According to the South East Asia Iron and Steel Institute (SEAISI), crude steel production in Southeast Asia could increase by 90.8 million tons by 2026, reaching 162.6 million tons.

The growth in crude steel production will be contributed by Indonesia, Malaysia, and Vietnam, mainly invested by Chinese enterprises.

With the increase in steel production capacity, the steelmaking routes in Southeast Asia will shift from the electric arc furnaces to the blast furnace-basic oxygen furnace (BF-BOF) route, which meant that carbon dioxide emissions will increase. Therefore, the increased carbon emissions will be eliminated by emissions reduction technologies, such as carbon capture and utilization and storage (CCUS).