GITNUX MARKETDATA REPORT 2024

Global Steel Industry Statistics

The global steel industry is expected to continue facing challenges amid overcapacity, trade tensions, and fluctuating demand from key sectors.

Statistic 1

"In 2020, 1.86 billion metric tons of steel were produced worldwide."

Sources Icon

Statistic 2

"China is the world's largest steel producer, accounting for over 53% of the global raw steel production in 2020."

Sources Icon

Statistic 3

"In the United States, crude steel production in 2020 exceeded 72 million metric tons."

Sources Icon

Statistic 4

"Global steel demand is expected to increase by 5.8% in 2021."

Sources Icon

Statistic 5

"The steel industry employed more than 6 million people in 2017."

Sources Icon

Statistic 6

"The India is the 2nd largest steel producer in the world."

Sources Icon

Statistic 7

"Global steel consumption was 1.87 billion tonnes in 2020."

Sources Icon

Statistic 8

"The EU produced 99.5 million tonnes of crude steel in 2020."

Sources Icon

Statistic 9

"The average steel capacity utilization in 2020 was 69.6%"

Sources Icon

Statistic 10

"Steel production in Japan declined by 16.2% in 2020."

Sources Icon

Statistic 11

"Steel production in South Korea was 67.1 million tonnes in 2020."

Sources Icon

Statistic 12

"In 2020, South Africa produced 6.1 million tonnes of steel."

Sources Icon

Statistic 13

"Turkey is the 8th largest steel producing country in the world."

Sources Icon

Statistic 14

"Brazil produced 31 million metric tons of steel in 2020."

Sources Icon

Statistic 15

"In 2020, Russia accounted for 4.6% of the total global steel production."

Sources Icon

Statistic 16

"The global steel market size was valued at $807.6 billion in 2016."

Sources Icon

Statistic 17

"The global stainless steel market was valued at $111.4 billion in 2019."

Sources Icon

Statistic 18

"The Asia Pacific region is expected to remain the largest and fastest growing region with regards to steel consumption from 2020 to 2027."

Sources Icon

Statistic 19

"Global steel pricing reached $700 per metric ton in December 2020 for hot rolled steel."

Sources Icon

Statistic 20

"The global steel industry uses on average 2 gigajoules (GJ) of energy per tonne of steel produced."

Sources Icon

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!