The European steel industry is expected to decarbonize 45% of current production within ten years. According to the GMK Center's study, by 2035, the EU will produce 27 million tons of low-carbon steel and 29.6 million tons of green steel.

The analysis only considers steel production that physically reduces CO2 emissions, arguing that emissions reductions through special certificates do not constitute decarbonization.

At present, the main decarbonization technology in the EU is to replace blast furnaces and oxygen converters with DRI facilities and electric arc furnaces. It is predicted that by 2030, related reconstruction projects will have a production capacity of 25.8 million tons of DRI/hot briquetted iron.

New projects also include the construction of hydrogen-based DRI plants and electric arc furnaces equipped with modern energy infrastructure. Ukraine can support the green transformation of the European metallurgical industry by providing raw materials for DRI production. Besides, Europe has allocated EUR 14.6 billion to decarbonize the steel industry so far.