20% of EU steel and aluminum production - European Commission proposal by 2030
A European Commission proposal aimed at reindustrialising and decarbonising the bloc's heavy industry to combat fierce competition from China and the United States has been postponed for a second time and is now due to be presented on 25 February.
The steel and cement industries are expected to play a key role in boosting the European Union's economy and are projected to contribute at least 20% to the bloc's total economic output by 2030.
The EU executive wants to revive manufacturing capacity across the bloc, reversing a long decline that has seen the bloc's share of global industrial output fall from 20.8% in 2000 to 14.3% in 2020.
While the overall process of reindustrialization may raise prices, the EU is prioritizing strengthening its industry and reducing dependence on countries such as China and the United States.
Some analysts say the real challenge lies in building alternative supply chains, noting that European industry will need financial support to maintain desired production levels. To address the problem, the Commission aims to create so-called "lead markets" to align supply and demand.
The Commission is also considering including industries beyond construction and infrastructure, namely those that use EU-produced materials, low-carbon materials or both. The decision to do so will be based on how much they support and drive demand for energy-intensive materials.
When deciding which new industries to include, the Commission will take into account the importance of the energy-intensive material compared to the total value of production of a given industry. The EU executive will also assess how much demand for a given material an industry creates, especially as it grows.
The Commission's proposal also includes suggestions to support the construction of nuclear power plants and the production of hydrogen electrolyzers to produce clean hydrogen.
The Commission argues that the EU's long-term sovereignty and the sustainability of the sector "depend on new electrolysers being supplied with their components mainly from within the Union".
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