Global greenhouse gas emissions need to be radically reduced in order to limit climate warming and meet the targets set in the Paris Agreement
Increasing consumption of world’s natural resources
Increasing likelihood of extreme weather events, e.g. hurricanes, wildfires, and flooding
Impacts on steel industry dynamics
Increasing demand for sustainable, recyclable material, e.g. steel
Cost of carbon emissions
Optimization of available steel capacity to promote more resource and CO2 efficient products/processes
Extreme weather events affecting steel operations , e.g. hurricanes more common
SSAB's response
Strategic target to offer fossil-free steel to the market in 2026 and largely eliminate carbon dioxide emissions from our own operations in around 2030
Helping customers to reduce their CO2 footprint through upgrading to high-strength steel
Consideration of physical climate risks across SSAB and in new investment decisions
Population growth and urbanization
Description
Growing global population
Rapid urbanization primarily in developing countries
Urban areas need to be continuously developed to manage the increasing complexity
Impacts on steel industry dynamics
Increasing demand for steel in construction, infrastructure and energy sector
Increasing demand for sustainable and energy-efficient buildings and traffic solutions
SSAB's response
Developing new products and offerings to meet future challenges
Offering broad spectrum of products to be used in construction and infrastructure, as well as in construction machinery and renewable energy plants
Digitalization
Description
Digitalization impacting the business model for most companies
New technologies available at affordable cost
Impacts on steel industry dynamics
More efficient operating practices available
Digital services adding more transparency in the value chain
E-commerce and trade platforms impacting demand-supply dynamics
SSAB's response
Using robotics, machine learning and advanced analytics to improve production stability and process efficiency
Renewing digital service portfolio to improve customer experience
Developing new digital tools to help customers realize the potential of our steel
New 3D-printing facility under construction in Oxelösund
Changing geopolitical landscape
Description
Increasing protectionism, e.g. trade protection measures
Increased steel demand in developing economies
Impacts on steel industry dynamics
Higher importance of regional markets
Restrictions on trade and other cross-border flows
SSAB's response
Securing leadership positions in our home markets with cost leadership and preferred supplier status
Taking an active stance for free and fair trade
Advancing SSAB’s position in emerging markets for high-strength steels
Improve production capabilities, so that each site can cover a broader product range