Steel - estimated demand worldwide by region 2019 & 2020

Between 2019 and 2020, steel demand in Africa is tipped to grow by 3.2 percent to reach 37.2 million metric tons. China is the largest consumer of apparent steel.

Worldwide steel demand

In 2018, the apparent consumption of crude steel in China amounted to approximately 870 million metric tons. Asia's largest economy is expected to enter a phase of stagnation between 2019 and 2020. The market for steel scrap and steel recycling is predicted to spell trouble for the steel production sector.

Steel is an important material used in shipbuilding and car manufacturing, as well as building construction and infrastructure development. However, from 2009 through 2013, the steel industry experienced a challenging period including the upheaval in the US financial markets, slowing economic growth in China, as well as the eurozone sovereign debt crisis. In 2020, worldwide apparent steel use is estimated to grow to around 1.8 billion metric tons.

Estimated demand for finished steel products worldwide between 2019 and 2020, by region

20192020
Asia and
Oceania
1,248.11,270
EU 28166.8168.6
Other
Europe
32.934.5
NAFTA141.5142.6
CIS5859.2
Middle East47.948
Central and
South America
43.845.5
Africa3637.2
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Source

Release date

October 2019

Region

Worldwide

Survey time period

as of October 2019

Supplementary notes

The values refer to finished steel products.

The figures for 2019 and 2020 are projections.

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Statistics on "Global steel market"

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