Metals are a vital commodity due to their widespread application in various industries. Metal fabrication holds significance in the areas of infrastructure development, building construction, automobile manufacturing, and shipbuilding. The steel industry is regarded as one of the most significant subsectors of the industry, primarily driven by China.
Currently, the most significant topic in the industry is the reduction of carbon emissions. Due to its high-energy production processes, the steel sector is a significant contributor to global greenhouse gas emissions. Reducing the emissions of the sector can be achieved by recycling steel scrap. In 2022, a total of seven key markets utilized approximately 469.7 million metric tons of steel scrap for steel making. That year, the worldwide crude steel production was 1.9 billion metric tons.
The world's largest 15 crude steel producers in 2022, by production volume (in million metric tons)
Further details: Visit original statistic The world's largest 15 crude steel producers in 2022, by production volume (in million metric tons)
China is the major player in the global metal industry, producing over half of the worldwide steel output despite facing heavy consequences from the Russia-Ukraine war and supply-chain disruptions. Rising global energy prices and China’s net zero-COVID policy led to many production stoppages and even plant closures. Even though the country has been dealing with various bottlenecks, China outperformed its competitors with one billion metric tons of crude steel production in 2022.
Steel industry worldwide
The metals category provides information on metal fabrication, sales, and revenue. The products covered include ferrous and non-ferrous metals, precious metals, and base metals. Within this sector, Statista provides information about the key metal products and the business activities of manufacturers. Statista further includes insights on recycling, employment, and environmental factors impacting the industry. All of this information is complemented with manufacturer rankings.
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