Marketing

Carbon steel

Composite number

Engineering

Low-carbon economy

Ecology

Biology

Environmental economics

Metallurgy

Materials science

China

Economics

Carbon fibers

Business

Waste management

Greenhouse gas

Climate change

Mathematics

Politics

Political science

Environmental science

Geometry

Composite material

Carbon capture and storage (timeline)

Corrosion

Natural resource economics

Investment (military)

Cost reduction

Reduction (mathematics)

Renewable and Sustainable Energy Reviews

The iron and steel industry (ISI) is energy-intensive and is responsible for approximately 25% of the global direct greenhouse gas (GHG) emissions from industrial sectors. As the largest steel producer and consumer, China bears the primary responsibility for saving energy and reducing GHG emissions; accordingly, they have developed many strategies for GHG abatement. However, owing to the high investment costs and long equipment service lives, the ISI must carefully weigh the cost and emission reduction potential of these approaches. This review discusses research findings aimed at technological improvements and ultra-low carbon technologies relevant to the ISI, emphasizing their cost-effectiveness and development prospects. Based on the life cycle analysis method, this review establishes a comprehensive analytical framework to integrate the results from different studies to consider more factors in the design of GHG emission reduction strategies. The results indicate that the full application of mainstream technological improvements can reduce CO2 emissions by approximately 43%. Furthermore, combining these strategies with ultra-low carbon technologies can achieve a reduction of 80%–95%. The marginal cost reduction associated with implementing such technological improvements is in the range of −5 to 0.5 USD/kgCO2. Applying carbon capture, utilization, and storage strategies or hydrogen-based technologies in China's ISI for deep decarbonization scenarios is expected to lead to cost reductions between 12 and 35 billion USD by 2050. We propose that China's ISI requires technological improvements in the short term and should prioritize ultra-low carbon technology development for the long term.

A review of CO2 emissions reduction technologies and low-carbon development in the iron and steel industry focusing on China