The figures for 2024 and 2025 are projections; the figure for emerging markets has been calculated by comparing demand in industrialized countries to the world total.
Citation formats
Projected demand for steel products in industrial and emerging markets 2023-2025
Demand for steel products in emerging markets is forecast to amount to approximately **** billion metric tons in 2025. Emerging markets, India and China in particular, play a significant role in the global demand for steel products.
Demand for steel in China and India
China accounts for nearly half of the world’s steel consumption and similarly provides much of the global steel output. In the upcoming years, China’s steel product consumption is expected to decrease slowly, by some percent in 2024 and *** percent in 2025. On the other hand, India is expected to see some of the fastest growth in the world, reaching close to percent year-on-year in 2024. Domestic construction and infrastructure account for most of India’s steel demand.Â
The impact of coronavirus
Due to the COVID-19 crisis, the monthly crude steel demand had decreased in 2020, dipping especially in April of that year as national lockdowns were put in place, making manufacturing stagnant. 2021 saw a slow recovery, with figures dipping again in April of that year. The impact of the crisis has been mitigated by China's economic rebound.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how ÌÇÐÄÆƽâ°æ can support your business.
World Steel Association. (October 14, 2024). Demand for steel products in industrial and emerging markets from 2023 to 2025 (in million metric tons) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 31, 2026, from /statistics/276253/demand-for-steel-products-in-industrial-and-emerging-markets/
World Steel Association. "Demand for steel products in industrial and emerging markets from 2023 to 2025 (in million metric tons)." Chart. October 14, 2024. ÌÇÐÄÆƽâ°æ. Accessed July 31, 2026. /statistics/276253/demand-for-steel-products-in-industrial-and-emerging-markets/
World Steel Association. (2024). Demand for steel products in industrial and emerging markets from 2023 to 2025 (in million metric tons). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 31, 2026. /statistics/276253/demand-for-steel-products-in-industrial-and-emerging-markets/
World Steel Association. "Demand for Steel Products in Industrial and Emerging Markets from 2023 to 2025 (in Million Metric Tons)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 14 Oct 2024, /statistics/276253/demand-for-steel-products-in-industrial-and-emerging-markets/
World Steel Association, Demand for steel products in industrial and emerging markets from 2023 to 2025 (in million metric tons) ÌÇÐÄÆƽâ°æ, /statistics/276253/demand-for-steel-products-in-industrial-and-emerging-markets/ (last visited July 31, 2026)
Demand for steel products in industrial and emerging markets from 2023 to 2025 (in million metric tons) [Graph], World Steel Association, October 14, 2024. [Online]. Available: /statistics/276253/demand-for-steel-products-in-industrial-and-emerging-markets/
