Steel is one of the most important materials for construction and consumer products. Increasing consumer demand has boosted worldwide investments and expansion of steel producing units. Additionally, demand in terms of quality makes the market very competitive. In the leading countries, Research and Development (R&D) infrastructure hasbeen established for achieving innovation in steel manufacturing processes and meeting the quality demands. However, developing countries mostly are lacking in effectiveR&D environment; such a situationmakes them less adaptive to the latest trends in steel manufacturing and consequently have a lessmarket share, in particular, of high-quality products. This paper presents state-of-the-art steel production, new investments, and the role of R&D in transforming the manufacturing processes. The Iron and Steel Institute of