Latest News- Stainless Steel Anchor Chain Market: Marine and shipping is expected to lead the Application segment during 2025-2029

The Stainless Steel Anchor Chain Market is being driven by Adoption of offshore floating wind turbines

The Stainless Steel Anchor Chain Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 71.21 thousand. The stainless steel anchor chain market is experiencing a notable transition towards sustainable manufacturing processes in response to escalating environmental regulations and consumer preference for eco-friendly products. A significant development in this sector is the incorporation of green hydrogen in the production of stainless steel, as demonstrated by Jindal Stainless' initiative in India. In March 2024, this leading stainless steel manufacturer introduced the use of green hydrogen in its facility, making it the first of its kind. This cutting-edge, fully automated plant, established in collaboration with a leading green hydrogen solutions provider, boasts an advanced alkaline bipolar electrolyzer, aligning with global sustainability objectives and India's commitment to achieving net zero carbon emissions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Marine and shipping
  • Offshore energy
  • Others
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Spain
  • North America
    • US
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Adoption of offshore floating wind turbines
• Growth in global maritime trade
• Launch of offshore oil projects

However, the market also witnesses some limitations, which are as follows:

• High prices of raw materials
• Disruptions in marine trade
• Limiting steel production

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Market Scope in Stainless Steel Anchor Chain Market Research Report

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Research Analysis Overview

The Stainless Steel Anchor Chain market caters to various maritime sectors, including maritime operations for huge and small ships, naval defense, fishing, recreational boating, and commercial shipping. This market offers corrosion-resistant solutions like marine anchor chains and offshore mooring chains for interconnected links in marina infrastructure. Stainless steel chains are essential for anchoring vessels during stationary periods in harsh marine conditions, exposed to wind, waves, and currents. These chains come in heavy-duty and light-duty options, catering to diverse maritime needs. Smart solutions with real-time monitoring systems further enhance the market's value in the maritime equipment industry.

Market Research Overview

The Stainless Steel Anchor Chain market is a significant segment of the larger industrial machinery and supplies and components market. This market caters to the maritime industry, supplying anchor and mooring chains for use on ships of various sizes, from huge vessels to small boats. The market's growth is driven by the expanding industrial output, particularly in developing countries, leading to increased demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages. Consequently, there is a growing need for offshore mooring solutions for energy and mining industries, boosting the demand for stainless steel anchor chains. Technavio, a leading market research firm, sizes the global industrial machinery and supplies and components market based on the combined revenue generated by manufacturers of machinery and components used in industrial applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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