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Defining Growth potential for the Steel Industry

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In modern world, steel is one of the essential materials of the world, Nearly everything around us is made of steel, with millions of people employed across the global steel industry directly working for the developmental and infrastructural growth in the world.

Since the last 35 years, the iron and steel industry has seen significant changes. With 716 MnT of steel Production in 1980 to around 1800 MnT in 2018, the Steel Industrial landscape has come a long way.

The Infrastructure employed by the industries globally, the industrial evolution over decades and the constant developments in the Steel-Making mechanism across crucial steel manufacturing regions like China, Japan, South Korea, USA and EU have collectively opened up new gateways towards Eco-Friendly and Efficient Production methods, optimizing output, setting out standards and promoting the idea of progressing constantly with respect to innovations in the Production process and consequently into the improvement of End Industrial Segments across the Construction, Automobile and Consumption sectors.

On the other hand, Pakistan still thrives as a country with solid but untapped potential. The need to adopt Cost efficient and Environmental friendly measures was never as much as it is today.

A country with most of its production concentrated around the use of re-melt-able scrap in arc and electric furnaces, Pakistan should be considering installation of Blast Furnaces and opt for use of Iron Ore, which is undoubtedly costlier considering the installation however, the threshold operational, raw material and conversion costs are much viable when compared with the current Industrial Cost structure.

Another concern faced by Industrial landscape in Pakistan is the CO2 emission through industries in Pakistan.

A great imitative has been adopted by Environmental Protection Agency (EPA) in line with the Pakistan Environmental Protection Act 1997 (PEPA) has initiated reinforcement of environment friendly technology at Taibah Steel Re-rolling mills as a model for other industrial units for better health and safety measures and set examples for other Mills to follow.

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