Global crude steel production is projected to reach 2.2-2.4 billion mt by 2050, with India and Southeast Asia expected to be the main sources of incremental growth, according to Edwin Basson, director general of the World Steel Association (worldsteel).
According to Basson, the global steel industry is undergoing a major transformation driven by several factors, including geopolitical shifts, demographic changes, technological developments and climate change.
Against this backdrop, global crude steel production is expected to reach between 2.2 billion mt and 2.4 billion mt by 2050, with India and Southeast Asia accounting for the main sources of incremental growth. In 2025, total crude steel production stood at almost 1.85 billion mt, according to worldsteel figures.
Meanwhile, global steel demand is expected to record a moderate increase, though the industry will continue to face significant challenges related to decarbonization.
Different regions will require different decarbonization pathways
Basson stated that several technological pathways are currently available for steel decarbonization, though their investment costs and emission reduction potential vary significantly.
Accordingly, he stressed that there is no single approach suitable for all markets and that different regions should pursue their low-carbon transformation according to their respective conditions.
The worldsteel director general also emphasized the steel industry's fundamental role in supporting social development and called for greater cooperation across the global steel industry to address the challenges associated with the sector's transformation.
