In an interview with CNBC's Maria Bartiromo, Mittal joined John Surma, chairman and CEO of U.S. Steel, to discuss the key drivers of their businesses.
Mittal pointed to infrastructure needs as the primary stimuli for the industry's next, untapped customer base.
"Infrastructure is lagging," Mittal declared. "All the countries in the world need to spend a lot of money on infrastructure. ...Even in the U.S., there is a lack of infrastructure -- we can see the problems in transportation and railways." He sees the same potential in Europe and "strong demand" for construction steel in the Middle East.
He described advances in manufacturing technology that have produced lighter, stronger and safer steel compounds for automobiles. To further those advances, he announced, "We are spending a lot of money on R&D."