The global stainless steel market is accounted to US$ 198,660 Mn in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period 2019 - 2027, to account to US$ 323,144.6 Mn by 2027. Stainless steel is iron-base alloys with a minimum of 10.5% Chromium. The Chromium creates a thin passive layer of oxide on the surface of the steel, which prevents corrosion of the steel surface. Increasing the amount of chromium improves the corrosion resistance property of stainless steel. It is used in a wide range of applications such as industrial, architectural, chemical, and consumer application. Stainless steel is an engineering material characterized by high corrosion resistance, strength, and fabrication characteristics. Carbon, silicon, manganese, and other elements are added in the stainless to enhance useful properties such as formability and increased corrosion resistance.
The global stainless steel market is bifurcated based on application into automotive and transportation, building and construction, consumer goods & other metal components, heavy industries, and electrical machinery.The consumer goods & metal components segment accounted for the largest share in the global stainless steel market.
Stainless steel is used in consumer goods as they are easy to clean and require less maintenance.The aesthetic appearance, high resistance against extreme temperatures and corrosiveness has favored the stainless steel market in the consumer goods and metal products sector to a large extend.
Stainless steel has served to be an ideal inert material for sinks and hobs, washing machines, dishwashers, and ovens.
Increased adoption of natural products over synthetic products is driving the growth of the stainless steel market.Stainless steel has been used in the construction industry due to both its practical and aesthetic reason.
The stainless steel is largely used in the construction sites to retain the original appearance owing to its higher durability properties. The characteristic features of stainless steel like corrosion resistance, high tensile strength, durability, and aesthetic appearance make it ideally suited in the construction and architectural applications.
The Europe stainless steel market is dominated by France, followed by the rest of European nations.The steel industry has gained an important place in the European economy, fostering growth, innovation, and employment.
Growing automobile production and construction activities in the region have contributed towards the growth of the stainless steel market in this region. Also, emerging economies in this region are contributing to the overall growth of the stainless steel industry and provide remarkable growth opportunity to the industry players in this market.
Some of the players present in global stainless steel market are Acerinox S.A., Aperam S.A, ArcelorMittal S.A, Jindal Stainless Limited, Outokumpu OYJ, Sandmeyer steel company, Sandvik AB, Schmolz + Bickenbach Group, Thyssenkrupp AG, and Guangxi Chengdu group among others.
The overall global stainless steel market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the stainless steel market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the stainless steel market.
Our reports have been used by over 10K customers, including:
Market Overview The market for graphite electrode is anticipated to register a CAGR of 4.46% during the forecast period (2019-2024). The primary raw material used for the production of graphite electrode is needle coke (either petroleum-based or coal-based). - Rising production of iron and steel in emerging countries,...
Market Overview The market for special graphite is anticipated to register a CAGR of 11.14% during the forecast period (2019-2024). Major factors driving the market studied are increasing government policies for solar energy and increasing demand from the burgeoning lithium-ion battery industry. Tightened supplies of graphite...
Market Overview The market for cooling water treatment chemicals is likely to grow at a CAGR of 4.6% during the forecast period of 2019-2024. One of the major driving factors of the market is the accelerating growth of the power industry. However, Increasing popularity of chlorine alternatives is likely to restrain the...
286 pages •
By Transparency Market Research
• Sep 2019
Bulk Ferroalloys Market: Scope of the Study The analyst recently published a market study on the global market for bulk ferroalloys.It presents a complete assessment of the key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the bulk ferroalloys market. This study...
257 pages •
By Global Industry Analysts
• Oct 2019
FRP Rebar market worldwide is projected to grow by US$70.2 Million, driven by a compounded growth of 11.2%. Vinyl ester Based FRP, one of the segments analyzed and sized in this study, displays the potential to grow at over 11.1%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of...
172 pages •
By Future Market Insight Global & Consulting Pvt Ltd
• Jun 2019
A recent market study published , “Precision Stainless Steel Market: Global Industry Analysis 2014-2018 & Forecast 2019-2029” offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the precision stainless steel market, the growth...
Market Overview The India structural steel fabrication market is expected to grow at a CAGR of 5.5% over the forecast period of 2019-2024. - The Indian structural steel market is expected witness significant growth during the forecast period owing to factors such as the increasing demand from manufacturing sector,...
152 pages •
By Infiniti Research Limited
• Oct 2019
Global Advanced High Strength Steel Market: About this market This advanced high strength steel market analysis considers sales from automobile, construction, aviation and marine, and end-user segments. Our analysis also considers the sales of advanced high strength steel in APAC, Europe, North America, South America, and...
351 pages •
By Global Industry Analysts
• Oct 2019
Electrical Steel market worldwide is projected to grow by US$17.8 Billion, driven by a compounded growth of 6.7%. Grain-Oriented, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.3%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the...
Steel, an alloy of two metals – iron and carbon – is extensively used in the energy industry. Steel meets many demanding applications in the energy sector as well, supplying the industry with high performance steel for various applications. In power generation and distribution, steel is used in transformers, generators and electric motors....
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.