Mining
Ranked: The World’s Biggest Steel Producers, by Country
Subscribe to the Elements free mailing list for more like this
Ranked: The World’s Biggest Steel Producers, by Country
This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on real assets and resource megatrends each week.
Steel is a critical component of modern industry and economy, essential for the construction of buildings, automobiles, and many other appliances and infrastructure used in our daily lives.
This graphic uses data from the World Steel Association to visualize the world’s top steel-producing countries, and highlights China’s ascent to the top, as it now makes up more than half of the world’s steel production.
The State of Global Steel Production
Global steel production in 2022 reached 1,878 million tonnes, barely surpassing the pre-pandemic production of 1,875 million tonnes in 2019.
Country | 2022 Production (in million tonnes) | Annual Production Change | Global Share |
---|---|---|---|
🇨🇳 China | 1013.0 | -2.0% | 53.9% |
🇮🇳 India | 124.8 | 5.3% | 6.6% |
🇯🇵 Japan | 89.2 | -7.9% | 4.8% |
🇺🇸 United States | 80.5 | -6.5% | 4.3% |
🇷🇺 Russia | 71.5 | -5.8% | 3.8% |
🇰🇷 South Korea | 65.9 | -6.9% | 3.5% |
🇩🇪 Germany | 36.8 | -8.8% | 2.0% |
🇹🇷 Türkiye | 35.1 | -15.0% | 1.9% |
🇧🇷 Brazil | 34.0 | -6.5% | 1.8% |
🇮🇷 Iran | 30.6 | 6.8% | 1.6% |
🇮🇹 Italy | 21.6 | -13.0% | 1.1% |
🇹🇼 Taiwan | 20.7 | -12.1% | 1.1% |
🇻🇳 Vietnam | 20.0 | -15.0% | 1.1% |
🇲🇽 Mexico | 18.2 | -1.9% | 1.0% |
🇮🇩 Indonesia | 15.6 | 8.3% | 0.8% |
Rest of World | 201.0 | -11.2% | 10.7% |
World Total | 1878.5 | -3.9% | 100.0% |
2022’s steel production marked a significant reduction compared to the post-pandemic rebound of 1,960 million tonnes in 2021, with a year-over-year decline of 4.2%–the largest drop since 2009, and prior to that, 1991.
This decline was spread across many of the world’s top steel producers, with only three of the top fifteen countries, India, Iran, and Indonesia, increasing their yearly production. Most of the other top steel-producing countries saw annual production declines of more than 5%, with Turkey, Italy, Taiwan, and Vietnam’s production all declining by double digits.
Even the world’s top steel-producing nation, China, experienced a modest 2% decline, which due to the country’s large production amounted to a decline of 19.8 million tonnes, more than many other nations produce in a year.
Despite India, the world’s second-largest steel producer, increasing its production by 5.3%, the country’s output still amounts to just over one-tenth of the steel produced by China.
China’s Meteoric Rise in Steel Production
Although China dominates the world’s steel production with more than a 54% share today, this hasn’t always been the case.
In 1967, the World Steel Association’s first recorded year of steel production figures, China only produced an estimated 14 million tonnes, making up barely 3% of global output. At that time, the U.S. and the USSR were competing as the world’s top steel producers at 115 and 102 million tonnes respectively, followed by Japan at 62 million tonnes.
Almost three decades later in 1996, China had successively overtaken Russia, the U.S., and Japan to become the top steel-producing nation with 101 million tonnes of steel produced that year.
The early 2000s marked a period of rapid growth for China, with consistent double-digit percentage increases in steel production each year.
The Recent Decline in China’s Steel Production
Since the early 2000s, China’s average annual growth in steel production has slowed to 3.4% over the last decade (2013-2022), a considerable decline compared to the previous decade’s (2003-2012) 15.2% average annual growth rate.
The past couple of years have seen China’s steel production decline, with 2021 and 2022 marking the first time the country’s production fell for two consecutive years in a row.
While it’s unlikely China will relinquish its position as the top steel-producing nation anytime soon, it remains to be seen whether this recent decline marks the beginning of a new trend or just a brief deviation from the country’s consistent production growth.
Visualizing Raw Steel Production in 2023
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Steel is essential for the economy due to its crucial role in infrastructure, construction, manufacturing, and transportation sectors.
This graphic breaks down the estimated global production of raw steel in 2023. The data was sourced from the U.S. Geological Survey as of January 2024.
China Produces More Than Half the World’s Steel
One major issue facing the steel industry is overcapacity in top producer China.
Steel production in China has surpassed demand in recent years, leading to downward pressure on the profit margins of steel mills worldwide.
Historically, China’s troubled real estate sector has accounted for over one-third of the country’s steel consumption. To address this issue, the Chinese government has mandated steel production cuts since 2021.
Far behind China, India is the second-biggest producer of steel, followed by Japan.
Country | Region | 2023 Production (million tonnes) |
---|---|---|
🇨🇳 China | Asia | 1,000 |
🇮🇳 India | Asia | 140 |
🇯🇵 Japan | Asia | 87 |
🇺🇸 U.S. | North America | 80 |
🇷🇺 Russia | Europe | 75 |
🇰🇷 S. Korea | Asia | 68 |
🌍 Rest of World | 420 | |
Total | 1,870 |
Infinite Recyclability
Steel is an alloy primarily composed of iron ore containing less than 2% carbon, 1% manganese, and other trace elements. It is 1,000 times stronger than iron and can be recycled over and over without sacrificing quality.
Steel is widely used in various industries. It is a fundamental material in construction, providing support through beams, internal structures, and roofing.
Moreover, steel’s corrosion-resistant properties make it ideal for water infrastructure. Stainless steel pipes are the preferred choice for underground water systems, ensuring longevity and purity in water transportation.
Additionally, most canned foods are stored in steel containers for preservation, as steel does not rust.
-
Cryptocurrency5 days ago
Visualizing the 15 Most Valuable Bitcoin Addresses
-
Crime2 weeks ago
Visualizing the Companies Online Scammers Impersonate the Most
-
Markets2 weeks ago
Comparing Saudi Aramco’s $1.9T Valuation to Its Rivals
-
Mining2 weeks ago
Visualizing Cobalt Production by Country in 2023
-
War2 weeks ago
Mapped: The World’s Largest Armies in 2024
-
Demographics1 week ago
Charted: America’s Most Popular Baby Names in 2023
-
Technology1 week ago
Visualizing the Top Countries, by Mobile Data Usage
-
Misc1 week ago
Ranked: Top 10 Deadliest Animals for Humans