In our lives, steel has a major influence as whatever we are surrounded by, like the cars, houses, offices, roads etc, we find the existential value of steel. The contemporary world today, depends upon the outline of steel and the future of infrastructural development has the unimagined technological excellence in stores for the world.
A country like India, exploring new horizons by constructing new milestones in infrastructural advancements and is becoming one of the fastest emerging nation in the world; steel plays a very significant role. Steel is undoubtedly the most multifaceted, simply adaptable, easily molded and innumerably recycled metal. Steel can be called the spinal column of every developed or developing economy as their strength is parallel to the strength and uses of steel.
There are reasonable qualities why steel is measured as the most versatile metal of all ages. These are as follows:
- Powerful reinforcement ingredient
- Malleability & Flexile strength
- Weldability & Ductility
- Easily transformed in tiniest machine tools
- Resistant to tough and wear ability
- Resistant to corrosion
- Resistance to high temperatures
- Main constituent of Smart City foundation
The other significant feature is that steel is considered as a low cost production input. In comparison to aluminum, steel extraction from iron ore costs 25% than extraction of aluminum. Additionally, steel is environment friendly due to its recycling ability which is near to innumerable. According to the industry research, the production of steel is 20% higher than the production of all non-ferrous metals altogether. And this statistics is thought to achieve substantial growth in the coming years.
New innovations and technologies are being developed by India which have international standards and strive to rank India in the top steel producing nation among the developing economies. In India, there are 2000 grades of steel and among them, 1500 steel grades are of high grade quality.
Now, the dominance of steel as the most produced metal shall be maintained only if the demand and consumption matches the potential of manufacturing high end steel and its subsidiary products. For this, India has to keep on revolutionizing new alloy techniques and enhancing its efficacy and usability worth. Steel producing companies are looking forward to investor-friendly policies and amendments so as to compete with the global steel powers and manufacture world-class steel domestically. India, in coming times, is projected to augment its steel exports to the highest in comparison to other developing South-east economies. Let us hope that steel flourishes to become the most sought after metal in constructing an India of robust foundations that are compatible to withstand global transitions in steel industry.