The PwC study declares Central Europe’s traditional steelmaking economically unviable post-2040. Rising carbon costs double production expenses, while the Carbon Border Adjustment Mechanism fails to offset energy cost gaps. Gulf states & India emerge as green steel powerhouses, exploiting cheaper gas & hydrogen. Europe must pivot to scrap-based EAF production & high-value manufacturing, investing in R&D & industrial clusters to sustain competitiveness through knowledge-intensive specialisation.