Is the Center of Steel Production Shifting Again?

Published on 10 May, 2017

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With applications in almost all major industries such as energy, construction, automotive & transportation, infrastructure, and more, steel is the second-largest industry in the world, generating over USD 900 billion in revenue every year, globally.

While world GDP peaked at 19x in the 20th century, steel production surged, growing by more than 30x during the same period. Since the beginning of the 21st century as well, while world GDP grew by nearly 2.2 times (till 2015), steel production kept pace and almost doubled during the same period.

Although global steel production has grown steadily over the past few decades, there has been a gradual but discernible shift in where the world’s steel comes from, particularly over the past 15-20 years.

This report examines how a combination of several factors has led to traditional steel-producing countries such as the US, Japan, and Germany, being replaced by developing countries like China and India. You'll also get a glimpse into where the world's next big steel producers are likely to emerge.



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