| Climate change and scarce resources | Digitalization | Changing global market conditions | Population growth and urbanization |
|
• Increasing demand for steel with a low climate impact • Increasing cost of carbon emissions but also higher costs for decarbonization • Development of more resource- and carbon efficient products and processes • Climate change can affect production and supply chains |
• Digital services provide greater availability of more efficient control systems and increased transparency in the value chain • E-commerce and digital platforms impact market dynamics |
• Higher importance of regional markets because of growing protectionism and trade policy restrictions • Reinforced trend of increased regionalization, among other things attributable to Russia's invasion of Ukraine and the Covid pandemic • Increasing demand for steel in emerging economies |
• Increasing demand for steel in the construction, infrastructure and energy sectors • Increasing demand for sustainable and energy-efficient buildings and traffic solutions |
• Increasing demand for steel with a low climate impact
• Increasing cost of carbon emissions but also higher costs for decarbonization
• Development of more resource- and carbon efficient products and processes
• Climate change can affect production and supply chains
• Digital services provide greater availability of more efficient control systems and increased transparency in the value chain
• E-commerce and digital platforms impact market dynamics
• Higher importance of regional markets because of growing protectionism and trade policy restrictions
• Reinforced trend of increased regionalization, among other things attributable to Russia's invasion of Ukraine and the Covid pandemic
• Increasing demand for steel in emerging economies
• Increasing demand for steel in the construction, infrastructure and energy sectors
• Increasing demand for sustainable and energy-efficient buildings and traffic solutions
| Market dynamics | Demand and capacity | Competition | Trade |
|
• Demand for applications with higher productivity and lower weight • Increasingly regional supply chains • Continued interest in steel with low CO2 emissions • Increasing interest in steel produced with recycled scrap steel • High volatility in demand and prices for standard products |
• Global capacity utilization at a relatively good level • Uncertain economic development • Continued volatile steel prices |
• Various transformation projects in Europe, also start-ups • Increasing capacity in the USA • Increasing capacity for scrap-based steel production |
• Increasing exports of steel from Asia • Continued various protectionist measures • EU's Carbon Border Adjustment Mechanism (CBAM) is expected to impact the European steel industry |
• Demand for applications with higher productivity and lower weight
• Increasingly regional supply chains
• Continued interest in steel with low CO2 emissions
• Increasing interest in steel produced with recycled scrap steel
• High volatility in demand and prices for standard products
• Global capacity utilization at a relatively good level
• Uncertain economic development
• Continued volatile steel prices
• Various transformation projects in Europe, also start-ups
• Increasing capacity in the USA
• Increasing capacity for scrap-based steel production
• Increasing exports of steel from Asia
• Continued various protectionist measures
• EU's Carbon Border Adjustment Mechanism (CBAM) is expected to impact the European steel industry