Stainless Steel Renewable, the Future of Stainless Steel

Stainless Steel Renewable, the Future of Stainless Steel

Due to its sheer strength, versatility and resistance to corrosion; stainless steel is quite literally everywhere. For more than a decade now, this adaptable material has formed an integral part of the world’s construction industries, transportation sectors, medical practises and household appliances. Most of the planet’s most impressive and grandest architectures incorporate some form of steel within their structures; with more than 1.3 billion tons of the metal being produced every year.

Steel Wind Turbine

But what does the future hold for stainless steel? Will this metal remain essential to modern life as we know it and help build a sustainable future? Now more than ever, the global environment is a huge concern and an important challenge for businesses across the world. It is vital that we all do as much as we can to protect the climate and increase our use of renewable energy sources. So what part will steel have to play in this and what are the financial implications to the industry? Global markets and demand are frequently fluctuating, but industry leaders seem confident that the future of steel is a promising one.

The European Commission’s Action Plan

The requirement for European steel companies to incorporate sustainable and environmentally friendly manufacturing processes has meant more money is being spent on energy supplies. This, coupled with a dip in demand in recent years, has meant the European industry has taken a hit somewhat; despite still being the second largest producer of steel worldwide. Global demand is expected to rise again by 2025 and so the European Commission have developed an action plan to ensure the correct foundations are in place for the future. This plan proposes to ensure all EU steel companies have access to third world markets via fair trade practises and will heavily promote innovation, energy efficiency and employment.

Helping to Establish Renewable Energy Supplies

Wind power and wind farms are beginning to play a major role in the development of renewable energy supplies. One wind turbine alone can utilise over 140 tonnes of steel, whilst a typical off-shore wind farm can use anywhere up to and above 10,000 tonnes of steel. As plans are in place to build and use more wind farms, it is clear to see that steel still plays a vital role in the future of our environment and economy. Here’s to a renewable future…