WEMO 2025 (complet) - Flipbook - Page 62
02 Critical resources
As a result, supply is consistently misaligned with demand
There is a persistent misalignment between production capacity
and a growing market demand.
Even in sectors characterized by overcapacity - such as the European
steel industry - shortages can still occur. This paradox is often the
result of "stop-and-go" production strategies deliberately
employed to in昀氀uence market prices by restricting supply.
This dynamic helps explain why steel shortages can arise despite an
overall surplus in production capacity.
Estimates - annual growth rates (2025–2050) for estimated demand and
production – depending on scenarios
Resources
Demand CAGR (%)
Production CAGR (%)
Steel
1.3
1.2
Copper
2
1.35
Nickel
4.5
3
Aluminum
1.6
1.5
Source: Capgemini analysis, IEA, Critical Mineral Outlook, 2024, RMG Consulting – Future Mine &
Mineral 2024 Conference , 2024; International Energy Agency (IEA) – Global Critical Minerals
Outlook 2024, Strategic Insights from World Steel Dynamics
