The Latest Global Steel Industry Statistics Explained
In 2020, 1.86 billion metric tons of steel were produced worldwide.
In 2020, the global steel industry produced a total of 1.86 billion metric tons of steel, demonstrating the significant scale and impact of steel production worldwide. This statistic reflects the essential role that steel plays in various industries such as construction, automotive, manufacturing, and infrastructure development. The production of such a vast quantity of steel highlights the enormous demand for this versatile material, driving economic growth and employment opportunities globally. Additionally, the steel industry’s production figure can serve as an indicator of overall economic activity and industrial output in various countries around the world.
China is the world’s largest steel producer, accounting for over 53% of the global raw steel production in 2020.
The statistic that China is the world’s largest steel producer, accounting for over 53% of global raw steel production in 2020, highlights the significant dominance of China in the global steel industry. This immense level of production indicates China’s pivotal role in meeting the global demand for steel and its influence on shaping global steel prices and market dynamics. It also signifies China’s substantial investment in steel manufacturing infrastructure and its competitiveness in this sector compared to other countries. Additionally, the statistic underscores the relative reliance of many countries around the world on China for a crucial raw material like steel, which can have implications for global trade relationships, supply chains, and economic stability.
In the United States, crude steel production in 2020 exceeded 72 million metric tons.
The statistic “In the United States, crude steel production in 2020 exceeded 72 million metric tons” indicates the total amount of raw steel produced in the United States during the year 2020, which surpassed 72 million metric tons. This figure serves as a key indicator of the country’s industrial strength and economic activity, as steel is a fundamental material used in various sectors including construction, automotive, and manufacturing. The high level of steel production suggests robust demand and activity within these industries, contributing to economic growth and overall prosperity. Furthermore, the statistic may also reflect the United States’ position as a significant global player in the steel production sector.
Global steel demand is expected to increase by 5.8% in 2021.
The statistic “Global steel demand is expected to increase by 5.8% in 2021” indicates a projected growth in the worldwide demand for steel products over the course of the year. This increase suggests a positive outlook for the steel industry, potentially driven by various factors such as infrastructure projects, construction activities, and recovering industrial production post-pandemic. A rise in steel demand can also reflect economic recovery and growth in key industries, signaling increased manufacturing and construction activities globally. This statistic is crucial for stakeholders in the steel industry, as it provides insight into future market trends and opportunities for production and investment decisions.
The steel industry employed more than 6 million people in 2017.
The statistic “The steel industry employed more than 6 million people in 2017” indicates that the steel industry was a significant employer at that time, providing jobs to a large workforce. This statistic suggests that the steel industry had a substantial impact on the labor market, contributing to economic growth and providing livelihoods for millions of individuals worldwide. The employment figure also reflects the importance of the steel industry within the global economy, highlighting its role as a key player in providing job opportunities and supporting various downstream industries that rely on steel products.
The India is the 2nd largest steel producer in the world.
The statistic that India is the 2nd largest steel producer in the world indicates that India holds the second position in terms of steel production globally, following China. This statistic highlights India’s significant contribution to the global steel industry, showcasing its substantial output and manufacturing capabilities in producing steel products. The rank of being the 2nd largest steel producer reflects India’s growing influence and competitiveness in the international steel market, signaling its importance in the global economy and industrial sector.
Global steel consumption was 1.87 billion tonnes in 2020.
The statistic “Global steel consumption was 1.87 billion tonnes in 2020” indicates the total amount of steel that was utilized worldwide in the year 2020. This figure provides insights into the scale of steel demand and economic activity on a global level, as steel is a key material used in various industries such as construction, automotive, and manufacturing. The high level of steel consumption suggests robust industrial production and infrastructure development, serving as an important indicator of economic growth and activity across different regions around the world. Additionally, this statistic can also be used to analyze trends in steel consumption over time, identify key market shifts, and inform strategic decision-making in industries reliant on steel.
The EU produced 99.5 million tonnes of crude steel in 2020.
The statistic “The EU produced 99.5 million tonnes of crude steel in 2020” indicates the total volume of crude steel manufactured within the European Union during the year 2020. Crude steel refers to steel in its raw, primary form before any further processing. This statistic serves as a key indicator of the industrial output and economic activity in the EU, reflecting the region’s steel production capacity and its contribution to the global steel market. The figure of 99.5 million tonnes reveals the scale and significance of the EU’s steel industry within the context of global manufacturing and trade, highlighting its role in various sectors such as construction, automotive, and infrastructure development.
The average steel capacity utilization in 2020 was 69.6%
The statistic indicating that the average steel capacity utilization in 2020 was 69.6% represents the overall level of production output relative to the maximum potential output of steel-producing facilities for that year. Specifically, it suggests that on average, steel plants operated at approximately 69.6% of their total production capacity throughout 2020. This metric is a crucial indicator of the efficiency and productivity of the steel industry, providing insights into the extent to which steel producers were utilizing their resources effectively. A higher capacity utilization rate typically signifies stronger demand for steel products and more efficient operations, while a lower rate might indicate excess capacity or weaker market conditions.
Steel production in Japan declined by 16.2% in 2020.
The statistic “Steel production in Japan declined by 16.2% in 2020” indicates that there was a significant decrease in the amount of steel manufactured in Japan compared to the previous year. This decline could be attributed to various factors such as the impact of the COVID-19 pandemic, reduced demand for steel products both domestically and globally, and disruptions in the supply chain. A 16.2% drop in steel production is notable as it can have wide-reaching implications on the economy, employment, and trade for Japan, which is a major player in the global steel industry. Policymakers, economists, and industry stakeholders may need to closely monitor this decline and its effects on the overall economy to implement strategies for recovery and resilience in the steel sector.
Steel production in South Korea was 67.1 million tonnes in 2020.
The statistic “Steel production in South Korea was 67.1 million tonnes in 2020” represents the total amount of steel that was produced by South Korea in the year 2020. This figure indicates the scale and importance of the steel industry within the country’s economy, as steel is a crucial material used in various sectors such as construction, manufacturing, and infrastructure development. The 67.1 million tonnes figure provides insight into the country’s industrial capacity and highlights South Korea’s position as a significant player in the global steel market. The statistic serves as a key indicator of economic activity and industrial output, reflecting the country’s production capabilities and competitiveness in the steel industry.
In 2020, South Africa produced 6.1 million tonnes of steel.
The statistic stating that South Africa produced 6.1 million tonnes of steel in 2020 provides a quantitative measure of the country’s steel manufacturing output for that specific year. This figure represents the total amount of steel produced by South Africa within that time frame and serves as an indicator of the country’s industrial output and economic activity in the steel sector. By quantifying the volume of steel production, this statistic can be used to assess South Africa’s position in the global steel market, track trends in the country’s industrial production, and inform strategic decision-making related to the steel industry, such as capacity planning and market analysis.
Turkey is the 8th largest steel producing country in the world.
The statistic that ‘Turkey is the 8th largest steel producing country in the world’ indicates that Turkey ranks number 8 globally in terms of its production of steel compared to other countries. This suggests that Turkey’s steel industry is substantial and plays a significant role in the global steel market. Being the 8th largest producer implies that Turkey has the capacity to produce a substantial amount of steel, contributing to its economy and potentially impacting global steel prices and trade dynamics. Additionally, it highlights Turkey’s position as a key player in the steel industry on a global scale.
Brazil produced 31 million metric tons of steel in 2020.
The statistic “Brazil produced 31 million metric tons of steel in 2020” represents the total amount of steel output by the Brazilian steel industry during the year 2020. This figure is a measure of the country’s capability and position in the global steel market, indicating its production capacity and contribution to the industry. The production of 31 million metric tons of steel signifies a significant output level that reflects the country’s industrial activities, economic growth, and competitiveness in the steel sector. This statistic is crucial for analyzing Brazil’s economy, trade relationships, and industrial performance in the context of the global steel market.
In 2020, Russia accounted for 4.6% of the total global steel production.
The statistic that in 2020, Russia accounted for 4.6% of the total global steel production implies that Russia played a significant role in the steel industry on a global scale that year. This figure indicates that Russia contributed a substantial portion of the world’s steel output, highlighting its position as one of the major steel-producing countries. A higher percentage signifies a larger share of global production, illustrating the country’s economic importance and influence in the steel market. This statistic provides insight into Russia’s role in the global steel industry and its impact on the overall market dynamics and trade relationships.
The global steel market size was valued at $807.6 billion in 2016.
This statistic indicates that the total value of the global steel market was $807.6 billion in the year 2016. This figure represents the combined revenue generated by the production, sale, and consumption of steel products on a global scale during that specific year. Understanding the market size is crucial for stakeholders such as manufacturers, investors, policymakers, and analysts, as it provides insights into the overall economic significance and growth potential of the steel industry. These statistics can be used to assess trends, make informed business decisions, and formulate strategies within the steel market on a global level.
The global stainless steel market was valued at $111.4 billion in 2019.
The statistic indicating that the global stainless steel market was valued at $111.4 billion in 2019 represents the total monetary worth of stainless steel products traded and consumed worldwide during that year. This figure is a reflection of the significant economic importance and scale of the stainless steel industry on a global level. It encompasses the value of stainless steel goods produced, sold, and used in various sectors such as construction, manufacturing, automotive, and consumer goods. The sizeable market value highlights the widespread demand for stainless steel due to its corrosion resistance, durability, and versatility across a broad range of applications, making it a key material in modern industries and infrastructure development.
The Asia Pacific region is expected to remain the largest and fastest growing region with regards to steel consumption from 2020 to 2027.
The statistic that “The Asia Pacific region is expected to remain the largest and fastest growing region with regards to steel consumption from 2020 to 2027” indicates that this region is projected to continue its dominance in the global steel market over the specified time period. This suggests that demand for steel products in countries within the Asia Pacific region is anticipated to be both substantial and growing at a faster rate compared to other regions worldwide. Factors such as rapid industrialization, infrastructure development, and urbanization in countries like China, India, and Southeast Asian nations are likely driving this trend. As a result, stakeholders in the steel industry may focus their strategies on catering to the needs of this dynamic and crucial market segment to capitalize on the opportunities presented by the growing steel consumption in the Asia Pacific region.
Global steel pricing reached $700 per metric ton in December 2020 for hot rolled steel.
The statistic “Global steel pricing reached $700 per metric ton in December 2020 for hot rolled steel” indicates that the average cost of one metric ton of hot rolled steel on the global market was $700 in December 2020. This metric serves as an important indicator of the current market conditions and suggests that hot rolled steel prices were relatively high at that time. Such information is crucial for various industries that rely on steel, as it can impact production costs, pricing strategies, and overall competitiveness in the market. Additionally, tracking trends in steel pricing can provide insights into the broader economic environment, particularly in industries closely tied to construction, manufacturing, and infrastructure development.
The global steel industry uses on average 2 gigajoules (GJ) of energy per tonne of steel produced.
The statistic indicates that on a global scale, the steel industry requires an average of 2 gigajoules (GJ) of energy to produce one tonne of steel. This measurement serves as an indicator of the energy intensity of steel production worldwide. Higher energy consumption per tonne of steel produced reflects less efficient processes, while lower energy usage suggests more efficient and sustainable practices. Understanding and monitoring average energy consumption per tonne of steel can help identify opportunities for energy efficiency improvements within the industry, leading to reduced environmental impact and operating costs.
Conclusion
Overall, the global steel industry statistics paint a comprehensive picture of the current trends and challenges faced by this vital sector. From production numbers to consumption patterns, these statistics offer valuable insights for industry stakeholders, policymakers, and investors looking to understand and navigate the complex landscape of the global steel market. By analyzing and leveraging these statistics effectively, it is possible to make informed decisions and drive positive developments within the industry.
References
0. – https://www.www.globenewswire.com
1. – https://www.www.grandviewresearch.com
2. – https://www.agmetalminer.com
3. – https://www.www.statista.com
4. – https://www.www.ibef.org
5. – https://www.www.worldsteel.org
