3FOOD

Third Industrial Revolution Consulting Group
should not be neglected in the transition phase and should retain the attention of the
stakeholders as well.
Steel Industry
What does solar and wind technology portend for sustaining and expanding the export
potential of Luxembourg’s industrial sector? The steel industry, for example, continues to face
considerable market volatility for a number of reasons. Growth is slowing, with the following
chart showing the World Steel Association’s projection to 2030.
Steel demand outlook till 2030
2014 2030
1,537MT
(finished steel basis)
1,992 MT
(finished steel basis)
Source: Global steel World demand Steel growth Association, momentum Global to Steel stabilize Market at lower Outlook level
China OECD to show Steel a Committee steady decline Meeting Paris, 11-12 May 2015
India, ASEAN, MENA to emerge as fast growing regions
Despite the lower growth rates, the market is particularly favorable for specialty products and
high-grade steels. ArcelorMittal’s $80 billion in sales shipping 85 million tonnes 15 of value-added
steel product in 2014 would appear to be well-positioned for capturing a robust share of the 1.9
billion tonnes global steel market in 2030, despite ongoing displacement of steel products in
the materials market.
For example, steel confronts new competition from advanced ultra-light materials such as the
rising application of carbon composites in the vehicle industry. In addition, the Internet of
Diverging growth prospects of the developing economies
Things, Services, and Networks (IoT, IoS, IoN) are enabling radical makeovers not only in
products, but also in Structural the very reform nature will determine of how a growth service potential such as mobility is delivered. With the
• Brazil and Russia trapped in structural problems
scale-up of car-sharing operations, augmented by the emergence of autonomous/ driverless
• Mexico to strengthen growth potential thanks to strong reform agenda
vehicles, there is likely to be a decline in private car ownership, with a consequent drop in
• MENA outlook weakened by low oil prices and geopolitical instability
vehicle manufacturing • ASEAN levels countries and the with demand reform agenda for will steel. outperform Carbon others composites and lighter weight
aluminium further diminish • India getting the ready percentage for a take off with of steel renewed used reform in initiatives cars, although specialized, highvalue
steel materials will continue to compete for key components of vehicles.
Steel
GDP/capita Urbanisation Population
use/capita
(thou USD) (%) (million)
(kg)
2014 2030 2015 2030 2014 2030 2014
India 1.6 9.5 33 40 1267 1476 59
Indonesia 3.4 12.3 54 63 253 293 54
Vietnam 2.0 8.1 34 43 93 102 138
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