The global Stainless Steel Market size was valued approximately 50.74 MMT in the base year of 2021. In 2027, the global Stainless Steel market share is likely to attain a value of around 59.88 MMT. The progress of the market throughout the projected years between 2022-2027 will be increasing at a CAGR of 2.8%.
Stainless-steel is a category of iron compound that encompasses a smallest of 10% chromium, is corrosion resistant, has high toughness and flexibility, and requires less maintenance. As a result, it may be used in various applications across various sectors. This high-level demand leads to the impact in the stainless-steel market price.
The region contributing to the global Stainless Steel market expansion is Asia Pacific.
Aug 22nd, 2022- Chairman of the POSCO Group Choi Jung-woo met with global investment company officials like the Government of Singapore Investment Corp. (GIC) and BlackRock to describe his prospective vision and business performance and request continued partnership.
November 30, 2021- Aperam S.A., a stainless-steel producer based in Luxembourg, declared the approval of its delayed acquisition with Germany-based stainless-steel and alloys scrap processor and trader ELG by the European Commission. According to Aperam, the investment is anticipated to be finished before the year-end.
Stainless-steel, often known as rustless steel, is an alloy that belongs to the corrosion-resistant family of alloys with a chromium content of 10.5 percent or more by mass. The chromium in stainless-steel creates a passive layer, a chromium-rich oxide film that inhibits corrosion. It is an iron alloy, also known as inox steel or inox.
Based on end-use the worldwide Stainless Steel market Analysis is allocated into Consumer Goods & Medicals, Chemical, Petrochemical & Energy, ABC & Infrastructure, Automotive & Heavy Transport, Industrial & Heavy Industry.
By companies covered in the global Stainless Steel market report the market can be segmented in POSCO, Acerinox S.A., AK Steel, Holdings Corporation, Outokumpu Oyj, Aperam S.A.
The region's intra-regional investment in infrastructure export-led economy is the central pillar aiding the market growth. China has shown a growth splurge in the stainless-steel segment compared to carbon steel. China's share in Asian stainless-steel slab manufacturing is noticeable. The global Stainless Steel market in Asia has high growth potential.
China, India, Japan, and Indonesia are nations with the highest production rate of stainless-steel. China, followed by India, are the biggest stainless-steel manufacturer in the ASEAN region. With the growing expansion of Chinese production facilities in Indonesia, Indonesia will likely take over India in the global Stainless Steel market Growth.
In an electric arc furnace, scrap metals and additives are melted together to make stainless-steel. The EAF warms the metals over several hours using high-power electrodes to generate a molten, fluid slurry. Carbon contributes to iron's hardness and strength. Standardisation and lessening of the quantity of carbon to the right measure are required before casting molten stainless-steel.
After lowering carbon, the temperature and chemistry are finally balanced and homogenised. The forge must now produce the rudimentary form to cool off and run the molten steel. This procedure at temperatures greater than the steel's recrystallisation temperature aids in setting the steel's rough physical dimensions.
Cold rolling is an exact process below the steel's recrystallisation temperature. The steel is shaped using multiple supporting rollers. Most steel go through an galvanizing procedure after it has been rolled. Descaling or pickling is a method of removing scale that involves either acid baths (acid pickling) or controlled heating and cooling in an oxygen-free environment.
Stainless-steel is employed in manufacturing medical equipment, including clamps, needle holders, and spatulas blades, driving the global Stainless Steel market demand.
The material's corrosion-resistant properties make it fit for end-user industries like railways, construction, etc., propelling the market.
As the commodity is cryogenic and high in conductivity, it is extensively used in the research and development of ovens, food pickling plants, turbine heat exchanges, chemical tanks etc., furthering the global Stainless Steel market opportunity.
It is also used in the defence and domestic sector for manufcaturing missiles, artillery guns, and fasteners in tanks, which further proliferates the market expansion.
Concentrating on the regional market the global Stainless Steel market is divided into Europe, the Middle East, Africa, North America, Latin America, and Asia Pacific.
POSCO- POSCO is one of the largest global steel producers and a market leader in developing advanced customer solutions. Its footprint is spread across South Korea and Pohang, along with subsidiaries on six continents.
Acerinox S.A.- Acerinox SA is an operating steel company based in Spain. It manufactures and supplies long and flat stainless-steel products. It has warehouses, factories, service centres and representative offices in Europe, the Americas, Asia, Oceania, and Africa.
AK Steel Holdings Corporation- AK Steel International is a leader in marketing specialities steel mill products like Aluminum coated carbon, ARMCO® Pure Iron, stainless-steels, and tailored Chromium alloyed steels for exhaust systems employed in the automotive sector.
Outokumpu Oyj- Outokumpu Oyj (Outokumpu) is a stainless-steel producer that offers steel products in several forms serving end-user sectors like building and construction, energy, transportation, architecture etc. They have operations in Finland, Italy, Germany, Sweden, the UK, the US, and Mexico.
Aperam S.A.- Aperam is a world leader in electrical, stainless, and speciality steel with clients across 40 countries.
1. Executive Summary
2. Global Stainless Steel Market Snapshot
2.1. Stainless Steel Market Outlook
2.2. Stainless Steel Industry Analysis by End Use
2.2.1. Consumer Goods & Medicals
2.2.2. Chemical, Petrochemical & Energy
2.2.3. ABC & Infrastructure
2.2.4. Automotive & Heavy Transport
2.2.5. Industrial & Heavy Industry
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
3. Impact of Recent Events
4. Stainless Steel Value Chain Analysis
5. Stainless Steel Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Stainless Steel Cost Structure
9. Stainless Steel Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Stainless Steel Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.2. Acerinox S.A.
14.3. AK Steel Holdings Corporation
14.4. Outokumpu Oyj
14.5. Aperam S.A.
The global Stainless Steel market in 2021, attained a total value of 50.74 MMT.
By the forecast year of 2027, the stainless-steel market is projected to reach a value of 59.88 MMT.
The Asia Pacific region has the most significant share in the global Stainless Steel market.
The metal products segment holds the largest share in the market.
The market is likely to advance at a CAGR of 2.8% during the forecast years of 2022-2027.
The global Stainless Steel Market attained a value of 50.74 MMT in 2021, driven by the increasing employment of the product in the construction sector for manufacturing. It is also widely applied in the production of many items like kitchenware, etc., furthering the industry's expansion. Aided by the product's properties, it finds use in a wide range of industries like automotive, railway, etc., to produce various parts. Owing to the following factors, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 2.8%. The market is projected to reach 59.88 MMT by 2027.
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