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Global Stainless Steel Market Report and Forecast 2023-2028
Market Report I 2023-03-27 I 149 Pages I EMR Inc.
Global Stainless Steel Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global stainless steel market attained a volume of 50829.3 KMT in 2022. Aided by the increasing demand from various end-use industries and the rising focus on sustainability, the market is projected to further grow at a CAGR of 2.9% between 2023 and 2028 to reach a volume of 60164.36 KMT by 2028.
Stainless steel is an alloy of chromium and iron, which offers exceptional resistance to corrosion, staining, and rust. It contains varying amounts of carbon, silicon, manganese, and other elements to enhance its properties. The increasing demand from various end-use industries is driving the growth of the stainless steel market. Technological advancements in the stainless steel industry are also fostering market growth. Innovations in steelmaking processes, such as the development of new alloys with improved properties, have resulted in the production of high-performance stainless steel grades.
It is employed in the fabrication of structural components, roofing, cladding, and interior design elements. The automotive industry also relies on stainless steel for the production of exhaust systems, trim components, and structural parts, owing to its lightweight and high-strength properties. The rising demand for stainless steel from these industries is propelling the growth of the stainless steel market. The rising focus on sustainability is another key factor contributing to the growth of the market for stainless steel. The growing demand for stainless steel in the healthcare sector is also propelling the growth of the market. The increasing prevalence of chronic diseases, coupled with the expansion of healthcare facilities worldwide, is driving the demand for stainless steel in this sector.
Another crucial factor propelling the growth of the stainless steel market is its rising usage in the automotive industry. The growing demand for lightweight vehicles to reduce carbon emissions and improve fuel efficiency has further bolstered the consumption of stainless steel in the automotive sector. The stainless steel market is also benefiting from the increasing demand for consumer goods, such as home appliances, electronics, and cookware. Stainless steel's durability, easy cleaning, and aesthetic appeal make it a preferred material for manufacturing consumer products. Moreover, the growing emphasis on hygiene and cleanliness in households, driven by health consciousness among consumers, has boosted the demand for stainless steel products.
The aerospace industry's expansion is another significant factor fuelling the stainless steel market growth. Aerospace applications require materials with high strength, corrosion resistance, and heat resistance, which stainless steel offers. The region is witnessing significant infrastructure development, leading to increased demand for stainless steel in construction and other industries. Moreover, the presence of major stainless steel manufacturers and growing automotive production in the region further contributes to the market growth.
The expanding construction sector is one of the major factors driving the growth of the stainless steel market. With rapid urbanisation and an increasing population, the demand for infrastructure development has surged, leading to greater consumption of stainless steel in the construction of residential and commercial buildings. Furthermore, stainless steel is utilised in the production of sustainable and energy-efficient building materials, contributing to the market's growth.
Market Segmentation?
The market can be divided on the basis of type, application, and region.
Market Breakup by Type:
- Cold Flat
- Hot Coils
- Hot Bars/Wire Rod
- Cold Bars/Wire
- Hot Plate and Sheet
- Others
Market Division by Application:
- Metal Products
- Mechanical Engineering
- Construction
- Motor Vehicles and Parts
- Electrical Machinery
- Others
Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the stainless steel companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Nippon Steel Corporation
- AK Steel International B.V.
- Outokumpu Oyj
- POSCO
- Aperam SA
- Beihai Chengde Group
- JFE Steel Corporation
- Baosteel Stainless Steel Co.,Ltd
- Acerinox S.A.
- Tata Steel Limited
- Others
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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Stainless Steel Market Analysis
8.1 Key Industry Highlights
8.2 Global Stainless Steel Historical Production (2018-2022)
8.3 Global Stainless Steel Production Forecast (2023-2028)
8.4 Global Stainless Steel Historical Consumption (2018-2022)
8.5 Global Stainless Steel Production Forecast (2023-2028)
8.6 Global Stainless Steel Market by Type
8.6.1 Cold Flat
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Hot Coils
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Hot Bars/Wire Rod
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Cold Bars/Wire
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Hot Plate and Sheet
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.6.6 Others
8.7 Global Stainless Steel Market by Application
8.7.1 Metal Products
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Mechanical Engineering
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Construction
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Motor Vehicles and Parts
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Electrical Machinery
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Others
8.8 Global Stainless Steel Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Stainless Steel Market Analysis
9.1 Market by Application
9.2 Market by Country
9.2.1 United States of America
9.2.1.1 Market Share
9.2.1.2 Historical Trend (2018-2022)
9.2.1.3 Forecast Trend (2023-2028)
9.2.2 Canada
9.2.2.1 Market Share
9.2.2.2 Historical Trend (2018-2022)
9.2.2.3 Forecast Trend (2023-2028)
10 Europe Stainless Steel Market Analysis
10.1 Market by Application
10.2 Market by Country
10.2.1 United Kingdom
10.2.1.1 Market Share
10.2.1.2 Historical Trend (2018-2022)
10.2.1.3 Forecast Trend (2023-2028)
10.2.2 Germany
10.2.2.1 Market Share
10.2.2.2 Historical Trend (2018-2022)
10.2.2.3 Forecast Trend (2023-2028)
10.2.3 France
10.2.3.1 Market Share
10.2.3.2 Historical Trend (2018-2022)
10.2.3.3 Forecast Trend (2023-2028)
10.2.4 Italy
10.2.4.1 Market Share
10.2.4.2 Historical Trend (2018-2022)
10.2.4.3 Forecast Trend (2023-2028)
10.2.5 Others
11 Asia Pacific Stainless Steel Market Analysis
11.1 Market by Application
11.2 Market by Country
11.2.1 China
11.2.1.1 Market Share
11.2.1.2 Historical Trend (2018-2022)
11.2.1.3 Forecast Trend (2023-2028)
11.2.2 Japan
11.2.2.1 Market Share
11.2.2.2 Historical Trend (2018-2022)
11.2.2.3 Forecast Trend (2023-2028)
11.2.3 India
11.2.3.1 Market Share
11.2.3.2 Historical Trend (2018-2022)
11.2.3.3 Forecast Trend (2023-2028)
11.2.4 ASEAN
11.2.4.1 Market Share
11.2.4.2 Historical Trend (2018-2022)
11.2.4.3 Forecast Trend (2023-2028)
11.2.5 Australia
11.2.5.1 Market Share
11.2.5.2 Historical Trend (2018-2022)
11.2.5.3 Forecast Trend (2023-2028)
11.2.6 Others
12 Latin America Stainless Steel Market Analysis
12.1 Market by Application
12.2 Market by Country
12.2.1 Brazil
12.2.1.1 Market Share
12.2.1.2 Historical Trend (2018-2022)
12.2.1.3 Forecast Trend (2023-2028)
12.2.2 Argentina
12.2.2.1 Market Share
12.2.2.2 Historical Trend (2018-2022)
12.2.2.3 Forecast Trend (2023-2028)
12.2.3 Mexico
12.2.3.1 Market Share
12.2.3.2 Historical Trend (2018-2022)
12.2.3.3 Forecast Trend (2023-2028)
12.2.4 Others
13 Middle East and Africa Stainless Steel Market Analysis
13.1 Market by Application
13.2 Market by Country
13.2.1 Saudi Arabia
13.2.1.1 Market Share
13.2.1.2 Historical Trend (2018-2022)
13.2.1.3 Forecast Trend (2023-2028)
13.2.2 United Arab Emirates
13.2.2.1 Market Share
13.2.2.2 Historical Trend (2018-2022)
13.2.2.3 Forecast Trend (2023-2028)
13.2.3 Nigeria
13.2.3.1 Market Share
13.2.3.2 Historical Trend (2018-2022)
13.2.3.3 Forecast Trend (2023-2028)
13.2.4 South Africa
13.2.4.1 Market Share
13.2.4.2 Historical Trend (2018-2022)
13.2.4.3 Forecast Trend (2023-2028)
13.2.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 7218)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Nippon Steel Corporation
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 AK Steel International B.V.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Outokumpu Oyj
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 POSCO
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Aperam SA
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Beihai Chengde Group
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 JFE Steel Corporation
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Baosteel Stainless Steel Co.,Ltd
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Acerinox S.A.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Tata Steel Limited
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
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