The global raw steel production is currently dominated by China, accounting for the majority of the totals. In 2023, China continued its growth trend with a 2.6% increase. India and Iran are noteworthy for their growth, at 2.99% and 3.03% respectively, while developed nations like Japan and the United States saw declines. Among emerging economies, Vietnam showed significant growth, at 3.77%, while Pakistan led with a remarkable increase of 5.93%. In Europe, only a few countries recorded positive growth, with Ukraine experiencing a substantial 4.63% decline. Over five years, China and India maintain strong CAGR, indicating their sustained growth in the sector.
Looking ahead, trends to watch include India's potential to gain more market share, China's strategic shifts due to environmental policies, and technological advancements in steel production, particularly in emerging markets like Vietnam and Pakistan. Additionally, the geopolitical landscape, trade policies, and global economic conditions will play critical roles in shaping the future production dynamics of raw steel across different countries.
Top countries in Raw Steel Production by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 1,055,500 | 2023 | +2.74% | +2.6% | View data |
| 2 | 2 India | 123,360 | 2023 | +2.82% | +2.99% | View data |
| 3 | 3 Japan | 103,340 | 2023 | -0.19% | -0.19% | View data |
| 4 | 4 United States | 83,760 | 2023 | -0.19% | -0.66% | View data |
| 5 | 5 Russia | 74,450 | 2023 | +0.7% | +0.76% | View data |
| 6 | 6 Germany | 42,430 | 2023 | -0.13% | -0.0028% | View data |
| 7 | 7 Brazil | 35,630 | 2023 | +0.63% | +0.51% | View data |
| 8 | 8 Iran | 29,030 | 2023 | +3.55% | +3.03% | View data |
| 9 | 9 Taiwan | 24,410 | 2023 | +1.1% | +1% | View data |
| 10 | 10 Italy | 23,530 | 2023 | -0.51% | -0.78% | View data |
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