Stainless Steel Market Industry Insights, Trends, and Forecasts to 2030
Data Bridge Market Research analyses that the Stainless-Steel market which was USD 110.48 billion in 2022, would rocket up to USD 176.09 million by 2030, and is expected to undergo a CAGR of 6.0% during the forecast period.
Industry Analysis
Stainless steel is a type of alloy known for its corrosion resistance and durability. It is composed primarily of iron, with varying amounts of chromium, nickel, molybdenum, and other elements depending on the specific grade. The addition of chromium is what gives stainless steel its corrosion resistance properties. Stainless steel is widely used in various industries and applications due to its desirable qualities. It is commonly used in kitchen appliances, cookware, cutlery, medical instruments, surgical implants, automotive parts, construction materials, and many other products.
This indicates that the market value. “Flat Products” dominates the technology segment of the Stainless Steel market due to their versatility, durability, corrosion resistance, recyclability ability properties. These technologies rely on physical interactions, such as adsorption or compression, to store hydrogen gas. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Stainless steel contains a variety of materials that, when fused, result in a power alloy. Stainless steel, an alloy of iron and chromium, and nickel, in some cases, provide resistance to corrosion of iron. Chromium is responsible for providing this resistance property to the alloy. Chromium secretes a thin layer of oxide that is known as the passive layer. Other than chromium, nitrogen and molybdenum are also added to this alloy. It is an environmentally inert and neutral alloy, which means that it is infinitely recyclable. Stainless steel is durable and strong, which makes it perfect use for various end-user verticals.
Global Stainless Steel Market Scope
The stainless steel market is segmented on the basis of product, type, grade, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
· Flat Products
· Long Products
· Bars/ Wire Rods
· Hot Bars/ Wire Rods
· Cold Bars/ Wire Rods
· Cold Rolled Flats
· Coils
· Sheets
· Strips
· Hotplates and Sheet
· Hot Coils
· Tubes
· Castings
· Others
Type
· Austenitic Stainless Steels
· Martensitic Stainless Steels
· Ferritic Stainless Steels
· Precipitation-Hard Enable Stainless Steels
· Duplex Series
Grade
· 200 Series
· 300 Series
· 400 Series
· Duplex Series
Application
· Automotive and Transportation
· Building and Construction
· Consumer Goods
· Heavy Industries
· Metal Products
· Other Applications
Get TOC Details: https://www.databridgemarketresearch.com/toc/?dbmr=global-stainless-steel-market
Global Stainless Steel Market Regional Analysis/Insights
The stainless steel market is analysed and market size insights and trends are provided by country, product, type, grade, application as referenced above.
The countries covered in the stainless steel market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
North America is estimated to dominate the stainless steel market due to the growth and expansion of the automobile sector within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the rise in construction activities as a result of the rising population coupled with the presence of major players in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Stainless Steel Market Share Analysis
The stainless steel market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the stainless steel market.
Some of the major players operating in the stainless steel market are:
· DuPont (U.S.)
· DOW (U.S.)
· Umicore (Belgium)
· Glencore (Switzerland)
· Jinchuan Group International Resources Co. Ltd (China)
· Huayou Cobalt Co., Ltd (China)
· Freeport Cobalt (Finland)
· Sherritt International Corporation (Canada)
· solvay (Belgium)
· DAIKIN (Japan)
· BHP (Australia)
· Eramet (France)
· Vale (Brazil)
· Votorantim Metais SA (Brazil)
· Sumitomo Corporation (Japan)
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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
Ø Chapter Six: Global Stainless Steel Market by Product & Procedure type
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