Stainless Steel Market | Leading Segments, Trends, Drivers and Challenges
FE Holdings Inc., Nippon Steel Corp., POSCO Group, and Tata Steel Ltd. among key market vendors
The global stainless steel market is likely to post an incremental growth of 15836.08 th MT, accelerating at a CAGR of 5.35% during the forecast period. This research provides a detailed analysis of the market segments and geographic landscape. It also offers insights into the various growth factors and challenges that are likely to have a negative impact on market growth. This thorough research will equip clients with the insights necessary to plan and strategize a post-pandemic recovery plan.
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Stainless Steel Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The market is segmented by End-user (metal products, mechanical engineering, automobile and transportation, infrastructure and construction, and electrical engineering) and Geography (APAC, Europe, North America, MEA, and South America).
- Growth by the metal products segment will be significant during the forecast period. The shift in consumer preference toward hygienic and easy-to-clean products is leading to an increase in demand for stainless steel in metal products.
- 74% of the market growth will originate from APAC during the forecast period. Market growth in APAC will be faster than the growth of the market in other regions as APAC is home to some of the largest stainless steel producing countries in the world, such as China, Japan, South Korea, and India. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Stainless Steel Market size.
Stainless Steel Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Upsurge in consumption of high-strength stainless steel will be a significant factor in driving the growth of the Stainless Steel Market. The increased use of high-strength stainless steel has been due to its superior qualities such as affordable cost and high strength-to-weight ratio. Some of the other benefits that high-strength stainless steel offers are faster hardening rates, high weldability, increased malleability, and a high ability to endure stress.
- Economic growth in China and India boosting the demand for stainless steel will be instrumental in driving the market growth during the forecast period. The increased focus of the stainless steel and automotive industries to develop environment-friendly vehicles is driving the use of high-strength stainless steel, thereby driving the growth of the global stainless steel market.
- Volatility in raw material prices is a hurdle that needs to be crossed on the path to success. The manufacture of stainless steel depends on various commodities, metals, and industrial raw materials such as iron ore, ferrochrome, scraped steel, chromium, nickel, and others. The prices of commodity products and metals is directly related to the global economic performance and price elasticity.
Stainless Steel Market: Vendor Analysis
- The market is fragmented.
- Acerinox SA, AK Steel Holding Corp., Aperam, Guangxi Chengde Group, JFE Holdings Inc., Nippon Steel Corp., Outokumpu Oyj, POSCO Group, Tata Steel Ltd., and Tsingshan Holding Group Co. Ltd. are some of the major market participants.
- The unprecedented outbreak of COVID-19 in 2020 has had a significant impact on market segments had a ripple effect on various stakeholders. Our vendor analysis and insights will provide you with all the information required to make the most of the opportunities and plan business recovery and growth post the pandemic.
Key Areas Covered in our Report:
- Stainless Steel Market Split by End-user
- Metal products
- Mechanical engineering
- Automobile and transportation
- Infrastructure and construction
- Electrical engineering
- Stainless Steel Market Split by Geography
- APAC
- Europe
- North America
- MEA
- South America
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Acerinox SA
- AK Steel Holding Corp.
- Aperam
- Guangxi Chengde Group
- JFE Holdings Inc.
- Nippon Steel Corp.
- Outokumpu Oyj
- POSCO Group
- Tata Steel Ltd.
- Tsingshan Holding Group Co. Ltd.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 5.35%.
- What is the incremental growth of the market?
The market is expected to grow by 15836.08 th MT through 2021-2025.
- What is a key factor driving this market?
Upsurge in consumption of high-strength stainless steel will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
74% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are Acerinox SA, AK Steel Holding Corp., Aperam, Guangxi Chengde Group, JFE Holdings Inc., Nippon Steel Corp., Outokumpu Oyj, POSCO Group, Tata Steel Ltd., and Tsingshan Holding Group Co. Ltd.
- What are the market segments covered in this report?
The market is segmented by End-user (metal products, mechanical engineering, automobile and transportation, infrastructure and construction, and electrical engineering) and Geography (APAC, Europe, North America, MEA, and South America)
