India’s steel demand to grow 8% in 2027, fastest among major markets
Infrastructure, real estate, manufacturing and renewable energy projects to drive consumption; global demand outlook subdued by China’s slowdown
The World Steel Association (worldsteel) predicts India's steel demand will increase by 8% in 2027, reaching 186.2 million tonnes, making it the world's fastest-growing major steel market. Infrastructure spending, private real estate activity, and manufacturing expansion are driving this growth, with construction being the primary driver.
Strong private real estate demand, healthy manufacturing activity, and a growing pipeline of renewable energy projects will further support the demand. Globally, steel demand is expected to remain flat at 1,722 million tonnes in 2026 before growing 1.7% to 1,752 million tonnes in 2027. However, China's steel demand is projected to contract by 2% in 2026, with further contraction expected to 1% in 2027, as the property investment downturn persists and infrastructure investment remains negative.
India's growth trajectory is expected to remain high single-digit, contrasting with China's contraction due to adjustments in the property market. Worldsteel cautioned that the global outlook remains exposed to risks from ongoing instability in West Asia and disruptions in energy markets.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
