MUMBAI, India, Aug. 12 -- Intellectual Property India has published a patent application (202641091965 A) filed by Mugada Venkatachary; and Dr Kambagowni Venkata Subbaiah on July 29, 2026, for Forecasting India’s Steel Demand : Dis-Aggregative Approach.
Inventors include Mugada Venkatachary; and Dr Kambagowni Venkata Subbaiah.
The application for the patent was published on August 07, 2026, under issue no. 32/2026.
Abstract: Abstract : Steel is a versatile material with major influence on human lives. It is used in every aspect of our lives, right from a needle to space applications. The biggest advantage of steel is its special properties and recyclability. The development of mankind would not have been possible but for steel. The backbone of the economies across the globe both developing and developed is laid on the strength and inherent uses of steel. Steel intensity in the economy is an indicator of the development and prosperity of a nation. Steel is an intermediate product and used for producing finished goods. Its consumption is arrived at through the method of derived demand. As a result, predicting the demand for steel is more difficult and complex compared to other products. Forecasting demand for steel in India is considered necessary as steel industry is capital intensive with longer gestation periods. Keeping this in view, it is always essential to forecast the demand for steel much in advance and take appropriate actions for increasing capacity to meet the demand. It is also very important to develop a sophisticated forecasting model for arriving at steel demand projections, which will be closer to the reality. In the present study, forecasts of steel consumption have been arrived at through dis-aggregative method. In this method, steel consuming sectors have been studied for the consumption levels and growth trends. Government policies and the ongoing technological developments, which have influence on increasing steel consumption have also been studied. The growth rates of these sectors have been projected for future considering past growth trends and plans for future. In line with these projections, category-wise steel demand projections for future have been arrived at. Methods like compounded annual growth rates, correlation and regression analysis, curve fitting etc. have been used for arriving at the forecasts. These forecasts have been validated by forecasting the steel demand through aggregative approach by establishing a relation between Gross Domestic Product (GDP) and steel consumption. As GDP and its components i.e. primary (agriculture), secondary (Industry) and tertiary (service) sectors and steel consumption are closely correlated, an empirical relation has been developed for forecasting demand of steel by using suitable statistical forecasting models. The annual data of past 76 years on these parameters have been used for arriving at the forecast upto 2050. Key words : Apparent steel consumption, per capita steel consumption, long products, flat products, compounded annual growth rate, gross domestic product, primary, secondary and tertiary sectors.
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