What is the stainless steel market growth? Data collection and base year analysis is done using data collection modules with large sample sizes. 
Supplier assessment is powered by worlds leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus, Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography, Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. 2022 MetalMiner All rights reserved. Long products are widely used in industries such as textile, automotive, defense, shipbuilding, cement, fabrication, paper & pulp, and earth-moving machinery.
The global stainless steel market size was valued at USD 104.23 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030. For instance, in February 2021, Jindal Stainless announced a capex plan for its Odisha stainless steel plant worth Rs. Through incorporating the Web's immediacy with the power of streaming audio and video, Data Bridge Market Research Webinars are one-hour, topic-specific seminars filled with the knowledge and perspectives needed to tackle business needs in the real world. Terms and Conditions, Unlocking New Opportunities on this Report Post Covid-19. It includes heavy fund allocation for repair and renovation of bridges, highways, EV charging facilities, airports, water infrastructure, communication networks, high-speed Internet, clean energy & environment, and carbon reduction. 
Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. 
The market data is analyzed and estimated using market statistical and coherent models. The key driver of the stainless steel industry is the increasing demand from downstream industries such as agriculture, processing industry, consumer products, and construction industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications. DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies. 
The manufacturing sector has been worst hit with the current pandemic situation as manufacturers of non-essential goods have shut down their manufacturing facilities in compliance with the government norms for lockdown. By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research
About 72 percent of the global stainless steel demand during 2017 was from Asia (27.04 MMT). 
300 series dominated the stainless steel market with a share of 49.7% in 2019. b.
The market constraints are current supply gut, low profit margins, and cost of logistics. The market size in the APAC region was at 27.04 MMT in 2017 and was expected to grow at 3 percent between 2017 and 2019. This is attributable to high corrosion resistance and temperature resistance and wide use in heavy industry and automotive applications. The increase in urbanization and modernization globally are the main reasons for this growth. Regional Market Outlook-APAC, americas, EU, Information relating to market, supply, cost, and pricing analysis, Hard to find data on cost and TCO models, supplier details, and performance benchmarks, Macroeconomic and regional trends impacting cost, supply, and other market dynamics, Category-specific negotiation and sourcing advice, Asia would continue to dominate the market in terms of growth prospects until 2019, China's production of crude stainless steel totaled 26.7 million tons in 2018, higher by 933,000 tons or 3.6% on year, In the Americas, the demand for stainless steel was at 3.97 MMT for 2017, driven by higher investments in the automotive and manufacturing sector, Stainless steel production in the US reached 3.28 million metric tons in 2017 and is estimated to increase with a CAGR of 2-3%, About 72 percent of the global stainless steel demand during 2017 was from Asia (27.04 MMT). Furthermore, theincreasing investment in research and development by the manufacturer has helped in the development of advanced techniques to enhancing the properties of stainless steel which further extends profitable opportunities to the market players in the forecast period of 2022 to 2029. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. These products are hot rolled and cold rolled and have properties such as corrosion resistance, high strength, and great thickness. LME nickel price is down in February, amid continued pressure in the base metals caused by the risk-off mood outside China. Insights, Procurement
The countries covered in the stainless steel market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. Increasing investment in research and development, Precipitation-Hard enable Stainless Steels, Jinchuan Group International Resources Co. Ltd (China), Sherritt International Corporation (Canada).
As a result, the market is projected to have an accelerated growth over the forecast period. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies.
For instance, as per the International Stainless Steel Forum (ISSF), SS melt shop production increased by around 11.0% on a y-o-y basis, through the first quarter of 2021. DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem. Your transaction & personal information is safe and secure. This was driven by robust growth due to solid infrastructure and property sectors, The market size in the APAC region was at 27.04 MMT in 2017 and is expected to grow at 3 percent between 2017 and 2019, Growth in the consumption of chemical/petrochemical and energy, consumer goods and medical and automotive and heavy transport mainly contributed to the increase in consumption in APAC, Growth of stainless steel industry in America was mainly impacted by the continuation of strong dollar and weak-exporting demand for the year 2017, In the EU, stainless steel consumption was valued at 7.3 MMT in 2017, an increase of 4.4 percent from 6.99 MMT in 2016. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. See for yourself. Complimentary 12-month access to Beroe LiVE, Rethinking Digital Procurement: Joins us for a discussion on July 27. Suppliers in emerging economies are rapidly adopting technologies to improve efficiency and increase the production capacities, For the past 1218 months, steel suppliers are experiencing lower margins, due to the falling prices.
Other than chromium, nitrogen and molybdenum are also added to this alloy. We can add as many competitors that you require data about in the format and data style you are looking for. Beroe, News &
The report further covers the price trend and forecast across different regions such as the U.S., Europe, and Asia. Additionally, the rising use of renewable energy and growth in residential, public, and commercial construction and reconstruction projects will also drive market value growth. Our analysts take pride in our clients success. and
The risk analysis mentioned in the report gives a detailed analysis of the various risks associated with the stainless steel market ranging from fluctuations in supplier pricing, overpaying, etc. Espresso, About
SS flat products are widely used in mechanical parts and industrial tools along with construction and structural applications.
Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE. Revenue in USD Billion, Volumes in Units, Pricing in USD, Product (Flat Products, Long Products, Bars/ Wire Rods, Hot Bars/ Wire Rods, Cold Bars/ Wire Rods, Cold Rolled Flats, Coils, Sheets, Strips, Hotplates And Sheet, Hot Coils, Tubes, Castings, Others), Type (Austenitic Stainless Steels, Martensitic Stainless Steels, Ferritic Stainless Steels, Precipitation-Hard enable Stainless Steels, Duplex Series), Grade (200 Series, 300 Series, 400 Series, Duplex Series),Application (Automotive and Transportation, Building and Construction, Consumer Goods, Heavy Industries, Metal Products, Other Applications), U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa, DuPont (U.S.), DOW (U.S.), Umicore (Belgium), Glencore (Switzerland), Jinchuan Group International Resources Co. Ltd (China), Huayou Cobalt Co., Ltd (China), Freeport Cobalt (Finland), Sherritt International Corporation (Canada), SOLVAY (Belgium), DAIKIN (Japan), BHP (Australia), Eramet (France), Vale (Brazil),Votorantim Metais SA (Brazil), and Sumitomo Corporation (Japan). This is due to the fact that the carbon fibers are lightweight, have high strength bearing capacities and load-bearing capacities. Stainless steel production in the US reached 3.28 million metric tons in 2017 and is estimated to increase with a CAGR of 2-3%. 
More than 60% of the smaller LF-type rods come from China. Additionally, the expansion of cold-rolled facilities is also expected to remain a vital factor for the growth of the market. Furthermore, with increasing public infrastructure development, China and India are poised to lead the stainless steel market growth. The U.S. stainless steel market is expected to be driven by the demand for mechanical, chemical, and energy applications. As there is not much demand and less supply because of the uncertainty due to the virus outbreak, prices are expected to decrease in short term. Capabilities include: raw material should cost models (yes, for stainless! Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rise in construction activities as a result of rising population coupled with the presence of major players in the region. Moreover, the flourishing automotive industry along with the rising demand for energy and water will likely drive the demand for stainless steel in the near future. Increasing application in pre-engineered buildings is likely to drive market growth during the coming years. This 18-8 alloy is similarly operative in the brewing business where it is used in storage & transport cars, fermentation vats, yeast pans, and pipelines. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. Coverage of Data Bridge is not restricted to developed or emerging economies. and
We deliver intelligence, data, and insights that enable companies to make smarter sourcing decisions leading to lower cost, reduced risk, and greater profits. While companies have reduced short-term revenue targets, the stainless steel market outlook for 2022-2028 remains bullish. | Media Kit | Cookie Consent Settings | privacy policy | terms of service, Javascript must be enabled in your browser, Steel, Aluminum, Copper, Stainless, Metal Prices & Forecasting| MetalMiner, Annual Metals Price Forecasting Outlook Report 2021, Should-Cost Models: The Ultimate Savings Hack, What Every Executive Team Wants from Procurement, Five Ways Svc Centers Hose You on Purchases, Estimating Stainless Steel Costs Becoming More Complicated, Stainless MMI: Nickel prices trade down but remain elevated amid lower LME volumes, Stainless MMI: Trading halted following nickel price spike, Environment driving BHPs investments in nickel, Prepare now so you dont lose money when steel prices spike, Learn how mills and service centers mess with you and how to deal with it, See how to buy in up, down, and sideways price markets using price indexes, Discover the 5 best practices of metal sourcing, 4 pieces of critical data your executive team wants to know about your category sourcing efforts. The construction industry is one of the major end-users of stainless steel. In todays world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. It is an environmentally inert and neutral alloy, which means that it is infinitely recyclable. The stainless steel market is expected to grow at a compound annual growth rate of 8.9% from 2022 to 2030 to reach USD 223.60 billion by 2030. b. What are the factors driving the stainless steel market. Characteristics such as easy fabrication, corrosion resistance, and aesthetic appeal are likely to contribute to the demand for consumer goods; thus, positively influencing the market growth. The stainless steel market competitive landscape provides details by competitor. Building & construction is one of the important applications of stainless steel. 
Increasing demand from downstream industries, such as agriculture, processing industry, consumer products, construction industry, is expected to be the primary driver of stainless steel industry, Increased focus on reducing the total ownership cost of stainless steel-making process has led to the adoption of newer technologies and the use of more energy-efficient fabrication and manufacturing processes, The development of newer technologies is driven by the need to attain lower cycle times in the manufacturing process. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. This website is secure and your personal details are safe. This plan is likely to assist the SS demand for structural applications in infrastructure and construction. Get your copy now to gain deeper insights on the same. and 6. 2000-3000 crore (~ USD 261.8-392.7 million) over the next few years. What are the major countries covered in the Market? For this study, Grand View Research has segmented the stainless steel market report based on the grade, product, application, and region: Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Mechanical Engineering & Heavy Industries, Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030). This is due to stringent measures adopted by the authorities, in order to curtail pollution levels.
An increasing share of India and ASEAN countries in the demand for SS is likely to contribute to the expansion of the Asia Pacific SS market. The Baltic Dry Index acts as an indicator of measuring logistic costs of dry bulk category, such as steel. 
Superior product properties such as high strength, low weight, and high corrosion resistance, particularly stress corrosion cracking, are expected to drive product demand during the forecast period. The pandemic crisis has had a significant impact on the growth of the stainless steel market in the year 2020, owing to a significant decrease in demand from various end use sectors.
Grade 303in the series is used almost entirely for every movable part requiring polishing, grinding, and machining where good corrosion resistance is also compulsory. We value your investment and offer free customization with every report to fulfil your exact research needs. The above data points provided are only related to the companies' focus related to stainless steel market.
It has fairly good forming properties used for aircraft components, also valves, shafts, valve trim, gears, and all types of screw machine products. 
The recent outbreak of coronavirus had a negative impact on the stainless steel market. The stainless steel market size was estimated at USD 104.23 billion in 2021 and is expected to reach USD 111.45 billion in 2022. b. The consumer goods segment dominated the market and accounted for the largest revenue share of above 37.0% in 2021. The stainless steel market is segmented on the basis of application into automotive and transportation, building and construction, consumer goods, heavy industries, metal products and other applications. These products are used in grills, fasteners, and machining applications along with the production of parts for automotive and machinery & equipment. In terms of volume, Europe is expected to reveal a 5.6% CAGR during the forecast period. DMCA Protected DataBridge - All Rights Reserved. Americas growth was hit due to low demands for exports. Superior properties of the product such as high strength, low weight, and high corrosion resistance particularly stress corrosion cracking is anticipated to drive product demand in the forecast period.
Free upgrade to enterprise license (allows to share across all company locations), 5.
Furthermore, the increasing industrialization across the globe coupled with the growing power consumption coupled will further propel the growth rate of stainless steel market.
Which segment accounted for the largest stainless steel market share?
All of this is discussed in detail as below: The global stainless steel market is expected to grow at a significant rate during the forecast period due to its increasing application in various industries such as chemical industries, petrochemical industries, oil and gas industries, food and beverage industries, and power generation industries. For instance, global automobile production declined by 16.0% in 2020 as per the International Organization of Motor Vehicle Manufacturers (OICA). This was mainly due to the energy absorption capacity and high strength to weight ratio to improve the crash effectiveness of the coach.
Stainless steel contains a variety of materials that when the fused result in a power alloy. Data Bridge Market Research is a leader in advanced formative research. Carbon fibers decrease the weight of vehicles by nearly 30% thus making it highly preferable in the automotive sector. Category Intelligence on Stainless Steel covers the following. Nickel prices play a large role in 300 series stainless steel prices. Please fill out the form below for a free PDF report sample &
Supplier assessment is powered by worlds leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus, Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography, Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. 2022 MetalMiner All rights reserved. Long products are widely used in industries such as textile, automotive, defense, shipbuilding, cement, fabrication, paper & pulp, and earth-moving machinery.
The global stainless steel market size was valued at USD 104.23 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030. For instance, in February 2021, Jindal Stainless announced a capex plan for its Odisha stainless steel plant worth Rs. Through incorporating the Web's immediacy with the power of streaming audio and video, Data Bridge Market Research Webinars are one-hour, topic-specific seminars filled with the knowledge and perspectives needed to tackle business needs in the real world. Terms and Conditions, Unlocking New Opportunities on this Report Post Covid-19. It includes heavy fund allocation for repair and renovation of bridges, highways, EV charging facilities, airports, water infrastructure, communication networks, high-speed Internet, clean energy & environment, and carbon reduction. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. The market data is analyzed and estimated using market statistical and coherent models. The key driver of the stainless steel industry is the increasing demand from downstream industries such as agriculture, processing industry, consumer products, and construction industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications. DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies. The manufacturing sector has been worst hit with the current pandemic situation as manufacturers of non-essential goods have shut down their manufacturing facilities in compliance with the government norms for lockdown. By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research
About 72 percent of the global stainless steel demand during 2017 was from Asia (27.04 MMT). 300 series dominated the stainless steel market with a share of 49.7% in 2019. b.
The market constraints are current supply gut, low profit margins, and cost of logistics. The market size in the APAC region was at 27.04 MMT in 2017 and was expected to grow at 3 percent between 2017 and 2019. This is attributable to high corrosion resistance and temperature resistance and wide use in heavy industry and automotive applications. The increase in urbanization and modernization globally are the main reasons for this growth. Regional Market Outlook-APAC, americas, EU, Information relating to market, supply, cost, and pricing analysis, Hard to find data on cost and TCO models, supplier details, and performance benchmarks, Macroeconomic and regional trends impacting cost, supply, and other market dynamics, Category-specific negotiation and sourcing advice, Asia would continue to dominate the market in terms of growth prospects until 2019, China's production of crude stainless steel totaled 26.7 million tons in 2018, higher by 933,000 tons or 3.6% on year, In the Americas, the demand for stainless steel was at 3.97 MMT for 2017, driven by higher investments in the automotive and manufacturing sector, Stainless steel production in the US reached 3.28 million metric tons in 2017 and is estimated to increase with a CAGR of 2-3%, About 72 percent of the global stainless steel demand during 2017 was from Asia (27.04 MMT). Furthermore, theincreasing investment in research and development by the manufacturer has helped in the development of advanced techniques to enhancing the properties of stainless steel which further extends profitable opportunities to the market players in the forecast period of 2022 to 2029. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. These products are hot rolled and cold rolled and have properties such as corrosion resistance, high strength, and great thickness. LME nickel price is down in February, amid continued pressure in the base metals caused by the risk-off mood outside China. Insights, Procurement
The countries covered in the stainless steel market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. Increasing investment in research and development, Precipitation-Hard enable Stainless Steels, Jinchuan Group International Resources Co. Ltd (China), Sherritt International Corporation (Canada).
As a result, the market is projected to have an accelerated growth over the forecast period. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies.
For instance, as per the International Stainless Steel Forum (ISSF), SS melt shop production increased by around 11.0% on a y-o-y basis, through the first quarter of 2021. DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem. Your transaction & personal information is safe and secure. This was driven by robust growth due to solid infrastructure and property sectors, The market size in the APAC region was at 27.04 MMT in 2017 and is expected to grow at 3 percent between 2017 and 2019, Growth in the consumption of chemical/petrochemical and energy, consumer goods and medical and automotive and heavy transport mainly contributed to the increase in consumption in APAC, Growth of stainless steel industry in America was mainly impacted by the continuation of strong dollar and weak-exporting demand for the year 2017, In the EU, stainless steel consumption was valued at 7.3 MMT in 2017, an increase of 4.4 percent from 6.99 MMT in 2016. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. See for yourself. Complimentary 12-month access to Beroe LiVE, Rethinking Digital Procurement: Joins us for a discussion on July 27. Suppliers in emerging economies are rapidly adopting technologies to improve efficiency and increase the production capacities, For the past 1218 months, steel suppliers are experiencing lower margins, due to the falling prices. Other than chromium, nitrogen and molybdenum are also added to this alloy. We can add as many competitors that you require data about in the format and data style you are looking for. Beroe, News &
The report further covers the price trend and forecast across different regions such as the U.S., Europe, and Asia. Additionally, the rising use of renewable energy and growth in residential, public, and commercial construction and reconstruction projects will also drive market value growth. Our analysts take pride in our clients success. and
The risk analysis mentioned in the report gives a detailed analysis of the various risks associated with the stainless steel market ranging from fluctuations in supplier pricing, overpaying, etc. Espresso, About
SS flat products are widely used in mechanical parts and industrial tools along with construction and structural applications.
Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE. Revenue in USD Billion, Volumes in Units, Pricing in USD, Product (Flat Products, Long Products, Bars/ Wire Rods, Hot Bars/ Wire Rods, Cold Bars/ Wire Rods, Cold Rolled Flats, Coils, Sheets, Strips, Hotplates And Sheet, Hot Coils, Tubes, Castings, Others), Type (Austenitic Stainless Steels, Martensitic Stainless Steels, Ferritic Stainless Steels, Precipitation-Hard enable Stainless Steels, Duplex Series), Grade (200 Series, 300 Series, 400 Series, Duplex Series),Application (Automotive and Transportation, Building and Construction, Consumer Goods, Heavy Industries, Metal Products, Other Applications), U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa, DuPont (U.S.), DOW (U.S.), Umicore (Belgium), Glencore (Switzerland), Jinchuan Group International Resources Co. Ltd (China), Huayou Cobalt Co., Ltd (China), Freeport Cobalt (Finland), Sherritt International Corporation (Canada), SOLVAY (Belgium), DAIKIN (Japan), BHP (Australia), Eramet (France), Vale (Brazil),Votorantim Metais SA (Brazil), and Sumitomo Corporation (Japan). This is due to the fact that the carbon fibers are lightweight, have high strength bearing capacities and load-bearing capacities. Stainless steel production in the US reached 3.28 million metric tons in 2017 and is estimated to increase with a CAGR of 2-3%. More than 60% of the smaller LF-type rods come from China. Additionally, the expansion of cold-rolled facilities is also expected to remain a vital factor for the growth of the market. Furthermore, with increasing public infrastructure development, China and India are poised to lead the stainless steel market growth. The U.S. stainless steel market is expected to be driven by the demand for mechanical, chemical, and energy applications. As there is not much demand and less supply because of the uncertainty due to the virus outbreak, prices are expected to decrease in short term. Capabilities include: raw material should cost models (yes, for stainless! Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rise in construction activities as a result of rising population coupled with the presence of major players in the region. Moreover, the flourishing automotive industry along with the rising demand for energy and water will likely drive the demand for stainless steel in the near future. Increasing application in pre-engineered buildings is likely to drive market growth during the coming years. This 18-8 alloy is similarly operative in the brewing business where it is used in storage & transport cars, fermentation vats, yeast pans, and pipelines. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. Coverage of Data Bridge is not restricted to developed or emerging economies. and
We deliver intelligence, data, and insights that enable companies to make smarter sourcing decisions leading to lower cost, reduced risk, and greater profits. While companies have reduced short-term revenue targets, the stainless steel market outlook for 2022-2028 remains bullish. | Media Kit | Cookie Consent Settings | privacy policy | terms of service, Javascript must be enabled in your browser, Steel, Aluminum, Copper, Stainless, Metal Prices & Forecasting| MetalMiner, Annual Metals Price Forecasting Outlook Report 2021, Should-Cost Models: The Ultimate Savings Hack, What Every Executive Team Wants from Procurement, Five Ways Svc Centers Hose You on Purchases, Estimating Stainless Steel Costs Becoming More Complicated, Stainless MMI: Nickel prices trade down but remain elevated amid lower LME volumes, Stainless MMI: Trading halted following nickel price spike, Environment driving BHPs investments in nickel, Prepare now so you dont lose money when steel prices spike, Learn how mills and service centers mess with you and how to deal with it, See how to buy in up, down, and sideways price markets using price indexes, Discover the 5 best practices of metal sourcing, 4 pieces of critical data your executive team wants to know about your category sourcing efforts. The construction industry is one of the major end-users of stainless steel. In todays world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. It is an environmentally inert and neutral alloy, which means that it is infinitely recyclable. The stainless steel market is expected to grow at a compound annual growth rate of 8.9% from 2022 to 2030 to reach USD 223.60 billion by 2030. b. What are the factors driving the stainless steel market. Characteristics such as easy fabrication, corrosion resistance, and aesthetic appeal are likely to contribute to the demand for consumer goods; thus, positively influencing the market growth. The stainless steel market competitive landscape provides details by competitor. Building & construction is one of the important applications of stainless steel. Increasing demand from downstream industries, such as agriculture, processing industry, consumer products, construction industry, is expected to be the primary driver of stainless steel industry, Increased focus on reducing the total ownership cost of stainless steel-making process has led to the adoption of newer technologies and the use of more energy-efficient fabrication and manufacturing processes, The development of newer technologies is driven by the need to attain lower cycle times in the manufacturing process. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. This website is secure and your personal details are safe. This plan is likely to assist the SS demand for structural applications in infrastructure and construction. Get your copy now to gain deeper insights on the same. and 6. 2000-3000 crore (~ USD 261.8-392.7 million) over the next few years. What are the major countries covered in the Market? For this study, Grand View Research has segmented the stainless steel market report based on the grade, product, application, and region: Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Mechanical Engineering & Heavy Industries, Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030). This is due to stringent measures adopted by the authorities, in order to curtail pollution levels.
An increasing share of India and ASEAN countries in the demand for SS is likely to contribute to the expansion of the Asia Pacific SS market. The Baltic Dry Index acts as an indicator of measuring logistic costs of dry bulk category, such as steel. Superior product properties such as high strength, low weight, and high corrosion resistance, particularly stress corrosion cracking, are expected to drive product demand during the forecast period. The pandemic crisis has had a significant impact on the growth of the stainless steel market in the year 2020, owing to a significant decrease in demand from various end use sectors.
Grade 303in the series is used almost entirely for every movable part requiring polishing, grinding, and machining where good corrosion resistance is also compulsory. We value your investment and offer free customization with every report to fulfil your exact research needs. The above data points provided are only related to the companies' focus related to stainless steel market.
It has fairly good forming properties used for aircraft components, also valves, shafts, valve trim, gears, and all types of screw machine products. The recent outbreak of coronavirus had a negative impact on the stainless steel market. The stainless steel market size was estimated at USD 104.23 billion in 2021 and is expected to reach USD 111.45 billion in 2022. b. The consumer goods segment dominated the market and accounted for the largest revenue share of above 37.0% in 2021. The stainless steel market is segmented on the basis of application into automotive and transportation, building and construction, consumer goods, heavy industries, metal products and other applications. These products are used in grills, fasteners, and machining applications along with the production of parts for automotive and machinery & equipment. In terms of volume, Europe is expected to reveal a 5.6% CAGR during the forecast period. DMCA Protected DataBridge - All Rights Reserved. Americas growth was hit due to low demands for exports. Superior properties of the product such as high strength, low weight, and high corrosion resistance particularly stress corrosion cracking is anticipated to drive product demand in the forecast period. Free upgrade to enterprise license (allows to share across all company locations), 5.
Furthermore, the increasing industrialization across the globe coupled with the growing power consumption coupled will further propel the growth rate of stainless steel market.
Which segment accounted for the largest stainless steel market share?
All of this is discussed in detail as below: The global stainless steel market is expected to grow at a significant rate during the forecast period due to its increasing application in various industries such as chemical industries, petrochemical industries, oil and gas industries, food and beverage industries, and power generation industries. For instance, global automobile production declined by 16.0% in 2020 as per the International Organization of Motor Vehicle Manufacturers (OICA). This was mainly due to the energy absorption capacity and high strength to weight ratio to improve the crash effectiveness of the coach. Stainless steel contains a variety of materials that when the fused result in a power alloy. Data Bridge Market Research is a leader in advanced formative research. Carbon fibers decrease the weight of vehicles by nearly 30% thus making it highly preferable in the automotive sector. Category Intelligence on Stainless Steel covers the following. Nickel prices play a large role in 300 series stainless steel prices. Please fill out the form below for a free PDF report sample &