Metals are key commodities in industrial manufacturing. Some of the largest market segments include precious metals, base metals, and ferrous metals. Among the most widely-used and abundant commodities is steel. It plays an essential role in infrastructure development and building construction, as well as car manufacturing and shipbuilding. Since steel is also among the most commonly recycled commodities, overcapacities have caused profits at steel producers to shrink. Companies' woes were further exacerbated by continuing uncertainty sparked by trade tariffs. Demand for finished steel products is estimated at around 1.77 billion metric tons globally.

Demand for crude steel worldwide
1.9 billion metric tons
Demand for finished steel products worldwide
1.8 billion metric tons
Leading market for finished steel products worldwide
Asia and Oceania

Industry leaders

Where are steel companies headed?
The world's largest crude steel producers in 2020, by production volume (in million metric tons)
The world's largest crude steel producers in 2020, by production volume (in million metric tons)
Further details: Visit original statistic

Steel shipments declined dramatically in 2020, as the entire sector was affected by work stoppages and slow demand amid the coronavirus pandemic. As a result, the China Baowu Steel Group might move up a peg and capture the spot as the world's leading steel producer, edging past ArcelorMittal. Baowu already tops the chart as the leading steelmaker based on revenue.

Steel industry worldwide
Steel industry in China
Top companies: mining & metal

Industry Definition

The metals category provides information on metal fabrication, sales, and revenue. The range of products covered includes 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. Data on a global, regional, and country scale is available. Also available is information on recycling, employment, and environmental factors. All of the information is complemented with manufacturer rankings.


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