In 2023, China dominated global raw steel production with a share of 53.65%, followed by India (6.27%) and Japan (5.25%). Over the past two years, noticeable growth was observed in Iran (3.03%), Vietnam (3.77%), and Pakistan (5.93%), while Ukraine (-4.63%), the United Kingdom (-5.78%), and Tunisia (-8.24%) faced significant declines. China's production increased by 2.6%, maintaining its leadership. Major steel producers like the United States (-0.66%) and Germany (-0.0028%) experienced slight reductions. Growth trends in the United Arab Emirates (4.84%) and Ecuador (3.23%) underscore their rising importance in the steel industry.
Future trends to watch include:
- Continued dominance of China and expansion in Indian and Vietnamese steel markets.
- Potential recovery or further decline in historically strong producers like Ukraine and the United Kingdom.
- Monitoring the impact of economic and political factors on production variations in emerging markets such as Pakistan and the United Arab Emirates.
- The technological advancements and sustainability efforts influencing global steel production.
Top countries in Raw Steel Production Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 53.65 | 2023 | +2.74% | +2.6% | View data |
| 2 | 2 India | 6.27 | 2023 | +2.82% | +2.99% | View data |
| 3 | 3 Japan | 5.25 | 2023 | -0.19% | -0.19% | View data |
| 4 | 4 United States | 4.26 | 2023 | -0.19% | -0.66% | View data |
| 5 | 5 Russia | 3.78 | 2023 | +0.7% | +0.76% | View data |
| 6 | 6 Germany | 2.16 | 2023 | -0.13% | -0.0028% | View data |
| 7 | 7 Brazil | 1.81 | 2023 | +0.63% | +0.51% | View data |
| 8 | 8 Iran | 1.48 | 2023 | +3.55% | +3.03% | View data |
| 9 | 9 Taiwan | 1.24 | 2023 | +1.1% | +1% | View data |
| 10 | 10 Italy | 1.2 | 2023 | -0.51% | -0.78% | View data |
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