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Steel Industry Statistics & Facts

The global steel industry is a powerhouse, with production reaching nearly 1.9 billion tonnes in 2023. Dive into the latest steel statistics and facts, from production figures and top-performing companies to insightful data on steel usage and recycling.

TABLE OF CONTENTS

1. How much steel is in the world?

2. Steel production by country

    • UK steel production statistics

    • Top steel producing countries

    • Top steel producing regions

    • Largest steel producer in the world

3. Steel production by year

    • World crude steel production from 1950 to 2023

4. Steel production companies 

    • Top steel companies in the world

    • Top steel companies in the UK

5. Steel use by sector

6. Steel exports by product

7. Steel recycling statistics

How much steel is in the world?

1,892,562 thousand tonnes of crude steel were produced globally in 2023. That’s almost 1.9 billion tonnes!

(Source 1)

Steel production by country

UK steel production statistics

The United Kingdom is ranked the 26th largest steel producing country in the world.

(Source 2)

Compared with the EU countries, the UK ranks as the 8th largest steel producer, following Germany, Italy, Spain, France, Austria, Poland, and Belgium.

(Source 3)

Steel production in the UK has declined over the last two years. UK steelmakers produced 15.6% less steel in 2022 than 2021. In 2023, steel production decreased by a further 6.5% in 2023 compared to 2022.

(Source 4)

Top steel producing countries

The top 10 steel-producing countries in the world are China, India, Japan, the United States, Russia, South Korea, Germany, Turkey, Brazil, and Iran.

  1. China
  2. India
  3. Japan
  4. United States
  5. Russia
  6. South Korea
  7. Germany
  8. Turkey
  9. Brazil
  10. Iran
Pie chart showing the geographical distribution of crude steel production in 2023
Steel production and use: geographical distribution, 2023 – World Steel Association

(Source 5)

Top steel producing regions

The top 5 steel producing regions in the world are Africa, Asia and Oceania, Europe, the Middle East, and North America.

  1. Africa
  2. Asia and Oceania
  3. Europe
  4. Middle East
  5. North America

(Source 5)

Largest steel producer in the world

China is the largest steel producer in the world.

In 2023, China produced 1,019,080 thousand tonnes of steel, accounting for over half (53.8%) of all steel production in the world.

(Source 1)

Steel production by year

  • The steel production industry saw a rapid 23.6% growth between 1950-1970.
  • Steel production increased 10.8% between 2000-2010.
  • Global steel production has been stable since 2020.

(Source 6)

World crude steel production from 1950 to 2023

Line graph showing global steel production by year from 1950 to 2023
World crude steel production by year from 1950 to 2023, in million tonnes – World Steel Association

 

Steel production companies

Top steel companies in the world

As of 2023, China Baowu Group is the world’s largest steel-producing company in terms of revenue and steel output.

(Source 7)

Prior to 2023, ArcelorMittal had consistently generated the highest revenue among iron and steel companies since the 2006 merger of Arcelor and Mittal Steel.

The top 10 steel-producing companies in the world based on steel output are:

  1. China Baowu Group, China
  2. ArcelorMittal, Luxembourg
  3. Ansteel Group, China
  4. Nippon Steel Corporation, Japan
  5. HBIS Group, China
  6. Shagang Group, China
  7. POSCO Holdings, South Korea
  8. Jianlong Group, China
  9. Shougang Group, China
  10. Tata Steel Group, Japan

(Source 8)

Top steel companies in the UK

There are 1,160 businesses in the UK steel industry.

(Source 3)

The top 5 steel-producing companies in the UK, in terms of steel output are:

  1. Tata Steel UK Ltd
  2. British Steel Ltd
  3. Liberty Steel Group
  4. Celsa (UK) Holdings Ltd
  5. Marcegaglia (UK) Ltd
A pie chart showing the annual steel production capacity of the UK's top steel producing companies, in million tonnes.
Annual steel production capacity of the UK’s top steel producing companies, in million tonnes (Mt).

(Source 4)

Steel use by sector

The majority of the world’s steel is used in building and infrastructure.

Here’s a breakdown of the percentage of steel used for each industry sector:

• 52% of steel is used in building and infrastructure

• 16% of steel is used in mechanical equipment

• 12% of steel is used in the automotive industry

• 10% of steel is used in metal products

• 5% of steel is used in other transport

• 3% of steel is used in electrical equipment

• 2% of steel is used in domestic appliances

An infographic showing the proportion of steel used in different steel markets in 2023.
Steel use by sector, 2023 – World Steel Association

(Source 9)

Steel exports by product

Hot-rolled sheets and coils were the most exported steel products in 2023.

Here’s the top 10 world steel exports by product and their total tonnage:

  1. Hot-rolled sheets and coils (75.6 Mt)
  2. Ingots and semi-finished material (53.2 Mt)
  3. Galvanised sheet (41.0 Mt)
  4. Steel tubes and fittings (36.5 Mt)
  5. Plates (35.2 Mt)
  6. Cold-rolled sheets and coils (30.3 Mt)
  7. Wire rod (22.6 Mt)
  8. Angles, shapes and sections (20.1 Mt)
  9. Other coated sheet (18.4 Mt)
  10. Concrete re-inforcing bars (15.5 Mt)

(Source 6)

Steel recycling statistics

• Steel is the most recycled material in the world.

• Steel can be recycled infinitely without losing its original properties.

• The global steel industry has recycled over 25 billion tonnes of steel since 1900. 

• Steel recycling has reduced iron ore consumption by around 33 billion tonnes.

• Steel recycling has reduced coal consumption by 16 billion tonnes.

• Around 680 million tonnes of steel were recycled in 2021.

• The amount of steel recycled in 2021 avoided over 1 billion tonnes of CO2 emissions that would have been emitted from the production of virgin steel.

• 1 tonne of steel recycled saves on average 1,400 kg iron ore, 740kg coal and 120kg limestone.

• Recycling a single steel can save 1 laundry load, 1 hour of TV, or 24 hours of a 10 watt LED bulb.

• Steel recycling creates new jobs for scrap collection, separation and recycling.

• Steel is easy and affordable to recover from almost any waste stream due to its magnetic properties.

(Source 10)

SOURCES

  1. Annual Production Steel Data – World Steel Association 
  2. December 2023 crude steel production and 2023 global crude steel production totals – World Steel Association
  3. UK steel industry: statistics and policy – House of Commons Library
  4. UK reduced steel production by 6.5% y/y in 2023 – GMK Center
  5. Steel Data Viewer – World Steel Association
  6. World Steel in Figures 2024 – World Steel Association
  7. Top Producers – World Steel Association
  8. The largest steel companies worldwide based on revenue – Statista
  9. Steel use by sector – World Steel Association
  10. Circular Economy – World Steel Association
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