Global Stainless Steel Market, By 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 and Others), Type (Austenitic Stainless Steels, Martensitic Stainless Steels, Ferritic Stainless Steels, Precipitation-Hard enable Stainless Steels and Duplex Series), Application (Automotive and Transportation, Building and Construction, Consumer Goods, Heavy Industries, Metal Products and Other Applications), Country (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) Industry Trends and Forecast to 2028
Rising infrastructural development coupled with the expansion of building industry, there is a significant positive impact on the demand of stainless steel especially in the developing countries. Data Bridge Market Research analyses that the stainless steel market will witness a CAGR of 6.3% for the forecast period of 2021-2028.
Stainless steel contains a variety of materials that when the fused result in a power alloy. Stainless steel, an alloy of iron and chromium, and nickel in some cases provide resistance to corrosion of iron. Chromium is responsible for providing this resistance property to the alloy. Chromium secretes a thin layer of oxide that is known as the passive layer. Other than chromium, nitrogen and molybdenum are also added to this alloy. It is an environmentally inert and neutral alloy, which means that it is infinitely recyclable. Stainless steel is durable and strong which makes it perfect use for various end-user verticals.
Rising construction activities across the globe to rapidly upgrade and improve the infrastructure is bolstering the growth in the demand for stainless steel. Properties like good tensile strength, low maintenance cost, toughness and ductility, aesthetic appearance, and much more help to induce the demand and application of stainless steel by the various end-users. Rising population coupled with a rise in personal disposable income are some other indirect market growth determinants.
However, the rising use of carbon fibres as a substitute for stainless steel in the automotive industry due to its lightweight nature will challenge the growth of the market. This is because the carbon fibres are lightweight; have high strength bearing capacities and load-bearing capacities.
This stainless steel market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on stainless steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Stainless Steel Market Scope and Market Size
The stainless steel market is segmented on the basis of product, type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product, the stainless steel market is segmented into 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 and others.
- On the basis of type, the stainless steel market is segmented into austenitic stainless steels, martensitic stainless steels, ferritic stainless steels, precipitation-hard enable stainless steels and duplex series.
- The stainless steel market is also segmented on the basis of application into automotive and transportation, building and construction, consumer goods, heavy industries, metal products and other applications.
Global Stainless Steel Market Country Level Analysis
The stainless steel market is analysed and market size, volume information is provided by country, product, type and application as referenced above.
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.
Asia-Pacific is set to dominate the global stainless steel market in terms of highest compound annual growth rate during the forecast period. The dominance can be attributed to the rise in construction activities as a result of rising population. Growth and expansion of automobile sector in this region is also fuelling up the growth rate of stainless steel market. Presence of major players is another growth propelling factor.
The country section of the stainless steel market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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.
Competitive Landscape and Stainless Steel Market Share Analysis
The stainless steel market competitive landscape provides details by competitor. 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. The above data points provided are only related to the companies’ focus related to stainless steel market.
The major players covered in the stainless steel market report are Yieh Corp., thyssenkrupp Stainless GmbH, POSCO, Outokumpu, NIPPON STEEL CORPORATION., Jindal Stainless, Baosteel Group Hu, ArcelorMittal, Aperam, Acerinox S.A., Swiss Steel Holding AG, Sandmeyer Steel Company, Mirach Metallurgy Co.,Limited, Sandvik AB, Viraj Profiles Limited., Synalloy Corporation, RTI Industries, AK Steel Corporation., North American Stainless and Steel Mart among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Stainless Steel Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.