Scope of the Report
The report entitled “Global Steel Market with Focus on Stainless Steel: Size, Trends & Forecasts (2019-2023)” provides an in-depth analysis of the stainless steel market including detailed description of market sizing and growth. The report provides analysis of the steel market by production and by demand. The report further provides detailed analysis of the global stainless steel market by value, by consumption, by production and by application and includes application; and regional production and consumption analysis as well.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall stainless steel market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the stainless steel market are ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC), Outokumpu and POSCO. The four companies have been profiled in the report providing detailed analysis of their financial information and business strategies.
- Nippon Steel & Sumitomo Metal Corporation (NSSMC)
Steel refers to an alloy of iron and carbon and contains silicon, phosphorus, Sulphur and oxygen as well. Steel is available in more than 3500 grades, each of which possesses certain unique properties. Steel is fully recyclable, possesses great durability, requires low amount of energy for production and is also environment friendly and sustainable.
Stainless steel is a form of steel which is used in a number of applications across different industries, including transport, chemical, pharmaceutical, oil and gas, food processing, construction etc. Stainless steel is an alloy of iron along with a minimum of 10.5% chromium. One of the major advantages provided by stainless steel which leads to its wide application is high corrosion resistance.
The global steel market has been segmented into carbon steel, alloy steel, stainless steel, tool steel and other steel types. Stainless steel has been further categorized into austenitic grade, ferritic grade and martensitic grade stainless steels. The market has been divided on the basis of production methods into blast furnace-basic oxygen furnace (BF-FOF), electric arc furnace (EAF) and others. Applications for the steel market include bridges, industrial structures and others.
The global steel market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth enhancing factors such as rapid urbanization, growing investments in infrastructure sector, increasing automotive production, growing food industry etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are volatility in raw material prices and rising market competitors.