Substitution trends in Steel industry

An economic analysis of general trends determining to what extent the reduction in steel intensity in the industrialized countries is ascribed to the substitution of steel for other materials, such as aluminum, plastics, cement and wood, has been published by the International Iron and Steel Institute of Brussels. The study, Intermaterial Competition: An Analysis of General Trends, examines those trends during the past 15 years.

While there is a general decline in the material intensity of economic growth, steel use has been affected more in terms of weight than materials such as plastics and aluminum. Certain other materials are considered lighter, have better corrosion resistance and ease of formability.

Although steel remains in most market segments the foremost material, the advance of other materials is particularly noticeable in the areas of transport equipment, packaging and containers, and in machinery manufacture. Combined, these sectors absorb one-third to one-half of an industrial country’s steel consumption.