The key driver of the stainless steel industry is the increasing demand from downstream industries such as agriculture, processing industry, consumer products, and construction industry. Rounds bar is an important product in this category and can easily be machined and bent as per the requirement. The market constraints are current supply gut, low profit margins, and cost of logistics. As there is not much demand and less supply because of the uncertainty due to the virus outbreak, prices are expected to decrease in short term. We are GDPR and CCPA compliant! online dashboard trial. Grade 304 in the 300 series is specifically suited for all kinds of dairy equipment including containers, sterilizers, milking machines, homogenizers, and storage & hauling tanks, including railroad cars, milk trucks, valves, and piping. 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. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. The segment accounted for a volume share of 11.3% of overall U.S. demand. Debt protection metrics in the industry have also deteriorated. The growth of the stainless steel industry in America was mainly impacted by the continuation of a strong dollar and weak-exporting demand for the year 2017. Some prominent players in the global stainless steel market include: Revenue in USD million, volume in kilotons, CAGR from 2022 to 2030, Revenue forecast, volume forecast, competitive landscape, growth factors, trends, North America; Europe; Asia Pacific; Central & South America; Middle East & Africa, U.S.; Canada; Mexico; Germany; France; UK; Russia; China; India; South Korea; Japan; Brazil; GCC. Note: In August 2020, MetalMiner modified the stainless steel price chart above to model the LME nickel price against the MetalMiner Monthly Outlook forecast track record. steel market japan stainless nbakki jfe Stainless steel (SS) is an important material in industrial applications such as building & construction, infrastructure, railways, automotive & transportation, and process industries. The number of mergers and acquisitions (M&A) in the global steel industry rose by 19% to 115 deals in 2015 from 97 deals in 2014. The global stainless steel market is redefined by the impacts of this public-health crisis, as a few distributors are either turning off or decreasing their production due to lack of stainless steel demand in the downstream industry. This was driven by robust growth due to solid infrastructure and property sectors. According to the International Stainless Steel Forum (ISSF), Indonesia will become one of the world's largest producers of stainless steel. Who are the key players in stainless steel market? and The recent outbreak of coronavirus had a negative impact on the stainless steel market. Global Stainless Steel Market was valued at USD 104.23 billion in 2021 and is expected to reach USD 166.13 billion by 2029, registering a CAGR of 6.00% during the forecast period of 2022-2029. US: +1 888 387 2818 UK: +44 208 089 1725, US: +1 888 387 2818 UK: +44 208 089 1725 Hong Kong: +852 8192 7475. Regional Market Outlook-APAC, americas, EU, Information relating to market, supply, cost, and pricing analysis, Hard to find data on cost and TCO models, supplier details, and performance benchmarks, Macroeconomic and regional trends impacting cost, supply, and other market dynamics, Category-specific negotiation and sourcing advice, Asia would continue to dominate the market in terms of growth prospects until 2019, China's production of crude stainless steel totaled 26.7 million tons in 2018, higher by 933,000 tons or 3.6% on year, In the Americas, the demand for stainless steel was at 3.97 MMT for 2017, driven by higher investments in the automotive and manufacturing sector, Stainless steel production in the US reached 3.28 million metric tons in 2017 and is estimated to increase with a CAGR of 2-3%, About 72 percent of the global stainless steel demand during 2017 was from Asia (27.04 MMT). Terms and Conditions, By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research All of this is discussed in detail as below: The global stainless steel market is expected to grow at a significant rate during the forecast period due to its increasing application in various industries such as chemical industries, petrochemical industries, oil and gas industries, food and beverage industries, and power generation industries. DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem. With an unfavorable global circumstance, the export-reliant countries seem at risk. The market size in the APAC region was at 27.04 MMT in 2017 and was expected to grow at 3 percent between 2017 and 2019. It likewise envelops the examination of information inconsistencies seen across different information sources. Railways are one of the important applications, wherein COR-TEN steel is being replaced by stainless steel for coaches. Rating. Which segment accounted for the largest stainless steel market share? Suppliers are also susceptible to commodity price fluctuations, against which they cannot hedge, due to relatively smaller period of contracts, Steel and its products have high logistics costs. The U.S. stainless steel market is expected to be driven by the demand for mechanical, chemical, and energy applications. It is used in railings, roofing, lifts, staircases, swimming pool shades, canopies, and atriums among others.

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. For this study, Grand View Research has segmented the stainless steel market report based on the grade, product, application, and region: Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Mechanical Engineering & Heavy Industries, Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030). Free upgrade to enterprise license (allows to share across all company locations), 5. 2000-3000 crore (~ USD 261.8-392.7 million) over the next few years. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE. Characteristics such as easy fabrication, corrosion resistance, and aesthetic appeal are likely to contribute to the demand for consumer goods; thus, positively influencing the market growth. The market data is analyzed and estimated using market statistical and coherent models. The amplifying importance of lightweight automobiles to curb fuel usage will increase the demand for lightweight materials.

Avail customized purchase options to meet your exact research needs. Beroe has been a trusted source of intelligence for more than 15 years and presently partners with 10,000 companies worldwide, including 400 of the Fortune 500 companies. Please fill out the form below for a free PDF report sample & The increase in urbanization and modernization globally are the main reasons for this growth. The steel industry market in the APAC region grew between 2017 and 2019. Carbon fibers decrease the weight of vehicles by nearly 30% thus making it highly preferable in the automotive sector. See for yourself. Meanwhile, China is the world's largest stainless steel producer, with an annual output of around 30 MT. The rise in consumption of chemical and energy, consumer goods, and medical and automotive industry led to this increase. DMCA Protected DataBridge - All Rights Reserved. Also market share analysis and key trend analysis are the major success factors in the market report. SS flat products are widely used in mechanical parts and industrial tools along with construction and structural applications. The report includes an analysis of the cost structure in the stainless steel market, wherein the major expense is caused due to raw materials and electricity, which accounts for nearly 65-85 percent of the entire cost. Additionally, the rising use of renewable energy and growth in residential, public, and commercial construction and reconstruction projects will also drive market value growth. "The quality of research they have done for us has been excellent.". Addition or alteration to country, regional & segment scope. These products are used in grills, fasteners, and machining applications along with the production of parts for automotive and machinery & equipment. The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. This plan is likely to assist the SS demand for structural applications in infrastructure and construction. Per capita consumption in India, Vietnam, Thailand, and Indonesia is gradually increasing, which is likely to remain a key contributing factor for the market growth. For instance, as per the data released by EUROCONSTRUCT, construction output in European countries witnessed a decline of 5.1% in 2020 from the previous year. The stainless steel market size was estimated at USD 104.23 billion in 2021 and is expected to reach USD 111.45 billion in 2022. b. Discounted price for multiple reports across domains, 2. Beroe, News & We at GVR are trying to quantify the impact of this pandemic on the stainless steel market. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown. Stainless steel, an alloy of iron and chromium, and nickel in some cases provide resistance to corrosion of iron. As a result, the market is projected to have an accelerated growth over the forecast period. We deliver intelligence, data, and insights that enable companies to make smarter sourcing decisions leading to lower cost, reduced risk, and greater profits. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. To gain more info on the 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. Data Bridge Market Research is a leader in advanced formative research. Terms and Conditions, Global Duplex Stainless Steel Market - Industry Trends and Forecast to 2028, Global Precision Stainless Steel Market Industry Trends and Forecast to 2027, Global Precision Stainless Steel Market is Rising Exponentially at a Rate of 4.10% for the Forecast Period of 2020 to 2027, By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research About 72 percent of the global stainless steel demand during 2017 was from Asia (27.04 MMT). Market Superior product properties such as high strength, low weight, and high corrosion resistance, particularly stress corrosion cracking, are expected to drive product demand during the forecast period. This report forecasts revenue and volume growth at the global, regional, and country levels in addition to provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. We never share your personal data. Increasing application in pre-engineered buildings is likely to drive market growth during the coming years. In November, the U.S. government introduced USD 2 trillion plan for infrastructure. Further, the stainless steel industry is receiving major impetus from downstream industries such as agriculture, processing industry, consumer products, and construction. The global stainless steel market size was valued at USD 104.23 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030. The above data points provided are only related to the companies' focus related to stainless steel market. Moreover, the growth in the automotive industry along with the growing demand for energy and water will likely maintain the demand for stainless steel in the near future.

Coverage of Data Bridge is not restricted to developed or emerging economies. Grade 303in the series is used almost entirely for every movable part requiring polishing, grinding, and machining where good corrosion resistance is also compulsory. Espresso, About Over the last few years, the increased production of stainless steel is projected to have significant impact over the market. Factors such as the global financial crunch, supply disruptions, global demand, and decline in 2020 have affected the market dynamics in the B&C sector in recent times. Stainless steel contains a variety of materials that when the fused result in a power alloy.

What is the stainless steel market growth? The steel industry has been facing a shortage of graphite electrode, owing to paucity of needle coke in China. Complimentary 12-month access to Beroe LiVE, Rethinking Digital Procurement: Joins us for a discussion on July 27. Growth in the consumption of chemical/petrochemical and energy, consumer goods and medical and automotive and heavy transport mainly contributed to the increase in consumption in APAC. The demand for SS products is likely to be driven by the growth of the automotive and transportation industry. No purchase commitment. The private and public investments in infrastructure, as well as residential housing, is likely to provide a boost to the stainless steel demand. Increased logistics cost impacts the import of raw material and increases the domestic and landing cost of steel. The construction industry is one of the major end-users of stainless steel.

Also, the 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. The pandemic crisis has had a significant impact on the growth of the stainless steel market in the year 2020, owing to a significant decrease in demand from various end use sectors. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications. The global stainless steel market is expected to reach 47.2 MMT (million metric tons) in 2021. Long products are widely used in industries such as textile, automotive, defense, shipbuilding, cement, fabrication, paper & pulp, and earth-moving machinery. The building & construction (B&C) segment witnessed a sizable impact in 2020 by the outbreak of the COVID-19 pandemic. The stainless steel market competitive landscape provides details by competitor.

What are the factors driving the stainless steel market. The manufacturing sector has been worst hit with the current pandemic situation as manufacturers of non-essential goods have shut down their manufacturing facilities in compliance with the government norms for lockdown.



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