The global steel industry stands at a critical crossroads. Responsible for 7-9% of global CO2 emissions, steelmakers face mounting pressure to transform as climate regulations tighten and market demands evolve. This IDTechEx report examines how the industry is responding to these challenges through 2035, analyzing both incremental improvements to existing processes and innovative production methods using hydrogen and clean electricity.

 

Steel's carbon challenge & evolution to green steel

The traditional blast furnace-basic oxygen furnace (BF-BOF) production route uses coking coal as both fuel and reducing agent, making it highly carbon intensive. Evolving regulations and the global push towards sustainability are influencing the steel market, mounting pressure on steelmakers to decarbonize.