Global megatrends affecting SSAB

Climate change and resource scarcity

Description

  • Increasing consumption of world’s natural resources
  • To meet the goals set in the Paris Agreement, global greenhouse gas emissions need to be radically reduced in order to limit global warming

Impacts on steel industry dynamics

  • Increased demand for sustainable, recyclable material, e.g. steel
  • Cost of carbon emissions
  • Optimization of available steel capacity to promote more resource and CO2 efficient products/processes (e.g., China closing down overcapacity and environmentally inefficient production)

SSAB's response

  • Helping customers to innovate their products and reducing their CO2 footprint through upgrading to high-strength steel

SSAB works toward a fossil-free steelmaking process through the HYBRIT initiative and by eliminating other fossil related emissions, with a goal to be able to offer fossil-free steel to the market in 2026 and become fossil-free throughout our entire operation by 2045

Population growth and urbanization

Description

  • Growing global population
  • Rapid urbanization primarily taking place in developing countries
  • Urban areas need to be continuously developed to manage the increasing complexity

Impacts on steel industry dynamics

  • Increased demand for steel in construction, infrastructure and energy sector
  • Increased demand for sustainable and energy-efficient buildings

SSAB's response

  • Developing new products and offerings to meet challenges of the future
  • Offering broad spectrum of products to be used in construction and infrastructure, as well as in construction machinery, renewable energy plants

Digitalization

Description

  • New technologies available at affordable cost
  • Digitalization impacting the business model for most companies

Impacts on steel industry dynamics

  • More efficient operating practices available
  • Digital services adding more transparency in the value chain
  • E-commerce and trade platforms impacting demand-supply dynamics

SSAB's response

  • Using robotics, machine learning and advanced analytics to improve production stability and process efficiency
  • Renewing digital service portfolio to improve customer experience
  • Developing new digital tools such as SSAB SmartSteel to help customers realize the full potential of our steel

Changing geopolitical landscape

Description

  • Increasing protectionism, e.g., trade protection measures
  • Increased steel demand in developing economies

Impacts on steel industry dynamics

  • Higher importance of regional markets
  • Restrictions on trade and other cross-border flows

SSAB's response

  • Securing leadership positions in our home markets with cost leadership and preferred supplier status
  • Taking an active stance for free and fair trade
  • Advancing SSAB’s position in emerging markets for high-strength steels
  • Improve production capabilities, so that each site can cover a broader product range
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