Foshan Yuhai Screw Machinery Co. LTD
Global steel demand will climb to 2.1 billion tons in 2040
Date: 2020-10-20 14:17:02

  China has entered a new stage of development, and the steel market is behaving more and more like a mature market, so a new region is needed to continue to promote the growth of global steel demand. Just like the tremendous impetus that China has shown in the past decade, Edwin Basson believes that only three regions in the world may have such potential in the future.
      At present, the growth of China's steel production has stalled, so an emerging market that can continue to promote the growth of global steel production in the future is needed. According to data released by the International Steel Association, China's crude steel output rose from 640 million tons in 2010 to 822 million tons in 2013, but the year-on-year growth rate in 2014 has fallen to 0.1%, and crude steel output reached 822.7 million tons.
      The first is Southeast Asia, which includes India, which has a large population and economic scale also has global influence; the second is the Middle East and North Africa region, which has very strong growth, but it is not enough to promote the world in terms of scale. Growth; Finally, Africa is the region, which has potential growth influence.
      According to the International Steel Association, by 2019, the proportion of global converter steel production will drop to 70%, and the proportion of electric furnace steel will rise to 30%. This is because the vast majority of new steel production capacity in the future will come from developing countries, but these countries do not have sufficient electricity and scrap resources, and the shortage of energy and scrap supply will force developing countries to adopt more blast furnace-converter long process production processes.
      By 2040, global steel demand will climb from 1.5 billion tons in 2014 to 2.1 billion tons. In terms of regions, by 2040, the apparent consumption of steel in the North American Free Trade Area will increase from 145 million tons in 2014 to 195 million tons; the Middle East will increase from 52 million tons in 2014 to 87 million tons; and the Africa region will increase from 3700 tons. Ten thousand tons increased sharply to 107 million tons; the Asian region rose from 1 billion tons to 1.3 billion tons. 
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