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India Steel Demand to Surge by 7.9% in 2026 Amid Global Stagnation
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News18•14-10-2026, 11:30
India Steel Demand to Surge by 7.9% in 2026 Amid Global Stagnation
- •India remains the fastest-growing major steel market globally, with demand projected to expand by 7.9 per cent in 2026 to reach 172.4 million tonnes.
- •The World Steel Association report highlights that India's growth is driven by infrastructure construction, steady private real estate, machinery investments, and automotive manufacturing.
- •Global steel demand is expected to remain essentially unchanged in 2026 at 1,722 million tonnes due to a prolonged property downturn in China and geopolitical disruptions.
- •Outside China, global steel demand is expanding by 1.5 per cent this year and is projected to accelerate to 4.0 per cent in 2027.
- •Developed nations and developing economies outside China show positive trajectories, with US demand driven by data centers and energy infrastructure.
Key Questions Answered
India's steel demand is projected to expand by 7.9 per cent in 2026 to reach 172.4 million tonnes, keeping it the fastest-growing major steel market globally.
Global steel demand will remain essentially unchanged in 2026 at 1,722 million tonnes compared to 2025, heavily weighed down by a prolonged property downturn in China and geopolitical disruptions in the Middle East.
The sustained momentum in India's steel market is driven by infrastructure construction, steady private real estate, machinery investments, and automotive manufacturing.
