The Market
Construction is one of the most important steel-using industries, accounting for more than 50% of world steel demand. Buildings – from houses to carparks to schools and skyscrapers – rely on steel for their strength. Steel is also used on roofs and as cladding for exterior walls.
Infrastructure development in both developing, as well as developed countries, is anticipated to remain the primary factor driving the demand for structural steel, alongside the growing housing needs, as a result of the increasing population across the globe as among the key factors driving the product demand. The world’s population is expected to increase by two billion persons in the next 30 years, from 7.7 billion currently to 9.7 billion in 2050, according to a new United Nations report launched in 2019.
