Stainless Steel Market by Product (Flat, Long), Grade (200 Series, 300 Series, 400 Series, Duplex Series, and Others), Application (Automotive and Transportation, Building and Construction, Consumer Goods, Mechanical Engineering and Heavy Industries, and

Stainless Steel Market by Product (Flat, Long), Grade (200 Series, 300 Series, 400 Series, Duplex Series, and Others), Application (Automotive and Transportation, Building and Construction, Consumer Goods, Mechanical Engineering and Heavy Industries, and Others), and Region 2023-2028

Market Overview:

The global stainless steel market size reached US$ 146.27 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 210.44 Billion by 2028, exhibiting a growth rate (CAGR) of 6.12% during 2023-2028. The rising demand for stainless steel from the building and construction sector, escalating automotive production and sales, and ongoing industrial and infrastructure development activities represent some of the key factors driving the market.

Stainless steel (SS) refers to an iron-based alloy with a high chromium content and additional elements, such as nickel, molybdenum, carbon, and other metals. The alloyed chromium secretes a thin layer of oxide, or a passive layer, which imparts excellent corrosion and heat resistance properties to the steel. Other elements, including titanium, aluminum, niobium, copper, nitrogen, sulfur, phosphorus, and selenium, can be added to the steel to improve its corrosion resistance to specific environments, enhance oxidation resistance, and attain desired characteristics. Compared to carbon steel, SS offers superior properties, such as excellent flexibility, tensile strength, corrosion resistance, aesthetic appeal, low maintenance costs, environment-friendliness, recyclability, and extended product life. As a result, stainless steel finds extensive applications across the construction, automotive, infrastructure, railways, and process industries. 

Stainless Steel Market Trends:

There has been a significant increase in the use of stainless steel products for structural purposes, such as beams, columns, and general architectural applications. They are widely employed in railings, roofing, lifts, staircases, swimming pool shades, canopies, and atriums. Consequently, the rising demand for stainless steel from the building and construction sector represents one of the key factors driving the market growth. Moreover, governments of various nations are making heavy investments in repairing and renovating bridges, highways, airports, public buildings, and electric vehicle (EV) charging facilities. Along with this, extensive private and public funding in infrastructure development and the increasing number of residential housing projects are contributing to the market growth. Additionally, there is an increase in the mechanical, chemical, and energy applications of stainless steel, such as tubular in the oil industry, heat exchangers and boilers in power plants, and components in processing machinery of pulp and paper, chemicals, and food and beverage sectors. In line with this, growing product usage in manufacturing consumer goods and parts for automobiles, machinery, and equipment has catalyzed product demand. Furthermore, several key players are adopting energy-efficient manufacturing processes and novel technologies to improve production capacities, reduce costs, and enhance efficiency, thereby contributing to market growth. Other factors, including escalating automotive production and sales, ongoing industrial and infrastructure development activities, rising product applications in the electrical and electronics industries, and continual technological advancements, are also creating a positive market outlook. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global stainless steel market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product, grade, and application.

Product Insights:

Flat
Long
 

The report has provided a detailed breakup and analysis of the stainless steel market based on the product. This includes flat and long. According to the report, flat represented the largest segment.

Grade Insights:

200 Series
300 Series
400 Series
Duplex Series
Others
 

A detailed breakup and analysis of the stainless steel market based on the grade has also been provided in the report. This includes 200 series, 300 series, 400 series, duplex series, and others. According to the report, 300 series grade accounted for the largest market share.

Application Insights:

Automotive and Transportation
Building and Construction
Consumer Goods
Mechanical Engineering and Heavy Industries
Others
 

The report has provided a detailed breakup and analysis of the stainless steel market based on the application. This includes automotive and transportation, building and construction, consumer goods, mechanical engineering and heavy industries, and others.

Regional Insights:

North America

United States
Canada


Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa
 

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for stainless steel. Some of the factors driving the Asia Pacific stainless steel market included its significant economic growth, heavy investments in energy and infrastructure, rapid expansion in the automotive, machinery, and shipbuilding industries, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global stainless steel market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Acerinox S.A., Aperam S.A., ArcelorMittal S.A., Baosteel Group, JFE Steel Corporation (JFE Holdings Inc.), Jindal Stainless Limited, Nippon Steel Corporation, Outokumpu Oyj, POSCO Products, thyssenkrupp Stainless GmbH (ThyssenKrupp AG), Yieh United Steel Corp., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

How has the global stainless steel market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global stainless steel market?
What is the impact of each driver, restraint, and opportunity on the global stainless steel market?
What are the key regional markets?
Which countries represent the most attractive stainless steel market?
What is the breakup of the market based on the product?
Which is the most attractive product in the stainless steel market?
What is the breakup of the market based on the grade?
Which is the most attractive grade in the stainless steel market?
What is the breakup of the market based on the application?
Which is the most attractive application in the stainless steel market?
What is the competitive structure of the global stainless steel market?
Who are the key players/companies in the global stainless steel market?

layers in the market.


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Stainless Steel Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Flat
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Long
  6.2.1 Market Trends
  6.2.2 Market Forecast
7 Market Breakup by Grade
7.1 200 Series
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 300 Series
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 400 Series
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Duplex Series
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast
8 Market Breakup by Application
8.1 Automotive and Transportation
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Building and Construction
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Consumer Goods
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Mechanical Engineering and Heavy Industries
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Others
  8.5.1 Market Trends
  8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
  9.1.1 United States
   9.1.1.1 Market Trends
   9.1.1.2 Market Forecast
  9.1.2 Canada
   9.1.2.1 Market Trends
   9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
   9.2.1.1 Market Trends
   9.2.1.2 Market Forecast
  9.2.2 Japan
   9.2.2.1 Market Trends
   9.2.2.2 Market Forecast
  9.2.3 India
   9.2.3.1 Market Trends
   9.2.3.2 Market Forecast
  9.2.4 South Korea
   9.2.4.1 Market Trends
   9.2.4.2 Market Forecast
  9.2.5 Australia
   9.2.5.1 Market Trends
   9.2.5.2 Market Forecast
  9.2.6 Indonesia
   9.2.6.1 Market Trends
   9.2.6.2 Market Forecast
  9.2.7 Others
   9.2.7.1 Market Trends
   9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
   9.3.1.1 Market Trends
   9.3.1.2 Market Forecast
  9.3.2 France
   9.3.2.1 Market Trends
   9.3.2.2 Market Forecast
  9.3.3 United Kingdom
   9.3.3.1 Market Trends
   9.3.3.2 Market Forecast
  9.3.4 Italy
   9.3.4.1 Market Trends
   9.3.4.2 Market Forecast
  9.3.5 Spain
   9.3.5.1 Market Trends
   9.3.5.2 Market Forecast
  9.3.6 Russia
   9.3.6.1 Market Trends
   9.3.6.2 Market Forecast
  9.3.7 Others
   9.3.7.1 Market Trends
   9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
   9.4.1.1 Market Trends
   9.4.1.2 Market Forecast
  9.4.2 Mexico
   9.4.2.1 Market Trends
   9.4.2.2 Market Forecast
  9.4.3 Others
   9.4.3.1 Market Trends
   9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
10.1 Overview
10.2 Drivers
10.3 Restraints
10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Acerinox S.A
   14.3.1.1 Company Overview
   14.3.1.2 Product Portfolio
   14.3.1.3 Financials
  14.3.2 Aperam S.A.
   14.3.2.1 Company Overview
   14.3.2.2 Product Portfolio
   14.3.2.3 Financials
  14.3.3 ArcelorMittal S.A.
   14.3.3.1 Company Overview
   14.3.3.2 Product Portfolio
   14.3.3.3 Financials
   14.3.3.4 SWOT Analysis
  14.3.4 Baosteel Group
   14.3.4.1 Company Overview
   14.3.4.2 Product Portfolio
  14.3.5 JFE Steel Corporation (JFE Holdings Inc.)
   14.3.5.1 Company Overview
   14.3.5.2 Product Portfolio
  14.3.6 Jindal Stainless Limited
   14.3.6.1 Company Overview
   14.3.6.2 Product Portfolio
   14.3.6.3 Financials
  14.3.7 Nippon Steel Corporation
   14.3.7.1 Company Overview
   14.3.7.2 Product Portfolio
   14.3.7.3 Financials
   14.3.7.4 SWOT Analysis
  14.3.8 Outokumpu Oyj
   14.3.8.1 Company Overview
   14.3.8.2 Product Portfolio
   14.3.8.3 Financials
   14.3.8.4 SWOT Analysis
  14.3.9 POSCO Products
   14.3.9.1 Company Overview
   14.3.9.2 Product Portfolio
  14.3.10 thyssenkrupp Stainless GmbH (ThyssenKrupp AG)
   14.3.10.1 Company Overview
   14.3.10.2 Product Portfolio
  14.3.11 Yieh United Steel Corp.
   14.3.11.1 Company Overview
   14.3.11.2 Product Portfolio
   14.3.11.3 FinancialsKindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

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