The global Stainless Steel market was valued at USD 105.67 Billion in the year 2020 with APAC leading the regional market share. Increasing energy demand, vehicle production and rise in construction activities in emerging economies is expected to boost the demand of stainless steel. Meanwhile, the demand is offset by the economic slowdown in developed regions which is anticipated to remain for further few years. Companies in this sector are trying to expand their production technology and try to make them more sustainable as especially in Europe, governments are serious about environment protection laws. Stainless steel is a versatile material with superior durability, longevity and recyclability and all these unique properties of stainless steel would help it to remain the first preferred metal in most of the industries.
The outbreak of the COVID-19 pandemic has affected the global economy of various sectors, including the building & construction, manufacturing, automotive, and heavy industries in multiple ways. The COVID-19 pandemic has disrupted the supply chain of the steel industry and has negatively influenced the distribution and production activities in the industry. The current COVID-19 pandemic caused a sudden and sharp decline in economic activity and stainless steel consumption globally.
Flat products accounted for the largest volume share of in the stainless steel market in 2020 owing to increasing use of cold-rolled products. Superior properties such as straightness, concentricity, and tolerance make them suitable in end-use industries such as automotive, home appliances, and construction. The growth in these end-use industries is anticipated to drive the market for stainless steel over the coming years as a result of which the Flat product segment is expected to hold a dominant share of stainless steel market in 2026. However, the increasing use of stainless steel long products in heavy industries is anticipated to augment market growth over the coming years.
Scope of the Report
- The report presents the analysis of Stainless-Steel market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Stainless-Steel Market by value (USD Billion).
- The report analyses the Stainless-Steel Market by Product Type (Flat, Long).
- The report analyses the Stainless Steel Market by Grade (200 Series, 300 Series, 400 Series, Others)
- The report analyses the Stainless-Steel Market by End User (Automotive Industry, Construction, Consumer Products, Heavy Industry, Others)
- The Global Stainless-Steel Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA).
- The Global Stainless-Steel Market has been analysed By Country (United States, Canada, Mexico, Germany, France, Italy, China, India, Japan, and South Korea).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Product Type, by Grade, by End User.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Acerinox, POSCO, TATA Steel, Jindal Stainless Steel, Aperam, ArcelorMittal, Outokumpu, Baosteel Group, JFE Steel, Nippon Steel Corporation.
Key Target Audience
- Stainless Steel Manufacturing Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities