For centuries, steel has been valued for its high-tensile strength and durability and has been fundamental to societal advancement, allowing us to build bridges, railroads, ships, and skyscrapers. Steel manufacturing has seen an increase in capacity, volume, and industry value for many years. However, following the Covid-19 pandemic, production has slowed.

This downturn has been exacerbated by global efforts to move towards more sustainable, carbon-neutral practices, which traditional steel manufacturing does not reflect. Here, we will explore the current hot topics of the industry, how the global market has evolved in recent years, and finally, we consider where it is headed in the future.

Applications of Steel
Steel is one of the most important materials in the world for engineering and construction, and it facilitates the connectivity of the world. Today, steel features in many aspects of our daily lives; it is used in cars, refrigerators, washing machines, trains, weapons, rockets, and even in surgical scalpels. It is difficult to imagine a world without steel.

Hot Topics in Steel Manufacturing
The steel industry is one of the world’s most polluting industries, it accounts for roughly 7% of global carbon dioxide emissions. The world is under increasing pressure to decarbonize its activities in order to meet the goals of The Paris Agreement, established to limit global warming and its negative impacts. Therefore, the steel industry, along with other polluting sectors, must drastically develop new technologies that do not emit carbon dioxide. This must happen in the next 5-10 years.

The industry is currently exploring carbon capture technologies as a strategy for reducing its emissions. Additionally, it is exploring the concept of green steel - the manufacture of steel without the need for fossil fuels. Further to this, steel manufacturers are looking into how to establish a circular economy in order to reach net zero. Research has also highlighted the importance of making effective use of scrap metal. As much as 41% of the steel industry’s emissions could be eliminated by better-embracing scrap metal use.

While these strategies are promising, the sector needs significant investment to make these changes.

As the world looks for ways to reduce its impact on the environment, it is reconsidering its traditional processes. Steel has been around for centuries but its production releases a great number of emissions. Therefore, people are turning to alternative construction methods that are considered to be more sustainable, such as timber construction, which has a lower carbon footprint.