GITNUX MARKETDATA REPORT 2024

Steel Products Industry Statistics

The Steel Products Industry statistics provide valuable insights into production, consumption, exports, and employment trends within the sector.

Statistic 1

"The construction industry accounts for more than 50% of world steel demand."

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Statistic 2

"The energy intensity of crude steel production fell from about 5.5 GJ per tonne in 2000 to about 5 GJ per tonne in 2016."

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Statistic 3

"In 2020, the estimated recycling rate of steel was over 86%."

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Statistic 4

"Europe produced approximately 138 million tonnes of crude steel in 2020."

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Statistic 5

"The demand for steel in the renewable energy sector is expected to increase by 20% by 2030."

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Statistic 6

"The global steel market size is projected to reach USD 1,157.7 billion by 2028."

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Statistic 7

"About 75% of modern steel buildings and infrastructure are recycled after they are demolished."

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Statistic 8

"The average price of hot-rolled steel coils was $1,850 per metric ton in October 2021."

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Statistic 9

"Indian steel production reached 100.3 million metric tons in 2020, making it the second-largest producer in the world."

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Statistic 10

"The profitability of the global steel industry decreased by about 40% between 2018 and 2019."

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Statistic 11

"In 2020, the United States exported approximately 7 million metric tons of steel mill products."

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Statistic 12

"The steel products industry in Japan produced around 83 million metric tons of steel in 2020."

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Statistic 13

"The steel products industry employs more than 6 million people globally."

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Statistic 14

"Electric Arc Furnaces (EAFs) account for 29.5% of global steel production."

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Statistic 15

"In 2020, the United States produced 72.7 million metric tons of crude steel, making it the fourth-largest steel-producing country."

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Statistic 16

"The steel industry contributes over 2.5 trillion USD to the global GDP."

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Statistic 17

"The steel industry emits approximately 7% of global CO2 emissions."

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Statistic 18

"The automotive sector consumes about 12% of the world's steel production."

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Statistic 19

"The global steel market size was valued at USD 841.44 billion in 2020 and is anticipated to expand at a CAGR of 2.9% from 2021 to 2028."

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Statistic 20

"China is the largest producer of steel, accounting for 57% of the world's total production in 2020."

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