Recent forecasts (Hatch Consulting Group) estimate that global demand for steel could grow by a third – nearly 500m tons – by 2030, mainly driven by construction, infrastructure, automotive, energy and capital goods. So why do we hear so much negative news about this vital industry, and how can it return to profitability?
Manufacturing has been earmarked by the World Economic Forum and the European Union as a major driver of increased employment opportunities, reduced carbon emissions and better educational prospects for young people. This huge ambition largely rests on the advent of the smart factory and the rollout of Industry 4.0, which will make manufacturing more affordable in high-wage countries.
With Donald Trump now sworn in as the 45th President of the United States of America, questions remain as to how the new administration will implement its manufacturing and trade policies and what impact these will have.