Steel
Steel in the Philippines
Quoting the president of the Philippine Iron & Steel Institute, the South East Asia Iron and Steel Institute highlighted that “the share of the infrastructure sector in the country's GDP has seen a significant increase, from 3-4% five years ago to 5.5-6% in 2023.”
But, the Philippines currently imports much of its steel due to the fact that “there are only two-three electric arc furnaces” and that “there is no blast furnace in the country.”
As the government is actively seeking to reduce dependence on imports, this could be another potential area for additional growth.
Three key takeaways
Decarbonising steel: Forging new paths together
While steel offers excellent formability and durability, there is a downside: the industry, from mining to production, has one of the highest carbon emission footprints – with steel accounting for around 10% of global carbon dioxide (CO2) emissions.
This report aims to reflect the views of the industry on how to accelerate decarbonisation and achieve net-zero emissions.
Shell provides power to industrial partners across the Philippines – want to join them?
Power is needed to fuel growth, but the right power partner can help you to achieve that growth in the right way for your business.
These are just some of the industry-specific reports that Shell has produced to give you additional insights, but do you want more detailed help on how Shell Energy can support your business – whatever your industry?
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