Another critical area of innovation in the steel industry is the push towards sustainable and eco-friendly practices. With steel production accounting for a significant portion of global carbon emissions, the sector is under increasing pressure to adopt greener technologies.

Several steel companies are investing in research and development to produce "green steel," which involves using renewable energy sources, carbon capture and storage technologies, and circular economy principles. For instance, some companies are experimenting with hydrogen-based direct reduction iron (DRI) processes, which could significantly reduce emissions compared to traditional blast furnaces.