Skip to main content
Policy paper

Annex C: UK Steel Strategy Demand Assessment

Updated 20 March 2026

This was published under the 2024 to 2026 Starmer Labour government

© Crown copyright 2026

This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk.

Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.

This publication is available at https://www.gov.uk/government/publications/steel-strategy/annex-c-uk-steel-strategy-demand-assessment

Introduction

The UK steel strategy demand assessment report is only one of a variety of sources of evidence used to inform the steel strategy.

Forward-looking information is based upon Hatch’s beliefs, estimates and opinions at the time they were made. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information.

Long-term demand forecast methodology

Product driver identification

  • Scope definition: define scope by identifying clear boundaries for the product scope, ensuring that insights were delivered in the most impactful areas.
  • Industry identification: establish key industries that utilise each product.
  • Demand driver identification: establish a key driver for each industry as a proxy for steel demand growth trend.

Baseline data

  • Data gathering and baseline establishment: utilise Hatch analysis to forecast the baseline data between 2017 and 2024 to showcase current demand for selected products.
  • Industry allocation: split and allocate overall product demand data based on demand of each industry.

Forecasting

  • Secondary data collection: conduct secondary research to investigate to provide an evidence-backed forecast through 2050. Sources can include policies as well as planned projects and third-party market analyses.
  • Demand forecast: apply growth rates from demand drivers in addition to further Hatch analysis to project these product demand.
Back to top