Global Stainless Steel Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global stainless steel market in its upcoming report titled, “Global Stainless Steel Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global stainless steel market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global stainless steel market report has been segmented on the basis of grade, product, application and region.

Stainless steel is an iron alloy that contains minimum of 10.5% chromium. The chromium content in the alloy produces thin layer of oxide on the surface of steel known as passive layer. Stainless steel contains varying amounts of manganese, carbon, silicone and other elements such as nickel and molybdenum to impart properties such as enhanced formability and increased corrosion resistance.

Rising demand for stainless steel from end-use industries namely automobile and building & construction is expected to drive the market growth over the forecast period. Properties of stainless steel such as tensile strength, corrosion resistance, and aesthetic appearance are expected to fuel the market growth. However, rising use carbon fiber as a replacement to stainless steel in automobile industry owing to its properties such as high strength and low weight is estimated to hamper the market growth over the forecast period.

On the basis of grade, duplex series is estimated to be fastest growing segment in the global stainless steel market. Properties of duplex series stainless steel such as high corrosion resistance, low weight, and high strength are anticipated to boost the market growth over the forecast period.

On the basis of product type, flat type is expected to be largest product segment in terms of revenue. Flat type products are used in packaging and tinplate, appliances, heavy plates, construction, and pipes and tubes. Increasing demand for flat products in automobile and construction industry is expected to propel the market growth over the forecast period.

On the basis of application, heavy industries is expected to be largest segment in terms of revenue in global stainless steel market and is estimated to maintain its dominance over the forecast period. Stainless steel is an excellent material for industrial, commercial, and residential HVAC applications. Stainless steel is widely used in gas heaters, heat exchangers, air handling units, ventilation and heating components owing to its properties which includes high corrosion resistance and high strength is thus anticipated to drive the market growth over the forecast period.

North America market is estimated to hold significant revenue share in the global stainless steel market in 2017. Increasing infrastructure investments owing to rising population is expected to boost construction and automobile industries in the region. In addition, presence of a large number of manufacturers in China, Japan, and India is estimated to propel the market growth. Availability of raw materials such as iron ore and nickel in the region is estimated to drive the market growth.

Market segmentation and key players operating in the global stainless steel market:

By grade:

• 200 series
• 300 series
• 400 series
• Duplex series

By product:

• Long
• Flat

By application:

• Automotive & transportation
• Building & construction
• Heavy industries
• Consumer goods
• Others (food production, medical applications, and cutlery & kitchenware)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Acerinox S.A.
• Aperam S.A.
• Bristol Metals, LLC
• Jindal Stainless Limited
• Nippon Steel & Sumitomo Metal Corporation
• Mirach Metallurgy Co., Limited
• Sandvik AB
• ThyssenKrupp Stainless GmbH
• Viraj Profiles Limited
• ArcelorMittal S.A.