Edwin Basson, Director General of the World Steel Association (worldsteel), said the global steel industry is undergoing major transformation, driven by geopolitical shifts, demographic changes, technological innovation, and climate change. 

Against this backdrop, global crude steel production is expected to reach 2.2-2.4 billion tons by 2050, with India and Southeast Asia expected to provide most of the additional production.

According to worldsteel data, global crude steel production totaled nearly 1.85 billion tons in 2025. Meanwhile, global steel demand is expected to continue growing moderately, although the industry still faces significant challenges related to decarbonization.