Green Steel Market: Key Drivers, Production Pathways, Innovations, and Offtake Sectors

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.

 

Policy frameworks like the EU Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM) are creating economic incentives for steelmakers to adopt low-carbon technologies. Simultaneously, sectors such as automotive and construction increasingly demand greener materials. Leading steelmakers are investing billions in technology development and hydrogen-ready production sites, with nearly 100 million tonnes of hydrogen-ready capacity announced globally by the mid-2030s. While these projects will initially operate using natural gas, all aim to eventually transition to low-carbon hydrogen.

 

IDTechEx projects hydrogen-based green steel production will reach 46 million tonnes by 2035. However, steel decarbonization is complex and requires multiple elements to align successfully, creating significant challenges for scaling low-carbon and green steel production.

 

This webinar draws on research from IDTechEx's latest report, "Green Steel 2025-2035: Technologies, Players, Markets, Forecasts", which provides detailed analysis of key decarbonization technologies, major player activities, market dynamics, and comprehensive 10-year forecasts broken down by technology and region.

 

In this webinar, IDTechEx Senior Technology Analyst Chingis Idrissov will provide some key insights, covering the following: