years to come.

Steelmakers around the world are increasingly providing construction solutions that enable energy-effcient and low-carbon-neutral buildings.

These solutions are highly material efficient and recyclable.

More on steel in buildings and infrastructure

 

Automotive

Advanced High-Strength Steels (AHSS) are now used for nearly every new vehicle design. 

New grades of AHSS enable carmakers to reduce vehicle weight by 25-39% compared to conventional steel.

When applied to a typical five-passenger family car, the overall weight of the vehicle is reduced by 170 to 270 kg, which corresponds to a lifetime saving of 3 to 4.5 tonnes of greenhouse gases over the vehicle’s total life cycle.

This saving in emissions represents more than the total amount of CO2 emitted during the production of all the steel in the vehicle.

More on steel in automotive

 

Transport

Mobility is essential to our modern way of life.

The efficient transport of goods has become key to our ever more globalised economy. Freight has almost doubled over the past 30 years.

Over 15% of steel produced worldwide is used to meet society’s transport needs. It is also essential to the related infrastructure: roads, bridges, ports, stations and airports.

More on steel in transport

 

Steel in energy production and distribution

Energy is essential for the development of society and steel is critical for supplying the world with energy.

Whether based on fossil fuels, nuclear technology or renewables, steel is indispensable in the recovery, production, distribution and storage of energy.

Steel also has an important role to play in improving the efficiency of these energy sources.

More on steel in energy production and distribution

 

Food and water

Steel is needed for growing, storing and delivering our food.

It is also needed in water collection, storage, purification and distribution.

Compared to other food preservation methods, steel cans save energy because refrigeration and freezing is not needed.

Steel cans are 100% recyclable.

More on steel in packaging

 

Tools and machinery

If a product is not made of steel, the chances are that it will be made from a machine made of steel.

Steel is all around us; your car, your phone, your fridge - even the plastic and glass bottles you have inside your fridge - they are all made either of steel, or manufactured using steel tools.

Plastic car parts, glasses and computer chassis are all manufactured in moulds made of steel. Steel is essential in our modern world.

More on steel in tools and machinery